For people who decide to look toward the financial industries for a career, one segment that they often look at is the Forex industry. With about $4 trillion moving through the global currency market each day, it is a fast-paced open-all-hours extravaganza.
There are various types of jobs in the Forex industry along with a variety of specialties. For example, one could work as a FX trader with a specialty in emerging markets. These types of positions require both a college degree and several years of experience in direct trading. Another type of trader is a FX options trader.
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To get an idea if this is something you might enjoy, it is helpful to look at online brokerage accounts, such as UFX Markets, that have educational information on their websites. Learn about the various currencies that are traded. Train yourself to watch the news and see how current events can affect world currencies. Regularly read publications and books on the subject. A good start is the Wall Street Journal.
Obtaining a college degree is a requirement for most positions in the Forex industry. To be considered by one of the larger investment houses obtaining an MBA or PhD is a good idea. Furthermore, a strong technical background in math, engineering and/or physics is helpful for some positions.
As is the case with most degrees, remember that an education will only take you so far. You have to get a pulse for the industry by good old-fashioned hands-on training. Set up an account with a brokerage that lets you use “pretend” money to test trades. Live, breathe and eat Forex until it becomes second nature.
