Foreign-Exchange Trader Salary in South Africa | PayScale

We've done the research for you - we've compared what hedge fund managers make and compared this to typical Forex traders. We've looked at traders working for companies and banks, as well as independent investors who are trading directly on the markets with their own money. So if you're wondering what traders really make, you've come to the right place.

Before we share the different salary levels for traders, the first point to cover is that there are different options for building a career as a professional trader. They can be broadly broken into two categories - working for a company and working for yourself. If you're working for a company such as a hedge fund or investment bank as a day trader, hedge fund manager, or quant trader, you are an employee who is paid a base Forex trader salary, and often a commission based on performance.

Some of the benefits of being a salaried trader include:.

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If you're an independent Forex trader, stock trader or commodities trader, rather than getting paid a salary, you would trade and invest your money and pay yourself with the profits of your trades. The benefits of working for yourself include:. Are you already thinking that trading independently would be a good match for you? The good news is that you can start today with a free demo account! A demo account allows you to trade the markets risk free, so you can develop your trading strategy and learn how to use the different tools, all with a virtual account balance.

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3 Things I Wish I Knew When I Started Trading Forex

Now that you have an overview of the pros and cons of working as a trader let's look at the typical salaries for each of these traders. For traders who are employed by companies, their salaries can vary dramatically depending on the trader's specific job title, the company they work for and even the city they are working in.

Source: Payscale. So why is there such a wide range? The factors that can trader salaries include the trader's role and seniority within a company, their performance, the company they work for, and even their location.

Most people will work their way up from being an analyst years , assisting the junior and senior traders with data, after which they progress to being a junior trader. According to hours. Because this is a high-turnover industry, while the highest Forex trader salary is very high, the average gets dragged down because most traders won't make it to that level. Working as a trader within a hedge fund or investment bank is a performance-focused role, and the salaries listed above are heavily reliant on bonuses.

Whether you're trading independently or trading for a company, performance is everything when it comes to how much money you can earn. The good news is that there's a simple way you can improve your trading performance, and that's by learning from the pros. Every week, we run free webinars on the world's most popular markets and trading strategies, to help you be more successful as a trader.

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How much can a private individual earn on Forex?

Salaries also vary by company. Note that Glassdoor's salary figures focus on base pay, so these numbers could be higher once bonuses are taken into consideration.

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Note that these are all publicly traded companies. Private equity traders are a bit more of a mystery, but are known to pay much higher base salaries and bonuses than public firms.

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If we look at the Forex trader salary in the US, the highest-paying states for traders are largely on the upper east coast, according to Recruiter. While a Forex trader salary in London is higher than other cities in the UK, let's look at a comprehensive list of cities in the UK. Trader salaries here varied depending on location as well.

According to Indeed :. Now that we've covered the averages, you might be wondering, are trader salaries going down? We can't know for sure, due to being unable to find data on private hedge funds like the type you see in Billions. However, anecdotally, salary increases seem to be stalling, with fewer traders needed as electronic trading continues to rise. So what does this mean for you? If you're interested in trading, fortunately there is another method, which is trading for yourself. What we've covered so far is the Forex trader salary for those who trade on behalf of a company such as a hedge fund or investment bank and that company's clients.

Now, we're going to cover the potential salary for a trader who is trading independently, using their own money. The salary calculation is different, in this case. While an employed trader earns a base salary plus bonuses and commissions, as an independent trader, your salary will be the profits of your trades. Your return on investment is the amount of profit you make on the money you trade.

Forex trader annual salary: What do the numbers say?

If you then draw on that profit, that would count as your salary. These are significantly different levels of return, and come with different requirements regarding the time you'd need to put into trading and investing, as well as the risk you'd be willing to take on. So, these are both very important things to consider when deciding what salary you'd like to earn as a trader.

The first step to building up your ROI as a trader is to get some practice trading the live markets. The good news is that you can start the process today by applying for a live trading account. Through a live trading account with Admiral Markets, you can trade thousands of global markets, access the world's best analytic tools, and trade in the world's favourite trading software - MetaTrader 5.

Simply open an account below to get started! Once you have a target profit you'd like to make, the next step towards calculating your Forex trader salary is to think about your starting capital. However, it's probably not enough for you to quit your day job. The next thing to consider is your trading costs, as these will cut into your profits and, consequently, your Forex trader salary.

For active traders this includes day traders, swing traders, Forex traders, commodity traders and more , the costs your broker will charge usually include:. All of these costs will come out of your trading profits, so it is important to keep them in mind. The good news, though, is that if you trade with a significant account balance, many brokers will offer special rates in order to get your business, which can help manage your trading costs.

Something else to consider is how your trading income might affect your salary. If your trading income pushes your total income into a higher bracket, you may need to pay more tax on that income. Let's consider the US, as an example. The dollars you earn under that figure will earn the lower applicable tax rates. With a Forex trader salary, beginners usually earn quite well, but proportionate to experience. As you can see, your average monthly profit and your starting capital can make a significant difference to the amount you pay yourself as a salary.

Once your starting capital goes up, though, so too does the salary you'll earn - even if you don't improve your profit levels. If you don't need to withdraw your profits straight away, though, that's when things get more interesting. The reason for this is because then your account balance will benefit from compounding. If you then leave your profits in the account for the following year, once again you'll have a higher balance to work with. In the table below, you can see the same levels of starting capital and monthly returns, but what it would look like if you kept everything in your account for two years.

Like with traditional saving and investing, the benefits of consistent, profitable trading compound over time, which means traders who are in it for the long haul are more likely to have higher salaries than those who stop after a couple of months. Forex traders attempt to use the largest market in the world to turn enormous profits.