Jul 09 2021 0
HotForex IB is a good choice for those who want to earn more from their HotForex forex trading business. In fact, for professional traders, being an IB on HotForex is a light yet easy way to have an extra source of income. Read the following article to understand what IB HotForex is to do.
What is a HotForex IB?
Nowadays, working as an IB (Introduction Broker) is becoming a very hot job, especially for young people. Many of you have become a professional IB and earn hundreds of millions per month. So what is IB? Today I will introduce to you a few features of this wonderful job.
HotForex IB is the simplest form of cooperation between you and the HotForex broker. After completing the registration to become an IB, your job is to find and refer investors to the Exchange and then receive commissions from customers' transactions.
Why is HotForex IB the hottest and the best job today?
High and long-term commissions: If you are a commercial agent or broker for any product (e.g. real estate or services), you are simply selling the product and earning a one-time commission. for that product. As for the financial brokerage profession (IB), you are bringing investment and earning opportunities to your clients. Commissions will be calculated throughout your customer's transaction. Rebate is calculated in one of two ways:
- Based on customer's trading volume: Broker will set the rebate level for each product (e.g. 1 lot EURUSD you get 8USD).
- Based on % Spread : Assuming you are working for an international exchange (no commision) with only Spread, the Spread fee for EUR/USD is 1pip, so when a customer trades 01 lot, the floor will collect 10USD; and you get paid a percentage based on this (e.g. 60% you get 6 USD).
Thus, when you work seriously with this profession, you can still reach an income of over 1000usd per month right from the start.
Freedom of time and no sales pressure: With this profession, you have complete control over your time and work. You do not have to report to anyone and are not under any sales pressure.
Perfect environment for learning and communication: Through support to your customers, you will have the opportunity to expand your relationships. You will gradually come into contact with a lot of traders, learn and share experiences through forums, seminars, etc. From there you will gradually improve your trading skills naturally.
Is an IB job difficult?
The simplest job of IB is: Introduce the floor, guide customers to open accounts, instruct customers to deposit and withdraw money. However, if you stop at that level, it will be very difficult for you to expand and retain customers. You have to bring real value to your clients as a consultant. Depending on the capacity and strength of each IB, you can: provide signals to clients, train them on how to trade effectively, provide analytical tools, EAs or simply gather materials and provide customers in research.
How to become a HotForex IB?
Here are the steps to be a HotForex IB:
Step 1: Learn about HotForex’s trading platform
Step 2: Register to become an IB for HotForex
Step 3: Build your Marketing system (Website, Fanpage, Blog, ...)
Step 4: Contact with customers and get them to sign up at HotForex.
That’s all you need to know about working as an IB for HotForex. If you are already an active trader at this broker, being a HotForex IB will be even easier for you. This could be a really good way to make extra cash apart from trading.