White label Forex introducing brokers are usually a lot more high profile and prosperous than their independent counterparts. This isn’t just a matter of credibility; they’re usually the most qualified as well. Perhaps we’ve jumped the gun a little bit, before we continue let’s go over what Forex trading is all about and what an introducing broker does.
Forex traders attempt to make their fortune by speculating over the future value of shares. They search for typical signs that a certain currency or pair are going to go a certain way.
If their prediction is correct there are a number of ways they can profit, from buying up a rising currency to futures and other options.
A white label Forex introducing broker doesn’t make trades and doesn’t necessarily know a lot about trading either. Instead their job is to illustrate the potential benefits of trading to would be clients and manage their careers. Many new traders choose introducing brokers instead of large brokerages because they know they will receive more attentive care and guidance. They listen to the needs of their clients and forward their orders to a FCM for execution.
A white label Forex means that a prominent brokerage wants to sponsor the work of a particular introducing broker. They offer them the use of their brand image and name in exchange for the clients that the introducing broker brings to them exclusively.
As well as their image brokers also lend their resources such as software, valuable industry contacts and other perks. The main obstacle to success for most introducing brokers is lack of trust. A good white label Forex eliminates this obstacle completely.
Most brokers’ dream candidate for an IB program is a well connected financial veteran such as a successful banker or stock broker. However anyone can do it if they have talent and determination.