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Introducing Broker (IB) vs White Label




What is an IB?

An Introducing broker (IB) is a simplest form of partnership between an individual (or a business company) and a Primary broker. The role of the Introducing broker is to solicit clients for the Primary Broker. By doing so an IB earns commission.

- NFA Glossary:
"Introducing Broker (IB) A firm or individual that solicits and accepts futures orders from customers but does not accept money, securities or property from the customer. An IB must be registered with the Commodity Futures Trading Commission and must carry all of its accounts through a futures commission merchant on a fully disclosed basis."

The process of referring clients to the Primary Broker can be done in a variety of ways, but the key component of a successful IB
business is to have the means, contacts and influence on the trading audience. Who can become a successful IB:


Read more...


Broker discussion area

BrokerGuru

March 1, 2012

You need to seek registration & regulation in the country(s) where you'll be doing business. If you're located in China, you'll need to seek registration in China. If you're located in UK, you need to register with FSA UK (www.fsa.gov.uk).

(If your prime broker is located in UK and you, as an IB, located in China, you need to register your business in China).


trader

March 1, 2012

I am planning to start a white label IB business. My company located in UK but all my target customers are all in China only. Will I need to apply any licence in UK? Or I just need to satisfy the regulation in China is ok?
If I need to apply licence in UK, any ideas what kind of licence I will be looking at? Thanks for your help!


BrokerGuru

February 10, 2012

Yes, you can set us an office of your own.
Since Forex trading is done online, in order to be in the Forex business and offer trading to clients you must have a website.
Unfortunately, we can't recommend brokers here, I'm very sorry. We keep an unbiased neutral position towards all brokers.


trader

February 7, 2012

As an introducing broker can you set up an office of your own? Is it a must you own a website? Can get me good brokers that i can become there introducing broker.


BrokerGuru

February 5, 2012

You mean a broker in Nigeria, which you can become a White Label for?
Sorry, I don't know, we have no Nigerian brokers listed on our site so far.


trader

February 4, 2012

hi brokerguru

please do you know the body that issue the white label license in NIGERIA imean forex broker


BrokerGuru

February 4, 2012

It's not difficult to become a White Label, especially when you always can rely on support from your Prime broker. Although it'll take more time and resources, comparing to a simple IB.

None of the Prime brokers will disclose to you, me or anyone else the names of their White Labels, because this information is protected in the interests of both parties. But sometimes, traders can figure out some connections, for example: Universal FX is a WL for ACM.

There are quite a large number of Forex brokers nowadays, who are in fact While Labels for other brokers, but we won't be able to find it out, and there is no particular need for it - a white label is a complete & functional solid business model, fully capable of doing Forex business alongside its Prime partner.


trader

February 4, 2012

Is it that easy to become a White Label?
What are the best companies you know who are offering WHite Label solutions? Also Do you know some successfull forex companies who are just WL?
Thanks


BrokerGuru

January 30, 2012

The initial capital for a White Label could be anywhere from $5000 to $10,000 or sometimes more. It varies for every single broker. The broker, which you want to become a White Label for will gladly tell you How much it costs.

You don't need any clients to start a White Label. Basically, your partner broker helps you to start up a new business, and then you start bringing clients.


trader

January 29, 2012

what is the requirement for become white label. mean funds requirements, how many clients should initially etc. thanks.


BrokerGuru

January 16, 2012

You only need a local license.

However, if you want, you can always later open an office in UK or US and apply for a regulatory status there.


trader

January 16, 2012

If we need white label in other countries like india or pakistan, do we need to register in usa or uk ?, or we need local license ?


BrokerGuru

September 9, 2011

Basic steps & costs to become a White Label in US:

Exams
You should obtain a licence by taking the Series 3 exam (administered by FINRA) and Series 34 exams (required by NFA, administered by FINRA). Total cost: $105 + $70.
Reference link: http://www.finra.org/Industry/Compliance/Registration/QualificationsExam...

Licensing
The next step is to obtain a license from CFTC and NFA. Apply for a registration as a Futures Commission Merchants (FCMs) or Retail Foreign Exchange Dealers (RFEDs). NFA membership comes at a yearly cost/month: from $750 for an IB to $50,000 for a Retail FX dealer.

Reference link: http://www.nfa.futures.org/NFA-registration/NFA-membership-and-dues.HTML

Further NFA rules & requirements:
General
Annual FCM and RFED Requirements
Financial Requirements for FCMs and RFEDs
FCM Applicants
RFED Applicants
Anti-Money Laundering
Forex


BrokerGuru

September 8, 2011

Some useful facts and figures:

"Setting up your own trading system will take many months and would cost over $150,000-200,000 in software licenses and technical expenses. Experience shows, that most companies need from 6 months to 2 years to complete the preliminary stage and to start operating in the market."
Source: forex-metal.com

"The cost of MT4 is $5,000 onetime fee to set up your WL and $750 monthly technical support."
Source: bmfn.com

"Normally a USD 6000 deposit is required in order to start an ECN White Label + USD 5000 in order to get the MetaQuotes license."
Source: fxopen.com


trader

August 18, 2011

white label is a lease...


Zeb Noon

August 12, 2011

Hello all
i am new in this field. i read all features but i want to know how can we get WL on lease?
what is cost of their services?With whom i have to connect ?
Zeb Noon


BrokerGuru

August 9, 2011

Hi rex,

a White label can choose either option:
- to handle all client deposit/withdrawals
- or leave this responsibility to a Prime broker.


rex

August 9, 2011

Hi Brokerguru !
this is rex..
I have one question regarding White label broker, become white label broker, the customers funding is for this WL or the prime company?


BrokerGuru

July 19, 2011

Thank you!

Yes, you'll need to carry out some initial start-up expenses. They will be significantly lower than expenses of setting up an independent brokerage company. The cost of setting up a White Label business is discussed with the Prime broker.


trader

July 16, 2011

Hi Brokerguru !!
I'm Xiao Kang from Beijing, China.
I like 100forexbrokers website having lots of usefull information,
for all newbie & experience traders.
you are doing really apprizing Job man !!
I have one question regarding White label broker ;
To become white label broker do need any deposit money ?


BrokerGuru

March 24, 2011

The IB model is simpler: less paperwork and partnership contracts. You simply refer clients to the broker via your referral link (will be given by the broker), or have your clients mention you as a referral when opening a live account with the broker - your reward comes from the number of referred clients.

The WL model is more complex and requires you to become a broker with all the paperwork, platforms, customer support and other things attached - you'll be offering Forex brokerage services to your clients, who may or may not know which of the Prime brokers your represent, since everything will be branded under your company name and logo. That's how prime brokers expand the business and reach out to more clients - through the network of their White Labels.


trader

March 8, 2011

i have studied about IB and white label partners. But it is not clear to me. who is more better to do work with them means white label or IB?



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