Foreign exchange dealer and broker jobs in singapore
Currency markets fluctuate greatly, making trading a risky proposition at times. Currency traders buy and sell different types of currencies in an attempt to make a profit. These traders don't necessarily need any type of formal educational background, but most are at least college educated.
Some states require licensing and certification, while others do not. Currency traders can work independently or for larger banks and financial institutions. Working for a company usually requires more rigid standards of formal education and training. Every trade a currency trader makes involves two currencies. The trader uses one currency to buy another.
Thus, trades are based on current exchange rates. For example, a trader might buy 1, U. Since all currency values are defined relative to one another, if the yuan were to gain value in relation to the dollar, and become more valuable per dollar, then the trader who bought yuan with U.
There are a variety of vendors that exchange currencies, and each currency trader has the opportunity to shop around for the best deal. The market is open 24 hours during the weekdays. One of the most critical aspects of currency trading, whether for a financial firm or independently, is research. The market for currencies is subject to constant motion during operating hours, so it pays to stay current with trends, news and movements.
It also pays to have a thorough understanding of the mechanics of the business. Any type of news can have an effect on currency trading: Since the fundamental unit of trading is currency pairs -- the bought currency and the sold currency -- you must stay aware of recent events in the countries whose currency you trade in.
In addition to constant vigilance and attention to relevant news, technical analysis is also important for currency traders. It is important for the trader to understand and analyze the relevant numbers and trends associated with any trades he is going to make.
Working In Finance: 5 Forex Careers
In essence, technical analysis means looking at the numbers to determine the possible risks and rewards of a transaction. For example, if one U. If the trader makes the buy and ends up being correct, then he will have bought euros at far below market value a week earlier.
There is always a risk of losing an entire investment. However, with stable currencies this is less likely because it would mean that one of the currencies has become literally worthless.
Although independent trading is an option, new traders might find it easier to get started by going to work for a company because of the mentoring you can receive. Financial firms of all work from home corbin ky, including banks, participate in the foreign exchange market. These firms need specialized teams of traders to do the research and carry out the trades.
Many lower level positions do not require much experience, but extensive educational backgrounds in economics and foreign relations are becoming more prevalent even for entry-level jobs. Trading currencies as part of a team typically means having to take exams or gain certification. These include Commodity Trading Advisor or Retail Foreign Exchange Dealer credentials from foreign exchange dealer and broker jobs in singapore like the National Futures Association.
Linda Ray is an award-winning journalist with more than 20 years reporting experience. She's covered business for newspapers and magazines, including the "Greenville News," "Success Magazine" and "American City Business Journals.
Skip to main content. Trading Every trade a currency trader makes involves two currencies. Research One of the most critical aspects of currency trading, whether for a financial firm or independently, is research.
Analysis In addition to constant vigilance and attention to relevant news, technical analysis is also important for currency traders. Working for a Firm Although independent trading is an option, new traders might find it easier to get started by going to work for a company because of the mentoring you can receive.
Currency Trader Job Description | jyfyyuxy.web.fc2.com
References 5 Education Portal: How to Become a Currency Trader Go Currency: The Foreign Exchange Market for Beginners FINS: So You Want to be a Foreign Exchange Trader Go Currency: Currency Trading Basics National Futures Association: About the Author Linda Ray is an award-winning journalist with more than 20 years reporting experience.
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