Whether you’re pursuing a career in the day or as an analyst, having a certification can help you establish yourself as a credible thought leader in space.
In this article, I will talk about the four certifications that can help your career.
Having a certification is no guarantee of success in the markets. You will still have to dedicate yourself to work; however, it demonstrates to customers that you have a basic understanding of the trade.
1. The Merchandise Trade Advisor (CTA)
Also known as CTA, the Commodity Trading Advisor is a qualified professional who can provide trading and other services to clients in the futures and options markets.
CTAs are regulated by the U.S. Commodity Futures Trading Commission (CFTC) and require membership in the National Futures Association.
Part of the requirement to become a CTA is that you will have to pass the Series 3 exam to gain NFA membership. In addition, you need your Series 3 two full years before applying for NFA membership.
Series 3 Exam
The cost of the exam is $ 125 and you need a 70% pass score on the test.
Most of Series 3 focuses on the technical aspects of trade, market terminology, regulations, and agricultural policies.
2. Certified Financial Technician (CFTe)
As its name suggests, this certification program should address technical analysis and general negotiation concepts.
The course is accredited by the International Federation of Technical Analysts (IFA). IFTA is a non-profit organization with branches in more than 24 countries.
There are two levels of the certification program.
Level I and Level II
The first course covers the first days of the Dow, up to Wyckoff, on market efficiency and theories of random march. Next, study trends, setback percentages, and regression lines.
Traders are also testing other chart concepts, such as Point and Figure.
Candidates delve into technical analysis and focus on topics such as Elliott and Gann wave theory.
The CFTe certification course is a self-study program where you only pay the fees to take the test. Most program and reading material requirements are available free of charge. The cost of the exam is $ 850 for level I and $ 1,150 for level II.
3. Certified Marketing Technician (CMT)
The Certified Market Technician is another popular certification course accredited by the Association of Market Technicians (MTA). The CMT course has three levels.
All three levels must be clarified within five years of the level I exam.
CMT has a wide following, especially in the US and has branches all over the world. To take the CMT exam, the candidate must also have three years of relevant work experience.
In addition to the above, readers in the UK should be familiar with the Society of Technical Analysts. It is a group of technical analysts based in the UK and offering diploma courses. It is considered to be at the same level as the CFTe.
However, unlike other certification courses, STA diploma courses require physical participation and the course is held every year from October to December at the London School of Economics and costs GBP 995
Who is a candidate for these certifications?
Not only day traders choose to get trading certifications. Investment bankers and financial analysts also use these courses to hone their technical skills.
This allows company employees to talk to customers who value fundamental analysis or technical analysis.
To sum up
Certifications trigger one of two emotions.
First, there are those who value certification and increase trust between the professional and potential clients.
Then there are those who consider certification to mean little or nothing. If the person has no real experience or experience in the past, certification is just a piece of paper.
So at the end of the day, should you go to school with hard blows or pay the entrance fee for any of these certifications?
The truth lies somewhere in the middle and eventually comes down to your goals.
If you want to provide professional services, a certification will help you build credibility and trust.
However, if you want to change only your own funds, the course materials can be useful. However, it is best to find a course that specifically covers business strategies.
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