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.

Personality Type

• Enterprising / Conventional

Knowledge

• Financial jurisdiction

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

• Financial markets

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

• Foreign valuta

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

• Economics

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

• Commercial law

  The legal regulations that govern a specific commercial activity.

Skills

• Apply technical communication skills

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

• 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.

• Forecast economic trends

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

• 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.

• 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.

• 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.

• 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

Source: Sisyphus ODB