What is an Introducing Broker (IB)? An Introducing Broker is an individual or company who introduces a party to CMS Forex, enabling that party to trade the Forex market.
Is an IB a CMS Forex employee? An IB is not an employee of CMS Forex and has no connection with CMS Forex other than as a contracting party with CMS Forex under the Introducing Broker Agreement or deed.
What is the IB compensation process? IBs will receive compensation at the beginning of the month based on his introduced clients’ total round turn lots traded in the last month.
Can an IB trade on behalf of his clients? An IB can manage his clients’ accounts and trade on behalf of his clients through the Limited Power of Attorney.
How does an IB manage his/her Forex business with CMS? A password-protected online IB business report will be provided to the IB, which gives the IB the ability to monitor his clients or customer trading activities and calculate their IB rebates 24 hours a day.
Do I have to pass any brokerage exams or register with specific financial regulatory organizations to become an IB? If you plan to operate your IB operation in the USA clients who reside in the USA, you must register as an IB with the NFA. If you intend to manage the accounts of US clients, you will need to register with the NFA as an IB and a CTA. Both IB and CTA registrations with the NFA require passing the Series 3 examination.
Is an IB a CMS Forex employee? An IB is not an employee of CMS Forex and has no connection with CMS Forex other than as a contracting party with CMS Forex under the Introducing Broker Agreement or deed.
What is the IB compensation process? IBs will receive compensation at the beginning of the month based on his introduced clients’ total round turn lots traded in the last month.
Can an IB trade on behalf of his clients? An IB can manage his clients’ accounts and trade on behalf of his clients through the Limited Power of Attorney.
How does an IB manage his/her Forex business with CMS? A password-protected online IB business report will be provided to the IB, which gives the IB the ability to monitor his clients or customer trading activities and calculate their IB rebates 24 hours a day.
Do I have to pass any brokerage exams or register with specific financial regulatory organizations to become an IB? If you plan to operate your IB operation in the USA clients who reside in the USA, you must register as an IB with the NFA. If you intend to manage the accounts of US clients, you will need to register with the NFA as an IB and a CTA. Both IB and CTA registrations with the NFA require passing the Series 3 examination.
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