Becoming a Metatrader white label introducing broker can be a good option to start a successful career as a Forex IB (Forex introducing broker). There are some concepts to clarify before getting started:
-Forex market: The market in which currencies are traded. The forex market is the largest, most liquid market in the world; it is open 24 hours a day, five days a week with currencies traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. Also, any person, firm or country may participate in this market.
-Introducing Broker: A Forex IB (introducing broker) is the sales person in the Forex market. Their job is to attract possible investors to the brokerage firm and provide guidance through the process of opening an account as well as basic training and support when needed.
-White label: Is a branded, non-brokerage firm that offers currency trading services to their clients. A white label introducing broker will have an owned platform that will be provided by the brokerage firm and with the IB logo or brand. There are two types of Metatrader white label:
-Partial White Label: The IB will refer clients to the brokerage and all funding deposits will be made directly to the brokerage.
-Full White label: The Forex IB is able to accept deposits directly from their clients.
Since Forex is the most liquid market in the world, scams and hoaxes are likely to happen. By becoming a Metatrader white label of a reputable brokerage, the introducing broker will have credibility, which will be translated into more clients for the company and earnings for the IB. Another advantage of becoming a white label is that the brokerage will provide all the necessary tools to the IB; such as a website, their own fully branded platform and the company will take care of the technical aspects. With the brokerage handling these items, the IB will be able to focus on bringing in more clients to the company.
White label IBs are highly appreciated by brokerages, they enroll new clients day by day and spread the good name of the brokerage firm. As a compensation for their work an IB will earn a commission on any trade their clients make.