How To Become A Foreign Exchange Trader: What It Is and Career Path

What is a foreign exchange trader and how to become one

Updated January 8, 2025

3 min read

Have you ever approached a Foreign Exchange Trader to review your currency exchange orders? If so, you might enjoy this profession quite well. Foreign Exchange Traders are highly skilled personnel responsible for the timely buying and selling of foreign currencies. They even recommend competitive foreign exchange rates based on market performance.

As a Foreign Exchange Trader, you review orders to ensure accuracy, proper record keeping, and conformance to regulations. Also, you carry out trades and maintain the corporation's accounts.

But to ensure entry into this role, you must get a bachelor's degree in the area of specialty. Additionally, the job requires up to two years of related experience. This will help you understand the trading concepts better and solidify your chances of succeeding in this role. Doing so, you would probably earn around $98,590.

ScoreForeign Exchange TraderUS Average

Salary

8.0

Avg. Salary $115,133

Avg. Salary $59,228

Stability level

9.5

Growth rate 10%

Growth rate 0.3%

Diversity

6.1

Race

American Indian and Alaska Native 0.21%

Asian 12.34%

Black or African American 5.50%

Hispanic or Latino 11.42%

Unknown 4.12%

White 66.42%

Gender

female 20.40%

male 79.60%

Age - 43

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 43

Stress level

9.5

Stress level is very high

7.1 - high

Complexity level

10.0

Complexity level is advanced

7 - challenging

Work life balance

3.5

Work life balance is poor

6.4 - fair

Key steps to become a foreign exchange trader

Explore foreign exchange trader education requirements

Most common foreign exchange trader degrees

Bachelor's

77.2 %

Master's

15.2 %

Associate

4.6 %

Start to develop specific foreign exchange trader skills

Skills	Percentages
Manage Risk	35.03%
Equities	17.22%
Foreign Exchange Products	11.82%
Foreign Currency Transactions	8.33%
Technical Analysis	2.86%

Research foreign exchange trader duties and responsibilities

Manage overall risk for FX online dealer during Asia shift.
Communicate with brokers to ensure accurate allocations for futures, foreign exchange, and equities between separately manage accounts.
Experience using Bloomberg, Reuters, and FX trading platforms.
Display subject matter expertise in Reuters, Bloomberg, EBS, and various foreign exchange platforms.

Prepare your foreign exchange trader resume

When your background is strong enough, you can start writing your foreign exchange trader resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a foreign exchange trader resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

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