What makes you want to be a part of something? Think of anything that involves participation, and consider what would make YOU want to join. Is it the people involved? Is it the trust factor? Is it the prestige it gives you? The perks? For each of us, there is always one thing that really stands out when it comes to choosing between options.
The same thought process governs our choice of brokerage. At the end of the day, as an IB, Affiliate or White-label you want to see results – you want to see the money roll in and your status-quo increase by leaps and bounds. It’s all about converting your leads into clients, becoming financially independent and exponentially growing the profitable business you always yearned for.
Trustworthy Brokers are everywhere, but choosing an actual trustworthy broker can be tricky
“Trustworthy Brokers” are everywhere, but choosing an actual trustworthy broker can be tricky; especially in this day and age where the markets are turbulent and no one really knows what tomorrow will bring.
The aim is to bring your broker clients and in return, get rewarded. But how do you know that you are being provided with the right business model to generate these clients and ultimately see profits for your business. Here is a list of the 10 ‘essential’ to landing yourself with the best broker that will suit your business development:
Show Me the Money
A main part of wanting to become a partner is to make money and gain financial independence, so it is vital to check what percentage of commission you will be receiving for your collaboration with any broker. You need to do your research and understand what brokers are offering in the market.
You also need to be realistic in the time and effort you will put into your business, as well as what your business model will be for generating a return and choose a payment structure which suits you best. Examples could include a CPA, CPL or Lot rebate.
Crucial On-Time Payments
Nobody wants to be waiting around to be rewarded for their efforts, and more importantly you want your time and money working for you, so ensure to opt for brokers who has your best interest at heart. Helping you to plan and budget for your next big activity, which will generate revenue. If they pay you in a consistent and timely manner, it means you can keep reinvesting to help your business grow.
Unique brand positioning
Let’s face it, very few brokers are offering anything different to the other with regards to products and services. So brand positioning is the key to creating some white space in this cluttered market. In recent months, or might I say years, the industry (and clients) have been challenged by unregulated and dishonest brokerages. This has made acquisition of clients a lot more difficult.
FXPRIMUS has built their history on their tagline ‘The Safest Place to Trade’ which is ultimately what traders are now really looking for. Everything they do is in-line with the unique selling point to provide their clients with the safest trading environment. As an STP broker, there is no dealing room intervention, FXPRIMUS offer transparent trading in a true market. So the broker and partner are in-line with wanting their clients to be successful traders.
A Box Full of Tools
Becoming a partner is, in retrospect, is a win-win situation. You help the broker to gain exposure and the broker helps you to build on your business. You need to find a broker that is fully stocked with a range of powerful resources and promotional tools to entice new clients.
A rich bank of marketing materials, will get you on the right path for advertising your broker – which in turn will give you an upsurge in results for your business. This can include online banners, landing pages, seminar materials including point-of-sale, leaflets, certificates and so on.
For example, a great tool that FXPRIMUS offers to their Partners is a personalized microsite – which gives you, as a partner, your own business website and any updates made on the brokers main website simultaneously updates your microsite – whereby you, the partner, gets rewarded through every click.
It is vital that you have the ability as a partner to track your conversions through online reporting and it is of the upmost importance that measurement of your marketing efforts are readily available to you in order to optimize activities and gain the ultimate success – after all that is the whole point, isn’t it?
Look for a broker who offers a reliable reporting tool, which is crucial for creating key performance indicators, planning your marketing strategy and building real business success based on solid metrics.
A Relationship Built to Last
Creating a strong relationship with your broker is key. Having a great connection with your business development manager will give you an added advantage when it comes to asking for something you need to help your business grow. Brokers will bend over backwards if they believe that you can generate business for the broker. So as much as you need them, they need you.
Not only will they ensure you have all the tools you need in order to generate business but they will also tailor a payment plan to suits your specific business needs. Work with a flexible broker who believes in your business and will create the bespoke conversion channels, such as a special promotion to encourage more sign-up’s at your next seminar.
Can I Trust You?
In the search for a suitable broker, traders need to look for reliability, credibility and glocal ‘brand bandwidth’. Safety of payment is vital, after all, you want to know that your business investment is secure – so ensure that you team up with a regulated broker that keeps all funds in a segregated account – otherwise chances are, you won’t be seeing too much of your earnings.
FXPRIMUS are the first broker to use a third party entity to monitor all client withdrawals and ensure they are handled as ethically and professionally as possible. This is an extra expense the broker pays to ensure the very best experience for its Partners on their journey to success.
Tailored Multi-tier Partner Programme
Partners have the opportunity to cultivate a multi-tiered network, which allows your business to grow organically. IB Concierge is a unique tool, offered exclusively by FXPRIMUS to facilitate mass lead conversion. This means that partners can work with their networks to easily convert and efficiently upload mass databases to their members’ area risk-free, and watch their commissions multiply, while our support team handles the rest on your behalf.
The True Definition of Glocal
Choose a broker that has not only got global expertise in this ‘5 Trillion Dollar a Day Market’ but has also got the insight and know-how to adapt their marketing efforts to target specific markets. Being culture-conscious, business-etiquette-aware and promoting in the ‘local-way’ will increase your business. Select a broker that has native-speaking account managers in a variety of languages, with local payment methods and supports local community activities.
You have heard of speed dating but have you heard of speed conversion? Test-drive the broker before you sign them as your partner. Ensure their registration process, compliance procedures and conversion funnel are up to the speed and standards of the rates you want to be activating your clients. Don’t forget, the quicker they sign-up, the quicker you get paid.
If you want to have a profitable Forex partnership then be sure to carry out a few easy steps when researching brokers, as you can see you can be rewarded 10 fold!
This article was written by Laoura Salveta, Head of Marketing at FXPrimus.