Introducing broker agreements are quite prevalent throughout the broker community, the majority of brokers these days offer some type of rebate package to any person that refers clients to them. Some fx brokers offer more attractive rebates than others however this should not be your only consideration when deciding on which broker offers the best IB and affiliate program.
I thought that I'd write this informative article as I have been a super affiliate and introducing broker to in excess of thirty four different forex brokers, several of whom I have found excellent to work with and others which have been pretty hard. Recently I sat down and placed pen to paper making a list of a few of the imperative things that a forex provider must have in order for me to be their Introducing broker. In this breif article I'll disclose my checklist; I'd advise that you also make your own as you might have different requirements to me.
The main criteria that I look for in a forex brokers IB / referral program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Support and Pricing
4. Speedy Payouts
I will now further elaborate on each of these factors and explain why I have only a handful of favored fx brokers that I partner with and why there's only one particular broker that I send my forex traders and on-line traffic to.
Good and easy to use trading platform
Having a responsive and straightforward to use trading platform is important as an Introducing Broker for the reason that the simpler to utilise the platform is, the less queries that you're going to have and happier your customers will be. Metatrader 4 is the most typical platform forex brokers use however there are a few fx brokers like IC Markets which have modified the Metatrader 4 plaform adding additional features like one-click forex trading. It's these added functions that simplify the trading platform even more. IC Markets is one of the only providers in the world to offer a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is crucial for any IB or Online affiliate as it's crucial to track the leads that you have sent your fx broker and understand whether or not they have turned into clients. Being able to access reports that show this is vital to me. Lead monitoring reports are however just one subsection of the reports you should look for. One more key element is being able to watch your client's trades and the commission your clients have generated; numerous brokers that do not provide access to this until the end of the month. IC Markets really is my favored broker in relation to lead and conversion reporting, additionally they offer real time commission and trade reporting enabling you to monitor their clients forex trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers don't not really regard good service and pricing as main however in my opinion good service and pricing is vital as you want to ensure that your clients trade for longer and are happy with the forex broker you have referred them to. Referring your business to a good forex provider also means that your clients will trade more and you will earn more commission, it is for this reason that I now always refer my leads and clients to ECN forex brokers rather than market makers. Many people believe that the payout isn't as good with ECN forex brokers but in actual fact this is not the case at all ECN forex brokers still offer very aggressive rebates and the good thing is that generally your clients will trade more frequently, meaning more commission. From all the forex brokers that I've referred business to IC Markets has the best payout and they also give the clients that I refer them the very best spreads and service, this is why most of my clients are now trading with them.
Fast Payouts
Receiving your rebate payments fast is absolutely essential especially if you are buying leads using campaigns like google ppc that require regular cashflow. Some forex brokers don't payout for the prior month until after 15 days of the next month, others give you access to the funds instantaneously. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it's usually okay. IC Markets, the current broker that I'm referring business to has instantaneous payouts so I am extremely happy.
I thought that I'd write this informative article as I have been a super affiliate and introducing broker to in excess of thirty four different forex brokers, several of whom I have found excellent to work with and others which have been pretty hard. Recently I sat down and placed pen to paper making a list of a few of the imperative things that a forex provider must have in order for me to be their Introducing broker. In this breif article I'll disclose my checklist; I'd advise that you also make your own as you might have different requirements to me.
The main criteria that I look for in a forex brokers IB / referral program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Support and Pricing
4. Speedy Payouts
I will now further elaborate on each of these factors and explain why I have only a handful of favored fx brokers that I partner with and why there's only one particular broker that I send my forex traders and on-line traffic to.
Good and easy to use trading platform
Having a responsive and straightforward to use trading platform is important as an Introducing Broker for the reason that the simpler to utilise the platform is, the less queries that you're going to have and happier your customers will be. Metatrader 4 is the most typical platform forex brokers use however there are a few fx brokers like IC Markets which have modified the Metatrader 4 plaform adding additional features like one-click forex trading. It's these added functions that simplify the trading platform even more. IC Markets is one of the only providers in the world to offer a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is crucial for any IB or Online affiliate as it's crucial to track the leads that you have sent your fx broker and understand whether or not they have turned into clients. Being able to access reports that show this is vital to me. Lead monitoring reports are however just one subsection of the reports you should look for. One more key element is being able to watch your client's trades and the commission your clients have generated; numerous brokers that do not provide access to this until the end of the month. IC Markets really is my favored broker in relation to lead and conversion reporting, additionally they offer real time commission and trade reporting enabling you to monitor their clients forex trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers don't not really regard good service and pricing as main however in my opinion good service and pricing is vital as you want to ensure that your clients trade for longer and are happy with the forex broker you have referred them to. Referring your business to a good forex provider also means that your clients will trade more and you will earn more commission, it is for this reason that I now always refer my leads and clients to ECN forex brokers rather than market makers. Many people believe that the payout isn't as good with ECN forex brokers but in actual fact this is not the case at all ECN forex brokers still offer very aggressive rebates and the good thing is that generally your clients will trade more frequently, meaning more commission. From all the forex brokers that I've referred business to IC Markets has the best payout and they also give the clients that I refer them the very best spreads and service, this is why most of my clients are now trading with them.
Fast Payouts
Receiving your rebate payments fast is absolutely essential especially if you are buying leads using campaigns like google ppc that require regular cashflow. Some forex brokers don't payout for the prior month until after 15 days of the next month, others give you access to the funds instantaneously. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it's usually okay. IC Markets, the current broker that I'm referring business to has instantaneous payouts so I am extremely happy.
About the Author:
From my experience you actually can not go wrong with any broker as long as they meet these standards, or course as you've likely discovered already that IC Markets is my forex broker of choice and the clients that I've referred them so far are quite happy. I'm happy that I'm an IC Markets Introducing broker.
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