Adding a competitive edge to the process by which introducing brokers operate, FXTM intends to reward the most successful introducing brokers by offering a prize pool starting at $20,000.
Just a month ago, FXTM expressed its concentration on client acquisition via introducing brokers (IBs) as a priority.
The competition is assessed on a points basis, with introducing brokers awarded points for each new client they bring to FXTM and also for each lot those new clients trade during the competition period. The five leading Introducers with the highest amount of points accrued at the end of the competition period will win a percentage of the overall prize pool, with the top IB winning a minimum of $10,000.
George Stylianou, Chief Marketing Officer of Forex Time, said: “We have designed this competition to provide an ideal opportunity for Introducers to put their networking skills to the test and be rewarded for their efforts. The competition prize pool starts at a minimum of $20,000.
“Generating points is simple, as Introducers are recognized not only for each new client they bring to FXTM, but also each time those clients trade. The more each Introducer’s clients trade with FXTM, the more competition points they will receive.”
Becoming an Introducer can be a lucrative business, with FXTM Partners offering one of the most competitive commission structures in the forex industry. The commission structure is also scaled, which means that the more new qualified clients brought to Forex Time and the higher the value of each client, the higher the commission for the Introducer.
In addition to the points accrued in this competition, Introducers working with FXTM Partners will continue to receive the same financial commissions for bringing new clients to FXTM.
The competition is open both to existing Introducers working with FXTM Partners and also new Introducers who register during the competition period.