What is an IB (Introducing Broker)?
The term Introducing Broker (IB) is also sometimes referred to as a Referring Broker originated from the commodity futures market. The simplest way to describe it is as an individual or company that refers clients to a brokerage firm.
We very often refer to our brokers as Forex brokers, and this is not really the best description. Good brokers will offer a range of instruments for people to trade. Ubuntu Invest offers hundreds of instruments that include Forex, Indices and Commodities.
What is the difference between an IB and Affiliate program?
There are several differences, but the key difference is how payments are done. An affiliate typically generates clients and they get paid a once off fee for that client. Whereas an IB will earn a smaller amount but for the entire lifetime of that client. Which works out to be significantly more.
Ubuntu Invest wants to help people grow sustainable businesses, and for this reason we offer the IB program and not an affiliate program. IB’s typically earn a lot more over time and can build up a solid relationship with their clients.
Where can IB’s find business?
First steps to finding clients
Introducing Brokers who are just getting started should refer clients that they know directly. Clients are much more likely to register with a broker when someone they know personally gives a recommendation. This typically has the highest success rate, but also the smallest audience. It is a great way to kick start your IB business and get your first handful of clients though. A lot of traders become IB’s to help grow their trading accounts, and offer links to people that they interact with in person and online.
Taking it further
If you are ready to look at this as a full-fledged business then you need to expand your audience and start marketing the services. This is ideal if you are also offering education or another trade related service such as signals.
There are several online methods for getting clients, and it is impossible for one person to cover everything all at once! You will spread yourself too thin. I recommend you start with platforms you know and are familiar with, once that is up and running and bringing in clients then expand to another. And when there is enough income you can look at hiring someone or a company to take care of it for you.
Below is a breakdown of some of the methods used, which we will cover in our consultations as well as online training course and webinars.Blogs
- Hosting your own blog
- Writing as a guest on other people’s
- Tik Tok
- Answering questions on forums like Quora
- Getting involved in discussion on education-based forums like Babypips
- Hosting your own blogs
- Google Ads
- Organic SEO
What do IB’s do and how do you make money?
Introducing brokers are given a unique URL to give to potential clients. If someone signs up with that link then they are listed under your profile, and you will earn each time they trade.
With Ubuntu Invest we do not cap your earning or the lifespan of your client on our system. Dedicated IB’s who spend a lot of time getting people signed up can earn tens of thousands of dollars a month with very low overheads.