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Library Building, Room 429 & 430
222-05 56th Avenue
Bayside, NY 11364
Phone: (718) 631-6297

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Occupation Info


Foreign Exchange Trader

Overview: Foreign exchange traders manage the amount of money a bank keeps on deposit in foreign banks to assure the bank can draw upon foreign currency as business needs demand. They determine at what price the currencies should be bought and sold for purposes of making profits.
Duties: Perform statistical analysis of all foreign currency, exchange rate trends with reference to benchmark currencies such as the U.S. dollar, German deutschemark, Japanese yen, & British pound.

They decide which foreign currencies to buy and sell based on expected changes in value due to either the country's financial health or political events. They strive to make profits.

They monitor the financial stability, political stability and international trade patterns for each country to detect indicators of changing value of its currency.

They assure that their bank organization has sufficient funds on hand from each country with which the organization conducts business.

Degree(s): A.A.S. Accounting 
A.A.S. Management: Marketing Concentration 
A.A.S. Management: Real Estate-Insurance Concentration 
A.S. Business Administration (Accounting and Marketing) 
Job Outlook: Employment of foreign exchange traders is expected to grow as fast as average through 2018. Employment growth will be driven by increasing levels of investment in securities and commodities in the global marketplace.
Salary Range (National Average): $38,000 to $42,000
Education Level: Typically, a Bachelor’s Degree from a 4-year college (some are 5 years) is required to be considered for this occupation.
Additional Training/Education: A bachelor's degree or a master's degree in business administration or economics with a concentration in finance and banking is the usual educational requirement for this occupation. Additional courses in international business and computer applications are essential. A knowledge of one or more foreign languages is important.
Recommended Skills:
  • Weighing out the options in a situation or a problem and logically choosing the best course of action.
  • Actively looking for ways to help people.
  • Paying attention to what other people are saying, and taking time to understand the points being made.
  • Allocating and budgeting your time for different tasks so that things get done when needed.
  • Being aware of the reactions of others, and understanding why they react the way they do.
  • Persuading, encouraging and motivating others to accept your ideas.
  • The ability to understand complex written paragraphs, instructions, or reports.
  • Using logic to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Talking, giving speeches, or speaking in a group to convey information, explain ideas, or give instructions.
  • Composing and communicating your ideas in written form.
Recommended Values:
  • Having a level of income that will afford you with luxuries, and which will allow you to become financially independent.
  • Being able to decide on how to get something done without significant direction from someone else.
  • Having a routine job where the duties are very predictable and not likely to change over a long period of time.
  • Having duties which involve frequent physical, financial, or social risk taking.
 

* National data collected by the Department of Labor between 2008-2012.
* For New York salary data information please click here
* For New York green job information please click here.

Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreements with other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services to fully understand the opportunities available through study in their degree program.