The world of online forex trading has grown manifold over the years. With the sophistication of the technology, more and more traders are getting into it. However, if we told you that one can make money from the currency market without trading, what will be the reaction? You will probably say – Well, by becoming a broker. The answer is absolutely right. However, there are different types of brokers depending upon the level of services provided. There is a full-service type, a discount broker and then an introducing broker. This article will deal with the the third type i.e. the forex introducing broker.
Who is an introducing broker? An introducing broker is one who acts as link between trading firm and the clients. Their job is to bring in clients looking for investment. They offer services to a client but charge lower fees than full-service providers. They will deal with the client but the actual trading is done by the firm. The reason behind opting for such a broker is the fact that he/she will be able to provide high quality personal customer care that is comparable to one which is usually considered to be a reserve of big time traders. In other words, if you have a complaint but your account is small, chances are that the firm won't be giving much consideration to it. However, with an introducing broker who has considerable funds, the firm will not dare to ignore you.
An introducing broker earns a commission on each and every client introduced to a trading firm. In addition, they also earn on every trade made by the client they've brought. So, who can become an introducing broker? The answer is anyone who is a financial trader, insurance agent, sales executive etc. or anyone having a sound reputation in trading circles. It is easy to begin your career as an introducing broker. All you need to do is fill an application form and then wait for the communication from the forex brokers. After undergoing required procedure, you may start identifying and introducing clients.
However, if you are not willing to get involved into providing any sort of service to the clients other than the introduction, then 'affiliate' is just for you. It is similar to an introducing broker. Affiliates have links with trading and broker firm but they only get paid for bringing in new clients. Depending upon the agreement like CPA or revenue share model or a hybrid, the firm will pay the affiliate. By using different marketing strategies, employing networking skills and exploiting the world wide web to place advertisements, writing blogs and utilising social media, forex affiliates build a client base. You won't even need to have an extensive knowledge of the markets to become one.
Tradenextglobal is one of the introducing broker or affiliate, help you in Best Forex Broker. We are one of the best FX Trading Broker, offers automated trading, mt4, Learn Forex Trading, cfd trading online and other fx trading services.
Affiliate or Introducing Broker - Choice Is Yours