Foreign Introducing Broker

[sundev]

I know a Forex broker, and he wants me to become a Foreign Introducing Broker to bring him business from areas outside of the U.S. Of course I would get a part of the commissions, etc.

I was just wondering if anyone here is a Foreign IB, and what is required to become one and what it's like.

Thanks for any help.

 

[Miramonti]

Of course your friend wants you to become one, because its no skin off his back if you don't generate any clients and its commissions for him if you do.

I'm surprised your friend hasn't called me yet suggesting the same thing too, or for that matter my mother.

Regarding the forex I can't say that I'm an expert about it by any means, but think its recent allure and trading sexiness is a sham, since its no better than crapshooting any other type of trading, except you don't even have the general investment appreciation over time of the equity markets. People find it nice to trade because of the liquidity, but liquidity doesn't make profits - trading techniques do, which can be applied anywhere if they are sound.

 

[sundev]

No there is no "skin off his back", but why is he offering to train me for 3 months?

Bump for the morning crew, anyone have any experience with this type of thing? Can I become an FIB without the 3 months, or some other way?

 

[Miramonti]

Elitetrader.com has some posts on fibs and can most likely give you the info you're looking for/answer any questions.