Without the proper back office technology a broker will find itself juggling to maintain its IB relationships, especially across multiple trading platforms.
For a forex broker to be successful, it’s not only a consideration but a must to develop an IB (Introducing Broker) referral network. Growing an IB network, however, comes with a series of challenges when using MT4 or MT5. Without the proper back office technology in place, managing IB payments and accounting can quickly become a major headache.
MT4 / MT5 Limitations – Multi Tier IBs
The retail forex industry is highly competitive, especially when building an IB network. The majority of the IB relationships that a broker begins to cultivate will expect that multi-tier or multi-level payouts are part of the offering. The challenge is that this is not a feature offered directly in MT4 and MT5, requiring a technology solution. Not being able to support multi tier payouts could result in a significant loss of revenue as these referral agents will find a broker that can offer them this type of payout structure.
Functionality For All Trading Platforms
Being able to offer rebate payouts to sub-IBs in MT4 and MT5 is just one part of the equation. It’s also essential that the Trader’s Room technology has the ability to properly account for payouts across a variety of trading platforms, not just MT4 and MT5. Although many brokers soley work with MetaTrader, we are seeing an increasing number of brokers offer multiple trading platforms, making it crucial that the Back Office technology your broker adopts can support this must demanded functionality.
