IB agreements are very prevalent throughout the broker community, a good number of fx brokers nowadays offer some form of rebate package to any person who introduces clients to them. Some brokers offer more attractive rebates than others however this shouldn't be your only consideration when deciding on which forex provider offers the best IB and affiliate program.
I thought that I would publish this article as I have been a super affiliate and introducing broker to in excess of 34 different forex brokers, some of which I've found brilliant to work with and others which have been very difficult. A short time ago I sat down and put pen to paper producing a checklist of a few of the imperative things that a fx broker should have in order for me to become their IB. In this short article I'll unveil my checklist; I'd advise that you also produce your own as you could have different requirements to me.
The main criteria that I look for in a forex brokers IB / affiliate program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Support and Pricing
4. Fast Payouts
I'll now further elaborate on each of these points and explain why I've only a few favored brokers that I partner with and why there's only one particular broker that I send my clients and internet traffic to.
Good and simple to use trading platform
Having a responsive and straightforward to use platform is important as an Introducing Broker for the reason that the easier to use the platform is, the less queries that you'll have and happier your client will be. Metatrader 4 is the most common platform brokers use however there are a few forex brokers like IC Markets which have modified the Metatrader 4 plaform adding extra features like one-click trading. It's these extra functions that simplify the trading platform even more. IC Markets is considered one of the only forex brokers in the world to provide a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is crucial for any IB or Affiliate as it is important to track the prospects that you have sent your fx broker and understand whether or not they have turned into fx traders. Having the ability to access reports that illustrate this is important to me. Lead tracking reports are however just one subsection of the reports you ought to look for. One more essential constituent is having the ability to observe your client's trades and the commission your clients have generated; there are a few forex brokers that do not provide access to this until the end of the month. IC Markets really is my favored fx broker in relation to lead and conversion reporting, additionally they offer real time commission and deal reporting enabling affilates to monitor their clients trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers don't not really consider good service and spreads as essential however in my view good service and pricing is vital as you want to make sure that your traders trade for longer and are happy with the forex broker that you have referred them to. Referring your business to a superb broker also ensures that your clients will trade more and you'll generate more commission, it is because of this that I now always pass on my leads and clients to ECN forex brokers instead of market makers. Some people think that the payout is not as good with ECN forex brokers but in actual fact this is not the case at all ECN brokers still give very aggressive rebates and the great thing is that generally your clients will trade more frequently, meaning more commission. Out of all of the forex brokers that I have referred business to IC Markets has the very best payout and they also offer the clients that I refer them the very best spreads and service, this is the reason the majority of my clients are now dealing with them.
Quick Payouts
Receiving your rebate payments fast is absolutely vital especially if you are buying leads using campaigns like google ppc that require regular cashflow. Some forex brokers don't payout for the previous month until after 15 days of the next month, others offer you access to the funds instantly. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it's normally okay. IC Markets, the current broker that I'm referring business to has instant payouts so I'm very happy.
I thought that I would publish this article as I have been a super affiliate and introducing broker to in excess of 34 different forex brokers, some of which I've found brilliant to work with and others which have been very difficult. A short time ago I sat down and put pen to paper producing a checklist of a few of the imperative things that a fx broker should have in order for me to become their IB. In this short article I'll unveil my checklist; I'd advise that you also produce your own as you could have different requirements to me.
The main criteria that I look for in a forex brokers IB / affiliate program are outlined below.
1. Good and Simple to Use Trading Platform
2. Good IB / Affiliate reporting
3. Good Support and Pricing
4. Fast Payouts
I'll now further elaborate on each of these points and explain why I've only a few favored brokers that I partner with and why there's only one particular broker that I send my clients and internet traffic to.
Good and simple to use trading platform
Having a responsive and straightforward to use platform is important as an Introducing Broker for the reason that the easier to use the platform is, the less queries that you'll have and happier your client will be. Metatrader 4 is the most common platform brokers use however there are a few forex brokers like IC Markets which have modified the Metatrader 4 plaform adding extra features like one-click trading. It's these extra functions that simplify the trading platform even more. IC Markets is considered one of the only forex brokers in the world to provide a simplified version of the Metatrader 4 trading platform.
Good IB / Affiliate Reporting
Good reporting is crucial for any IB or Affiliate as it is important to track the prospects that you have sent your fx broker and understand whether or not they have turned into fx traders. Having the ability to access reports that illustrate this is important to me. Lead tracking reports are however just one subsection of the reports you ought to look for. One more essential constituent is having the ability to observe your client's trades and the commission your clients have generated; there are a few forex brokers that do not provide access to this until the end of the month. IC Markets really is my favored fx broker in relation to lead and conversion reporting, additionally they offer real time commission and deal reporting enabling affilates to monitor their clients trading activity.
Good Service and Pricing
Most Affiliate marketers and Introducing brokers don't not really consider good service and spreads as essential however in my view good service and pricing is vital as you want to make sure that your traders trade for longer and are happy with the forex broker that you have referred them to. Referring your business to a superb broker also ensures that your clients will trade more and you'll generate more commission, it is because of this that I now always pass on my leads and clients to ECN forex brokers instead of market makers. Some people think that the payout is not as good with ECN forex brokers but in actual fact this is not the case at all ECN brokers still give very aggressive rebates and the great thing is that generally your clients will trade more frequently, meaning more commission. Out of all of the forex brokers that I have referred business to IC Markets has the very best payout and they also offer the clients that I refer them the very best spreads and service, this is the reason the majority of my clients are now dealing with them.
Quick Payouts
Receiving your rebate payments fast is absolutely vital especially if you are buying leads using campaigns like google ppc that require regular cashflow. Some forex brokers don't payout for the previous month until after 15 days of the next month, others offer you access to the funds instantly. Although having instant access to the commissions earned is nice so long as the payout is at the end of the month it's normally okay. IC Markets, the current broker that I'm referring business to has instant payouts so I'm very happy.
About the Author:
From my experience you actually cannot go wrong with any forex provider as long as they meet these criteria, or course as you have likely figured out already that IC Markets is my forex provider of choice and the clients that I have referred them thus far are very happy. I'm glad that I'm an IC Markets Introducing broker.
