However, you might be interested in trading forex because you heard about the huge profit potential in this business from an Introducing Broker (IB).
In a simple sense, an IB acts as an intermediary and is an individual or company that directs people to join certain brokers with whom it is associated.
You could say, the IB acts as Sales as well as Customer Service for forex brokers. However, the IB is not an employee of the broker and does not get a fixed salary in return for his hard work. The new IB will receive money (commission) from the broker if it succeeds in inviting people to join and that person is actively trading forex.
The earning potential for a Forex IB depends on how many clients or clients get for the broker. Each broker already has a formula / formula to calculate the amount of commission for IBs who work for them.
When trying to enter the world of forex trading or foreign currency trading, of course, prospective traders need a forex broker who is a professional company, which plays a role in bringing together the seller and the buyer in making transactions.
However, you might be interested in trading forex because you heard about the huge profit potential in this business from an Introducing Broker (IB).
In a simple sense, an IB acts as an intermediary and is an individual or company that directs people to join certain brokers with whom it is associated.
You could say, the IB acts as Sales as well as Customer Service for forex brokers. However, the IB is not an employee of the broker and does not get a fixed salary in return for his hard work. The new IB will receive money (commission) from the broker if it succeeds in inviting people to join and that person is actively trading forex.
The earning potential for a Forex IB depends on how many clients or clients get for the broker. Each broker already has a formula / formula to calculate the amount of commission for IBs who work for them.
Know What is an Introducing Broker (IB)Know What is an Introducing Broker (IB)
IB was originally introduced in the Commodity Futures market, but has become increasingly popular in the Spot Forex market as the volume of that sector has skyrocketed in recent years.
IBs are operated in small offices located across the country. Many IBs are single-person operations, while others are larger, multi-location businesses.
IBs always partner with brokers. The IB only acts to direct potential new clients to the broker, but the IB does not have its own trading and leverage software. IBs also do not receive or deposit funds from people.
The online trading platform offered is the facility of the broker. Although its function is still limited, the IB can hold various forex learning events. Seminars or trainings with the aim of introducing people to their partner brokers.
What is clear, it can be said that the IB's job is only to introduce traders to the broker. The IB also maintains trust and good relations between traders and brokers so that traders do not switch to other brokers.
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