Anyone can make some kind of profit on Forex. And you don’t have to trade currencies and study analysis to do it. Forex Introducing Broker is precisely such an operating model allowing to arrange this.
An Introducing Broker (IB) is usually a partner engaged in the Forex business, e.g., running a Forex-related site, forum, or an educational center. The introducing Forex broker may be an individual or a company that receives income from each transaction completed by a client on the platform.
IB attracts clients to the partner broker’s trading platform, motivates existing clients to conduct more active trading, takes part in advertising campaigns (both held by the partner broker and their own), represents exclusively on its own behalf interests of the partner broker in the Internet (forums, blogs, etc.) or any other domain.
The main objective of IB is to attract the maximum possible number of active traders.
Any individual or legal entity can be an introducing broker. It is not essential that their activities be related to financial services. Independent financial consultants, successful traders, and all sorts of sales managers can also make good IBs. Of course, it is advisable that such an individual has a loyal client base.
All an IB Forex partner has to do is refer clients to a trading platform and get rewarded for it. Every time one of your referred clients makes a trade, you get an IB Forex commission. The program is absolutely free and available to all registered users. It’s perfect for your first step in building a broad-based affiliate network.
These are the standard FXOpen terms for IB:
The commission is paid for all closed trades of your referral and is credited at the end of the trading day. All the information about your referrals and the commission credited to your account is stored in the MyFXOpen Partnership section.
Also, FXOpen sets the following commission limits for the maximum commission you can receive.
The number of people allowed to be recruited is unlimited. The more clients, the higher the income from an IB Forex trading program. As a rule, those who have experience in marketing and/or advertising usually achieve consistently high revenues in a fairly short period of time.
The difference between the affiliate program and the introducing broker program is that IBs typically have direct contact and a closer relationship with their clients, while affiliate activities reach a larger and more general audience online. Also, the Forex IB program implies receiving a progressive rebate, while Affiliates receive a commission for each verified active trader based on the CPA model after the trial period.
To become an FXOpen IB, you need to fulfill three simple steps:
You can place a referral link on your website, in a blog, or use it as your forum signature, etc. Once an Internet user clicks such a link, goes to FXOpen website, and opens an account, they will become your referral and you will be credited partner’s remuneration (commission) from their trades. You can get your referral link in the section Partnership → Text links or generate it yourself as follows: add the tag ?agent=12345 to a URL address of a page you want to refer, where 12345 is your trading account number (or eWallet).
Read more about how to generate your referral link and profit from the IB broker Forex program here.