An Introducing Broker in Forex is an abbreviation for the term (Introducing Broker) or (IB) and is referred to as an individual or company that helps a Forex brokerage find and retain customers and in return receives a reward from the broker, which is called a rebate. This amount varies between different brokers and can be a fixed number (for each new customer introduced) or a percentage. (An IB person in Forex is also called an introducing broker.)
How is an IB person’s income calculated in a brokerage?
IBs receive a portion of the spread or brokerage commission from the Forex brokerage based on the transactions of the introduced customers and the volume of transactions generated by these customers.
What services do IBs provide?
Attracting and introducing new clients to the Forex brokerage: A Forex IB uses various marketing and networking strategies to find potential traders and introduce them to the brokerage services.
Providing support and guidance to the traders they introduce: A Forex IB seeks the success of the traders they attract by providing trading tips and principles, market analysis and training, as the IB commission is calculated based on the activity and trading volume of the introduced clients.
Benefits of Becoming an (IB) in Forex
Low Cost
One of the big benefits of becoming an IB in Forex is the low cost of entering the financial market. You can start operating without the need for investment and using digital tools you can start your activities quickly and very easily.
Credibility and flexibility in working hours
As a Forex IB, you have high flexibility in managing your time (working hours) because by choosing and working in this field, you have a part-time job or a specific job in your spare time and you will have complete control over time management for marketing and sales.
Passive income
One of the attractive benefits of becoming an IB in Forex is passive income. In fact, you can earn a significant income without investment or with very little and limited investment, from the amount of transactions and the volume of transactions made by introduced customers.
No need for trading experience
To get started, you do not need to have deep experience in trading. One of the marketing skills and abilities of an IB is just having enough information about the Forex market and introducing it to customers. This item will be an exceptional and unique opportunity for people who are very interested in the Forex market and want to enter the world of trading.
Access to Marketing Tools
Forex companies provide IBs with free marketing tools. These tools include links, banners, and advertising resources that help them market easily and attract new customers.
Who can become a Forex IB?
To become a Forex IB, individuals or organizations need to have sufficient knowledge and awareness of the Forex market and brokers. This information includes familiarity with how brokers work, types of financial instruments, and the trading process, as well as the ability to market and attract customers.
Marketing skills and access to market information, having a website, creating advertising strategies, being active on social networks, and using sales techniques can help IBs quickly attract new customers, and the organization operating in this field can operate effectively.
When is the rebate credited to the trader’s account?
Rebates are usually credited to traders’ accounts periodically. These periods, which are usually monthly, can also be set weekly or daily. MetaGold brokers deposit these amounts daily to honor the values of their representatives. Brokers automatically calculate the rebate amount using account management systems and deposit it into the (IB) account.
Rebates are usually calculated based on the volume of trades made by clients introduced by IB individuals. At the end of the period, brokers calculate the rebate and deposit it into the IB account. This method helps traders make the best financial decisions.
What is a referral code or a famous code in Forex?
The referral code or reference code in Forex appears as an important feature in the registration process and communication with brokers. This is the key code that is assigned to the IB person by the broker to allow the introduction and registration of new customers with the IB person’s referral code, and this is the basis for identifying customers and calculating the income of IB persons.
To become a trading partner, follow these steps:
Login to the user panel: Log in to your user panel using your username and password.
Select Referral programs: Click on the Referral Programs option in the menu and then select the Dashboard option.
Submit a request: Click on “Become a Partner” to join the MetaGold community of partners. After submitting the request, the broker’s support team will review your request.
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