Profession foreign exchange broker

Foreign exchange brokers buy and sell foreign currencies on behalf of their clients in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information such as market liquidity and volatility, to predict the future rates of currencies on the foreign exchange market.

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Personality Type

  • Enterprising / Conventional

Knowledge

  • Economics

    Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

  • Financial markets

    The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.

  • Financial jurisdiction

    Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

  • Foreign valuta

    The currencies of different countries such as the euro, dollar or yen including their exchange rate and the methods of currency conversion.

  • Commercial law

    The legal regulations that govern a specific commercial activity.

Skills

  • Advise on financial matters

    Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

  • Trade foreign currencies

    Buy or sell foreign currencies or valuta on the foreign exchange market on your own account or on behalf of a customer or institution in order to make a profit.

  • Apply technical communication skills

    Explain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.

  • Perform financial risk management in international trade

    Evaluate and manage the possibility of financial loss and non-payment following international transactions, in the context of foreign exchange market; apply instruments like letters of credit.

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Analyse market financial trends

    Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

  • Forecast economic trends

    Gather and analyse economic data in order to predict economic trends and events.

  • Analyse economic trends

    Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

Optional knowledge and skills

maintain records of financial transactions accounting communicate with banking professionals provide financial product information financial products actuarial science perform stock valuation international trade stock market trade securities build business relationships statistics trace financial transactions international commercial transactions rules operate financial instruments monitor stock market handle financial transactions negotiate with stakeholders securities banking activities protect client interests review investment portfolios