Remote Trading Jobs
Remote trading jobs allow individuals to work with major companies and gain experience trading forex, stocks, commodities and cryptos without needing to relocate to an expensive financial hub like the City of London. This guide will review the latest remote trading jobs, explaining how to become a trader from home, the different roles available, plus the pros and cons.
Funded trading accounts are an increasingly popular way to work as a trader from home. Individuals trade with a firm’s capital and share in the profits.
What Is Remote Trading?
Remote traders can create portfolios, conduct market analysis, manage investments and fulfil all the other duties of a typical trading job from their own home or workspace rather than in an investment company’s office. Remote trading jobs include everything from standard salaried positions with permanent contracts to freelance, commission-based roles.
Remote working was less common until the start of the Covid-19 pandemic – in 2019, only 5% of the UK’s entire workforce was working mostly from home. The lockdowns due to the pandemic forced more people to work from home and even as these restrictions were lifted, many jobs, including trading, stayed online.
Working as a trader from home is feasible and increasingly common as there are few tasks that need to be completed in person. Conducting technical and fundamental analysis and placing trades can be carried out using a laptop or computer at a desk anywhere as long as you have a fast and stable internet connection.
Types Of Remote Trading Jobs
Portfolio Manager
Portfolio manager roles can be carried out remotely using internet-based trading and teleconferencing apps. This role involves controlling clients’ investments using the goals and parameters they set out.
A portfolio manager is an important remote trading job as their performance will have a direct impact on the investor’s financial performance. The manager’s job as a financial expert is to balance risk and reward to help clients achieve their investment goals, while making it a priority to mitigate the most substantial risks to their funds.
Analyst
Traders can also work from home as analysts for trading companies and clients. Analysts are often hired to research and investigate forex, stock and commodity markets to help strategise and determine what assets should be traded and when.
Analyst roles cover a range of specialist areas. For example, a risk analyst’s role is to evaluate and find ways to mitigate risk while balancing potential gains. This is done by considering the impact of potential market volatility and how fundamental factors can affect investments.
Another example is quant trading analysts, whose jobs use mathematical models and statistics to make forecasts and advise companies on potential investments.
Individual
One option is to become a professional remote trader. Rather than working for a company and managing a client’s portfolio, you manage your own.
The difference between professional and retail trading is that professionals do not have the same restrictions and protections as retail traders. Professional traders are not bound by the FCA’s leverage limit of 1:3o for the retail market, and instead can open trades with leverage up to 1:500.
With the additional freedom comes added risk, as professional traders are not covered by protections such as negative balance protection, meaning they will need to pay back their broker if trading losses exceed the funds deposited in their account.
Working as an individual allows you to take full control of your portfolio without any input or constraints imposed by clients. Additionally, when working as an individual trader from home, you will receive all of the profits you make after paying fees to your broker or for services such as trading platforms, analysis and insights.
To become a professional trader in the UK, you need to satisfy at least two of the following three requirements laid out by the Financial Conduct Authority:
- Portfolio Size – Your portfolio must be at least €500,000 including assets and open positions and investments. Assets such as properties and gold are not included in this summation.
- Investing Experience – You need to have made at least 40 trades within the past 12 months that are deemed of significant size – at least £10,000 for equities and at least £50,000 for all other assets.
- Professional Expertise – You must have spent at least 12 months in a professional position within the financial sector which involved trading and investing.
Salaries
The salaries for remote trading jobs will vary depending on your experience level and the role.
For entry-level and junior roles, pay typically ranges between £20,000 and £30,000 per year, increasing as you gain experience. Additionally, many roles include bonus schemes and opportunities to boost profit splits after spending a few years with the company.
Salaries for experienced traders in more specialised roles such as remote algo traders can be anywhere from £100,000 per annum upwards.
How To Get A Remote Trading Job
Regardless of what type of remote trading job you are searching for, you will need to have an understanding of financial markets and be able to demonstrate your knowledge. Certain remote trading roles require a Bachelor’s or Master’s degree in a subject applicable to finance such as economics or mathematics.
Another option is to demonstrate your expertise through experience you have already gained in internships or work experience placements. While it is unlikely that you will be given much responsibility in terms of managing portfolios, they do provide valuable insight into the financial industry.
The Hiring Process
If you are interested in working as a trader from home, the process to apply for a role generally involves:
Finding A Job Advert
Companies advertise vacancies for remote trading roles on job boards such as Indeed and Reed. Another option is to find hiring managers for these companies and reach out to them directly, signalling your interest in an energy trading role, for example.
Pay close attention to the job description in the advertisement to make sure it suits your needs and qualifications. For example, a job with a strict 9–5 working day may not suit some parents, who could instead look for remote trading jobs with flexible hours.
Application
Completing an application for a remote trading job usually involves creating a relevant CV and cover letter to demonstrate that you are a good choice for the role.
Tailor your application by highlighting your relevant trading experience, including any successes you have had as a retail trader and any qualifications that demonstrate your expertise.
Interview
If your application is successful, you will normally be invited to complete an interview that will most likely be conducted over the phone or using video conference software. This is your chance to show off your skills and expertise and go into greater detail on your experience.
You should aim to demonstrate your knowledge of financial markets and understanding of the remote trading job you will be carrying out. For example, if you are applying to be an analyst, you will need to provide evidence to show you understand data analysis techniques and forecasting.
Alongside technical knowledge, your interviewer will also judge your personal qualities, particularly how well you will work within a team and whether you are a good fit for the company culture.
This is the most important part of the entire hiring process as you are competing with other top applicants for the role. For this reason, be sure to complete plenty of research into the company and the remote trading job before the interview.
Pros Of Remote Trading Jobs
- No time or money is spent on commuting
- Flexibility and options with where you work and trade
- Can apply for more remote jobs in trading as you are not geographically limited
- Many remote trading roles available to suit different strengths and preferences
Cons Of Remote Trading Jobs
- Requires discipline to work and trade efficiently at home
- Can be isolating, especially if you are have little contact with colleagues
- Tax rules can be complicated if you are working and trading for a foreign company
- Remote trading roles typically have high barriers for entry, requiring a degree or several years of experience
Alternatives To Remote Trading Jobs
Funded Account Trading
Funded trading accounts are an alternative to finding a remote trading job that allows talented traders to gain institutional backing without having formal qualifications or being tied into a contracted role.
Funded trading accounts are provided by investment companies, sometimes known as proprietary trading firms. Traders usually need to complete a trading challenge to qualify for a funded account, and this sometimes involves paying fees up front.
When they qualify, funded traders will be given an account with a lump sum of capital to trade on the assets specified by the firm. The profits are shared between trader and firm, and the profit split and amount of starting capital can be upgraded by traders who meet the company’s trading goals while also conforming to the funded account rules.
The capital amounts generally range from thousands to hundreds of thousands of pounds – in the case of Audacity Capital’s dollar-denominated funded forex trading account, the account begins at $15,000 but can reach a maximum amount of $480,000 for traders who consistently hit the firm’s 10% profit target.
Best Funded Trading Accounts
Retail Trading
Retail trading online is one of the main ways to start investing for those without trading qualifications.
A key advantage of retail trading is the suite of protective measures such as negative balance protection and limits on the amount of leverage mandated by the FCA.
While there are limitations to being a retail trader, it does offer a greater level of autonomy when compared with other remote trading jobs, such as funded accounts. This means investors can adopt any strategy they like and try out trading different assets, ranging from day trading crypto to long-term trading stocks and shares. Additionally, retail traders are in complete control of their net profits.
Top Online Brokers
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Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
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Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 6400+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
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Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
Bottom Line On Remote Trading Jobs
Remote trading jobs are ideal for those that want to pursue an investing career from the comfort of their own home. The wide range of remote jobs on offer means this can be a lucrative career path. Whether you are at the beginning of your trading career or you have decades of experience, a remote trading job could be the right next step.
If you lack the qualifications to apply immediately, you could also try funded trading accounts.
FAQ
Can I Become A Trader From Home?
Yes, but remote trading jobs often come with certain requirements. Most companies hiring remote traders search for applicants that can prove their knowledge of the financial markets. Even for entry-level roles, companies want employees that have an understanding of how the markets work. This can be gained through qualifications such as a degree or by gaining work experience in the field.
What Are The Expected Salaries For Remote Trading Jobs?
There is a wide range of salaries for remote trading jobs that are linked to your experience level. Entry-level jobs for applicants with little experience come with the lowest salaries of £30,000 per year or less. As you build experience, you can expect your yearly salary to increase gradually. Once you have been a remote trader for several years, you could receive an annual salary in excess of £100,000.
Where Can I Find Remote Trading Jobs?
One of the best ways to find remote trading jobs is through using online job boards or career-focused social media sites. Companies frequently post vacancies on these sites, and you can usually search specifically for remote roles. Popular job boards include Reed and Indeed.
Can Traders Work From Home?
Yes, there are many remote jobs that allow traders to work entirely from home without the need to come into the office. This includes roles such as a portfolio manager where you control the investments and funds of clients. Another example is a trading analyst where you research markets to help forecast future trends. Another option is funded trading accounts, allowing individuals to trade and share in the profits of a brokerage or investment firm.
Can I Work In 2 Remote Trading Jobs At The Same Time?
Whether you can hold down two remote trading jobs at once depends on the roles in question and the employer’s expectations. Freelance remote traders frequently hold down several clients at once, but if you are working for a trading firm, they will likely want your undivided focus during trading hours.