Any person or firm that has contacts with groups or companies who could be interested in trading currencies online, either by themselves or via a currency broker can be a foreign exchange Introducing Broker.
To be able to understand what an Introducing Broker is, let's see some typical examples of firms that would fit into our description of IBs (Introducing Broker). Although the list is not explicit, hence you might not necessarily find the type of company that fits your description.
We have on this list Independent Financial Advisers, Banks, Organizers of Financial Seminars, Professional Forex Traders, Insurance Companies, Business Professionals with interested clients, Estate Agents, et al.
An Introducing agent would enjoy benefits and commissions as compared to a regular forex trader. An IB makes money on all trades that are executed by his clients not minding the status of those trades (profits or losses).
A forex brokerage firm on the other hand is entitled to get a fix amount of commission on all positions entered. Based on the volume of trades performed by the customers you refer you'll be paid by the currency exchange broker.
As a broker commission forex introducing agent you would be getting daily reports on the volume of trades entered by your customers. These reports would help the IBs manage and analyze the growth of clients. Helping your clients initiate reliable trades would go long way to boost your reputation as a successful and dependable IB.
As a successful Introducing Broker you can provide tools like online trading software, account managing tool, support desk etc. Engaging in providing necessary training to your clients would go a long way in showing your customers that you stand out in the business.
Being a broker commission forex introducing agent does not imply that you should run a separate website or online trading software. All that's required of you is to pass on your clients details to your firm and they would create a profile for your customers with login details.
Your clients can use the same support provided by your brokerage firm as well as the trading software. What you should concentrate on is providing your clients a diversified portfolio so they can improve on the earnings on varying investments vehicles.
Our product reviews at forexexpertonline.com are independent and constructive and we can correlate this to getting the best broker commission from an introducing agent.
Getting a reliable network of dependable currency traders in the market can be of great help in building your confidence towards becoming an Introducing Broker.
You don't necessary have to belong to the financial market before engaging yourself as an Introducing Broker, you can as well come from allied fields like an insurance agent, a financial sales person, a successful trader or the banking or financial services.
Finally, it's advisable to identify customers who have disposable income, interest in the financial markets and are in need of guidance in the currency market when building you clientele portfolio. As an Introducing Broker it is essential that you build a formidable relationship with your clients, as it provides an air of stability and trust.