With the development of science and technology today, along with the age of economic sharing, Introducing Broker – IB is becoming a very hot job, especially for young people, because of many benefits it brings. So what is IB? Is this job as easy as people often think?
What is IB Forex?
IB – Introducing Broker, also known as financial broker, is the simplest form of cooperation between you and Brokers, exchanges.
A certain trader after completing the registration to become an IB of an exchange, your job is to find and introduce investors to Exchanges and receive commissions from customer transactions.
When IB introduces a client to open a trading account, the International Exchange will pay an amount of wage to IB.
This remuneration is the amount of money paid by International Exchange to IB, not related to the customers opening account and they will neither have to pay any money to IB nor have to pay a cost for the Exchanges.
A trader can increase his or her income from an IB job
These IBs are essentially traders, have actually tried the product that means exchange, then found a good product and through their influence to introduce others to participate in that exchange to trade.
Usually, the broker will pay commission for IBs deducted from the spread of new traders they get when players trade, which is also the cost they pay for advertising.
How IBs work?
The methods of an IB working is very simple
After a trader opens an IB account of any exchange, that trader is granted a referral link for IB.
By advertising the service of the exchange to potential customers, eventually attracting them to open their accounts and trading with the exchange, you will receive a commission every month depending on the volume of customer transactions. Then start receiving IBs’ commissions for their clients.
This diagram below shows how IB works in the forex market
What are benefits of an IB?
Obviously IB is one of the expansive forms by introducing very attractive exchanges.
Therefore it has many benefits underneath:
1. There is a commission program, the more guests join, the more money.
2. There are many options for the commission program, variety to choose from and the better your business is, the higher commission rate you are paid.
3. Transparent and flexible payment
4. There may be support for multiple payment gateways online, including e-wallets that you can use safely and withdraw your commission effectively.
5. Exchange often support friendly multilingual to pull guests.
6. Staffs are always enthusiastic, ready to guide and support.
7. Secure and fast access to your personal data, customer trading results, commissions updates and profits.
8. Exchange often supports promotional tools. If you have a website, facebook channel, youtube channel, …
You can market your IB link through banners, widgets, booklets, email templates, Facebook covers and many other social channels to help you promote your business. IBs can earn big rebate money if they develop effectively and reputably.
Advantage of an IB
Unlike an ordinary employee, IB is a person who often has free time and does not be underpressure about sales
You control of your full time and your IB job, do not have to report to anyone and do not suffer any pressure in terms of sales as other sales jobs.
Having opportunity to interact with many different exchanges, gain experience about the exchange and have a perfect environment for learning and communicating. It is also possible that you will have the opportunity to meet a lot of good traders and learn, share experiences from them, help you increase your analytical and trading skills.
In general, the simplest job of IB is to introduce exchanges, guide customers to open an account, instruct customers to deposit and withdraw money.
However, if you just stop that level, it will be very difficult for you to expand and retain customers, and your income is very small, which is also the disadvantage of being an IB. To develop many truly potential customers, you must bring real value to customers as a consultant of trading strategies for them.
If you are an IB, it also requires you to work seriously, effort in your work to achieve success.
Synthesized by top4forexbrokers.net