For any Forex Brokerage, Introducing Brokers (IBs) are like weapons to win the business battle. Hence developing a close and trust worthy relationship with IB is proved as a sure shot solution for winning fortunes in Forex Brokerage.
As we know that IB is generally an individual identity or a freelancer who achieves good commission out of his child profile's trades. IBs can work from anywhere across the globe though their regulatory requirements differ from region to region. Because of the liberty of working from any place, they can serve their parent broker efficiently as if they are working locally.
So, for a Forex Broker, it becomes very important to have a number of IBs and earn fortunes in terms of profits and commission. At the same time, it is very crucial to keep the IB on board with you because of this competitive market. All the brokers run lucrative offers and campaigns to attract maximum number of IBs to their portal. In such a scenario, it is very important to know what an IB would be expecting from the Broker.
High-Tech Trading Platform and Software:
Apart from the broker’s outstanding trading experience and trust worthy customer service, the IB would want a lot of Forex trading instruments and access to the high-tech trading platform. The IB would definitely look for a Forex CRM with dynamic reports and an excellent client portal.
Attractive rewards and commissions:
Now the Broker needs to do some R & D in the market and get to know what the competitors are offering to their IBs. Broker's working cost would be the payouts to the IBs and attractive commission is the reason the IB would retain the traders. So, the broker has to design a lucrative structure of incentives and commission compared to the market competitors so that the IBs are satisfied and grow and retain the traders.
Excellent Support System:
Here you can use the dynamic feature of the CRM and that is Campaign Module and Support Portal. Let an IB individually interact with their prospects in their own way but the broker must have organized and clear ideas about the marketing campaigns to attract new traders and IBs. Also, the support portal should be very much interactive to resolve IBs issues in less time in order to acquire trust of the IB.