Foreign-Exchange Trader Salary
|Salary||$40,000 - $152,605|
|Bonus||$1,521 - $98,633|
|Total Pay (||$40,851 - $215,317|
Job Description for Foreign-Exchange Trader
Foreign-exchange traders are responsible for conducting financial trading in foreign currencies across the globe on behalf of their company. These professionals use their expertise to buy and sell certain currencies and stock options at specific time intervals.Read More...
Some of their main responsibilities include keeping up to date on currency exchange rates, market volatility, and recent events that can change the value of different currencies in different countries. They receive recommendations and strategy information from the senior foreign exchange trader in their organization. They generate profitability and income for their company by executing trades and generating spread income. They have strong interpersonal skills to communicate in person, over the phone, or through electronic means to reach all trading goals within an specific timeline. They work in a fast-paced environment where stress is high, as there is pressure to buy and sell hedging products with very specific time frames. Foreign-exchange traders also provide advice when opening and closing foreign exchange accounts. They build rapports with clients and generate more business for their firm. In addition, these professionals are in charge of facilitating and reviewing financial contracts. They make sure that these contracts comply with trading desk procedures and federal regulations for financial security and privacy. Foreign-exchange traders have excellent technical skills to position and acquire different foreign products and to automate processes as much as needed.
These professionals can work independently or as part of cross-functional teams. A bachelor's degree in finance, economics, accounting, or a related field is required for this position. In addition, previous years of experience as a trader can be helpful. (Copyright 2017 PayScale.com)
Foreign-Exchange Trader Tasks
- Buy, sell and exchange foreign currencies to exploit fluctuations in markets and increase profitability.
- Manage accounts, and meticulously track losses and profits.
- Analyze currency markets and reports.
Foreign-Exchange Trader Job Listings
Pay by Experience Level for Foreign-Exchange Trader
Pay by Experience for a Foreign-Exchange Trader has a positive trend. An entry-level Foreign-Exchange Trader with less than 5 years of experience can expect to earn an average total compensation of $74,000 based on 25 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Foreign-Exchange Trader with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $86,000 based on 10 salaries. An experienced Foreign-Exchange Trader which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $100,000 based on 6 salaries. A Foreign-Exchange Trader with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $140,000 based on 5 salaries.
Key Stats for Foreign-Exchange Trader
Rated 4 out of 5
based on 3 votes.