White label Forex introducing brokers tend to be a lot more successful than their free lance counterparts. Though ordinary introducing brokers might make more money from any given trade or trader, they often experience a range of difficulties as a result of operating independently.
Introducing brokers play an important role in the world of Forex. Though they don’t buy or sell currencies they help other traders to do so and introduce non-traders to the idea of trading Forex. Forex has seen enormous growth in the last decade, thanks in no small part to the work of introducing brokers who open people’s eyes to the possibility of trading.
Some introducing brokers are simply not interested in trading but would like to capitalize on their valuable contacts and networking abilities; others are developing capital, knowledge and contacts for a later career as a trader. Whatever the case, most introducing brokers benefit from a white label Forex broker.
A white label Forex broker offers the use of their good name and other perks such as software to a select group of introducing brokers. White label Forex introducing brokers enjoy a high level of recognition and credibility as a result of their affiliation. Most learn a great deal about the inner workings of Forex and collect a wide variety of valuable business contacts during their tenure as white label IBs.
While most introducing brokers benefit immensely from their white labels, it can sometimes be difficult for new traders to attain a respected white label. Most brokers want to see that you can attract a large volume of high quality traders; as such they tend to go for professionals from the financial services and business worlds; they are also usually interested in professionals already working in Forex in some other capacity, for example as a trader or someone who sells Forex related products such as software.