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Offshore forex brokerage FXCL Markets, trading as FXCL, has introduced two new types of introducing broker (IB) programs called Sub IB and IB Reward, the brokerage said on Friday.
Under the new two-tier Sub-IB program, FXCL’s partners receive additional 10% Sub-IB commission from clients introduced by their Sub-IBs. Meanwhile, the IB Reward program provides rewards for higher results on a quarterly basis; partners can get up to $1,000 for taking part in one of FXCL’s three nominations.
The broker intends to introduce new ways for increasing IB commissions, data on its website indicated. It will launched Increased IB commission program and Exclusive IB program.
Generally, FXCL offers IB partners up to 60% of spreads when attracting new clients who trade. Active IBs can apply for exclusive partnership and open a company representative office in their city of operation. They can even gain exclusive rights for all local customers if they manage to become the biggest IB in their city of operation.
The brokerage provides to IB partners marketing materials they need for free. IBs can monitor their referrals list and IB commission through their Trader’s Cabinet.
In addition, FXCL offers white label partnership under which partners use FXCL’s technology but keep their own brand.
FXCL specializes in forex trading and offers its services to clients in more than 50 countries worldwide. In addition to Binarystation, FXCL also supports the industry leading trading platform MetaTrader 4 (MT4).
The broker holds a license by the International Financial Services Commission (IFSC) in Belize, which is known as an offshore destination for forex brokers.
FXCL is not the only forex broker to offer partnership programs. Many others that are globally presents like FXCM, Gain Capital, Interactive Brokers, offer such progransm but so do smaller brokers like Orbex, Pepperstone, JustForex, Recently, software developer Spotware Systems, released an IB program for its cTrader trading platform.