Introducing broker agreements are very popular in the broker community, most forex brokers nowadays will offer some sort of rebate package to anyone which introduces clients to them. Some forex brokers offer more attractive rebates than others however this shouldn't be your only consideration when selecting which forex broker offers the best IB and affiliate program.
I thought that I would write this informative article as I have been a super affiliate and introducing broker to over 34 different forex brokers, a number of whom I have found tremendous to work with and others which have been pretty hard. A short time ago I sat down and put pen to paper making a list of some of the imperative things that a fx broker should have in order for me to become their Introducing broker. In this short article I'll disclose my checklist; I would recommend that you also create your own as you could have different requirements to me.
The key criteria that I search for in a brokers IB / affiliate program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Service and Pricing
4. Fast Payouts
I will now further elaborate on each of these factors and explain why I have got only a few preferred forex brokers which I partner with and why there is only one particular broker that I send my forex traders and on line traffic to.
Good and simple to use platform
Having a friendly and straightforward to use trading platform is crucial as an Introducing Broker since the simpler to use the platform is, the fewer queries that you will have and happier your customers will be. Metatrader 4 is the most typical trading platform forex brokers use however there are a few fx brokers like IC Markets which have adapted the Metatrader 4 plaform adding additional functions like one-click forex trading. It is these additional 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 vital for any IB or Online affiliate as it's important to track the leads you have sent your broker and understand whether or not they have turned into clients. Having the ability to access reports that demonstrate this is crucial for me. Lead tracking reports are however only one subsection of the reports you ought to look for. An additional key constituent is having the ability to watch your client's trades and the commission your forex traders have produced; there are some forex brokers that don't give access to this until the end of the month. IC Markets really is my chosen broker in terms of lead and conversion reporting, additionally they offer real time commission and trade reporting permitting affilates to monitor their clients fx trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers do not not really consider good service and spreads as key however in my opinion good service and pricing is vital as you want to make sure that your clients trade for longer and are happy with the fx broker you have referred them to. Referring your business to a top notch forex broker also means that your clients will trade more and you'll generate more commission, it's because of this that I now always refer my leads and clients to ECN forex brokers rather than market makers. Some people believe that the payout isn't as good with ECN brokers but in actual fact this isn't true at all ECN fx brokers still provide very competitive rebates and the good thing is that generally your clients will trade more frequently, meaning more commission. From all of the brokers that I have referred business to IC Markets has the very best payout and they also provide the clients that I refer them the best prices and service, this is why most of my clients are now trading with this broker.
Fast Payouts
Receiving your rebate payments quickly is absolutely vital particularly if you're acquiring leads using campaigns like google ppc that require regular cashflow. Some fx brokers do not payout for the preceding month until after 15 working days of the next month, others provide you with access to the funds instantly. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it is usually acceptable. IC Markets, the current forex broker that I am referring business to has instantaneous payouts so I'm very happy.
I thought that I would write this informative article as I have been a super affiliate and introducing broker to over 34 different forex brokers, a number of whom I have found tremendous to work with and others which have been pretty hard. A short time ago I sat down and put pen to paper making a list of some of the imperative things that a fx broker should have in order for me to become their Introducing broker. In this short article I'll disclose my checklist; I would recommend that you also create your own as you could have different requirements to me.
The key criteria that I search for in a brokers IB / affiliate program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Service and Pricing
4. Fast Payouts
I will now further elaborate on each of these factors and explain why I have got only a few preferred forex brokers which I partner with and why there is only one particular broker that I send my forex traders and on line traffic to.
Good and simple to use platform
Having a friendly and straightforward to use trading platform is crucial as an Introducing Broker since the simpler to use the platform is, the fewer queries that you will have and happier your customers will be. Metatrader 4 is the most typical trading platform forex brokers use however there are a few fx brokers like IC Markets which have adapted the Metatrader 4 plaform adding additional functions like one-click forex trading. It is these additional 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 vital for any IB or Online affiliate as it's important to track the leads you have sent your broker and understand whether or not they have turned into clients. Having the ability to access reports that demonstrate this is crucial for me. Lead tracking reports are however only one subsection of the reports you ought to look for. An additional key constituent is having the ability to watch your client's trades and the commission your forex traders have produced; there are some forex brokers that don't give access to this until the end of the month. IC Markets really is my chosen broker in terms of lead and conversion reporting, additionally they offer real time commission and trade reporting permitting affilates to monitor their clients fx trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers do not not really consider good service and spreads as key however in my opinion good service and pricing is vital as you want to make sure that your clients trade for longer and are happy with the fx broker you have referred them to. Referring your business to a top notch forex broker also means that your clients will trade more and you'll generate more commission, it's because of this that I now always refer my leads and clients to ECN forex brokers rather than market makers. Some people believe that the payout isn't as good with ECN brokers but in actual fact this isn't true at all ECN fx brokers still provide very competitive rebates and the good thing is that generally your clients will trade more frequently, meaning more commission. From all of the brokers that I have referred business to IC Markets has the very best payout and they also provide the clients that I refer them the best prices and service, this is why most of my clients are now trading with this broker.
Fast Payouts
Receiving your rebate payments quickly is absolutely vital particularly if you're acquiring leads using campaigns like google ppc that require regular cashflow. Some fx brokers do not payout for the preceding month until after 15 working days of the next month, others provide you with access to the funds instantly. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it is usually acceptable. IC Markets, the current forex broker that I am referring business to has instantaneous payouts so I'm very happy.
About the Author:
From my experience you actually cannot go wrong with any broker as long as they meet these standards, or course as you've almost certainly figured out already that IC Markets is my broker of choice and the traders that I have referred them thus far are quite happy. I am pleased that I am an IC Markets Introducing broker.
