Career Path to become Forex Dealer
Role / Profile
Who can become ?
Forex dealers are professionals who work with different clients, buy and sell foreign currencies at a profit. They are responsible for analysing the foreign exchange market and keeping up with the fluctuations in the market to monitor the pulse of the market conditions.
What are the roles of a forex dealer?
Forex dealers help clients and businesses to make a profit through the exchange of foreign currencies. Some of the prominent responsibilities are:
• Buying and selling forex from around the world at a profit.
• Analysing the current forex market trends and looking for profitable trends.
• Developing relationships with clients and suppliers.
• Providing expert advice to clients based on market updates.
What are the skills required to become a forex dealer?
To be successful as a forex dealer, you need to have the following skills:
• Advanced analytical and problem-solving skill
• Good knowledge of various statistical and analytical software
• Fluent communication skills (both verbal and non-verbal)
• Good presentation and interpersonal skills
• Up-to-date industry and market trends knowledge
What are the career outcomes of a forex dealer?
With an experience as a forex dealer, you can expect the following career profiles:
• Forex Manager
• Relationship Manager
• Investment Banking Analyst
• Finance Manager
What is the average salary of a forex dealer?
The average salary of a forex manager is approximately ₹ 6-8 Lacs per annum. The salary can also vary according to the individual’s qualification, experience and type of organisation. Generally, with a certification in forex, can have a better career growth than a non-certified professional.
What are the career advantages of becoming a forex dealer?
As a forex dealer, you will gain various skills in analysing market trends and improve your career. Some of the career advantages of becoming a forex dealer are:
• You will be able to work with a varied list of clients and get a rich experience in handling different clients.
• You can work as a freelance forex dealer and become independent in terms of earnings.
• You can move to a higher profile in financial analytics area and have a better career growth.
• Financial Analysts
• Forex Tellers/Clerks
• Finance Executives
Who can become a forex dealer?
• Non-experienced professionals – If you do not have sufficient knowledge in the forex industry, you can get the requisite skills with the help of a certification in forex or finance.
• Experienced professionals – Common skills that are expected from an experienced professional are knowledge about forex transactions and the market. Other skills like communication and leadership are also highly beneficial, which you can acquire through professional training.
Naukri Learning offers a wide range of professional courses in finance or forex, which will help you to acquire the right skills to get a job, improve career or get a better salary.
What is the eligibility criteria for a forex dealer?
There is no fixed eligibility criteria to become a forex dealer. However, most forex dealers are from a finance, statistics or commerce background. If you do not have the educational qualifications, you can go for a certification course in finance, forex and other related areas.
Why are candidates going for a forex dealer role?
• Forex Teller/Clerks – Forex tellers and clerks have basic responsibilities and limited area for growth. Thus, these professionals look to go for a professional training course and move to a forex dealer position, which will help them to have a better salary and profile.
• Bankers – Most banking professionals have a defined career path. For those who want to expedite their career path, can go for a forex dealer position and move to an analytics position in future. Also, there is less competition in the field as compared to the banking industry.
Recruiters usually look for the following profile while hiring a forex dealer:
• Prior experience – Most recruiters prefer if candidates have some amount of experience working in the same profile; though, it is not a necessity. If you can gain the requisite skills and have the confidence, you will have the same advantage as that of an experienced person.
• Key skills – Forex sales, treasury, audit, risk management, trend analysis, market forecasting, etc.
Who are the top recruiters that hire forex dealers?
Many big organisations look to hire skilled forex dealers to help make excellent business decisions related to forex. Some of these top recruiters are ING Vyasa Bank, KPMG, PwC, and Deutsche Bank.