Getting started in FX

Hello all,

Currently working in banking covering large corporate clients at the analyst level. Long story short i’ve discovered an interest in FX and rates and decided it’s something I want to pursue. Can anyone recommend some guides to get started? Textbooks I can buy would be great, or any papers you recommend just reading. I’ve been doing some googling, but I’m lacking so much knowledge I’m getting overwhelmed on where to start, so if anyone knows of any good FX 101 materials they can turn me to, I’d be greatly appreciative. Hopefully WSO bot makes good recs. Thank you all.

4 Comments
 

Hey there,

I'm glad to hear about your interest in FX and rates. It's a fascinating field! Based on the most helpful WSO content, here are some resources that could help you get started:

  1. "Foreign Exchange" by Tim Weithers: This book comes highly recommended. It's been praised countless times and is considered the #1 FX book by many.

  2. "Exotic Options Trading": This book was written by a Barcap derivatives trader and explains general options trading in very simple language. It then goes on to cover various 1st and 2nd generation derivatives, their characteristics, risk profiles, etc. It's also recommended for those starting in FX options.

  3. "Interest Rate Swaps and Their Derivatives": This book is recommended by a swaps trader at a BB and assigned to the interns. It's a classic read on swaps.

  4. "The Trader's Guide to Key Economic Indicators" by Yamarone: This is a great way to get a handle of the nuances of different data releases which move markets if you are working in macro.

Remember, it's okay to feel overwhelmed at first. Take it one step at a time, and you'll get there. Happy reading!

Sources: https://www.wallstreetoasis.com/forum/asset-management/sales-trading-interview-guide-gekkos-guidance-part-2?customgpt=1, S&T Literature/Books for Interns?, Aspiring Wall Street Student: Where do I start???, https://www.wallstreetoasis.com/forum/hedge-fund/book-recommendations-for-economics?customgpt=1, Best books or sources to get better at understanding economics?

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

June 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.1%
  • Citadel Investment Group 97.1%
  • AQR Capital Management 96.1%
  • Magnetar Capital 95.1%

Overall Employee Satisfaction

June 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.0%
  • Citadel Investment Group 96.0%
  • Millennium Partners 95.0%

Professional Growth Opportunities

June 2026 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 98.1%
  • D.E. Shaw 97.1%
  • Citadel Investment Group 96.2%
  • Magnetar Capital 95.2%

Total Avg Compensation

June 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (12) $423
  • NA (9) $320
  • Engineer/Quant (86) $288
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (76) $192
  • Analysts (242) $181
  • Intern/Summer Associate (28) $146
  • Junior Trader (5) $102
  • Intern/Summer Analyst (282) $96
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
DrApeman's picture
DrApeman
98.9
9
CompBanker's picture
CompBanker
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”