The Foreign Exchange Markets can be an exciting career for those who have an interest in the field of finance. The Forex markets give detailed understanding of the process of buying and selling currencies. This field includes the role of Foreign exchange dealers who work independently or for a company with a huge volume of currency exchange transactions. Moreover, they also work for banks or international money exchange.
Vskills Certified Foreign Exchange Professional
Vskills certification in foreign exchange gives candidates a chance to enhance knowledge and understanding in financial markets in the world, trading including bank’s foreign exchange and treasury department, risk management, and practical aspects of foreign exchange markets. Candidates on becoming Vskills Certified foreign exchange professionals will get various job opportunities in areas such as retail banks, investment banks, research firms, and treasury departments of various MNCs. Moreover, this certification will unravel the complexities and help you gain a comprehensive understanding of foreign exchange markets. Vskills certification in foreign exchange covers various aspects of trading, bank’s foreign exchange and treasury department, risk management, etc.
Vskills being India’s largest certification providers gives candidates access to top exams as well as provides after exam benefits. This includes:
- The certifications will have a Government verification tag.
- The Certification is valid for life.
- Candidates will get lifelong e-learning access.
- Access to free Practice Tests.
- Candidates will get tagged as ‘Vskills Certified’ On Monsterindia.com and ‘Vskills Certified’ On Shine Shine.com.
Career in Forex Trading
Due to its high liquidity, a 24/7 schedule and easy accessibility for people with a financial background, forex trading has become a common profession for the industry. You have enough incentive for both young graduates and seasoned professionals to consider forex trade as a career, to be your own boss with the ease to make money from your laptop/mobile. Let us dive deeper into the career opportunities in Forex Trading.
Course Outline for Certified Foreign Exchange Professional
Introduction
- What is Foreign Exchange
- What is a foreign Exchange market?
- Foreign Exchange is an OTC Market (Over The Counter)
- Market Participants
History of Foreign Exchange
- Gold Standard
- Main Stages of Recent Foreign Exchange Development
- Important landmarks of Currency Markets
Foreign Exchange Basics
- Rates of Exchange
- Primary and Counter Currency
- What is a market maker
- Bid/Offer Rate
- Middle Rate
- Cross Rates
- Factors affecting exchange rate fluctuations
- Supply and demand
- The Balance of Payments
- Confidence and speculation
- Central bank intervention
- Exchange Control
- Interest rate differentials
- Leads and Lags
- Hot Money
- Major Currencies
- Fixed, Floating and Dirty Float
- Trading Terminology
Foreign Exchange Risks
- Effect of fluctuations in exchange rates: exposure and foreign exchange risk
- Exchange Rate Risk
- Interest Rate Risk
- Credit Risk
- Country Risk
- How to manage your risk
Kinds of Foreign Exchange Market
- Spot Market
- Forwards Market
- Currency Forward Swaps
- Futures Market
- Strategies using Currency Futures
- Hedging, speculation and arbitrage
- Currency Options
Currency markets in india
- Product Specification
- Uses of Currency Futures at NSE
- Membership
- Clearing,Settlement and Risk Management
Fundamental Analysis
- Economic Fundamentals: Theories of Exchange Rate Determination
- Economic Indicators
- Financial and Sociopolitical Factors
Technical Analysis
- The Fundamentals of Technical Analysis
- Types of charts
- Trends, Support and Resistance
- Trend Reversal Patterns
- Trend Continuation Patterns
- Gaps
- Fibonacci Analysis and Elliott Waves Theory
- The Elliott Waves
Treasury
- Role of Treasury
- Front Office
- Back Office
- Credit Control
- Investment Bank
- Largest Full Service Investment Banks that hire Foreign Exchange
- Traders and Analyst
Preparation Guide for Vskills Certified Foreign Exchange Professional
Candidates preparing for the exam should understand the importance of exam resources. As during the exam preparation, it is essential to get all the required exam study resources. This will provide an advantage to understand the concepts and meaning more accurately. In the Certified Foreign Exchange Professional exam preparation guide, we will discuss some of the most important resources to help you prepare well for the exam.
Study Resource: Exam Objectives
For every examination, the first task should be to get all the exam related details including the important contents and its topic. This will help candidates to easily start preparing for the exam and to understand things more accurately. For the Certified Foreign Exchange Professional exam the topics include:
- History of Foreign Exchange
- Foreign Exchange Basics
- Foreign Exchange Risks
- Kinds of Foreign Exchange Market
- Currency markets in India
- Fundamental Analysis
- Technical Analysis
- Treasury
Study Resource: Vskills Online LMS
Vskills Certified Foreign Exchange Professional provides candidates access to prepare for the exam using the online learning material for a lifetime. The online material for this is regularly updated. Furthermore, e-learning is bundled with hard copy material which helps candidates to improve and update the learning curve for superior and better opportunities.
Study Resource: Books for Reference
Reference Books can provide an advantage to learn and understand things more accurately. For the Certified Foreign Exchange Professional exam, there are various books available which you can find online or in libraries. Some of the books are as follows:
- Foreign Exchange Operations under FEMA by Sudhir Kochhar, Bloomsbury India
- Foreign Exchange And Forex Trading by Ankit Gala and Jitendra Gala
Study Resource: Practice Test
After understanding and learning about the Certified Foreign Exchange Professional exam topics, it is time for practice tests. That is to say, practice tests are important for better preparation as by assessing yourself with these tests you will know about your weak and strong areas. Moreover, you improve your answering skills for getting better results. So, make sure to find the best practice sources.
Prepare for Job Interview
Looking to prepare for job interview in foreign exchange, checkout these online interview questions specially designed for beginners and professionals to to ace the job interview.
