What is the best Forex IB

The following are the main types of IBs business models.

1: Rebate-related IB: Rebate is the commission fee paid to IB by brokers. When a customer introduced by an IB is doing a transaction, the broker will charge a service fee from the customer during the transaction, then give a commission fee to the IB as a bonus. A good IB will return part of the commission to his customer, in order to reduce the customers transaction cost. It can be said that rebates are the main income of an IB, and the amount of commission is the attraction for IB to expand its business.

2: Customer service related IB: Customer service is also one of great competitiveness for IBs in the Forex market. Customer service related IB seems like an “administrator” of customers, and it focuses on providing personalized transaction solutions for customers. Also, it provides many extra services, including rebate, Forex signal, etc. Usually, Customer service related IB provides round-the-clock service within 24 hours, related training and affordable activities. Customer service related IBs understand customer needs very well, so they can recommend the most suitable brokers, as well as the trading services that traders need most. It is worth noting that customer service related IB solves problems from the customers point of view, and this can deal with the transaction problem in a timely manner. The disadvantage of customer service related IB is less commission returned.

3: Transaction signal related IB and social media related IB:As the new types of IB models in forex market, they bring the mainstream social media into forex. And IBs have expanded their business from online to offline. The offline model becomes most mature. For social media related IB, the most popular mode of operation is the combination between forex salon and group operation. Social media related IB encourages the investors to share transaction ideas, methods and transaction results. These IBs start to share transaction signals and allow customers to follow others to trade or directly “copy” transactions. Customers can directly receive signals from forex account with the help of signals related IB .

These signals can come from any other traders, no matter they are newbies or veteran in forex trading. Signals related IB also allows customers to use a variety of automated and customized programs. As for these two types of IBs, the disadvantage is that customers need to pay extra technical fees.

4: White-label IB: IB can switch to a white-label model when it has more customers. White-label IBs provide customer account services, with operation department, transaction account index, technical solution, corporate strategy and marketing tools. But they cannot hold customer‘s funds. A customer uses white-label IB to get lower spread and transaction index. A good white-label IB should have greater control over the customer’s trading environment, and the services they can provide are different from those of large brokers.

White-label IB has two ways to make profits.

1: Rebate related IB: when a customer has a higher trading volume, the white-label IB can obtain higher income.

2: Broker will return part of commission to white-label IB, and the amount of commission will depend on how much money customers invest.

When you are going to choose an IB, there are two points that need to be considered.

Firstly: You should know what kind of IB is suitable for you. Some IBs pay attention to transaction costs, while some pay attention to service quality.

Secondly: You must consider whether an IB is regulated or not and understand the customer protection measures.

Why both brokers and traders need IB？

IB can make the forex market more active and hierarchical, and it is a hub between brokers and traders. In forex market, illegal brokers are everywhere. So it is very difficult for investors to distinguish between legit and scam broker. In addition, illegal brokers still have many differences in spread, withdrawal and deposit, slippage and so on, so it is very important for investors to choose a good IB. Especially for rookie customers, they do not understand the rules of the industry, thus they really need IB.

[About Author]

Name: Sisi Zhang

Job Title: Financial Editor

Education: MBA, the University of Queensland

Company: WikiFX

Former Jobs: Forex market analyst, Forex breaking news and emergency incident reporter

Sisi is an exclusive writer of WikiFX, focusing on providing forex analysis of current hot forex topics, major financial events, daily exchange trends, forex education and illegal broker exposure reports, from the most professional perspectives.

WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

USA Area：https://www.facebook.com/WikiFX.US/

UK Area：https://www.facebook.com/Wikifx.UK/

Nigeria Area：https://www.facebook.com/WikiFX.ng

Twitter：

Areas where English is an official language：https://twitter.com/WikiFX_Eng

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

App Store: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Google Play: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

UK Area：https://live.wikifx.com/uk_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html