I encountered a broker which offer a program called IB program. Apparently, if you participate in this program and introduce traders to the broker they give you a commission based on their trades. sound like a cushion-job but as I know nothing is that simple in Forex. So, have you ever participated in such program? any ideas?
Perhaps you’re thinking about an affiliate relationship. IBs, or Introducing Brokers, are programs brokers offer to individuals and companies usually requiring additional licensing and/or special regulatory requirements in the country where you’re setting up or offering your services.
IBs have a more direct relationship and contact with broker clients, whereas with an affiliate, you might make the initial introduction for the broker through a website or blog link redirection, and then you hand off the client, and you get paid a fixed fee, paid out monthly once the client performs whatever action is required by the broker (live account creation, min account deposit, lots traded, etc).
IBs generally earn a share of the commission or spread, paid out as quickly as daily, and there often aren’t caps to your earnings. You can earn immediately and get paid quickly.
But again, IBs can require additional KYC and regulatory filings to get signed up.
First of all, thank you for the explanation.
So, are they profitable as brokers claim to be?
I can’t speak to that, as I haven’t participated in that capacity. My only experience is from comments made over the years from others and from brokers.
But you have to ask yourself, why would somebody go to an IB in the first place, rather than a broker directly? I imagine the selling point is the relationship and the level of service an IB offers above and beyond what a broker would. This could be similar to mentorship services or educational services like live trading rooms or group training and live discussion/Q&A. There needs to be some value-add in using an IB that the broker can’t or won’t fulfill, for whatever reason. And I do believe the education space could be lucrative, if you’re a great educator/trader with experience in the market, that can actually turn your new clients into profitable clients. At the end of the day, an IB needs clients who trade and who come back the next day and trade some more. You’re more likely to be in that situation if you’re proving value to your clients (profitable trades, education, access to experienced traders, etc).
Hmm right… right.
So, having a client base is important at the first place. Well based on all of this< for now at least, it’s not for me. Because I’m not a educator or a pro trader. I appreciate your explanation 
Affiliates are the easier of the two for sure. If you can attract followers or visitors, then an affiliate relationship is easy to establish and execute.
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yes affiliate programming is awesome
if I had an account with #k followers on social media I wouldn’t hesitate to start an IB (Introducing Broker) program. It sounds like a great opportunity for me to engage with my audience and potentially earn from their trading activities.
That’s the hard point XD
To have #K followers. But in general IB programs seems to be like easy money.