Certified Futures and Options Analyst (CFOA)

There are many financial certifications available. Unlike in other countries, in the United States, all of them are issued by private bodies with no official government affiliation. As such, the main aspects that differentiate them are the areas covered and their level of recognition.

The CFA program (Chartered Financial Analyst) is issued by the the CFA Institute, a private organization that seeks to measure and certify the competence and integrity of financial analysts. It is often regarded as the top certification for financial analysts. However, it is both time consuming and expensive. According to the CFA institute, on average, candidates spend 4 years trying to get certified. The fees are also high, ranging between $2500 and $5000, only in exam fees. This number is usually higher because it does not take into account the cost of resources, classes, traveling expenses etc.

On the other hand, the CFOA (Certified Futures and Options Analyst) is focused only on options and futures, so it is not as exhaustive as the CFA. It is also a much newer certification, which makes it less known. However, its recognition is continuously rising, and some of our partner funds, especially those focused on derivatives, regard it as a valuable asset for any candidate. Since our candidates are eligible to obtain the examination at no cost to them, we believe it is an excellent opportunity to get certified. Even if you do not end up working in the derivatives space, most employers will see financial certifications as an asset, if only because it shows that you have the knowledge and self-discipline to meet formal qualifying requirements.