Nowadays, most of the customers coming into the Forex business through Forex brokers, are brought into and introduced to forex by an introducing broker. While this is a pivotal and important part of establishing a customer base, introducing brokers don’t usually receive the credit and revenue they deserve. Because of this, implementing a reward system for introducing brokers can tap into a pool of driven brokers looking to bring more customers to the Forex table.
Our Custom Commissions add-on allows the broker to specify a list of groups who will share the agent commission among a multi-level IB structure. As such, introducing brokers can support themselves and bring in clients through a multi level affiliate program, while cashing in an instant rebate.
Here is an example of how it works:
Let’s assume that a broker has an affiliate program of up to three levels, wherein the numbers for the introducing broker accounts are: #1001, #1002 and #1003. The account number #1000 closes 1 lot, the following commissions will be created:
- The introducing broker owning the account number #1001 will receive $3 from user #1000, and will give $1 to the next account – that is, the owner of account number #1002.
- The account #1002 will receive $1 from #1001 and will give $0.3 to the next account: #1003.
As such, the account number #1001 will have $2, account #1002 will have $0.7 and account #1003 will have $0.3.
Through this Custom Commissions feature, brokers can easily drive more traffic through the help of introducing brokers.