An undergraduate degree in economics, mathematics or statistics is required to get entry-level foreign exchange trader jobs. Careers in foreign exchange require traders to become fluent in the economics of a specific country, to build relationships with people both foreign and domestic and to make quick decisions based on market factors and the current trading environment.

Add foreign exchange employment courses that will help you develop a specialty in the currency of a particular country or region of the world. Take advantage of career courses and seminars in areas such as international finance, law and government relations. Watch for training for jobs in foreign exchange as your career develops.

1. Earn a bachelor's degree with an emphasis on international economics for foreign exchange trading jobs.

2. Diversify with advanced training to use in your foreign exchange trader career as an entry to other career paths.

3. Participate in trade groups that offer continuing foreign exchange adviser job training.

Action Steps
The best contacts and resources to help you get it done

Look for an undergrad degree to land foreign exchange employment

Many of those who work in foreign exchange trading jobs have a natural talent for manipulating numbers and an appreciation for foreign markets. The fast-paced environment of the foreign exchange adviser job provides economics and math grads with the excitement and challenge that often is missing in careers that deal solely with money and numbers. Other degrees such as those in history or political science can be useful if the courses offer an emphasis on economics.

I recommend: Most bricks-and-mortar universities offer bachelor of science degrees in economics, but if you need the convenience of an online learning experience, try the program offered by Strayer University. Another online degree opportunity is a mathematics degree from the University of Illinois.

Find diversified advanced training for foreign exchange trading jobs

Seek out advanced training in areas such as securities and funds distribution or international law. Diversify your training with courses in other areas such as stock market or institutional trading environments to enhance your skills and broaden your foreign exchange job opportunities.

I recommend: Check out the GAIN Capital Group for courses in futures and commodities training to diversify your resume. The Society for Worldwide Interbank Financial Telecommunication, or SWIFT for short, offers a forex training for back-office and IT administrative staff.

Join groups that offer members training for foreign exchange job opportunities

Most trade associations offer continuing education and professional development courses for foreign exchange trader jobs. Some groups can guide you to special certification courses that can help you diversify, such as a certificate in energy risk management or an international certificate in banking risk and regulation.n.

I recommend: Find a number of training classes for certifications you need through the Association for Financial Professionals. Their Certified Treasury Professional (CTP) course is important for foreign exchange professionals, as you have to work daily with both domestic and foreign treasuries and currencies. The Global Association of Risk Professionals is another good place to make important contacts and find training for basic foreign exchange modalities. Several of the specialty courses are directly relevant to foreign exchange jobs, and could give you valuable insight into how your specialty market works.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Learn to speak a foreign language to enhance foreign exchange careers and provide more opportunities for advancement.

As the foreign exchange market is getting more popular, many people are looking for foreign exchange jobs in order to combine their interest with a regular salary.

Those with foreign exchange careers help the average person to understand the foreign exchange market. Many people find it confusing and without someone in a foreign exchange advisor job, they could make costly mistakes.

If you are interested in foreign exchange trader jobs:

1. Use a free practice account to see if you would really enjoy jobs in foreign exchange trading. Many forex websites offer a free account that lets you practice trading. You'll be able to see if you have a knack for it.

2. Get a degree in finance. While not many schools offer a degree specifically in foreign exchange, a general finance or business degree will help you to understand the mechanisms of the market, which is essential if you want a foreign exchange trader career.

3. Network with others in the industry. This can help you to get your next foreign exchange positions as well as help you to learn more.

Action Steps
The best contacts and resources to help you get it done

Prepare for foreign exchange trading jobs with an internship

In many cases, people stay away from internships because they are unpaid or offer only a small stipend. However, internships provide valuable experience in forex trading and help you to beef up your resume. If you can afford to take an internship, it's always a good idea to do so.

I recommend: Search for forex internships at Juju. Alternatively, what better way to study the foreign exchange market than by studying in a foreign country? UBS is in Zurich and offers internships in foreign exchange.

Find foreign exchange employment online

If you're looking for a job in foreign exchange, then the Internet is a great place to start. You can find a variety of jobs relating to foreign exchange in whatever city you live in.

I recommend: FXDD is an online foreign exchange trading company that frequently has positions available. Vault is another popular resource for finance jobs, including those in foreign exchange.

Hire a recruiter to help you find foreign exchange jobs

A good recruiter can help you get your good in the door of any company. Many people choose to use one, especially when they don't have many connections themselves.

I recommend: Analytic Recruiting, Inc. allows you to look at the foreign exchange trading jobs they have available before you contact them. If there's something that interests you, you can send them your resume. Mercury Partners specializes in place people into finance positions. After registration, you will be able to view jobs.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Subscribe to foreign exchange magazines to stay current in the industry. This will help you to advance in your foreign exchange trader career.

Jobs in foreign exchange appeal to many who like the thrill of riding the highs and lows of the market as well as the challenge of working across international lines. Foreign exchange jobs involve overseeing or handling foreign exchange transactions for clients — which may be institutional investors, banks or even funds. Those who pursue foreign exchange careers often specialize in a particular area — usually foreign exchange trader jobs or foreign currency analysts jobs.

Foreign exchange trading jobs require specialty knowledge of the currencies of groups of individual or geographically-related countries (i.e., currencies of the Pacific Rim). Foreign currency analysts not only trade in foreign exchange markets, they also monitor all currencies and transactions and communicate regularly with foreign traders and banks. Foreign exchange jobs education and training may differ depending on which specialty is pursued and the level of responsibility within this career track. Consider the following to gain the education and training necessary to pursue careers in foreign exchange:

1. Most foreign exchange careers require a four-year undergraduate degree in either Finance or Economics.

2. Many foreign exchange positions require experience that may be obtained via an internship.

3. Specialty-specific education certifications are generally required with foreign exchange employment.

Action Steps
The best contacts and resources to help you get it done

Satisfy a foreign exchange jobs requirement with an undergraduate degree in Finance or Economics

While it is hard to find a university that offers a foreign exchange track, a Finance or Economics degree is generally acceptable and will help you understand foreign exchange market basics.

I recommend: Business Week's article ranks top U.S. undergraduate business program that offer concentrations in finance and economics. Florida International University is recognized by U.S. News & World Report as having a top international business program.

Gain on-the-job foreign exchange careers experience with an internship

Entry-level positions in the foreign exchange employment arena are hard to come by. Many positions often advertise experience in the financial industry and/or the foreign exchange market as a pre-requisite to hiring. For those seeking foreign currency analyst positions, financial analyst experience is usually preferred. A volunteer internship may help improve your chances of taking advantage of foreign exchange job opportunities that come your way.

I recommend: UC Davis' blog contains information about paid internships in foreign exchange trading, including qualifying criteria. Trovit's job site provides listings of several UK-based foreign exchange internships.

Earn certifications to pursue specialized jobs in foreign exchange

A completed National Association of Security Dealers (NASD) Series 7 and 63 certification is usually required, although many employers will hire you to work as a foreign exchange trader with the understanding that you will complete this certification within a year. Chartered Financial Analyst certification (CFA) is a common requirement for those who wish to specialize in foreign currency analysis.

I recommend: The Boston Institute of Finance offers online test preparation for NASD Series 7 and 63 licensure exams. Stalla, a division of Becker Professional Review, offers test preparation materials for the CFA exam.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  While not always required of jobs in foreign exchange, fluency in the foreign language spoken in your area of specialty is a plus. The ability to communicate with clients and financial institutions at the other end of your dealings can only help to ensure transactions get managed smoothly.

If you're looking into foreign exchange as a career, there are a number of terms that you need to know if you want to be successful. For instance, you may want to work as a broker or as a quantitative modeler. A broker has to take tests in order to get a license. You'll also have to decide whether to work for a brokerage or to become a Registered Investment Advisor. Once you learn these basic terms, however, you'll feel confident about choosing the right path.

Action Steps
The best contacts and resources to help you get it done

Forex broker

A forex broker takes care of the logistics of trading currencies. He or she may also provide advice to the investor.

I recommend: Learn more about what a forex broker does by visiting wiseGEEK.

High frequency currency trader

Many brokerages are looking to hire a high frequency currency trader, or high frequency trader, as it's more commonly known. These people always have their eye on the stock ticker, since they are not the type to 'buy and hold.' Instead, high frequency traders are used to trading several times a day, sometimes a necessity in the forex market.

I recommend: Visit Rick Bookstaber's blog for more information on high frequency traders and why companies want them.

Quantitative modeler

A quantitative modeler, or analyst, takes available data from the foreign exchange market and attempts to create a model of the system. This helps to make predictions in the market.

I recommend: KLG Advisors provide quantitative modeling services and describes the process on their site.

NASD Series 7 and Series 63

The NASD Series 7 and Series 63 are the two major licensing exams that you must pass if you want to be a stockbroker.

I recommend: Visit Preparer.com to see the requirements for taking the NASD Series 7 and Series 63 exams and to see if your state requires them.

Registered Investment Advisor

If you don't want to work for a financial company, you need to become a Registered Investment Advisor through the SEC. This is a good move for those that want to act as consultants on their own.

I recommend: Registered-Investment-Advisor.com explains the difference between a Registered Investment Advisor and a stock broker.

National Futures Association

The National Futures Association is a professional organization for those in the futures business, including those in the foreign exchange market. It's a good resource for training and networking opportunities.

I recommend: Learn about the National Futures Association through their website.