Imagine you could earn commissions simply by helping other Forex traders with your knowledge and expertise — how cool would that be？ Say, you run a blog site, a YouTube channel or an Instagram account with a large fan base, and other traders turn to you for advice on how to improve their trading technique, a Forex IB role can be an excellent fit for you!
Who is an Introducing Broker (Forex IB)？
A Forex Introducing Broker, also known as a Forex IB, is a significant player in the global trading market. A Forex IB is typically a business partner who works with Forex brokerage firms to bring in new clients to the firm and earn a commission for doing so. They can be either an individual or a business entity that acts as a middleman between the brokerage firm and the trader.
Forex IBs are very critical to the success of Forex brokers as the Forex market grows rapidly with fierce competition. A Forex IB achieves this by typically providing its followers (clients) with a variety of trading resources and value-added services that include consulting services, educational materials, and signals to execute trades, all to encourage them to stay with them.
What does the Forex IB program mean？
A Forex IB program is a partnership between the genius minds involved in the Forex market and the brokerage company that wants to expand its business. It is more of a win-win situation for the brokerage firm and the Forex IB to work together. While the Forex brokerage firms gain new members that sign up and trade on their platform, a Forex IB gets paid a commission for each trade the referrals execute. Rebates are the incentives a Forex IB receives in exchange for their service.
Who can become a Forex IB？
Anyone with a solid background in Forex trading, combined with the ability to convince people can become a successful Forex IB.
You dont need to spend millions of dollars on licensing, deposits, and other associated costs to become a Forex IB. Any individual interested in finance and having a strong online presence is also advantageous, for example, owning a popular website, Instagram page or YouTube channel can benefit greatly from the forex IB program.
You will also succeed as a Forex IB if you have excellent people skills, a little patience, and the ability to close deals. A solid clientele base will help you reach more people through word-of-mouth. Introducing brokers can also find clients using online reviews and personal recommendations. Dont forget that a successful Forex IB of today was once a mere demo lead, and many forex brokers of today started out as simple IBs and networkers.
Read How to Start a Forex IB Business: 5 Things to Consider to create a successful Forex IB business venture.
How does a Forex IB make income？
Forex brokerage firms use rebates as a means to distribute commissions to their partners and affiliates. The term ‘Forex rebates’ refers to a credit or cash back that brokerage firms give to their customers and merchants as a reward for completing transactions. The beauty of the Forex rebates is that they are available indefinitely, regardless of the period or number of purchases.
Various reasons motivate Forex brokerages to offer rebates. Forex rebates can be a very effective way of encouraging new and existing customers to trade more and get cash back. Furthermore, Forex rebates are a great way for trading professionals to earn extra cash by introducing new clients and customers to the brokerage. In other words, the more transactions introduced clients make, the more profit (rebates) the Forex IB will make.
Every Forex IB program has its own commission structure. Some common commission structures include the following:
Each time a new trader registers and starts trading, a one-time commission is paid
There is a recurring commission for the volume generated by referred clients
Commissions are also paid for losses incurred by referred clients
Referring to a large number of traders or trading a large volume will earn you a Forex bonus commission
Be sure to check out What are Forex Rebates？ How can IBs Profit from Rebates？ for a thorough understanding of this topic.
Benefits of becoming a Forex IB
For individuals to step into the online trading world and forex trading business, its crucial to understand a few key facts about the markets. The following are some of the benefits of becoming a Forex IB.
1. Entrepreneurial growth prospects.
Forex trading businesses have become one of the most trendy and attractive ways to achieve financial freedom and have a prosperous career. With the easy-to-use technology and numerous ways to prosper, many young investors are invading the Forex industry to establish themselves as Forex entrepreneur.
“If you are passionate about becoming an entrepreneur, becoming a Forex IB will be a rewarding experience and your growth will be even greater.”
A Forex entrepreneur is not just a trader or an investor, they are also financial influencers, business partners, affiliates, and digital marketers. A forex entrepreneur identifies and exploits lucrative opportunities in order to generate income. They build a personal brand; they constantly look for ways to improve their services in order to bring added value to users and to differentiate themselves from their competitors. Those are the qualities that truly distinguish a successful Forex IB.
2. Multiple ways to boost your profits.
Unlike retail and e-commerce which offer a one-time commission per code, forex commissions (rebates) are a lifetime percentage based on the trading activities of the IBs accounts. Hence establishing a forex business network can provide extremely lucrative results in the long run. The retainer business model of Forex IB ensures a steady income flow over time.
Referral marketing is one of the well-established programs in forex trading, and it offers a variety of options to generate revenues:
Forex IB Commission: This commission model is extremely effective and considered a joint venture between an IB and a broker. This model is also classified as involved affiliate marketing, and you are committed in a variety of ways to the consumer or the trader. As part of the business network, youll provide customer support, educational resources, and local deposit transfers. It offers a big potential to scale up your Forex IB business by applying different tactics like business networking, retentions, offline events, and promotional marketing.
Traffic & Lead Generation: This model provides traffic and leads by using different schemes of cost per thousand impressions (CPM), cost-per-click (CPC), and cost-per-lead (CPA). Entrepreneurs who have established channels or experience in digital marketing can profit from this type of marketing. Even though it offers some revenue from Forex, it doesnt help you develop direct relationships with traders and investors.
Marketing IB (MIB): This earning model also falls under affiliate marketing and involves creating a marketing channel and social media presence, such as a YouTube channel, an online portal, blog, or group. By sharing the IB link or code, you can generate profit from the links you are sharing as well as generate more followers to your own channels.
For you to maintain a successful reign, remember that in a sense, you will be dependent on the information and support you provide.
3. The benefits go far beyond commissions.
Yes, you read that right! The forex partnership program provides much more than just trading commissions and rebates. Many top Forex brokerage firms are providing their IB clients with extensive sponsorship opportunities, including workspace, local teams, and other incentives.
Additionally, you can benefit from these Forex IB partnerships by hosting events, covering business travel expenses, and having them advertise on your social media channels. Shortly, partnering with one of the top brokers can help you build your business and network more quickly and obtain the funds you need to become a successful entrepreneur.
Upon having a successful reign as a Forex IB, you will eventually develop a network of investors and earn high levels of trust. Ultimately, you will meet investors in different assets like stocks, gold, cryptocurrency, etc., since most market participants are also entrepreneurs and businessmen.
4. Being a Forex IB gives you more freedom.
The career prospects as a Forex IB are significantly different from the lifestyle youll experience from a typical 9–5 job. Initially, becoming a Forex IB can be difficult as you need skills, expertise and a good following. As your clientele grows, you now have the opportunity to explore new opportunities abroad or set up an office in your hometown where you will be able to focus on growing your business there. Many people consider this type of career to offer a unique level of freedom since nobody would turn down the opportunity to grow their own business and live the life they want.
As opposed to affiliate marketing, Introducing Broker programs offer you a unique opportunity to tailor a personalized experience according to your brokerages services. Through this freedom, you can enhance your offering to attract more clients. The brokerage may not be your only source of income, if you give something more you will be more successful. By focusing on what clients value — as mentioned earlier — you can attract high-value customers that can boost your IB commissions and also potentially increase your revenue from YouTube and blog posts.
5. A cost-effective way of generating revenue.
Getting started with a Forex IB program is appropriate for anyone and is totally cost-effective; all that is required is a sufficient number of followers. A method of earning revenue in this way is definitely better than investing in some marketing initiatives that could result in a negative ROI.
Many Forex brokers who work with Forex IB also provide them with promotional tools and content for free. This way, you can avoid spending money and time creating marketing materials and rather focus on using the marketing tools to gain new referrals. However, it is impossible to achieve an infinite profit margin. Since the revenue you earn as a Forex IB is performance-based, you will only be paid if you continuously bring new clients to the broker in order to earn commissions.
Signing up for the Best Forex IB Program
Choosing a Forex IB program that‘s right for you is the first and most important step to achieving success — both in terms of the broker and the commission structure. Forex IB business is increasingly popular as they have proven to work and to be mutually beneficial for both parties. It is still imperative that you partner with a reliable and regulated Forex broker in order to accomplish this. That is where AximTrade differentiates itself from the rest. Here’s the AximTrade Review for you.
As a representative of your followers and clients, you have the responsibility to verify the trustworthiness and reliability of the Forex broker to partner with. Without this, scammers will end up getting you and destroying all your good reputation. You can stay safe by following this guide about Forex trading scams.
Having found a trustworthy and reliable Forex broker through thorough research, you can now open a Forex account, sign up as a partner, get your partner ID, and start referring prospects. Heres a video demonstration of how to get your Partner Referral Link with AximTrade.
https://youtu.be/3jR49Z5Gzs0
Original Article: Forex IB: 5 Benefits of becoming an Introducing Broker
Disclaimer: This post is from Aximdaily and it is considered a marketing publication and does not constitute investment advice or research. Its content represents the general views of our editors and does not consider individual readers personal circumstances, investment experience, or current financial situation.
