Forex white label programs are now a staple of most brokerages. This is no surprise as it makes sense as a business strategy for both brokerages and introducing brokers. It only takes a few hours to become an introducing broker and earn a comfortable living, so let’s take a look at what it’s all about.
What exactly does an introducing broker do?
An introducing broker searches out potential candidates to be Forex traders and helps them to start and manage their careers. Introducing brokers do not trade Forex or place orders themselves. They forward their clients’ orders to a futures commissions merchant.
What exactly is a Forex White Label?
A Forex white label means that a brokerage places particular trust in an introducing broker and allows them to operate under their name and branding. In return the introducing broker refers their new clients to that particular brokerage exclusively.
What are the advantages of having a Forex white label?
For the introducing broker there are a range of advantages. If their white label is well recognized then they will enjoy a massive boost to their credibility. Forex scams are a daily reality and considering how much money is at stake traders are extremely wary. A white label also provides an introducing broker with training and advice. By working with a white label, an introducing broker can offer their label’s services and perks as well as their own, for example advanced trading software.
Who is a likely candidate for a Forex white label?
Typical candidates are workers from the financial services sector such as bankers. This is because such professionals have easy access to a wide range of potential traders, as well as some prior knowledge of Forex trading. However anyone can become an introducing broker, all it takes is enthusiasm and good networking skills!