Foreign Exchange Dealers (ForEx Dealers) make foreign exchange transactions after analysing global market conditions and identifying profit-making opportunities.
Foreign Exchange Dealer Job Description
- Analyse key industry challenges and potential scenarios that affect the foreign exchange markets.
- Assess operational risks due to financial market activities, and determine if mitigating actions are needed.
- Monitor currency fluctuation and evaluate foreign exchange markets to identify trading opportunities and formulate trading strategies.
- Price and value foreign exchange products and foreign exchange derivatives to provide price quotes to clients.
Note
Foreign Exchange Dealers know exchange rates at the back of their hands. Bring them to a McDonald's in Singapore to get a Big Mac, and they can probably tell you how much it would be in Malaysia!
What you should know about Foreign Exchange Dealer jobs in Singapore
Nature of Work
As ForEx Dealers, your primary role involves trading currencies in the foreign exchange market and making analytical decisions.Key Advice
Stay updated on global Economic trends and Geopolitical events to make informed trading decisions.-
Entry RequirementsEntry Requirements
- A bachelor's degree or minimally a diploma in Banking and Financial Investment, Banking, Insurance and Financial Services N.E.C. (Including Computational Finance) or related fields is needed.
- Typically, it is not an entry-level job - prior work experience in market analysis is needed.
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Possible PathwayPossible Pathway
Skills you need to pursue a Foreign Exchange Dealer career in Singapore
Hard Skills
Able to respond quickly to foreign exchange market conditions
Swift reactions to market shifts secure trading profits.Fundamental Understanding of the ForEx market
Grasping ForEx, economics, trends, and geopolitics shape trading tactics.Monitoring daily loss and profit positions in the trading book
Analysis and strategy tweaks to maximise trading outcomes.
Soft Skills
Analytical Skills
Critical analysis of market data and economic indicators is essential for forecasting trends.Organisational Skills
Efficiently manage multiple tasks and stay organised in the complex world of ForEx trading.Global Perspective
Understanding global markets enhances your ability to predict market trends and trading opportunities.Related Job Roles
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