Forex Trading: How much is a senior foreign exchange trader

a panel of headhunters evaluates the average wage
this type of job in London: a base salary
between 107,000 and 128,000 euros with a bonus
variable about 100%.

In the 80s and 90s, a currency trader was
almost a caricature of a middle of the City: a
big hard worker working in an environment
stress. Working long hours,
seasoned currency trader, if not necessarily
the smartest, would be - and it was
usually a "he" - to be strong, have a
quick wit and good market knowledge. The
Things have changed.




Although schedules are difficult and
a trader must still be fast with
figures, the world's foreign exchange trader is today
more complex and nuanced. It now requires
university degrees - if possible in mathematics
- And a good general and (if we must
cite another quality) aplomb. As explained
a headhunter, "the banks want the
Currency traders are able to collaborate
intelligently and clearly with their customers: they
want more gorillas.

This phenomenon has intensified and there has been a
real transformation of the environment for trading.
The introduction of the euro, which replaced more than 10
European currencies, and the use
increasing options and forex derivatives as
coverage, reduced the role of the spot trader and high
the options specialists in particular, the role
traders specializing in exotic products.

"If they had long predicted their own
disappearance, the spot traders always have a role to
play, particularly on matters beyond
50 million euros, "said David Frost, Consultant
Senior at Marshall Warburton. "However,
machines are becoming increasingly sophisticated and
records are clearly endangered. "
Richard Fraser of RJF Global Search in sharing this
point of view and added that if 2004 was good
for currency traders (with a volatility
currencies and the increasing weakness of the dollar), they
were not central concerns.

According to him, "one of the main factors influencing the
market was the abundance of exotic products. In
Furthermore, it is noted that a handful of large hedge
direct funds and forex markets are the source of
large volumes of currency exchange. "He adds that
Currency traders are now specialized
talented and technically skilled, they receive
also training on financial markets
and other financial products.

Wages in major banks engaged in an
aggressive

What was the impact on wages? David Frost
says a currency trader with five years
experience earns an average base salary
between 107,000 and 121,000 euros, a trader
dynamic working for a bank engaged
an aggressive policy (such as Bank of America or HSBC
for example) can expect a higher salary, even if
low wages exceed the ceiling of 142,500 euros.

What about bonuses? David Frost said that
Traders who reach their annual targets are
generally expect a bonus representing 100%
base salary, while those who exceed their
targets receive a "bonus accordingly." For
traders of exotic options, however, it is
not uncommon to receive a base salary of 142,500
euros. In good years, bonuses often reach
over 100%. Richard Fraser agrees with these
figures and adds that a good trader with more than five
years of experience and knowledge products
alien may sometimes win 463.000 euro wage
overall, a more senior trader can hope
earn 713,000 euros.

Trading foreign exchange returns to the mode and
Recruitment is up, the banks include
often as part of a financial strategy
overall, but this is primarily the large
groups. Barclays, Royal Bank of Scotland, Lehman
Brothers, Dresdner, Merrill Lynch, BNP Paribas
Hiring actively while Citigroup and Deutsche
Bank are always looking for professionals
quality and especially covet traders
with experience in exotics.

WAHT IS FOREX?

Forex stands for Foreign Exchange - which means foreign exchange market or currency market.
In other words, this is the place where currencies are bought and sold. In the Forex market all currencies are traded in real time.
After having been an interbank market is only in recent years opened to individuals like you and us mere investors wishing to diversify their investments or pure speculators.
It is always important to stay well informed because market conditions may change at any time in response to the news.
Access to foreign exchange market for individuals is offered through the forex brokers.

The best Brokers

Regulated by the Financial Services Commissions International, GCI is a leader in trading Forex. With over 15 000 customers worldwide, including institutional investors, GCI is a primary market maker in 'contracts for differences "on stocks, indexes and futures, which offers one of the trading systems more efficient and reliable market.

What is Currency Tranding?

Currency trading is when you buy and sell currency on the foreign exchange (or "Forex") market with the intent to make money.

How forex works:

The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.

Exemple of a Forex trade:

The EUR/USD rate represents the number of US Dollars one Euro can purchase. If you believe that the Euro will increase in value against the US Dollar, you will buy Euros with US Dollars. If the exchange rate rises, you will sell the Euros back, making a profit. Please keep in mind that forex trading involves a high risk of loss.