WORKING TOGETHER WE ACCOMPLISH MORE
I know some of you may have some questions as to why/how I am able to get such great rebates and sign on bonuses for our traders opening trading accounts.
So I thought I would explain how the forex world goes around real quickly here.
INTRODUCING… THE REFERRING AGENT
First, I have registered with the NFA which allows me to form relationships with several different firms.
Before I go further let me explain what a referring agent does.
When you make a trade there is a difference between the bid and the ask price. This difference is called the spread and is essentially your cost for entering the trade.
The spread is how brokers make their money and cover their costs, one of which is advertising. One of the ways they advertise is by giving up a portion of the spread to an introducing party.
This introducing party is the referring agent.
These agents use their resources to bring clients to the Brokerage Firm.
******SIDE NOTE****************
It is important to note that the spread is the same, whether you were introduced through an agent or simply found them on the Web. Having a referring agent can be very beneficial to a trader, and since having an agent typically doesn’t change your cost of trading, the benefits come at no cost to you.
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When you have an agent, it opens the doors for volume discounts as well as a multitude of other free and discounted products which come as by-products of being in the group.
An example of this is the discount that was offered for the Bank Flow subscription.
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This was a $1200.00 a year value that was essentially paid as a result of trade volume.
Another way we are rewarded is by the sign-on bonuses. You may wonder how a broker can afford to pay you $15000.00 just to open an account. Typically there is a certain number of lots that you are required to trade before you can withdraw the money they give you.
They expect to make the money back through the spread. Essentially it is another form of a rebate, but it is in advance so you get the benefit of trading the money before it is actually yours.
Not only that, the volume you trade is being created in part from the money they give you and many times we can get a rebate on the spread that goes back to the trader. It really is a great situation.
So being part of a group can get you a portion of the spread back, initial sign on bonuses as well as discounts on miscellaneous products. We have set up a group that deals with several different firms all of which are well established.
Before opening an account directly with a broker visit our group site and see what incentives are currently available. The site address is
Remember, together we accomplish more!!!
Dustin Pass
