A common question that our team receives is how to become a certified forex trader? Because regulation in the forex trading industry is new when compared to long established markets like stocks, bonds, and futures, much of the rules and regulation are being written literally as we speak.
The short answer is that there is no specific license or certification required to become a certified forex trader. If you’d like to trade forex either as a hobby or professionally, all you need to do is open up a trading account, that’s it.
How To Gain Credibility as an FX Trader
With this in mind, there are various ways to prove your credibility as successful forex trader. For example, if you are interested in managing funds on behalf of investors, it helps to have a public record of your trading performance. An excellent site that is well recognized in the FX industry is MyFXBook. By using MyFXBook you can build a following over time which will help in both the credibility of your business and the ability to gain more followers.
Additionally, many forex brokers offer social trading technology as part of their overall offering. If you have a solid track record via a site like MyFXBook, you may be able to participate in these programs which are another avenue to building your credibility in the forex market.
Beware of Companies Offer Forex Certification Classes!
As a final thought, if a firm is offering a paid service to certify you as an FX trader, it may be a scam. As mentioned, there is no legal requirement or law to trade FX, don’t be fooled by a company offering such a service. Additionally, if you are concerned about a company asking you to pay money for certification, feel free to contact us for a free evaluation of the service.
Finally, if you are interested in exploring social trading applications as either an investor or a trader, don’t hesitate to reach out to our team. We are more than happy to assist you in finding the best forex social trading platform in the industry. We can also assist you in finding both reputable and regulated FX brokers to trade with.