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In short, yes!
That being said, it is not recommended for anyone to launch a career in the world of Forex. Forex trading is considered lucrative and does require a certain skill level that the average Joe simply does not have.
Not only do you need to understand the fine details of financing and investing, but have a deep understanding of what Forex is and how it works.
The Kemistri team has prepared a brief list of career opportunities out there to check out for you to be able to best see if you are a good fit for working in this niche.
Are there any job requirements?
As a base requirement, all Forex jobs require a high level of understanding of both the money market and the laws and regulations that govern the trades.
On top of this knowledge, there are high chances that the company you may opt to join will require additional testing to be sure you truly know your stuff. Some of these tests are likely to include the series 3, series 7, series 34, and series 63.
If an opportunity arises that is remote or abroad it is also helpful if you speak multiple languages as you will be able to work with a wider array of Forex traders.
What are some top Forex careers for financial professionals?
Forex Market Analyst
The Forex job available is that of a Forex market analyst. It can be noted that if you are interested in this position, it may also be listed as a currency researcher or currency analyst.
This forex job requires an expertise in quantitative analytics, along with technical and other fundamental analytics, to be able to write up daily commentary on the market to inform brokers and traders of daily movements and predicted trends.
Analysts often have degrees in finance or economics at a bachelor’s level as well. With this degree, they are also preferred and likely to have at least a year of experience in working and trading within the Forex niche.
Forex Account Manager
A Forex account manager often starts as a successful trader themselves. Account managers are responsible for large amounts of money, reputations and those of their employers are reliant on how well they handle those funds.
An account manager needs to have proven success on the market and be able to show that they can meet target goals of the client and overall profit goals of the company that they are working for.
As an account manager you could manage individual accounts or larger portfolios. This all depends on the company that you will be working under.
Forex Industry Regulator
A Forex industry regulator is in charge of ensuring that the Forex market keeps free of fraud. This Forex job is often a part of a greater tier system of command at preventing industry fraud.
Oftentimes a government regulated agency, like the Commodity Futures Trades Commission, will hire an attorney, auditor and investigator. It is then each person’s individual responsibility to ensure that everything audited meets the rules in place by the CFTF or other similar regulatory organization.
This position requires at least a bachelor’s degree, but it is often preferred to hold a master’s degree. This Forex job also goes beyond the Forex market though as well. Not only woul an industry regulator need to know the ins and outs of the world of Forex, but also the entire market that involves trades and the laws that are in place to govern the markets as well.
Forex Exchange Operations Manager
This Forex job is considered a high level customer service position. A Forex exchange operations manager will be responsible for onboarding and account servicing and possible management.
Common tasks under this role often include processing new accounts, ensuring that a person is genuine and verified, processing any given customer request in terms of deposits or withdrawals, and any other requested customer service point.
Again, as with many of the other positions, a bachelor’s degree in finance or accounting is often preferred to hold this position. Also, under this type of position may also be audit associates that specialize in dealing with customer account disputes.
Forex Software Developer
Last but not least, one more Forex job is a Forex software developer. These people usually work for a brokerage and are in charge of designing the trading platforms allowing users to access currency pricing data, analyze potential trades by using charting and indicators and trade forex online.
A Forex software developer will often have a bachelor’s degree and practical experience within computer technology and other software development.