Difference Between CFT and CMT
CFT focuses on subjects such as moving averages, methods of charting, candle charts, and candle patterns, terminology of technical, Elliott wave theory, determination of trends pertaining to price, etc whereas CMT emphasizes focus on providing knowledge in aspects like terminology tools that are used in technical analysis, application of various concepts, theory, and techniques, etc.
When you think about a professional Technical Analysis course, you need to be sure before you sign up for the same. With the notes given below, you can be double sure before registering.
Below is the flow of the article –
- What is a Certified Financial Technician (CFTe)?
- What is the Chartered Market Technician (CMT)?
- Infographics
- Exam Requirement
- Why pursue CFT?
- Why pursue CMT?
What is a Certified Financial Technician (CFTe)?
A certified financial technician or CFTe is a complete professional course with 2 levels that is the Level I and Level II. For finance professionals who take a test on not just their technical knowledge and skills, they are also tested on their ethical standards and market understanding.
This course is accredited by IFTA (International Federation of Technical Analysts). This non-profit organization has its member societies in about 24 countries and makes this course available in different languages like English, German, Spanish, French, and Italian. The examination is a paper and pencil or a written examination.
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What is the Chartered Market Technician (CMT)?
Chartered Market Technician (CMT) is a designation attained globally by completing a 3 level examination and displaying basic and extreme knowledge in investment risks, specifically in portfolio management strategies.
The certification is received from the MTA, the Market Technician Association, after clearing all three levels of examination and receiving approval from the board of directors and the Admission Committee of MTA. To add to the examination, the candidate should also have three years of relevant experience.
Being a CMT, you become a join a society of investment professionals known as experts and generators of the value of money across the globe. It is an absolute complement to the logical restraints and also your financial designation. This course keeps you on the leading front of the investment industry that is never stable.
CFT vs CMT Infographics
Exam Requirement
CFTe
To clear this examination, you need to make sure that the following are achieved.
- The candidate needs to have 3 years of experience in the relevant field to start with.
- The minimum qualification required is graduation or a bachelor’s degree.
- He needs to clear 2 levels of examinations; they are divided as Level I consist of 120 questions that cover only the technical knowledge; however, the experience is not used. Level II consists of many questions as well; these questions are based on their experience. The question types are essay bases analysis and answers.
- The course is designed as a self-study course; however, local bodies do conduct training classes for these courses.
- Candidates who have cleared their MTA certification or CMT level I and II are eligible to get their CFTe certification as well.
CMT
- The minimum qualification required is a bachelor’s degree in any finance program; to add to the certification, candidates also peruse the MBA before the certification.
- 3 years of work exp in an investment management profile or professional analytical profile.
- Candidates should be a master in handling large or huge sums of finance to give estimations, develop portfolio strategies, and make decisions related to trading.
- Three levels of MTA examination needs to be cleared along with taking 5 years of the initial exam.
- The three-level examination level I concentrate on the basic knowledge, level II measures the competencies of the candidate. Finally, level III is a test of the candidate’s ability.
CFT vs CMT Comparative Table
| Section | CFT | CMT |
|---|---|---|
| Certification Organized By | CFTe is organized by IFTA | CMT is organized by MTA |
| Number of Levels | CFTe has II levels | CMT has III levels |
| Mode of examination | CFTe is a pen and paper examination | CMT Level I: 2 Hours 15 minutes CMT Level II: 4 Hours 15 minutes CMT Level III: 4 Hours |
| Exam Window | CFTe exam windows are open in 20 April 2017 and 19 October 2017 and Deadline to register Exam 1 September 2017 | Early Registration Deadline:- March 1, 2017 CMT Level III Registration Closes:- March 27, 2017 CMT Level I and II Registration Closes:- March 31, 2017 CMT Level I & II:- April 27 & 29, 2017 CMT Level III:- April 27, 2017 Cannot Guarantee availability for CMT Level I,II after March 27, 2017 |
| Subjects | Level I: Terminology of technical analysis 2. Methods of charting 3. Determination of price trends/basics of pattern recognition 4. Establishing price targets 5. Equity | Level II: Moving averages - arithmetic, weighted, and exponential., Candle charts and candle patterns., Point and figure charts, Dow Theory, Corrections: when and how far, Basic elements of Gann Theory, Basic elements of Elliott Wave Theory and much more |
| Pass percentage | The average pass percentage 70% | CMT Passing score for Level I is 79/120 and for Level II it is 106/150 CMT Level III passing score falls in the range of 120-140 points out of a total of 240 points |
| Fees | CFTe FTA Member Colleagues CFTe I $500 US CFTe II $800* US MFTA $900 US Non-Members CFTe I $700 US CFTe II $1,000* US MFTA $1,100 US | Early Registration Fees Level I: $250 Level II: $450 Level III: $450 Standard Registration Fees Level I: $350 Level II: $550 Level III: $550 |
| Job opportunities /job titles | CFTe Technical Analyst, Banker, portfolio manager, professional, etc | CMT automated trading systems, risk management, intermarket analysis, behavioral finance |
Why pursue CFT?
Certified Financial Technician is a globally recognized course with its existence in more than 24 countries. It gives you the following benefits…
- If you want to pursue or need international recognition and a professional qualification in the financial market, then CFTe is a reward for you.
- It is a globally recognized examination conducted in various languages, including English, French, Italian, German, Spanish, and Arabic, and is conducted in major cities across the world.
- This course gives you technical skills and knowledge, understanding the market, and improving your ethical understanding.
- It teaches you Algorithmic trading and how the technical analysis is impacted by the same.
- The subjects covered are interpretations, terminologies, and also basic IQ.
Why pursue CMT?
CMT is a course that is similar to CFTe. However, let us have a look at some of its benefits:
- Just like CFTe, CMT is a globally recognized course that is for candidates who want to become International Professional Technical Analysts.
- It aims to create professionals in the field of technical analysis.
- They are promoting very high ethical and professional standards in the field of financial trading.
- You are helping and guiding the candidates in gaining expertise in the professional body of financial knowledge.
- This course teaches you and gives you the ability to read various points and figures, lines and candlesticks, price perspective past, present, and future. They also learn and understand the relationships between price and price patterns and the trends, what do the trends mean, and how to understand and draw them.
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