Foreign Exchange Trader Overview | What is a foreign exchange trader?

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.

What does a foreign exchange trader do?

The foreign exchange market is volatile and influenced by numerous factors. A foreign exchange trader considers these factors and utilizes them in their favor. They typically take care to predict misvaluations of currencies accurately. They act on the conclusions reached from their analysis and either buy or sell assets in different markets. This position requires diligence and patience.

Learn more about the specifics of what a foreign exchange trader does

Salary$115,133
Growth Rate10%
Jobs Number17,829
Job Satisfaction
Most Common SkillManage Risk
Most Common DegreeBachelor's degree
Best StateNew Hampshire

Newest jobs for Foreign Exchange Trader in Ashburn, VA

Receive alerts for the newest job postings.

Foreign Exchange Trader career paths

As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a foreign exchange trader can determine their career goals through the career progression. For example, they could start out with a role such as broker, progress to a title such as account executive and then eventually end up with the title senior sales executive.

Foreign Exchange Trader

Learn more about foreign exchange trader career paths

Average foreign exchange trader salary

The average Foreign Exchange Trader salary in the United States is $115,133 per year or $55 per hour. Foreign exchange trader salaries range between $66,000 and $199,000 per year.

Average

Foreign Exchange Trader

Salary

$115,133Yearly

$55.35

hourly

$66,00010%

$115,000Median

$199,00090%

More foreign exchange trader salary info

What Am I Worth?

Foreign Exchange Trader skills and job requirements

The most common skills required to be a foreign exchange trader are manage risk, equities, and foreign exchange products.

Foreign Exchange Trader skills

Manage Risk
Equities
Foreign Exchange Products
Foreign Currency Transactions
Technical Analysis

Fundamental Analysis
Swaps
Foreign Exchange Market
Market Research
Market Trends

Foreign Exchange Trader requirements

Proficient in financial analysis and mathematics
Knowledge of global economics and financial markets
Experience with trading platforms and software
Strong analytical and problem-solving skills
Ability to work under pressure and meet deadlines

Aditional foreign exchange trader skills

Foreign Exchange Trader responsibilities

The role of a foreign exchange trader includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry. Here are some general foreign exchange trader responsibilities.

Foreign Exchange Trader education

If you're interested in becoming a foreign exchange trader, one of the first things to consider is how much education you need. We've determined that 77.2% of foreign exchange traders have a bachelor's degree.

We found that 15.2% of foreign exchange traders have master's degrees. Even though most foreign exchange traders have a college degree, it's impossible to become one with only a high school degree or GED.

The most common majors for foreign exchange traders are business, finance, and economics.

Foreign Exchange Trader majors

Business

27.1

Finance

22.1

Economics

15.7

Foreign Exchange Trader degrees

Bachelor's

77.2

Master's

15.2

Associate

4.6

How do foreign exchange traders rate their job?

5/5

Based On 1 Ratings

5 Stars

4 Stars

3 Stars

2 Stars

1 Star

Foreign Exchange Trader reviews

5.0

A zippia user wrote a review on May 2019

Pros

The reason I like the most about working as a Foreign Exchange Trader is that I will have more time to spend with my family.

Cons

I am not sure yet.

Best states for a foreign exchange trader

Some states are better than others when it comes to starting a career as a foreign exchange trader. The best states for people in this position are New York, New Hampshire, Rhode Island, and Connecticut.

1. New Hampshire

Total foreign exchange trader jobs: 14Avg. salary: $137,445Location quotient: 1.86

2. New York

Total foreign exchange trader jobs: 109Avg. salary: $139,846Location quotient: 1.98

3. Delaware

Total foreign exchange trader jobs: 14Avg. salary: $131,245Location quotient: 2.6

4. Rhode Island

Total foreign exchange trader jobs: 8Avg. salary: $136,754Location quotient: 1.53

5. Nevada

Total foreign exchange trader jobs: 15Avg. salary: $126,625Location quotient: 1.67

6. Connecticut

Total foreign exchange trader jobs: 20Avg. salary: $134,901Location quotient: 1.4