(PRWEB) April 10, 2013
Forex Day Trading, an FX (Foreign Exchange) trading and investment firm, announces the release of a new how-to manual for introducing brokers (IBs), designed to help IBs run a successful business.
“This first-of-its-kind manual represents over a decade of research done on hundreds of IBs and affiliates operating under different business models. Any group or individual wanting to run a Forex referral business should have this manual,” said Mario Jimenez, Head of Business Development.
Titled "Introducing Broker Guide: The Complete Manual to Help the Forex IB Succeed," the manual covers the basics, includes a list of business candidates that could realistically succeed in the IB space, and provides detailed examples of value added services IBs can offer clients to maximize success.
“The manual covers important topics like compensation, partnering with the right firm, the effects of regulation and many other key areas,” Jimenez said.
Given the exceptionally high failure rate of IBs, many FX brokers do not offer them specific guidance or training. Regulatory agencies, such as the NFA (National Futures Association) and the CFTC (Commodity Futures Trading Commission) in the USA, do not offer any manuals or practical training to members either.
“These agencies focus primarily on compliance, registration and licensing of the IB. Even though he CME (Chicago Mercantile Exchange), the world's largest futures exchange, has technically written an IB Handbook, it only caters to IBs of US futures traders who work exclusively with the exchange's products; not spot currency traders. The reality is that non-US IBs that handle spot FX have a myriad of available options outside of the United States and its exchanges. These shortcomings are the primary reason the IB guide was written," Jimenez added.
Potential IB candidates need a realistic picture of what the business entails. The goal of the manual is to paint this picture, thereby helping future IBs be better prepared to tackle what lies ahead. At the same time, it will also benefit brokerage firms by bringing a more qualified source of IB leads to their doors.
“Best of all, this manual is absolutely free," said Jimenez. "All anyone has to do is visit our site and help themselves to it.”
For more information, visit http://www.forex-day-trading.com.
About Forex Day Trading
Forex-Day-Trading.com was founded in 2002 to provide investors and traders a diverse set of foreign exchange products and services. The site offers articles and research reports on the FX and other markets, a program for new and existing IBs, and a free trading demo.