There is an assortment of designations for individuals going into portfolio management and prospective personal finance.

1. Three Tests for Forex Traders
There is an assortment of designations for individuals going into portfolio management and prospective
personal finance. In comparison the world’s largest market for financial transactions has little to offer in
the way of standard, comprehensive skill improvement programs. There is no equivalent to Certified
Financial Planner and Chartered Market Analyst for the people learning trading. Though this is a handicap
for experienced Forex traders, as they can’t flaunt a piece of paper to showcase their expertise, beginners
don’t have to be disappointed. There are alternatives that novices as well veteran traders can take
advantage of to improve their efficiency and demonstrate their skills in foreign currency exchange skills:
Series 34
This is the most relevant of exams available to Forex traders. It consists of 40 multiple choice questions
that cover basic forex indicators, forex regulatory requirements, forex trading calculations, and other
similar topics. Though the exam is not as hard as Chartered Financial Analyst (CFA) and Financial Risk
Manager (FRM) and covers only the essentials, the Commodities Future Trading Commission requires all
traders working with retail customers to pass it.
Chartered Financial Analyst (CFA)
Though a CFA program is designed for professionals aiming for a career in equity valuation and portfolio
management, Forex traders can learn a lot by enrolling in it. An important learning objective of the
program is concerned with Forex. Each student has to demonstrate his or her expertise in consolidating
financial statements of corporations operating in more than one country. Market fundamentals, that drive
the forex market, underlie this expertise. It is harder than Series 34.
Financial Risk Manager (FRM)
Like the CFA program, FRM program is not aimed at forex traders. Yet everyone from a beginner to an
experienced trader can learn much by enrolling in it. The coursework includes quantitative topics, such as
risk modeling, market risk management, and valuation. Students learning them gain a deeper
understanding of the risks involved in forex. For instance, nearly every FRM graduate learns how a
company purchasing ore from Brazil and selling it in China is prone to fluctuations in currency markets.
This knowledge is immensely helpful for those planning a career as a Forex trader.
Though there are no standardized examinations for forex traders, such as those that exist for chartered
accountants and actuaries, they can take advantage of alternatives; such as the Series 34, CFA, and FRM
exams to improve their understanding of markets and stand out from the horde of other traders who are
competing against you for your business.