How to choose the right broker to cooperate with?

Choosing the right broker is essential for your success
Money is what really matters.
Competition in the brokerage industry is tough and brokers do not hesitate to offer IBs unbelievably high commissions, which sometimes reach 70% and above.
Be realistic & think rationally. Do not fall for a heap fortune promises.
Real & legitimate Trading companies bear enormous operating costs, which, among other things, include advertising, salaries, offices, customer support, licences, legal services, billing, dealing and so on.
Don't go chasing after extremely high commissions.
In the long term you will end up with less than you expected.
It is economically impossible for an investment firm to share 70% or 80% of its income with an IB. It's just too good to be true. If someone promises this to you, it's nothing but a bad sign. Be careful, there is definitely a catch behind: you might be ripped off through statistics manipulation, high commission might offer has a limited time frame and the % will drop radically after a certain time, the commission might be calculated after all broker expenses, or the company is simply a fraud and they'll go bankrupt shortly.
TIP: Do not spare a coin and check the system for your self before you heavily invest in cooperation: make a deposit, spend it and check the result.
REGULATION & REPUTATION
People used to think that regulation is what really matters, but after MiFID II was adopted by the EU authorities, IBs got basically banned in the EU market due to regulator requirements and there for regulation itself became irrelevant in our business.
Regulation is irrelevant for Introducing Brokers.
Broker reputation and history is what you should take into consideration.
You can often find the word "SCAM" next to broker company names in your google search results. Big companies keep an eye not this issue but, unfortunately, no one can avoid that: since trading involves a significant amount of risk, negative customer feedback is a usual thing in the industry, also some affiliates do abuse certain search request.
Not everything that you find on google is true. What you need to do is take a deeper look at the company you are interested in and carry out some research by yourself.

During your research try to find answers to the following questions:
  • When was the company founded?
  • Does it speak about its history and show the progress made?
  • How many active clients (traders) does it have?
  • Does it have a well-made website?
  • How active is the company on social media? Does it have a solid customer community? How does it handle it's public communications?
  • Does it have any educational materials? Are they free? Are they well-made?
  • How fast and helpful is the company's customer support?
  • Does it invest in it's publicity, sponsorships or charity?
You can extend this list for as long a s you can, but the general point is that you should make sure that the broker you are going to promote is not a fly-by-night company.
TRANSPARENCY & TRUST
Trust is something you build over the years of cooperation but transparency is the best foundation for a reliable relationship.
TIP: It is always a good idea to check everything for yourself: simply register as a trader, place several trades and see how much money you will get back.
TRADER INSURANCE & PROFIT GUARANTEES
Brokers tend to promise you a revenue share, but they usually forget to mention that, along with it, partners usually carry 100% of the risk.

What does it mean?
For example, you manage to set up a solid client flow and reach a certain earnings level, when a successful trader joins in via your ib 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.
TIP: Always get in touch with your account manager and find out all the possible aspects of cooperation. Do not hesitate to ask for help and explanations. It is their job to keep you happy.
TRADING PLATFORM
Choosing theThe trading platform you are promoting is a foundation of your success.
You can't earn much with a platform that people do not like a lot.

There are two types of brokers today: those who purchase software from providers and those who offers their own platforms.
As you can understand it is faster and cheaper to purchase software from someone else, rather than to develop one on your own.
TIP: Majority of IB's customers are newcomers! Pick the platform that is easier for newbies rather than for professionals.
The great majority of brokers offer the MetaTrader platform for trading. It has been on the market for the last 15 years and professional traders are fine using it.
CTrader
is one that is becoming popular with the brokers as well. There are a few more, but in the end the best brokers are tend to develop their own platforms.
In the end it is you the one who makes the final call. Just pick the platform you like the most and stick to it.

We hope we gave you a few usefull tips on how you can start your new business.
Good Luck!
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