Even if you just begun trading forex, you’ve most likely seen that your broker offers an affiliate / introducing broker programme. Today we’ll outline how an IB / forex affiliate program works and also provide some tips for getting started.
Understanding the Forex Affiliate / Introducing Broker Business Model
The reason that you’ll often see forex brokers offering an affiliate / IB model is that direct marketing campaigns are not the only way that forex brokers generate revenue. An affiliate program is another way for a forex broker to grow their business. The advantage of such a model is that traders or those with marketing experience can generate additional income by receiving compensation for the new clients they refer, that’s essentially the IB model.
Different Forms of Compensation
introducing broker commission will vary from broker to broker. Some firms will pay a fixed price per new account signed up while others work purely on volume. The difference really depends on the regulatory status of the broker, the size of the IB and other factors. If this is something new to you, we can help you guide you in the process of becoming a forex IB.
An Entrepreneurial Approach to Forex Trading
Becoming a forex IB / affiliate is an excellent way to take advantage of the growth of online forex trading. Those who are looking to start their own brokers are encouraged to begin the process as an IB. You’ll gain the necessary experience as it relates to marketing without the overhead of regulation, staff, and reporting costs that can often burden new start ups.
Get Access to the Best Introducing Broker Program!
Our team at Forex Consulting is happy to guide you along each and every step of becoming an IB. In addition to guidance, we can help you find the best forex ib program to partner with.
To learn more, don’t hesitate to contact us today!