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Working in the Forex Industry: 5 Popular Forex Jobs

 

Working in the Forex Industry 


Working in the Forex industry contains a lot of excitement and high salaries but also a lot of other -not so attractive- challenges. We shouldn’t forget that the Forex market is open 24 hours a day. In this article five (5) popular Forex jobs are presented, and these are: 

1)   Forex Analyst / Researcher

2)   Forex Account Manager

3)   Forex Affiliate Manager

4)   Forex Programmer / Web Master

5)   Forex Regulator

In addition, some other specialists may be occupied in the Forex industry that are not listed in this article like accountants and human resource managers.

Usually Forex brokers maintain offices in many different countries, so candidates who are willing to travel a lot and even stay abroad for long periods are more suitable for the job. The ability of communicating in many different languages is always welcomed in the Forex industry, and especially Spanish, Chinese, French, Arabic, German, Russian, Korean and Portuguese.

 

 The Five (5) Forex Jobs

 

1. Forex Analyst / Researcher

Employers:

A Forex analyst is mainly hired by Forex Brokerage Firms, but he may also be occupied by other companies like signal providers, Forex magazines, Forex web sites etc.

Responsibilities

A Forex market analyst performs deep research using technical and fundamental analysis and provides traders with a daily market commentary. Technical analysis is usually done using MetaTrader4. Fundamental analysis includes economic and political analysis in issues that are able to affect future currency fluctuations. Individual and professional traders are using these reports either to pick a trade or to pick the time to execute a trade.

Requirements:

A Forex Analyst must have at least a bachelor's degree in financials / economics or similar education fields. Also he must have at least two years experience as a trader in the Forex market. Finally, a lot of researching talent is also a long-term requirement for that particular job. 

2. Forex Account Manager

Employers:

Account managers are occupied mainly in Forex Brokerage firms, in hedge funds and currency mutual funds.

Responsibilities:

An account manager is helping individual and professional traders to make their own trading / investing decisions. Banks and large multinational companies are using account managers to reduce or even eliminate foreign currency risk and hedge against abnormal currency fluctuations. But an account manager may also execute speculative trades on behalf of its clients, according to their risk tolerance and their performance goals. It is a very difficult job that may lead one day to success and the other to total dissaster. This job is not for every candidate.

Requirements:

The necessary skills for a candidate include a good knowledge of the Forex market and especially what concerns regulations governing financial accounts and money transactions. An account manager must have at least a bachelor's degree in financials / economics or similar education fields. Also he must have at least three years of trading experience in the Forex market and an exceptional knowledge of trading platforms {especially MetaTrader4 which is the Forex industry standard}.

3. Forex Affiliate Manager

Employers:

An affiliate manager may work mainly for Forex brokerage companies but also in any other Forex company that plans to become aggressive to competition and thus gaining rapidly market share. In addition, an affiliate manager may work for a Forex advertising company or a Forex promotional network.

Responsibilities:

The main responsibility of an affiliate manager is to promote a Forex Brand and to develop a network of affiliated partners, usually in all over the world. These affiliate partners will also promote this particular brand with the incentive of a reward per sale (usually CPA or Revenue Shared).

Requirements:

A Forex affiliate manager must be very social, intuitive and obtaining exceptional communicative skills. The knowledge of many different languages is certainly an advantage, as the ability to travel abroad. Finally, the existence of a Bachelor’s Degree in Marketing or Advertising is an additional advantage for every affiliate manager candidate.

4. Forex Programmer / Web Master

Employers:

Forex programmers and web masters are mainly hired by online Forex Brokers, but they may be also occupied in specialized hi-tech companies {Forex software developers, Forex robots developers, automated-Forex trading systems providers etc}.

Responsibilities:

Forex programmers / developers are responsible for the most important section of every Online Forex Broker, and that is the trading platform. Forex developers ensure that the trading platform is operating without problems, allowing users / traders to access currency data in real-time and execute trades without delays. They are also responsible for providing API bridges to professional clients, and in some cases to provide the ability of Expert Advisors to all traders.

Web masters from the other hand are responsible for maintaining / fixing a web-site. They are also responsible to ensure the security and reliability of the web-server, to execute upgrades and to protect the web-site from potential hacking attacks.

Requirements:

A bachelor's degree in computer science is absolutely necessary for both Forex programmers and web masters. Special computer engineering knowledge is also required, like Javascript, SQL and web-server networking. Financial knowledge and trading experience is not required but it will certainly constitute a major advantage for every candidate. 

5. Forex Regulator

Employers:

Regulating bodies around the world, like FSA (UK), CFTC (USA), BaFin (Germany) and FINMA (Switzerland).

Responsibilities:

Regulators are hired in both public and private sectors and have the responsibility to control the domestic financial markets and to prevent fraud.

Requirements:

Usually regulators are hiring auditors, attorneys and economists. A bachelor's degree is absolutely a minimum requirement and usually a master’s degree is also needed.

» Learn about Forex Regulators 

FSA (UK) web-site

CFTC (USA) web-site

MiFID web-site

BaFin (Germany) web-site

 

Giorgos Protonotarios, for OnlineForex.biz

 

 

Working in Forex Industry: 5 Popular Forex Jobs

OnlineForex.biz (2012)

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