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There are many types of Forex trading jobs, including trader or broker, consultant or advisor and analyst. Each job has a specific function in the Forex trading world, and many brokerages will have at least one person to perform each job. It may become necessary for full-time investors to consult or work closely with each of these Forex experts to ensure success.
The most well-known Forex trading jobs are those of the trader or broker. These terms can sometimes be used interchangeably, but usually the term “trader” is used for an individual investor using his or her own money in the market, as well as for those who trade on behalf of other individuals. A broker generally works as a trader for a firm which handles the portfolios of multiple clients.
Another type of Forex job is that of the consultant or advisor. Typically, a consultant or advisor is someone who has worked in the Forex trading market for several years and has extensive expertise. A consultant does not typically trade on behalf of clients; instead he or she offers educated advice and information to help clients succeed in their own trading. Advisors can offer classes, informational products and individual help for a considerable fee based on the ability to help clients make a large profit. These Forex trading jobs are sought-after in firms as well as on a freelance basis.
The job of an analyst is very different from most other Forex trading jobs. Rather than actively trading or charging for consultations, an analyst acts as a forecaster for the markets. This could mean specializing in forecasts made for one or two market types or predictions made for the entire market as a whole. Analysts are employed by brokerage firms, sought-after as experts and even hired by government agencies because the deep understanding of the market trends and intuition of a good analyst are considered invaluable to traders. An analyst does not normally trade for companies or individuals, but earns money on his or her knowledge of trading.
A Forex trading accountant is another job which is normally found in a brokerage firm. Mostly, a trading accountant has the same duties as any other accountant, except that he or she must work more with “virtual” money and forecasts than with historical earnings. Many times, a Forex trading accountant must compile reports depending on money that either is yet to be made or only exists in the market as a liquid asset. This is where the difference between actual worth and net worth is defined.