The foreign exchange market (forex) is primarily used to facilitate trading of international currencies. Forex knowledge is useful for investors or those desiring careers in finance. To get training in this subject, students can attend online seminars. Courses in the field may also be included within broader associate's, bachelor's and master's degree programs. These programs may be offered entirely online or in hybrid formats that require some on-campus classes.
Online forex training opportunities are available from several sources, including postsecondary institutions as well as private companies, banks and investment groups. However, the United States Commodity Futures Trading Commission (CFTC) advises consumers to be wary of potential foreign currency trading scams (www.cftc.gov). Students should carefully examine the background or sponsorship of the training group, as programs vary widely in terms of quality.
Financial institutions like the Federal Reserve Bank of New York periodically offer online seminars or webcasts on forex techniques (www.newyorkfed.org). In addition, international banking organizations often have currency-related educational programs, reports and videos on their websites.
Forex.com (www.forex.com) is a corporation specializing in opening the currency market to retail investors. Its website provides multiple free opportunities for currency market training, including videos, articles, webinars featuring expert traders and web-based training courses. The company also offers a free 30-day practice account.
Associate's and Bachelor's Degrees
These programs in business and finance are available online at accredited for-profit universities. These degrees are also available online at several traditional campus-based universities, including some accredited by the Association to Advance Collegiate Schools of Business International (AACSB International). Online studies may be asynchronous, allowing students to complete studies at their own pace, or synchronous, requiring scheduled participation.
At the undergraduate level, students gain basic knowledge about finance through core courses like financial accounting and introduction to finance. Students may focus on international finance and globalization through electives. Related topics include financial institutions and markets or multinational financial management. These programs may be available in online or hybrid formats, combining Web-based participation with some campus attendance.
Many MBA programs are available entirely online, and some are offered in cohort format, allowing students to go through the entire program with the same set of peers. Students can study currency markets as part of advanced accounting or finance MBA programs, preferably at an institution with a strong international business program. International finance courses focus on global financial markets and exchange rates. Other relevant subjects in MBA and executive MBA programs include the following:
- Foreign currency pricing
- Currency markets
- Options and financing
- Short-term returns
- International money market efficiency
- Exposure management
Students who are looking for specific forex training can find it online through several reliable institutions. Those who seek more comprehensive preparation for careers in business or finance may enroll in an online degree program, some of which may also include coursework in forex.