IB agreements are very prevalent in the broker community, most fx brokers nowadays offer some form of refund package to any person that introduces clients to them. Some forex brokers offer more attractive rebates than others however this really should not be your only consideration when deciding on which forex broker offers the best IB and affiliate program.
I thought that I would write this information as I have been a super affiliate and introducing broker to over 34 different brokers, a number of whom I've found excellent to work with and others which have been very difficult. A short time ago I sat down and put pen to paper making a list of some of the vital things that a forex provider must have in order for me to be their IB. In this short article I will disclose my checklist; I'd advise that you also make your own as you might have different requirements to me.
The key criteria that I search 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. Fast Payouts
I will now further elaborate on each of these things and explain why I have only a few favored forex brokers which I partner with and why there's only one particular broker that I send my forex traders and on-line traffic to.
Good and simple to use trading platform
Having a responsive and easy to use platform is important as an Introducing Broker for the reason that the simpler to utilise the trading 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 several fx brokers like IC Markets which have tailored the Metatrader 4 plaform adding additional functions like one-click forex trading. It's these additional functions that simplify the trading platform even more. IC Markets is one of the only forex brokers in the world to provide a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is essential for any IB or Affiliate as it is crucial to track the prospects that you have sent your fx broker and understand whether they have turned into fx traders. Being able to access reports that show this is important for me. Lead tracking reports are however just one subsection of the reports you need to look for. An additional essential constituent is being able to view your client's orders and the commission your clients have produced; there are a few fx brokers that do not provide access to this until the end of the month. IC Markets really is my chosen broker when it comes to lead and conversion reporting, they also provide real time commission and trade reporting permitting you to monitor their clients forex trading activity.
Good Service and Pricing
Most Affiliates and Introducing brokers don't not really regard good service and spreads as important however in my view good service and pricing is vital as you want to make sure that your clients trade for longer and are happy with the forex broker you have referred them to. Referring your business to a top notch forex provider also ensures that your clients will trade more and you will generate more commission, it's because of this that I now always pass on my leads and clients to ECN fx brokers instead of market makers. Many people think that the payout is not nearly as good with ECN forex brokers but in actual fact this is not the case at all ECN fx brokers still provide very competitive rebates and the great thing is that generally your clients will trade more often, meaning more commission. From all the forex brokers that I have referred business to IC Markets has the best payout and they also offer the clients that I refer them the very best prices and service, this is the reason nearly all of my traders are now dealing with this broker.
Speedy Payouts
Receiving your rebate payments quickly is absolutely vital particularly if you are buying leads using campaigns such as google pay per click that require regular cashflow. Some fx brokers do not payout for the previous month until after 15 working days of the next month, others offer you access to the funds instantly. Although having immediate access to the commissions earned is nice so long as the payout is at the end of the month it's usually acceptable. IC Markets, the current forex broker that I'm referring business to has instant payouts so I am very happy.
I thought that I would write this information as I have been a super affiliate and introducing broker to over 34 different brokers, a number of whom I've found excellent to work with and others which have been very difficult. A short time ago I sat down and put pen to paper making a list of some of the vital things that a forex provider must have in order for me to be their IB. In this short article I will disclose my checklist; I'd advise that you also make your own as you might have different requirements to me.
The key criteria that I search 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. Fast Payouts
I will now further elaborate on each of these things and explain why I have only a few favored forex brokers which I partner with and why there's only one particular broker that I send my forex traders and on-line traffic to.
Good and simple to use trading platform
Having a responsive and easy to use platform is important as an Introducing Broker for the reason that the simpler to utilise the trading 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 several fx brokers like IC Markets which have tailored the Metatrader 4 plaform adding additional functions like one-click forex trading. It's these additional functions that simplify the trading platform even more. IC Markets is one of the only forex brokers in the world to provide a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is essential for any IB or Affiliate as it is crucial to track the prospects that you have sent your fx broker and understand whether they have turned into fx traders. Being able to access reports that show this is important for me. Lead tracking reports are however just one subsection of the reports you need to look for. An additional essential constituent is being able to view your client's orders and the commission your clients have produced; there are a few fx brokers that do not provide access to this until the end of the month. IC Markets really is my chosen broker when it comes to lead and conversion reporting, they also provide real time commission and trade reporting permitting you to monitor their clients forex trading activity.
Good Service and Pricing
Most Affiliates and Introducing brokers don't not really regard good service and spreads as important however in my view good service and pricing is vital as you want to make sure that your clients trade for longer and are happy with the forex broker you have referred them to. Referring your business to a top notch forex provider also ensures that your clients will trade more and you will generate more commission, it's because of this that I now always pass on my leads and clients to ECN fx brokers instead of market makers. Many people think that the payout is not nearly as good with ECN forex brokers but in actual fact this is not the case at all ECN fx brokers still provide very competitive rebates and the great thing is that generally your clients will trade more often, meaning more commission. From all the forex brokers that I have referred business to IC Markets has the best payout and they also offer the clients that I refer them the very best prices and service, this is the reason nearly all of my traders are now dealing with this broker.
Speedy Payouts
Receiving your rebate payments quickly is absolutely vital particularly if you are buying leads using campaigns such as google pay per click that require regular cashflow. Some fx brokers do not payout for the previous month until after 15 working days of the next month, others offer you access to the funds instantly. Although having immediate access to the commissions earned is nice so long as the payout is at the end of the month it's usually acceptable. IC Markets, the current forex broker that I'm referring business to has instant payouts so I am very happy.
About the Author:
From my experience you actually cannot go wrong with any forex broker provided they meet these criteria, or course as you have likely figured out already that IC Markets is my forex provider of choice and the fx traders that I've referred them thus far are very happy. I am pleased that I'm an IC Markets Introducing broker.