In a trading world, there is a well-known broker namely Introducing Broker (IB). One of the reasons why people choose Introducing Broker is that it offers the profit without much capital needed in its investment. Briefly, IB is an agent that introduces new customers to a Forex brokage.
Forex broker is an essential thing among traders and markets. It offers technology/platform to trade online. In return for sending custom to a brokage, IB receives a fee in the form of spread and commission.
Here are several things about the advantages of being an Introducing Broker (IB).
The Duty of Forex Introducing Broker (IB)
Brokers really need a client (trader) for the brokerage company’s future. and IB works for those brokers. It earns a commission based on the volume traded by its customers. It means that they want their traders to be successful ensuring that they continue to earn a commission.
Everyone can be Forex Introducing Broker (IB)
Everyone can be Forex IB, both the beginner and experienced traders. But, it is better for you to look for an experienced trader before you decide to be Forex IB.
The knowledge about Forex will help you a lot in trading. As if it was a broker and sales, you have many potential relations in reaching your success.
The Profit for Forex Introducing Broker (IB)
In return for having a client or trader, a broker will give commission to IB Forex. The amount of commission is vary based on the system from its brokers. You need to highlight that each broker has its regulation for the amount of the spread or commission to the client. It is based on the percentage of the commission for the IB who joined together with the broker.
The Amount of Forex Introducing Broker (IB) Potential Income
The Amount of Forex IB potential income depends on how many clients or traders for brokers. Each broker has a formula/pattern to calculate the commission for IB who has been working for them.
For instance, in a month, Forex IB has joined five clients and the broker gives 25% for commission for the average of the spread for each transaction from clients. If there are 10 transactions with each spread $18, so the total commission is $45 x 5 = $225. To emphasize this point, the more the recruitments of Forex IB, the more the amount of IB potential income.
