Forex IB clients have proven time and time again to learn the ropes and start profiting from Forex much faster than their independent counterparts. Modern Forex trading requires the mastery of sophisticated trading tools like Metatrader 4 and Unitrader. While much has been done to make these platforms as accessible as possible, many traders do not master the most advanced features without guidance from a knowledgeable Forex IB.
The usefulness of a Forex IB extends well beyond teaching traders how to use software. They also recruit traders for their parent brokerages. Many potential traders are simply unaware of how easy it has become to trade Forex since the emergence of online trading and accompanying innovations such as autotrading. A good Forex IB can explain the benefits as well as help the trader to open their account.
An introducing broker helps new traders to build contacts within Forex. Contacts are important for new traders because they rely heavily on other traders for advice on their early trades. Aside from the contacts they receive from their IBs, new traders can also find a great deal of advice on forums and other websites.
A Forex IB earns rebates on their clients’ trades so they are usually highly motivated to find viable new recruits and to help them be successful. Online brokerages offer the best IBs a white label. White labeling means that the IB recruits for that specific brokerage and for no other. The benefit for the Forex IB is that they are fully associated with an established brokerage; this means that the IB receives a great deal of trust as well as being able to offer the brokerage’s unique services such as exclusive software.
If you’ve ever thought of trading Forex but weren’t sure how to begin, an introducing broker can get you on the road to success in no time.