Introducing broker is a rewarding and exciting career. As Forex grows and new demographics rapidly emerge more and more people are realizing that they can forge successful careers as introducing brokers.
Introducing brokers are of great use to brokers and traders alike and as such their impact on the market has been overwhelmingly positive. An introducing broker doesn´t trade Forex, though he is expected to know a bit about the process. The introducing broker´s job is to explain the potential of Forex trading to would be traders. The IB then talks the client through the process of opening an account, getting to grips with their trading software and making their first trades.
Brokerages love introducing brokers because they bring in lots of high caliber traders and help to improve the overall standard of trading in the company. When a brokerage is really impressed with an introducing broker they will offer them a white label; this means that the introducing broker works exclusively for that brokerage. As full member of the company a white label introducing broker enjoys the added advantage of working under a trusted brand.
For new traders a good introducing broker is a godsend. Traders who aren’t too technically minded are often baffled by the more complex features of Forex trading software; an introducing broker can talk them through it step by step until even the most advanced features are mastered.
In addition an introducing broker can give advice as regards what trades are sensible in what contexts. Finally an introducing broker is the best way for new traders to meet other important players in Forex. Top quality contacts can be a great source of Forex analysis that help a trader make profitable trades.
Most online brokerages offer some sort of introducing broker program. They usually look for people who have easy access to people who might be interested in trading Forex, for example people who work in the financial services industry.