Requirements of Introducing or Referring Brokers in Forex
Much has been made over the past year or two about the evolution of the Forex industry and how Introducing or Referring brokers are compensated. Becoming an IB/RB was a no-brainer for ANYONE who wanted to earn a few bucks through this industry. It has become much more difficult, especially over the last year to become an IB/RB especially with an NFA registered firm (and subsequent introduction of US-based traders to it).
It’s been anticipated for at least the last couple of years that IB’s would have to become officially registered as IB’s with the NFA as a pre-requisite to becoming an IB with an NFA member firm to introduce US traders to it, AND be compensated. If that isn’t a mouthful I don’t know what is.
This hasn’t become official yet because it’s still with the CFTC to put it’s final seal on. FXCM has recently started an update newsletter to its RB’s that has the best consolidated step by steps of how to become an IB with the NFA that I’ve seen anywhere outside of the NFA website.
Washington Watch for the Forex Industry –
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