Over the past 10 years, Cyprus has established itself as a hub for financial services, with a particular specialisation in retail forex trading. Many big name European FX brokers have established offices in Cyprus. Attracted by the low tax system, minimal regulation and the relatively easy to obtain Cyprus Investment Firm (CIF) licence. As a result, the number of brokers has grown from just 17 in 2003 to more than 125 today. That means there are plenty of foreign exchange firms looking for staff that have the required skills to operate in this exciting and dynamic sector.
What kind of Forex jobs are available?
The world of forex is vast; this industry truly has something to offer anyone looking for a rewarding well-paid career. A varied range of jobs is available, from entry-level account managers and sales representatives to lawyers and even software developers. So no matter what kind of skill set you have. There is a good chance that you find a job in Cyprus working for one of the many forex brokers. A quick look at our jobs board shows there are always a number of junior dealer and monitoring officer positions available, along with various back office roles.
What qualifications will you need to get a job in forex?
The qualifications required will depend on the role you are applying for. While forex jobs in Cyprus are plentiful, the competition can be fierce. So it’s a good idea to make sure you have the required qualifications before you apply for a role. Typically, a junior trading role will require a bachelor’s degree in finance or economics and good knowledge of the English language. It’s also a good idea to get CySec certified. This certificate proves you have the required knowledge of the forex market. And it will almost certainly put you at the top of the list for an interview. You can take a CySec course online and study at your own pace to get certified.
For account management and sales executive roles, a degree is not necessary. But you will need to be able to prove that you can work well under pressure and meet sales targets. You may also be required to speak a second language, though this will be specified in the job description. Typically, there is less competition for these roles, so if you are fluent in the required language you stand a good chance of getting the position. A role as a sale representative or manager in another sector should stand you in good stead for an account management role in forex. Good knowledge of foreign exchange markets is also a must; you don’t need to be CySec certified for a sales position but it might be a good idea to get certified anyway to prove you have the required forex knowledge. This also opens up other job opportunities once you have your foot in the door.
Continious professional development
As with any worthwhile career, a job in forex is rewarding and well paid once you have a little experience. But competition for jobs in Cyprus can be fierce, so it’s important that you do your homework, and if you’re not successful the first time, don’t give up. If you really want to speed the process up, we recommend getting CySec certified as this will certainly put your C.V. at the top of the pile and will greatly increase your chances of getting a job in this ever-growing and dynamic market.