Forex markets involve currency all around the globe, which also means that it is open 24 hours a day, for five days a week. This means working in the forex industry is a fast-paced, long hours odd working hours kind of job. To be in the forex industry, you will need to have data of and compliance with laws and rules governing money accounts and transactions.
This article will include a summary of five of the major career areas in the forex industry. First of all, we will look at forex market analyst/ currency research/ currency strategist. This role has many different names across the industry and varies between companies. As an analyst/ researcher, the main responsibility is to perform analysis so as to put in writing daily market comments regarding the forex market and also the issues that have an effect on currency values such as economic and political problems. These professionals involve technical, quantitative analysis in their opinions and are always keeping up with the changes in the fast-paced market to produce high-quality content in their writings. They are also usually good in communication and presentation skills.
The next career in the forex industry is account manager/ professional trader/ institutional trader. People who have been systematically trading forex successfully on their own usually have what it takes to become an expert in this area. Account managers and skilled forex traders (see best forex broker indonesia) are needed by institutional investors such as banks and multinational corporations to make important buying and selling decisions for them. Account managers also handle individual investors by creating trade selections and executing trades that are supported by their clients’ goals and risk tolerance. These professionals are usually in charge of a large amount of money and must be able to meet profit targets with high stakes.
Forex industry regulators are also another career option in the forex industry. The roles of these professionals are to prevent fraud within the forex market according to the laws and regulations in the forex industry. They operate in both public and private sectors to promote honest practices and transparency in trading. Forex regulators also acquire the help of numerous professionals such as legal personnel, economists, specialists in trading, CFAs, auditors and also accounting and management professionals. Besides that, they also educate investors on their knowledge on brokers and prevent them from getting scammed.
The fourth major career area of the forex industry is Forex Exchange Operations, Trade Audit Associate and Exchange Operations Manager. These professionals are in charge of processing new client accounts; corroborating customers’ identities as needed by federal regulations; processing customers’ withdrawals, transfers and deposits; and providing customer service. They also work with customers to resolve trade-related disputes. An Exchange Operations Manager would assume bigger responsibilities compared to that of an associate by executing, funding, settling and reconciling forex transactions.
Last but not least, forex software developers are becoming more important as the forex trading world is also growing digitally. These professionals usually work for brokerages to make proprietary trading platforms that enable users to access currency rating information, use charting and indicators to investigate potential trade and trade forex online. They are heavily involved in technical areas like front-end and back-end frameworks, databases and servers.