Where are the forex careers?

Where are the forex jobs?
From Currency Investors Group and http://youcantradecurrency.com

As a CEO of a small firm working in the forex space, I have spent the last two years reviewing, studying, analyzing, and “googling” the forex or currency trading space. I’ve been on the web in some form or fashion since 1995 and have witnessed the profound changes in efficiency in just about all things surrounding the web. That efficiency makes research, information gathering, and connecting far more easy than ever before. I wanted to share some details regarding research I’ve conducted recently.

Careers in Forex or in the foreign currency brokerage business are relative rare. Let me cite some examples.

Current openings surround, in most part, the areas of software development. These are programming positions. These positions are integral to the currency trading industry in that without powerful technologies, the currency markets as we experience it as retail investors would not be possible.

Positions in the space include Release Manager, SharePoint Developer, Production Support Analyst, Senior Software Developer, Email Marketing Manager, Interactive Creative Director, and Internships.

A couple of the rare sales positions are described below:

Client Services/Sales - Multiple Positions Available
Cust Support

This entry-level position is ideal for anyone seeking to gain hands-on experience in the financial services, online trading and/or brokerage industries - and offers unlimited advancement potential.

In response to our rapid growth over the past years, we seek motivated, organized, team-oriented individuals to provide assistance in account opening and operational support to the firm’s rapidly growing customer base of professional and individual forex traders.

Responsibilities Include:

* Being part of a team dedicated to handling all aspects of the customer experience.
* Facilitate outbound opening of new accounts for potential clients who already indicated interest in our platform and provide support for existing customers.
* Handle incoming sales inquiries and client issues via phone, email and live, interactive chat.
* Not a cold calling sales position

Sales Account Executive:

The Sales Account Executive is responsible for converting warm leads (potential clients) into live trading accounts. All leads are persons already interested in our products and the firm utilizes a customer service oriented soft-sell approach (no cold calling). The Account Executive will be responsible for familiarizing potential clients with the firm’s products and services as well as educating them about the Forex market.

Responsibilities:

* Drive new account sales by demonstrating the benefits of our products and services.
* Build and maintain relationships with prospective clients.
* Keep abreast of market and industry events.
* Attend events in the US and abroad to pitch our offering to prospective clientele (travel is optional).
* Assist clients through the account opening process.

Qualifications:

* 1 – 3 years of sales experience (Financial services, telecom, healthcare, etc.).
* Interest and understanding of financial markets.
* Strong technical skills, understanding of windows-based applications.
* Must have or obtain a Series 3 license within two months of employment (training and sponsorship provided).
* Must have excellent oral and written communication skills.
* Must be ready to take initiative and want to grow with the firm.
* Second languages are a plus (Chinese, Japanese, Spanish, Arabic, Korean, French, etc.).

Compensaton:

* Competitive base salary, commensurate with experience.
* Performance-based commission structure.
* End-of-year discretionary bonus.
* 401K with matching , group health, dental, life and other fringe benefits.

Forex Dealer FXCM shows 15 positions across the country currently available.

When researching the financial markets for positions relating to forex, most of the positions available are offered by large FCM’s and involve programming or sales positions. If one happens to have established a true history of successful currency trading, i.e. pulling the trigger on trades and making profits, that person will have a strong chance of landing positions in numerous major markets. I’m not talking about the successful running of Fap Turbo here or making returns on your $10,000 trading account.

The point of this post or article is to discuss careers in forex. So where are the entry points? I believe they are to be found in the regulations. Visit the NFA, or National Futures Association and you’ll find that this hugely significant industry is being regulated like so many other industries by a government dead set on protecting us from ourselves. This regulatory environment leads to opportunities. If companies are now required to have licensed and recognized individuals on staff in order to live in certain profitable revenue streams, you have an opportunity. Your past experience as a financial services professional may be helpful in the space. Instead of a series 7 or 63, you’ll find a series 3 and 30 are called for. The industry isn’t regulated by the SEC instead being regulated loosely by the CFTA and the National Futures Association. The entities has a certain degree of power to make the lives of out of compliant entities very tough. Become familiar with their regulations and you’ll have important talking points when it comes interview time.

If companies seek educators, NOT traders, then a huge number of opportunities exist. If sales opportunities exist where training may be offered, huge opportunities exist. Last but not least, the market, specifically the currency or forex market is well developed enough to offer a plethora of free training opportunities that will get you to a certain stage. The best example on line is that offered by http://babypips.com. The best onsite and relatively agenda free training is currently being funded and provided by forex.com or Gain Capital. Visit their site for a complete schedule of upcoming live events.
Careers in forex exist outside of the obvious short list. You have to look, research, and be willing to meet your prospective employer half way.

Good luck on your journey into the world of forex.

Sherman Mohr is CEO of Currency Investors Group, LLC and resides in Brentwood, TN.