Chapter 1 - Introduction

• What is Foreign Exchange
• What is a foreign Exchange market?
• Foreign Exchange is an OTC Market (Over The Counter)
• Market Participants
• Size and structure of the global FX market 
• FX market sessions: London, New York, Tokyo, Sydney

Chapter 2 - History of Foreign Exchange

• Gold Standard
• Main Stages of Recent Foreign Exchange Development
• Important landmarks of Currency Markets
• Rise of electronic trading and FX platforms

Chapter 3 - Foreign Exchange Basics

• Rates of Exchange
• Primary and Counter Currency
• Market Maker and Market Taker
• Bid/Offer Rate
• Middle Rate
• Cross Rates
• Pips, lots, and leverage — standardised FX trade terminology
• 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

Chapter 4 - Foreign Exchange Risks

• Effect of fluctuations in exchange rates: exposure and foreign exchange risk
• Exchange Rate Risk
• Interest Rate Risk
• Credit Risk
• Country Risk
• Liquidity Risk in FX markets
• Operational Risk and Settlement Risk (Herstatt Risk)
• Geopolitical and sanctions-related FX risk
• How to manage your risk
• Trading psychology and behavioural biases in FX risk management

Chapter 5 -Kinds of Foreign Exchange Market

• Spot Market
• Forwards Market
• Currency Forward Swaps
• Futures Market
• Strategies using Currency Futures
• Hedging using Currency Futures
• Currency Options
• Cross-currency swaps (CCS) 

Chapter 6 - Currency markets in India

• Product Specification
• Uses of Currency Futures at NSE
• Membership
• Clearing, Settlement and Risk Management
• FEDAI rules and guidelines for authorised dealers
• FEMA — regulatory requirements for residents and non-residents
• Liberalised Remittance Scheme (LRS) and forex facilities for resident Indians
• NRI deposit schemes (NRE, NRO, FCNR) and investment facilities
• RBI intervention mechanisms and India's exchange rate management

Chapter 7 - Fundamental Analysis

• Economic Fundamentals: Theories of Exchange Rate Determination
• Economic Indicators
• Financial and Sociopolitical Factors
• Sentiment analysis: COT reports, retail positioning data, risk-on/risk-off environment
• News trading and event-driven strategies around economic releases

Chapter 8 - Technical Analysis

• The Fundamentals of Technical Analysis
• Types of charts
• Trends, Support and Resistance
• Trend Reversal Patterns
• Trend Continuation Patterns
• Gaps
• Key technical indicators: RSI, MACD, Bollinger Bands, Moving Averages (EMA/SMA), Stochastic
• Fibonacci Analysis and Elliott Waves Theory
• The Elliott Waves
• Candlestick patterns: Doji, Hammer, Engulfing, Morning/Evening Star
• Multiple time frame analysis

Chapter 9 - Treasury

• Role of Treasury
• Front Office
• Back Office
• Middle Office — risk monitoring, P&L attribution, compliance
• Credit Control
• Investment Bank
• Treasury Management Systems (TMS) and trading platforms (Bloomberg, Reuters Eikon)
• Regulatory compliance: KYC/AML in FX, EMIR/Dodd-Frank reporting, FX Global Code of Conduct
• Largest Full Service Investment Banks that hire Foreign Exchange Traders and Analyst

Chapter 10 - FX Regulation, Compliance and Ethics

• The FX Global Code — BIS principles of good practice 
• AML/KYC obligations for FX dealers and treasury professionals
• Sanctions compliance and restricted payments in FX transactions
• Market conduct, insider trading, and FX manipulation (LIBOR scandal lessons)
• Dodd-Frank, EMIR, MiFID II — global FX reporting requirements

Chapter 10 - Digital FX, Fintech and Emerging Trends

• Algorithmic and automated FX trading — HFT, execution algorithms, trading bots
• FX payment rails: SWIFT, SEPA, RTGS, Target2, UPI for cross-border payments
• CBDCs (Central Bank Digital Currencies) and their impact on FX markets
• Cryptocurrency as a FX asset class — Bitcoin, stablecoins, DeFi impact on traditional FX
• SOFR transition — impact of LIBOR replacement on FX swaps and derivatives
• ESG factors and their growing influence on currency and FX market dynamics

Apply for Certification

https://www.vskills.in/certification/Certified-Foreign-Exchange-Professional