Investing in the Forex market is increasingly growing and gaining popularity. The Forex market displays the impact of the prospect to increase your setup. In such an exciting field as trading, there is always a demand for specialists who get an advantage over less experienced investors at the start. In this article, we have looked at a group of people called Introducing Brokers (IBs), as well as brought you the top 7 Introducing Broker programs to join in 2022.
Introducing Broker. What does he do?
An Introducing Broker (IB) acts as an intermediary between individual traders and a large brokerage firm. IBs attract clients and provides advisory services, but at the same time, a partner broker is solely responsible for the back office and providing clients with direct access to financial markets and instruments., the Introducing Broker receives a commission for his services in the form of an affiliate remuneration, depending on the volume of trades made for clients on the platform of a partner broker.
The activities of an Introducing Broker include providing services for advising potential traders on aspects and peculiarities of trading in the financial markets, supporting existing clients on basic trading strategies, and organizing marketing events to attract as many potential traders as possible. In addition, IB can provide support for promotions conducted by a partner broker, and provide recommendations to successful clients on investor accounts within the framework of trust management.
It is worth noting that attracting customers is the main function of IB, the biggest expense is advertising. IB brokers mainly invest in Internet marketing, as this method is the most effective. At the same time, IB prefers to work with companies that provide the best IB programs, programs for introducing brokers, which we will consider further in the article. These are the most promising programs for beginners in the Forex market, which will further facilitate your income growth.
Best Introducing Broker Programs
1 . OctaFX Partners
OctaFX Partners is a leading Forex Introducing Broker program, trusted by 50,000 IB professionals globally in 170+ markets since 2011. IBs in the program benefit from transparent fixed commissions of up to $12 per lot for all assets and markets, equivalent to an average of 80% of spread revenue share, which is the best offer on the market.
IBs’ high income is not dependent on the trading instruments used by clients, and the broker provides daily payments as well as 24/7 withdrawals. This is why IBs have been working with OctaFX Partners for over five years on average. In 2022, OctaFX paid out more than $55 million to its partners.
OctaFX understands the importance of maintaining the best conditions for traders, including more than 250 trading instruments, a leverage ratio up to 1:500, one of the lowest spreads on the market, 0% commission on deposits and withdrawals, a convenient trading app with a high rating of 4.5 on Google Play, and 24/7 support in 25+ languages. This allows partners to easily attract and retain traders, maximizing their income.
With this broker, partners can focus only on attracting clients, and OctaFX takes care of all the infrastructure issues. OctaFX Partners offers IBs from all over the world a ready-to-use space to run a comfortable Forex business. It includes 25+ payment methods, a personal manager, and a profitable loyalty program with monthly cash bonuses of up to $2,000.
Finally, OctaFX’s reputation as a global Forex broker, trusted by over 12 million clients worldwide, is an asset to any IB. OctaFX Partners is part of the reputable OctaFX brand, which has earned the public’s trust by winning more than 60 industry awards. It is easy for partners to work both in their countries and enter new regions since the broker is already famous in the global market.
The company has existed for about 10 years, and cooperates with partners from many countries. Their affiliate program has many awards. IB remuneration depends proportionally on the increase in the number of clients. In addition to this, the company also uses a CPA reward structure. Once a client completes the verification of documents, IB will receive a reward of up to $16. However, this reward depends on the country of the attracted client.
3. Q Options Introducing Broker
Q Options also runs a “Representative Program” for its multi-asset brokerages. They currently work with a large number of Introducing Brokers around the world. In addition, one of the main factors that attract them is the high commissions of IB – the share of commissions reaches 45%.
The registration process for the IQ Option broker’s introducers program is quick and relatively simple. IQ Options launches a highly developed multi-asset trading platform with key features that make it user-friendly for most Introducing Brokers.
eToro is perhaps one of the most popular online trading platforms.
eToro runs an Introducing Broker program and calls them Introducing Agents. By default, IA eToro is rewarded under the CPA plan.
You will also have a personal affiliate manager to guide you on how to maximize your income, as well as free promotional materials such as on-demand banners.
5. XM Global Introducing Broker Program
XM Global is a brokerage platform currently accepting traders and introducing brokers from a large number of countries.
The special thing about XM is that there is no upper limit on how much commission you can earn. Moreover, this payment is guaranteed and paid on time – every week.
The account registration process is also quite simple. It includes support for multiple trading platforms (including MT4 and MT5), multilingual platforms and customer support (available in 30 languages), competitive trading fees, and advanced risk management tools (including negative balance protection).
6. Olymp Trade
The IB Olymp trade program is profitable and advanced. In this brokerage company IBs work directly with the client. Many of them are trading professionals and financial market experts.
This company‘s affiliate program uses a revenue share model, and they offer a 50% to 60% revenue share.
Introducing Brokers is an integral part of the Forex market, as they offer many promising strategies for beginners and help them navigate the trading platform.
Individuals interested in becoming IBs should make sure they register with a reputable and transparent brokerage office to earn the trust of potential clients.