As an efficient trader, you make money on bullish and bearish trends. You handle scalping with impressive skill. You do excellent risk management, yet you cannot avoid losing.
It is true that despite being who you are, you also lose sometimes. However, it is not true that you cannot do anything about it.
You can lessen your loss by earning income from the same transaction that you lost on. Sounds interesting, right? What’s more, you can receive income without making a single transaction.
Does the term Introducing Broker sound familiar to you?
Who are introducing brokers?
Introducing Brokers make money with people they know. People recruited to be IBs are usually traders with groups of followers, financial bloggers, owners of trading schools, former workers of Brokers, and money managers. Above all, they are people who work very well independently. They are people who do not need a boss to earn a lot, a LOT of money.
IBs are given many tools: website, a platform to manage multiple client accounts, education, sales simulator and monitoring, demo accounts and real accounts, back-office reports, commissions for transactions (positive or negative) of clients.
An IB manages his own time. He can do his winning trading during the morning, trading classes during the afternoon, and at the same time be winning as an IB.
You get up in the morning, turn on your laptop to see how the market is. After an hour, you are already making transactions, and your clients are copying your transactions or signals. You earn money from your winning transactions, but also from the losing ones (remember that you earn a percentage of each transaction that your clients execute or copy.
You win even if you lose in your transactions, win while you talk with your friends, win while you teach, win while you manage your clients’ accounts. Besides, you do not go through the stressful moment of going back to zero every end of the month and go back to look for clients to win. The Introducing Broker earns for his clients monthly as long as his client makes transactions.
However, as mentioned before, an introducing broker has special requirements, and it is not for everyone.
But it would be best if you also were careful with who you associate with. Many brokers do not respect contracts, commissions, or your clients. There are many ways to earn in Forex besides trading, but you have to be prudent and as professional as possible.