Forex trading for individual investors is a very hot industry right now but what if you want to make it your career? Like many jobs in investing and finance, Forex trading jobs require a combination of aptitude, education, and experience.
The job title you’re looking for is Foreign Exchange Trader and you’ll typically find these jobs on job websites or on the human resources pages of individual commercial banks. Forex trading jobs will require a minimum of a Bachelor’s degree or equivalent education.
In addition, a minimum of 2 to 5 years of relevant experience is typical for these types of jobs. Earning money through managing your own personal Forex trading account may seem like great experience but what these banks are looking for is institutional or formal experience in the trading department of a major bank or investment house.
You’ll also need an expert level understanding of various investment securities and financial instruments. Licenses like the Series 6 or Series 7 are not required like they would be for a financial advisor but having these credentials is a plus. You’ll also want to be familiar with the wide variety of securities regulations that cover Forex trading and have a clean criminal background and good credit rating.
While on the job you’ll be expected to execute trades in complex transactions involving multiple classes of securities. You’ll need to understand how to limit undue exposure to market risk and understand how those risks may present themselves given current worldwide market conditions.
As you can see, professional Forex trading jobs are not entry-level positions and require a deep understanding of domestic and international financial markets and the securities that trade on them.