Forex (FX) is the marketplace where various national currencies are traded. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. There is no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).
–Many entities, from financial institutions to individual investors, have currency needs, and may also speculate on the direction of a particular pairof currencies movement. They post their orders to buy and sell currencies on the network so they can interact with other currency orders from other parties.
If you want to go into the Forex industry, there’s usually two paths to go;
The Dealer path, this route requires you to have a deep understanding of the forex industry and will allow you to work as a trader in one of the companies. Your work tasks involve daily trading and sharing tips with the sales department to allow them to further increase usage of the companys platform.
The other path is the sales path, this route does not require you to have any deep knowledge of the Forex industry. On the other hand, your job will be to work with either customer acquisition or customer retention. As the forex industry is one of the most liquid industries in the world, that also means the commissions are high. Many sales talents travel to Cyprus and the Forex industry every week, due to the lucrative salary packages and comfortable lifestyle.