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4 Simple Steps to Become an Introducing Broker

Today, investors have multiple ways to not only enter the financial market but also deliver their services to other users. The best and simplest way is to become an introducing broker (IB). A variety of affiliate and Forex partnership programs make it possible for experienced investors to grow a global community of followers and earn via different reward models depending on their preferences.

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The main problem is that the majority of beginners do not know where to start. They rarely have a clue of how to become an Introducing Broker, as the majority of platforms fail to deliver transparent and user-friendly algorithms.

MTrading is different. It has developed an award-winning Forex IB program letting traders promote themselves, earn daily commissions, and build a constantly growing traders’ network. In this article, we will describe 4 major steps of becoming an introducing broker.

What Is an Introducing Broker?

Before we describe the major steps of becoming an IB, we need to clarify what actually an intruding broker is. Many users associate it with affiliate marketers or White Label representatives. That is a common delusion. A Forex IB operates differently. He or she works in close connection with a chosen broker that provides a full set of instruments as a part of its custom Forex IB program.

As a rule, an introducing broker already has a ready-to-use client base. So, the idea of such cooperation is to establish a partnership between an IB and the trading platform making it possible for a partner to broaden the selection of services provided as well as increase gaining through commissions and other reward models.

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In other words, if you have the means and channels to attract as much Forex audience as possible and drive it to a specific brokerage service, becoming a Forex IB turns out to be an ideal solution, especially if you are seeking additional sources of passive income. All you need is to follow several simple steps.

4 Baseline Steps to Join the IB Trading Partnership Program

If you still do not have a clue about how to join a Forex IB program and grow your profits, consider these fundamental steps. They cover major factors that will help you not only earn but also promote yourself via advanced marketing instruments, earn different types of rewards, and keep your digital assets under control.

Step 1 – Select the Right Platform

The first and foremost stage is to find a trusted and reliable IB trading platform. It will define the overall success as well as how much you can earn as an introducing broker. The best way to check if a chosen platform is worthy is to test it in real time.

A good idea is to open a test account and try some of its instruments and features under real-market conditions. Moreover, it is an opportunity to learn about major benefits or potential downsides your traders can experience in the long run.

Also, IBs should consider the following factors:

  • Regulation and licences;
  • A variety of instruments available for trading (Forex, stocks, CFDs, commodities).
  • Online reputation, history, and reviews.
  • Supported software and trading platforms (MT4, plugins, extensions, etc.)
  • Marketing assistance and resources for promotion.

To become a successful Forex IB, you are supposed to sell top-notch trading services to your clients. So, make sure a chosen partnership program offers enough of them.

Step 2 – Close the Deal with a Selected Platform

After you have decided on a broker Forex partnership program to choose from, you need to close an official deal. In simpler words, you need to officially become a partner.

At this point, it is very important to check what they can offer (commissions, terms, reward models, customer support, ad materials, promotion channels, and other crucial factors that are of great importance for IBs).

Also, learn what kind of traders the platform is targeted at. What type of clients is the best match for it? Is it possible to bring heavy traders with huge capital or is it mainly focused on smaller investors with medium or small-sized accounts? Does it support demo or Islamic accounts? This is where you need to consider your own audience when making a final decision, as it is you who bring traffic on making sure it will eventually convert into something big.

Step 3 – Find and Refer Traders to the Platforms

Congrats! Now, you are an official IB Forex partner. It is high time we found some clients and delivered them to the platform. This is actually how you can make your revenue depending on a chosen commission.

As stated earlier, IBs work differently from traditional affiliate marketers. In other words, creating a simple website or a social page can be not enough. You are supposed to be a dedicated trader yourself. As you are going to become a mentor for your audience. The key to success is to keep them inspired and well-educated all the time.

Note: the more successful traders you have, the higher the commission. So, as a Forex IB, you need to have a keen interest in developing your traders’ abilities as well as guiding them through all phases of becoming a successful investor. This can be done through meetings, webinars, promo materials, guides, and many other tools delivered by the platform you partner with.

Step 4 – Build and Grow Your Success

The only thing left is to build a successful business model with a growing number of traders you introduce and drive to a partner broker. The best idea is to establish a strong online presence using different media and online channels.

Websites, social media channels, email marketing, newsletters, direct communication with potential followers – use all possible sources to drive as much traffic as possible to convert it into a steady income.

MTrading is an emerging IB trading platform with a rich toolkit to build and scale your business presence. Partners can benefit from a selection of branded marketing materials as well as special event sponsorships. Our IBs may claim financial support to hold conferences, seminars, and meetings that can potentially bring more traffic

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.