When it comes to the land of forex and forex trading, there are always options for the kinds of brokers that you can choose to help you out. Today, we wanted to clarify a little more regarding the concept of forex introducing broker.
Here are a few things that an Introducing Broker or IB can actually do for you:
Handles Pending Trades
A lot of brokers—especially ones that work for large firms—look over the account of a client and pass on the information to the floor handler. It is actually very rare for firm brokers to handle the trades themselves.
IBs actually do the pending trades themselves. They are more hands-on than other forms of brokers. This gives their clients the assurance that they are working with someone who has a strong working knowledge of the ins and outs of the trading.
Educates You on Trends
A forex introducing broker works with you—and not for you; this distinction is important. Most other brokers will simply give you their idea of a good trend and expect you to trust them on what they are saying.
An IB will actually educate you on the trends as they occur. That way, you can make your own decisions and eventually spot certain trends so that you’ll be able to pick things out.
Provides Multiple Options
While you are gathering your bearings regarding forex market trends, an IB will always provide you with multiple options that you can consider. There will always be a bit of a case why each option is viable and what you can expect from it.
Most other brokers will generally just single out what they perceive is a low-risk option and wait for their client to give them the go signal.
We hope that today’s discussion helps you better consider what an IB can do for you. If you’ve worked with an IB before, what sort of services have you experienced?