Explanation of 'Introducing Broker'?
I know this question should be directed to my dealer (which I will contact on Sunday night as soon as they open) BUT (thanks to a message thread started by someone else in the forum 'Rate your broker' or something like that) I found that a broker called Forexion is the 'Introducing Broker' for GCI Financial (where I have my account).
What I don't understand is that Forexion offers a 500:1 leverage whereas GCI only offers a 200:1 leverage. 500:1 is better right? More 'bang for your buck' right?
My question is how can an 'Introducing Broker' be offering a higher leverage than the actual dealing desk itself?
Not to mention the other benefits apparantely offered by Forexion i.e. Rebate Programme and Affiliate Program.
I would like to know what the meaning of 'Introducing Broker' is I suppose and where an 'Introducing Broker' fits into the picture.
Regards,
Dale.
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