How to Become a Forex Introducing Broker (IB)

There are various benefits of being an Introducing Broker (IB). Mostly, the financial benefits of being an IB lure many people to try their hand into this lucrative field.

Who is best suited to become an IB?

This field is open to anyone who has the ability to get clients who can trade in the financial market. However, people with knowledge in the financial market, specifically online trading, are in a better position to become Introducing Brokers. This is because they know what it takes for a person to make successful online trades. This knowledge is important in convincing clients.

How do you become a forex IB?

If you have knowledge of forex trading, you are the right person to become a forex IB and enjoy the lucrative commissions offered by online forex trading companies. You will only need to follow a few steps to become a fully-fledged forex IB.

Identify a reliable online forex trading company with an Introducing Broker Program

The first step is to identify a reliable forex trading company that has an Introducing Trading program. There is much emphasis on identifying a reliable forex trading company since not all the online trading companies are reliable.

Enroll in the Forex Introducing Broker Program

Once you have identified a reliable forex trading company, you should enroll in their forex IB program. The enrolment process may vary across the different forex trading companies. All the forex trading companies with this program have requirements that must be met.

It is at this stage that you will discuss the commission payable per client.

Search for clients

Finally, you have to engage in an active process of searching for clients. Remember, the more clients you get to trade forex, the more commission you will get from the forex trading company you are dealing with.

That is how easy it is to become a forex Introducing Broker.