Trading in the forex market is not a game. It is a serious endeavor that requires time and attention to undertake lest the forex trader lose his investment. The stakes are even higher when a forex corporate account is involved since the accounts are often bigger in size. From the company to the forex broker, there are people involved in making trading successful for corporations. Even in the highly automated forex trading environment today, these people are necessary in order to perform functions that have to do with research, strategy formulation, and setting up the trades among others. – (Check out all different forex trading accounts from FXCC).
Get to know these people and find out what role they play in the forex trading process:
1. The Forex Market Analyst: this person serves to gather and feed market information to the forex trader and to the forex broker. Most brokerages would have a market analyst in its staff of employees. The corporation who owns the corporate account might also have one on-board as part of its investments team. A forex market analyst’s job is to get information about significant developments in the market that could have a significant impact in the currency values. He has to be able to do the same technical, fundamental, and quantitative analysis methods that the trader of a forex corporate account should use in his own market analysis.
In forex brokerages, the market analyst is tasked with the responsibility of writing market updates that are sent to traders. As such, the market analyst does not only have to have mathematical and analytical skills, but also have excellent communication and presentation skills. Forex market analysts are often graduates of economics or business and finance courses with at least a year of experience in the actual trading process.
2. The Forex Trader: there is often more than one forex trader in a forex corporate account although it really depends on the size of the corporation and the extent of trading activities. The more aggressive the company’s trading stance is, the more traders it has in its trading bench. These traders are the ones that take the market indicators and analyze them to make the most profitable trading decisions. What these forex traders do is no different from what individual traders do – only this time, they are working with money that is not theirs. It is often easy for these traders not to be emotional on their trades since they do not own the money they are trading with. This fact does not make trading easier since these forex traders of companies with a forex corporate account should make sure that they make the right trading strategies and earn trading games for the companies they work for.
READ ALSO : Should you get a Forex Managed Accounts?
3. The Account Manager: most forex brokers have account managers that handle everything that the forex corporate account holder needs from the time the company opens the forex account to the time that he collects its gains from its trading account. Although some set ups would require the account manager to execute the buy and sell orders from the customer, account managers provide mostly administrative support services for the companies that own the trading account. This notwithstanding, the account manager should still have adequate knowledge about the market in order to give the proper advise should the corporate customers ask for it.
Open a FREE Forex Demo Account
Now To Practice Forex Trading In A Real-life Trading & No-risk Environment!