The internet has allowed millions of people to live the digital nomad life. If you have a knack for trading and you want to pursue this lifestyle, applying for forex trader jobs online is a great option. Continue reading to learn more and find out how you can apply for forex trader jobs online today.
What are Forex Trader Jobs?
If you choose to work as a forex trader, online or offline, you will be expected to concentrate on the foreign exchange market and determine the most profitable move depending on the performance of the currencies. By studying the trends, you are responsible for executing the trade.
Aside from this, you are also in charge of doing market research to determine whether a move will be profitable or not. Other duties you would need to fulfill include complying with laws, developing strategies, and meeting set targets.
Forex Trader Job Nature
Essentially, forex trader jobs not only require you to have an impeccable business sense, but you also need to have an understanding of political, as well as socio-economic elements, as these also have effects on the values of currencies.
Other than this, you will be trading from an office or from home, depending on the type of work you wish to carry out…
Employees typically work for a firm or forex broker and trade on behalf of the company’s clients, earning a salary plus bonus from profits made. Freelance traders do the same, however, they work directly with their own clients, cutting out the employer in between. Entrepreneurs or individual traders trade forex on their own dime.
Forex Trader Job Rates
If you work as an employee for a firm, pay generally consists of a base salary plus a bonus based on how long you’ve worked there and the trading profits you made during the bonus period. As a first-year trader your annual base may be around $65,000 plus bonuses which will bring you up to approximately $85,000.
If you are an experienced trader working for a major firm you can expect a base annual salary of $100,000 – $120,000, plus bonuses bringing you up to $150,000 – $250,000 or more.
If you choose to work with your own clients as a freelance forex trader, your rates will depend greatly on the profits you can bring to the table. On top of this, most freelance forex traders charge an hourly rate. To get an idea of hourly rates, you can carry out some research on freelance platforms like Upwork to see what other traders are charging.
Forex Trader Job Eligibility
Whilst this career can be very lucrative, eligibility is not as strict as you may think. Generally, the only qualification you need is an understanding of how foreign exchange works. However, keep in mind that clients typically look for forex traders with the skills, experience, and intuition that drive them to make profitable decisions.
Apart from this, you will need a good computer and 24-hour access to reliable internet.
How to Apply for Forex Trader Jobs Online
There are two primary approaches to finding jobs as a forex trader online:
- Become an employee of a firm and trade on behalf of the clients, earning a salary plus a bonus based on profits
- Become a freelancer and make profitable moves on behalf of your clients, charging an hourly rate plus a bonus based on profits
The first way requires you to send out applications to various firms, highlighting your competency in the area and how you can drive profits. Specialized financial job sites such as eFinancialCareers are great places to get started. On top of this, forex job ads are regularly posted on sites such as Indeed, Glassdoor, and LinkedIn.
The second way requires you to sign up on freelance platforms and reach out to clients looking for forex traders. Upwork is a good platform for this, however, if you’re looking for more stable opportunities, FlexJobs is the best job platform for accessing quality hand-screened remote, part-time, freelance, and flexible jobs.
With these tips, we wish you the best of luck in finding forex trading jobs online and beginning a new exciting career path!
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