Selling subscription as IB

D

dima777

Hi,

We have a rather innovative product for FX which might be interesting for retail fx traders. I had a question what do you think might be more profitable in long-term - selling subscriptions for a flat rate of 69 USD per month or giving free access to all trades who open the accounts with us (as introducing brokers) and stop access when they close accounts...


With introducing broker you have one problem - you cannot get someone to reopen the account with a broker just to get access to the service - or can they theoretically set us as the IB - after opening the account with a fx broker?


We have an educational portal and the subscription site..


Thanks!
 
Hello dima777, I'd say give your clients free access to all trades. It would make the process more fluid.
As for your second question, I would say of course they can change the designation on the clients account, it's just whether they would or not. It will come down to your relationship with your contact at the brokerage and how much the account is worth. I.E how much they stand to loss vs how long you have been with them, how many clients you have brought them.

How long have you been doing this? What broker are you using?

Have a good day.
 
You can also manage client accounts as a CTA. It would probably make more money than the IB+subscription idea.
 
yes but do you think someone can help me estimate what an introducing broekr can actually make? are there any reliable forecasts available? part from what the brokers themselves are telling you? is someone here an IB?
 
dima777 said:
yes but do you think someone can help me estimate what an introducing broekr can actually make? are there any reliable forecasts available? part from what the brokers themselves are telling you? is someone here an IB?
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Are you at all familiar with the cap requirements of being an IB? You might want to start there to determine if this is even realistic for you, you probably need a few tens of millions more than you've got to even start down that path. The question "what does an IB make" is nonsensical if you don't know what the costs are to becoming one.
 
Kevin Schmit said:
He's talking retail mt4 offshore bucketshop FX. Un or lightly regulated. Cap requirement for an "IB" to these firms is zero.
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Ah...probably shouldn't really be using that term given it has a real meaning, but then again they also call themselves "brokers" so.....
 
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