Introducing broker programs are fast becoming one of the main draws of any respectable online brokerage. As a result brokers are enjoying record returns and new brokers are climbing faster than ever before. An introducing broker is basically a recruitment specialist for an established Forex broker; in addition they are also teachers and advisors for their clients. IBs don’t usually trade Forex; instead they make rebates on their clients’ trades. This provides them with a great deal of incentive to seek out capable professionals who have what it takes to become prosperous Forex traders.
Brokers know that a few good introducing brokers can greatly expand the ranks of their traders as well as raise the general standard of trading within the organization. For this reason they are more than happy to part with rebates for their best earners.
Clients prefer to work with an introducing broker because they know they will receive valuable guidance along the way. Many professionals haven’t even considered a career trading Forex until an introducing broker explains the benefits to them. Online trading Forex is a relatively new industry and as such many people are simply unaware that it is really quite simple to get started and find success. Naturally enough these new traders trust in their IBs and want to continue working alongside them.
An introducing broker is vital in terms of attaining useful contacts during the early phase of a trader’s career. These contacts can often prove essential later on when traders are in need of important news and analysis on which to base their trades.
Introducing brokers are often students of Forex themselves, as such they enjoy having an opportunity to deepen their understanding of Forex and collect valuable contacts for a possible future career as a trader. Typically the best introducing brokers come from financial backgrounds which gives them easy access to would-be Forex traders.