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Roles in the Forex and Currency Industries: Qualification, Salary Expectations, and Is It a Good Idea

With more than 100 currency brokerages and a similar number of authorised forex brokers, this industry employees approximately 20,000 in the UK.

Is working for a currency or a forex broker a good idea? Depends on who you ask!

Here are some selected quotes:

"Pepperstone has an excellent team culture and provides great opportunities for career development. However, the work-life balance can be challenging due to the high demands of the job."

Source: Indeed

"IG Group offers an innovative work environment with strong leadership. The company provides good career development opportunities, but it can be demanding in terms of work hours and expectations."

Source: Glassdoor

"FXCM is great for entry-level opportunities with decent pay. However, the environment can be high-pressure with some bureaucratic processes."

Source: Glassdoor

"At Currencies Direct, the work environment is positive with supportive management and good opportunities for growth. Some employees do mention challenges with work-life balance."

Source: Glassdoor

"Moneycorp has great colleagues and offers good benefits, but the workload can be high, and there are occasional communication issues from management."

Source: Indeed

"TorFX provides a supportive team environment and opportunities for advancement. However, there is high pressure to meet sales targets."

Source: Indeed

Personal View

It depends what you have in mind but it is safe to say that it is normally not the most glamorous role you can find in the financial sector in the UK (which employs 2.3m people in total). It is not the best paying, the most interesting, or has the best perks… and then on the other hand, it’s a decent job with a decent pay and some of those companies have great atmosphere and employee perk.

The currency industry is sort of a cross between traditional banking and fintech, so it really depends on where you land and in which role.

Roles and Salary Expectations in Forex and Currency Brokerage Companies

RoleTypeDescriptionQualificationsSalary Expectations (GBP)
Foreign Exchange TraderForexExecute trades, monitor market trends, manage client portfolios, provide market analysis.Bachelor’s in Finance/Economics, analytical skills, experience with trading platforms.£50,000 – £100,000+
FX Sales ConsultantForexIntroduce investment opportunities, manage client relationships, execute sales strategies.Sales skills, financial knowledge, excellent communication.£30,000 – £70,000+ (with bonuses)
Customer Service RepresentativeBothAddress customer inquiries, resolve issues, ensure client satisfaction, manage multiple communication channels.Communication skills, customer service experience.£20,000 – £30,000
Sales Conversion ManagerCurrencyContact potential clients, assist with account setup and deposits, provide exceptional customer service.Sales skills, proactive approach, customer service experience.£35,000 – £60,000 (with bonuses)
Compliance OfficerBothEnsure regulatory compliance, conduct internal audits, manage compliance programs.Bachelor’s in Law/Finance, regulatory knowledge, relevant certifications.£40,000 – £80,000
Back Office OfficerCurrencyProcess transactions, manage records, perform administrative tasks, ensure operational efficiency.Detail-oriented, experience in financial roles, knowledge of financial systems.£25,000 – £40,000
Marketing SpecialistBothDevelop marketing strategies, manage campaigns, analyze market trends, promote company services.Bachelor’s in Marketing, experience with digital tools, creative thinking.£30,000 – £50,000
Product Owner/DesignerBothManage product development, coordinate between stakeholders, ensure product meets market needs.Experience in product management/design, project management skills, technical background.£50,000 – £90,000
Client Relations SpecialistForexDevelop and nurture client relationships, enhance visibility, ensure seamless user experience.Relationship management skills, marketing knowledge, customer service experience.£30,000 – £45,000
Senior Data EngineerBothBuild and maintain data platforms, support reporting and analytics, enhance data processing capabilities.Data engineering skills, experience with data platforms, problem-solving abilities.£60,000 – £90,000
Finance ManagerCurrencyManage financial operations, oversee financial planning, ensure regulatory compliance, prepare financial reports.Bachelor’s in Finance, accounting skills, experience in financial management.£55,000 – £85,000
iOS App DeveloperCurrencyDevelop and maintain iOS applications, collaborate with design and product teams, ensure high performance.Experience in iOS development, knowledge of Swift/Objective-C, problem-solving skills.£45,000 – £70,000
Senior Compliance ManagerBothLead compliance efforts, oversee regulatory adherence, manage compliance team, conduct risk assessments.Extensive compliance experience, relevant certifications, leadership skills.£60,000 – £100,000

Are people satisfied working for forex and currency brokers?

When we look at overall satisfaction, data is showing pretty good numbers. Again, not the greatest numbers, but for the most part, people are satisfied.

CompanyTypeAverage Rating (1-5)Employee Feedback SummarySource
Currencies DirectCurrency4.0Positive work environment, good management, opportunities for growth, some complaints about work-life balance.Glassdoor
XECurrency3.8Friendly culture, supportive management, competitive salaries, high stress in peak times.Glassdoor
MoneycorpCurrency3.9Great colleagues, good benefits, high workload, management could improve communication.Indeed
TorFXCurrency3.7Supportive team, opportunities for advancement, high pressure to meet targets.Indeed
Alpha FXForex4.2Dynamic environment, excellent career development, long hours.Glassdoor
IG GroupForex4.1Innovative company, strong leadership, demanding work hours, good compensation.Glassdoor
CMC MarketsForex3.9Good work-life balance, professional growth opportunities, sometimes stressful.Indeed
FXCMForex3.6Good entry-level opportunities, decent pay, can be high-pressure, some bureaucratic processes.Glassdoor
OANDAForex4.0Supportive management, flexible hours, competitive salary, some internal politics.Indeed
eToroForex3.8Innovative work culture, opportunities for learning, high workload, fast-paced environment.Glassdoor
Plus500Forex3.7Competitive salary, good benefits, high expectations, fast-paced.Glassdoor
PepperstoneForex4.2Excellent team culture, career development, work-life balance can be challenging.Indeed
Saxo MarketsForex3.9Great global presence, strong leadership, long hours, good pay.Glassdoor
City IndexForex3.8Professional work environment, supportive colleagues, high workload, competitive salary.Indeed
Interactive BrokersForex3.7Good learning environment, decent pay, can be stressful, some micromanagement.Glassdoor
VFX FinancialCurrency3.9Supportive team, opportunities for growth, high work volume, good benefits.Indeed
FrontierpayCurrency4.0Great team culture, professional growth opportunities, sometimes stressful.Glassdoor
Lumon PayCurrency4.1Innovative company, supportive management, good benefits, high expectations.Indeed
Global Reach GroupCurrency4.0Good work environment, career development, high workload, supportive team.Glassdoor
Halo FinancialCurrency3.8Friendly colleagues, good management, sometimes stressful, decent compensation.Indeed
Smart Currency ExchangeCurrency4.1Excellent team, good career progression, work can be demanding, competitive pay.Glassdoor
Key CurrencyCurrency3.9Supportive environment, opportunities for learning, high pressure at times.Indeed
Currency SolutionsCurrency3.8Good work culture, management is approachable, sometimes high stress, good salary.Glassdoor
Currency IndexCurrency4.0Professional and friendly environment, good growth opportunities, can be demanding.Indeed
Regency FXCurrency3.9Supportive management, opportunities for advancement, competitive salary, high expectations.Glassdoor
PrivalgoCurrency4.0Innovative, great team, high workload, good benefits.Indeed
Clear CurrencyCurrency4.1Good leadership, professional growth opportunities, demanding work, decent compensation.Glassdoor
OFXCurrency4.0Strong team culture, good career development, sometimes stressful, competitive pay.Indeed
FairFXCurrency3.8Friendly environment, good management, high expectations, decent work-life balance.Glassdoor

The bad

There are some negative reviews our there as well, complaining about multiple sides of the job, whether long hours, unreachable targets or just insufficient training for staff. I guess it all depends where you land, and when you land there, as well as your role and your direct manager (as with any other job).

Where to search for jobs in the currency and forex industries?

Here are some starting points online:

NameDescriptionLink
LinkedInProfessional networking site with job postings and company profiles.LinkedIn
IndeedPopular job search engine covering various industries.Indeed
ReedComprehensive UK job board with diverse job listings.Reed
GlassdoorJob search and company review platform.Glassdoor
TotaljobsMajor UK job board with extensive listings across industries.Totaljobs
eFinancialCareersFocuses on financial sector jobs, including forex and brokerage roles.eFinancialCareers
Jobs in ForexDedicated to jobs in the forex and fintech industries.Jobs in Forex
FX Jobs BoardNiche job board for forex trading roles and related financial jobs.FX Jobs Board
Junior-Broker.comFocuses on entry-level and internship roles in financial markets.Junior-Broker
AllFXBrokersComprehensive resource for forex industry jobs and broker listings.AllFXBrokers
Forex FactoryForum with job listings and discussions related to forex trading.Forex Factory
MyfxbookCommunity and job board for forex traders and brokers.Myfxbook
Forex Peace ArmyForum with discussions and job listings for forex professionals.Forex Peace Army
FXStreetNews, analysis, and job listings for forex traders.FXStreet
Company WebsitesDirectly check career sections of major forex and currency brokers.N/A
University Career ServicesUtilize career services and job boards at universities.N/A
Industry Conferences & EventsAttend industry-specific conferences and networking events.N/A
Social MediaFollow companies and recruiters on Twitter, Facebook, and other platforms.N/A
Professional AssociationsJoin and participate in relevant associations like CFA Society UK.N/A
Recruitment AgenciesEngage with specialized recruitment agencies in the financial sector.N/A