Trading software experts Spotware Systems today announce the launch of their unique cTrader Introducing Broker Program.
The feature is now available to all existing broker-clients for no extra charge and is available to all future brokers also for no charge. The new feature can be configured from cBroker and used by Introducing Brokers (IBs) from cTrader.
This application enables brokers to hand over additional responsibilities to their IBs and helps bring a new level of transparency to partnership programs. In addition, the application gives Brokers full control and a wide variety of configuration settings to craft the perfect plan for their IBs. Note that plans can be adjusted on a per IB basis. It also provides the option to create fixed commission ranks, revenue sharing ranks or fixed value rewards. Ranks are associated with achievements.
cTrader now includes a built-in application accessible only to IBs which enables them to manage their introduced clients. Any trader can submit a request to their broker to become an IB from within the cTrader platform. The cTrader IB Program supports unlimited levels of IBs, as a result if an IBs client becomes an IB, the parent IB continues to profit, and there is no limit on how many Sub-IBs or introduced clients an IB can have.
Once a request to become an IB is approved, access to the cTrader IB Center is available. Commission plans are clearly displayed, showing: current traded volume; what volumes need to be achieved to access higher ranks; and what commission plan the IB will apply for the following month. All of this information is displayed in the form of a progress bar.
cTrader displays IBs commissions to their accounts immediately and offers a detailed breakdown of earnings from every trade executed by their clients. All statements can be viewed within specific time periods and may be exported. Everything is displayed in real time.
James Glyde, Business Development Manager, Spotware Systems, says,
“Now IBs will never be out of sync with their business, with real time calculation of their revenues, in depth reports displaying exactly where commissions originated and clear summaries of performance. Our IB Program brings a new level of transparency to partnerships programs, just like our platforms, manipulation is impossible and our end users are fully informed of all activity within their accounts.”
Depending on the broker’ settings, IBs can be supplied with a variety of tools regarding the management and retention of their clients. IBs can provide rebates and bonuses which can be converted. All converted bonuses and rebates are paid from the IB’s balance. In addition, IBs can view all of their clients and their balance, trading volume, when they last logged in, a history of their trades and (depending on the brokers settings) their contact details.
IBs can generate trackable links which are unique to their cTrader ID, to use on websites and in email campaigns. cTrader ID uses advanced attribution technology to track any Trader which has used an IBs referral link and applies that trader to the relevant IB of their brokerage when creating an account. These cookies do not expire.
James Glyde, Business Development Manager, Spotware Systems, adds,
“Now IBs have the best possible tools to increase their revenues and acquire new clients. The range of resources available to IBs within the IB Center helps them to retain clients and encourage higher trading volumes helping them to access more attractive rewards as they climb the revenue sharing structure their broker has tailored for them. Our cookies have no expiry date, meaning IBs will never miss an opportunity, even if a trader doesn’t convert for months.”