How to Become Successful Introducing Broker — Review of IQ Option IB Program
Introducing Brokers are an important and valuable part of the trading industry. An Introducing Broker (aka IB), is a company or an individual that refers new clients to a trading company (a broker) and gets a reward (commission) for that.
Basically, an IB acts as an intermediary between a broker and a trader, connecting them with each other. In this type of cooperation an IB takes care of his clients by offering them consulting, providing education, support, as well as trading strategies and signals. An IB cares about their customers’ happiness, because this what IB’s revenue depends on.
IQ Option has launched an Introducing Broker cooperation model and you have an exclusive opportunity to join.
What does an Introducing Broker do?
An Introducing Broker finds and refers new customers to a trading company through offering and advertising of
- managing a portfolio of a client or a trading community;
- trading education and tutoring;
- schools and academies;
- seminars and webinars;
- signals, investment ideas and financial consulting;
- local representatives offices and exchangers;
- fund and portfolio management;
- other events and services for traders.
The customer should register an account in the trading system via an IB link in order to be identified as an IB’s trader. Once the referred client funds their account and starts trading, the IB will start earning a commission based on the trader’s performance.
An IB is interested in keeping their clients trading for as long as possible, because the more they trade, the higher IB’s income will be.
Who can become an Introducing Broker?
There are practically no restrictions for those who want to become an Introducing Broker. Whether you are a company or an individual, you can become an IB. You don’t have to be a professional trader, nor do you need to obtain any specific license or certificates.
The same applies to the IQ Option IB Program. It takes less than a minute to become and IB with IQ Option: all you need to do is register an account and you are ready to go.
How to choose the right broker to cooperate with?
Choosing the right broker is essential for your success. Further on I will explain why choosing IQ Option Introducing Broker is a good idea.
Realistic cooperation terms
Let’s be honest. Money is what really matters. Competition in the industry is tough and trading companies do not hesitate to offer unbelievably high commissions, which sometimes reach 70–80%.
Be realistic. Real and legitimate trading companies bear enormous operating costs, which, among other things, include advertising, salaries, offices, customer support, licenses, legal services, billing, dealing, and so on. It is economically impossible for an investment firm to share 70% or 80% of its income with partners.
Offers of unbelievably high commissions is nothing but a bad sign. Be careful — there should be a catch somewhere. You might be ripped off through manipulation with statistics, a high commission offer might have a time limit and the % will drop radically after a certain time, the commission might be calculated after all expenses, from the start you will get a significantly lower rate, or the company is simply a fraud and they will go bust shortly.
Tips:
- Don’t chase extremely high commissions — you will end up with less than you expect.
- It is always a good idea to try everything for yourself. Do not spare a coin! Register as a trader via your link, place several trades and see how much money you will get back into your account.
By working with IQ Option IB Program you can receive a commission of up to 45%.
How does it work?
You get flat 40% from the start. For those who are able to attract a considerable number of clients, the IQ Option IB Program provides additional incentives. If an IB manages to refer more than 20 active clients within 30 days, the IB will receive an increased rate of 45% commission for the next 30 days. In order to keep the commission rate high, the IB must bring in another 20 traders and so on. They offer a plenty of promo materials to advertise the platform:
Trader insurance & profit guarantee
Brokers tend to promise you a share of revenue, but they usually forget to mention that, along with it, partners usually carry 100% of the risk. What does this mean? For example, you managed to set up a solid client flow and reach a certain earnings level, and a successful trader joins in via your link. The trick is that 100% of the trader’s earnings will be attributed to your account and will bring your profit basically to zero, ruining your previous achievements.
The IQ Option IB Program offers you trader insurance and profit guarantee. You will be getting a commission for each trader separately, which means that the success of one trader won’t affect your account performance.
Trading platform
You cannot earn much with a platform that people struggle with. The majority of brokers work with MetaTrader, a platform for trading designed more than 15 year ago. Professional traders are fine with it, but you should keep in mind that Introducing Brokers usually don’t work with professional traders. They search for newcomers, so you will need to find something more
IQ Option is offering a
It’s always better to get first hand experience and test out a trading platform yourself before making your final choice. Good luck in your new business as an Introducing Broker with IQ Option!