Is the thought of a complicated marketing campaign stopping you from expanding your network of affiliates and introducing brokers? You may be asking what tools and services are available and what level of staffing is required to get this off the ground. This is where FYNXT is on your side! Our IB, Reward Program and Contest Management modules are designed specifically to help you find, organise, reward, and retain your network.
Firstly, if you are new to this, let’s look at to whom we are referring. An Introducing Broker (IB) is an individual or organisation, that introduces your multi-asset brokerage to new traders and/or fund managers. The IB would generally have an active role in acquisition and account management with the new client and the IB would be compensated in a variety of ways, the most important being rebates or as a revenue share of the fees generated by trading volumes.
An Affiliate, on the other hand, may simply guide new prospects and leads to your website’s registration page by a link on their website, landing page, email, etc. and may collect set fees based on Cost-per-Acquisition (CPA).
Of course, you as the broker may decide to reward your affiliates and IBs in any manner of your own choosing or a combination of many existing concepts and programs. These methods include and are not limited to:
- Cost per Acquisition (CPA) where payment, a flat fee or commission %, is made upon the new client registering and depositing funds.
- Cost per Click (CPC) where payment is made upon the prospective client clicking a link to take them to the broker’s website or landing page.
- Rebates where payment is made upon the new client registering and depositing funds and trading.
- Rebates from Sub-IBs where payment is made upon the clients of an IB, introduced by the Master IB, registering and depositing funds and trading.
- Physical Rewards and Gifts based on levels of achievement.
The FYNXT IB, Rewards Program, and Contest Manager modules make any combination of the above possible. And, with the Multi-Tier structure and N-Level rebate management, this flexibility can be extended through many levels from the Master IB down to all tiers of Sub-IBs. As well, IBs may wish to reward or incentivise their traders and this can be facilitated and managed by coupons within the FYNXT IB module.
To attract and retain IBs and Affiliates, today’s multi-asset broker must provide them with the highest quality technology and support. In turn, IBs and Affiliates are looking to the broker to provide the best tools to attract, motivate and retain their own clients.
FYNXT, for example, provides the technology within its IB module to create an easy-to-use IB Portal branded in the broker’s style. The IB can then engage in transparent two-way communications regarding promotions, rebates, rewards and coupons. Providing easy-to-read accessible reconciliation statements removes the guesswork for the multi-asset broker and the IB so they can get on with the job of finding clients.
One of the key tools for an Affiliate or IB is the referral link for their website, landing page, social media or email campaigns. These must be readily accessible, along with an up-to-date stable of banners, widgets, and QR codes for user interfaces to entice potential traders.
There are many ways for a multi-asset broker to find and retain IBs and Affiliates. One of the most effective ways is to motivate the current network to bring Sub-IBs on board. Another is to highlight a “Become a Partner” area on your website or to attract new partners through one of the many affiliate exhibitions around the world. You may decide to keep it simple and join a CPA network where prospective affiliates and brokers are introduced.
No matter how your business finds its partners, we look forward to showing you how to provide them with the best technology to help them do their job and how to generate profits for themselves and for your brokerage. Give us a call now to arrange a demo.
