York time, and every trading desk you are likely to work on has work shifts trading constantly. A first-year trader can expect an annual base of slightly more than 64,000 with a bonus that brings total compensation to approximately 85,000. You are paid to live a life that consists of either trading or sleeping and little else. Before you get too excited about the impressive income you can make as a foreign exchange trader, consider the lifestyle required of those who make their living trading currencies. Contributing Factors, john McCarthy, managing director and head of foreign exchange trading at ING Capital Markets, LLC, describes the qualities necessary to be a currency trader as "someone with a very agile and open mind and a facility with numbers who enjoys the pressure. FX, or forex, is the exchange of foreign currencies, most notably the United States Dollar, British Pound, Swiss Franc, Japanese Yen and the Euro. If you don't have the educational credentials but can point to years of experience and a verifiable record of outstanding trading performance, you are also qualified. Commodity and currency traders median wages, according to the.S. If you trade the Asian markets out of New York, your day may start at.m. The 75th percentile salary is 131,180, meaning 25 percent earn more. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.
While this may make your job easier, and more enjoyable, it could also open doors internationally. Depending on where you live, your day may start with arrival on the trading desk by 5:30.m. Securities, commodities, and financial services sales agents earned a median annual salary of 67,310 in 2016, according to the.S. If you're eligible to work work from home data entry jobs london ontario abroad, you could also work in the same capacity for the FCA in the UK, FSA in Japan, SFC in Hong Kong, or asic in Australia. One constant about work hours in this field is that 12 hours on the trading desk is not unusual. Indeed, salary, estimate, please note that all salary figures are approximations based upon third party submissions to Indeed. Experienced traders at a major trading house can make base salaries of approximately 100,000 to 120,000, with bonuses bringing them to 150,000 to 250,000 or higher in total compensation. Banks, central banks, investment managers, corporations, and individuals all get involved in trading foreign currencies and much of this trading is in foreign currency derivatives such as forwards, futures and swaps. There's a wide range of opportunities for forex traders. Regional Comparisons, wall Street compensation came under considerable scrutiny as a result of the credit crisis of 2008, and future banking and securities industry changes may affect the way compensation is paid in the United States. It's sometimes a risky business, but one that's considered one of the most exciting and adrenaline-pumping positions within financial services. Career Outlook, the global nature of business means currency trading is a growing industry.
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