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Introducing Broker (IB) stands for an industry term for a Forex Broker. An introducing broker is a brokerage firm that deals directly with the client(trader), while the back-office work and trade execution is the responsibility of a Forex broker or a liquidity provider.
As a tech provider, Fintechee provides brokers with White Label which authorizes brokers to use Fintechee's WEB Trader which serves as a Forex trading platform. Fintechee's WEB trader includes a frontend package and a backend package.
The frontend has the features to make traders able to use Automated Forex Trading and Trading Simulation. The backend has the features to make the order router management connect with multiple liquidity providers via the FIX API Trading Platform. This feature is the so-called Price Aggregator. It integrates with the FIX API Trading Platform to aggregate different quote sources.
The biggest advantage of signing a white label agreement with Fintechee is that the introducing brokers can make their brands show up on the WEB trader's logo position. Behaving like the owner of the WEB trader can help the introducing broker build more credibility and become more competitive.
We have cooperated with more than 20 Liquidity Providers. And We have done testing the connectivities with 12 liquidity providers of them. “LMAX Exchange” and “ATC Broker” are the two liquidity providers who support this kind of cooperation.
Please note that an individual can be an introducing broker as well.
An introducing broker can onboard by doing the following steps:
After a client(trader) deposits, we will synchronize the corresponding credits for the client on our WEB trader's dashboard(back office).
Please read the introductions to know more features of our product.
Please check this material to know the liquidity providers who cooperate with us: Liquidity Provider.
|Historical Data Downloading||⭕|
|Multiple Accounts Management||⭕|
|Multiple Charts System(WEB Based)||⭕|
|Artificial Intelligence Integration||⭕|
|Trade Positions Management||⭕|
|Order Router Management|
|Monthly Maintenance Fees||$0|
|One Time Installation Fees||$0|
|Monthly Volume||> 10000 Lots|
I had some experience to work as an introducing broker(IB) before. To be honest, it was not that easy. Why? Because in the market map, there is no spare position for IB. Why is it necessary for the market to pay money for a redundant role?
Let's see what IB is doing.
This kind of work is too simple to do. Any common person can do and replace them so that the role of IB is tough. Then, how to improve the value of IB? Some IBs created trading channels or schools to make newbies subscribe or opened their trading records to their followers to make them copy trade. That's a good idea. But there is still a problem. It takes time to verify whether you are a good teacher or whether your trading strategy is good.
Why not get the Forex broker white label partnership or why not start a broker? The answer is that the cost is too high. The commission and the markup that IBs get paid by brokers can't cover the initial funds to start as a broker.
That's why we recommend them to cooperate with us. Both of us will get benefit from sharing our resources and advantages. IB's market activities promote Fintechee's WEB trader. Fintechee authorizes IBs to expand their business by using our WEB trader and to show their brands on our WEB trader. Except for deposit/withdrawal, IBs behave like brokers and are not that easy to be replaced anymore.
If you have interest in cooperate with us, please contact us.