Introducing Brokers, also known as IBs, are a frequently chosen option within the online marketing industry. An Introducing Broker introduces new clients to a brokerage business and earns a commission in return. In other words, they act as the intermediary between the broker and the client and brings them into contact by providing trading and educational support.
Once you’ve established your own Introducing Broker business, you should invest in making the most of it to stand out from other rivals. Consider what would make clients stick with you. Doing so will require lots of research and your own personal touch.
Qualities of a good Introducing Broker partnership
Your IB business is like a shop in a mall. The people visiting the mall are your potential clients. Your goal would be to attract more and more clients either by showcasing something on your window or by offering the best possible services so as to keep them coming back. Below are a few actions to take to keep your clients satisfied and potentially increase the chances of them sticking with your IB business.
- Efficient customer support. Since clients chose you to connect them with the brokerage company instead of reaching out to the company directly, you will need to ensure that you provide them with constant and efficient assistance. This could help in developing a stronger relationship and a more trustworthy partnership with them.
- Provide educational material. Knowing the financial markets including the most popular trading platforms, trading sentiment or latest market trends, is vital when investing funds in forex trading. As an IB, you could set up seminars or webinars for both experienced and beginner traders and invite them to attend so as to boost their trading knowledge. Showing commitment can also build a solid partnership with clients.
- Choose a regulated and reliable broker. This action is vital if you want to succeed in this field. Reliability is an important value when developing and managing a client database. You will need to partner with a regulated broker that you can rely on for advanced trading services.
- Meet your clients’ needs. The broker that you will partner with should be able to offer a broad variety of trading products, platforms, accounts and services which can meet your clients’ needs.
- Keep clients up to date with the latest news & promotions. You will need to ensure that your clients are always in line with the latest market news and promotions which they could utilise to their advantage. You could address them through social media or emails.