One word describes today’s financial markets – competitive!
Yes, attracting new customers can be extremely challenging, with millions of traders, brokers, and investors trading and investing the forex, equity, bond, and commodity markets via billions of transactions every day.
Fortunately, there are external specialists known as Introducing Brokers (IBs) who can facilitate the process and successfully bring customers to the online brokerage.
The Win-Win IB (Introducing Broker) /Online Broker Partnership
Who is the Introducing Broker? The IB can be a single individual, group of people, or recognized agency, who specializes in building a customer base for frequent traders. IBs profit by referring clients to online brokers, and commissions are based on the number of trading transactions conducted between the two parties.
This Introducing Broker/online broker partnership provides a win-win of benefits for both sides: Online brokers need customers who will open trading accounts and trade; while Introductory Brokers want a reliable trading platform that will make their clients happy, earn the IBs a good reputation, and expand his client base.
How IBs Profit: The Importance of Working with a Credible Online Broker
Introducing Brokers get rebates on the trades conducted by their clients. Therefore, the more clients and the greater the trading volume with the online broker, the bigger the profits will be. But that’s easier said than done. IBs have to negotiate the trading terms of service and client expectations until the client is finally on board – a process that requires a credible online broker if the IB is to gain profit, clientele and, most significantly, trustworthiness.
So what qualities should an IB look for in an online broker to ensure that the partnership results in the IB’s sustainable success and growth?
1. Flexible commission plans that can be customized to the Introducing Broker’s business model and meet his short and long-term goals.
2. A regulated or licensed online brokerage business to ensure the IB’s reputation won’t get tarnished in the long or short term. (Otherwise, don’t even bother or waste your time!)
3. Personalized dedicated support plus the tools and expert affiliate and marketing advice are worth their weight in gold by helping the IB’s business achieve “sky’s the limit” success.
5 Benefits of Teaming Up with AvaPartner
Take your IB business to the highest possible level with the advantages of AvaPartner-ship:
1. Regulation = Reputation
Ensure that an appropriate regulatory authority oversees the online broker – it is the most critical aspect of choosing a CFD broker. This way, they are accountable for their actions and will not put the IB’s credibility at risk, resulting in the loss of existing clients and potential profits due to a bad image/reputation. AvaTrade boasts six regulations spanning across five continents, and is the most regulated and reputable CFD broker on the market. Find further info on AvaTrade’s licenses and legislation here.
2. Customer support
Don’t settle for anything less than outstanding customer support – for BOTH the clients you refer AND for your needs as an Introducing Broker.
Trading support is extremely critical to your clients – a value neglected by many inexperienced traders who lose out on it. Make sure that the online broker gives your clients outstanding support, delivers services in the client’s native language, and takes the client’s call every time to avoid disasters such as the client not being able to exit a trade on time. As an IB, this is your responsibility.
Introducing Brokers who team up with AvaTrade get the benefits of an outstanding customer support in various languages, and undivided attention to clients that need to deal with trading platforms and related issues and to answer any trading-related questions they may have. Moreover, Each IB who partners with AvaPartner immediately receives his own personal dedicated affiliate account manager to help them succeed every step of the way.
3. Multiple Trading Platforms
Trading platforms are the portal to the market. Needless to say, an IB must only partner with a broker who can provide clients with the latest trading platforms and mobile trading apps – such as AvaPartner’s AvaTradeGO. This makes it convenient for traders who use mobile phones to trade or prefer to trade from anywhere.
AvaTrade’s AvaTradeGO App
4. Free Demo Account
Introducing Brokers: Your clients – whether experienced or novice traders – will love you for the opportunity to work on a demo account and get hands-on experience with the actual market. Trading in a simulated environment can boost the user’s confidence in trading the markets by taking a trial run and familiarizing himself with the new trading platform. Choosing a broker like AvaTrade provides an absolutely necessary demo platform.
5. Flexible Commission Plans, Quick and Reliable Payments
When it comes to commission plans, partner only with a broker who cares about your long-term success. This means offering you a commission plan that can be customized to your business model, meet your short- and long-term business goals, and help you achieve maximum growth and profitability.
AvaPartner provides the most flexible commission plans, offers one of the quickest and reliable payments in the market, and utilizes state-of-the-art technologies to monitor partner success and commissions – even presenting partners with a full dashboard to monitor their output and commissions.
For these 5 reasons and many more, Introducing Brokers find it best to partner with AvaPartner. We look forward to helping you reap the benefits of this amazing partnership.