Are you looking to gain extra income? Tickmill's Introducing Broker provides a solution to earn from the forex market without opening any trades.
The vast development of online trading has opened up a bag full of opportunities to earn money in ways that never existed before. Retail traders can now participate in financial markets rather easily and experience the same trading environment as investment banks and large companies. One of the attractive methods to earn an income is through Introducing Broker (IB) programs.
Many forex brokers these days offer the chance for traders to become an Introducing Broker for their business. It can help them earn new clients and promote their services to a wider audience. Meanwhile, traders can use such an opportunity to make additional income or even make it a strong stand-alone business. In this guide, we're giving you a complete view of Tickmill's Introducing Broker service to help you understand what exactly you can get from it and how to become a professional in no time.
Contents
What is an Introducing Broker?
Introducing Broker (IB) initially started in the commodities futures market but has grown significantly in the currency market over the current years. It basically refers to the act of making money by referring people to a certain broker. To put it simply, IBs are agents that introduce new clients to brokerage firms and earn money for every client they successfully attracted.
Many people actually have been doing such practice for a long time, just not in an official capacity. For instance, it's common for traders to recommend their favorite brokers to their friends and persuade them to become clients as well. However, it was only recently that these people were able to start earning from doing so.
That being said, the IB industry has introduced a great source of income for traders, as they can now make an official agreement with forex brokers to gain clients and access a larger marketplace with better resources.
Tickmill's Introducing Broker
Tickmill is a leading brokerage firm that offers a wide range of instruments and supports various trading strategies for traders worldwide. At Tickmill, becoming an Introducing Broker is very easy as there is no cost to sign up. You are free to work from anywhere and promote your service through any means you like. You can refer traders directly, guide them through the live account opening process, and introduce all the benefits of becoming a Tickmill client.
🌐 WebsiteTickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.
For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips.
The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it's no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards. Also, Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.
After registering in Tickmill, traders can choose the most ideal asset among 60 currency pairs that they can trade. If traders aren't sure yet to open a real account, Tickmill recommends learning to trade through a demo account.
There are also educational features such as Webinars, Seminars, Ebooks, and Video Tutorials. All of these facilities can be used by traders to increase knowledge about trading and the financial market as a whole. If traders already have enough knowledge, they have a greater opportunity for earning profit consistently.
For traders registered in real accounts, they can choose between provides three types of accounts, including Pro Account, Classic Account, and VIP Account. Traders can open positions with a minimum order of 0.01 Lots. This applies to all types of accounts.
The company provides recommendations for traders who are still confused when choosing an account. For example, for novice traders, Tickmill encourages clients to choose a Classic Account. It offers optimal conditions with fast order execution while enabling traders to use virtually any trading strategy. Additionally, the account is trade commission-free so traders only pay the bid/ask spread. Other than the 3 main accounts above, Tickmill also provides an Islamic account (swap-free).
The downside is, trading with Tickmill will only enable traders to use MetaTrader 4 as their offered trading platform. Although not much if compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface, accompanied by sophisticated order management tools to help traders control positions quickly and efficiently.
The convenience of trading on Tickmill is enhanced by the existence of One-Click EA integrated on MT4. Traders will get Stop Loss and Take Profit calculations automatically. On top of that, Tickmill provides a VPS hosting for automated traders that can't be bothered with technical problems such as troublesome internet connection.
They offer several third-party research solutions, including Autochartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. Autochartist is available both in Tickmill's web portal and as a platform plugin for MetaTrader 4.
As a Tickmill client, a trader can deposit and withdraw with a variety of payment methods, including Visa, Mastercard, bank transfer, and Skrill. Tickmill accepts deposits and withdrawals in 4 currencies, which include USD, EUR, GBP, and PLN.
Overall, Tickmill is a competitive broker in spreads and provides a safe trading environment with its regulated entities in three different jurisdictions. Although their trading platform is not outstanding, the analytical tools they present to equip traders' needs are considered by retail broker standards.
How Does It Work?
As mentioned before, Introducing Brokers make money from referring new clients to a specific broker. The process is actually pretty simple. First, the IB must attract new clients and guide them to open an account. The active client will then deposit some funds and start trading with their live trading account, generating certain trading volumes for every closed trade. As it happens, the IB will earn commissions based on the client's trading volume. The larger the volume, the more commissions the IB gets.
Keep in mind that brokers will only pay for every client that becomes an active client. So, if you refer five traders to a broker but only two of them register and deposit funds, then this means that the broker will only pay you for the two traders who went on to become active clients.
Who Can Become an IB?
Anyone can become an Introducing Broker. Typically, successful IBs are advanced traders who have a proven track record and ability to analyze the market effectively. Having high-quality trading skills can certainly help them attract clients because they are considered reliable and trustworthy. Most people tend to follow recommendations either from someone they know or someone they admire, so this is certainly a big advantage for advanced traders.
However, it is worth noting that not all IBs come from such a background. With the right support and resources, it's actually very possible to become a successful IB even with little to no experience. Social media is a great place to start gaining a wider audience by posting useful trading-related information, advertisements, and various brokerage offers.
It is also a great idea to engage with people and demonstrate good knowledge of the markets to gain their trust. There are many communication channels that can be used for this purpose, such as websites, online forums, etc. The more followers you get, the higher the chance to get referrals, active clients, and ultimately, commission payments.
What You Can Offer to Clients
As a Tickmill's IB, here are the products and services that you can offer to your potential clients:
- Effective and insightful trading analysis
- Free tuition and guidance, including daily and weekly actionable trading ideas
- Interactive assistance via video calls or webinars
- Quality education to improve trader's skills
- Interactions in forums and communities
- Reliable Expert Advisors and trading signals
- Various attractive cashback services
- Intuitive trading platforms for social trading and algorithmic trading
- Access to many reliable news sites and channels
How to Become a Tickmill's IB
- Register to Tickmill
Simply head over to their website and create an account. Fill in your personal information as well as trading experience to complete the client area registration. - Verify your data
Upload the required documents for the verification process. Once your account is fully verified, the broker will inform you via email and the status of your account will be automatically changed. - Become an IB
Open your client area and enter the IB room to activate your IB account. Get the resources you need to promote the broker, such as links, logos, banners, and landing pages. - Start advertising
Use marketing materials to post attractive advertisements and gain new clients. Then, refer clients to Tickmill with your unique tracking number. - Earn commissions
As the client starts trading, you'll earn commissions according to the agreement. The amount will be paid automatically once the client opens and closes the trade.
Advantages You Can Get
Becoming an IB in Tickmill can give you numerous benefits, such as:
- Get to work with one of the most reliable and transparent brokers in the market.
- Earn $10 per lot on a Classic account, and $2 per lot on Pro and VIP accounts.
- Commissions will be given automatically for qualified currency and metal trades made by your referral.
- Access to powerful IB Room that is equipped with comprehensive fund and account management tools.
- If you are able to recommend your client to open a Pro account, they will get a 5% discount on the commission.
- Use a broad range of ready-to-use marketing materials and resources to attract new clients.
How to Attract Retail Clients
Typically, Introducing Brokers start growing their network by promoting the broker to clients that they know directly. This method tends to have a high success rate because it's easier to convince people directly, especially if they know who you are already and what you are capable of. However, this can only take you that far. You need to expand your business and attract a wider audience. Thankfully, the internet now provides an endless range of communication methods to get you started.
There are various platforms that you can use to catch a trader's eye. Facebook, Whatsapp, Instagram, and Telegram are some of the powerful choices to try. You can also create a dedicated website of your own to post various content related to trading. The key is to provide a certain degree of free but valuable information. This could be anything from daily market news to brief market analysis of a certain instrument price. Make sure to demonstrate good quality content to build your reputation, but don't give away too much. At the same time, imply that the client will get so much more once they register with the broker as an active client.
Use the platform to create a solid community of traders and give a sense of unity, belonging, and support. Interact with them and listen to their experiences with forex brokers. Aside from that, it is also a great idea to generate a list of emails from attracted clients and send them newsletters to let them know about the latest offers from Tickmill.
It is important to understand that once you've successfully attracted new clients, you still need to retain them and ensure that they stick around for the longest time possible. In this case, you can offer them continuous guidance and exclusive materials to keep them trading. You can then increase the level as time goes by. For example, start by offering weekly webinar sessions to one-on-one sessions. Such a method can add value to clients and make them stay longer.
Final Thoughts
Becoming an Introducing Broker is a rather exciting opportunity for anyone looking for extra income. It's completely free of charge and doesn't have complex requirements. It is also a great advantage to promote Tickmill considering the broker's reputation in the trading community. You can get extensive marketing materials and offer various high-quality products to your potential clients, making it easier for you to earn commissions in return for your hard work. Just keep in mind that in order to be successful in this field, you need to have a good business plan. Make sure to do your research and put your client's interests as a top priority.
Tickmill is the brand name of Tickmill Ltd. which offers trading services with premium products and innovative technology. Superior trading conditions, ultra-fast execution, safety of client funds, and dedicated support are at the forefront of their offering.
10 Comments
Kristoff
Jan 30 2023
Ahh I think if you want to be an affiliate or in Tickmill it's called "Introducing Broker" you have to learn trade first. I mean the article has few steps to become IB in Tickmill and registration is very easy. And the article also shows some steps to get traders to join Tickmill but I think it is not easy to get the reward because if you look at the commission you will get $10 per lot for Classic account and $2 per lot for account Pro and VIP accounts with currency and metals trading ed which means you have to get your followers/traders to trade in that currency and you have to instruct them to meet the 1 lot condition meanwhile I know there are some currency that hard to trade and can make trader surrender because it can cause huge loss,
So, to lead your traders and make sure they are not getting margin call so early, if you also have trading skills you can easily guide them to avoid margin call and reached 1 lot trading by becoming a signal trader for other traders and you can share your trades or even guide on how to trade on multiple trading platforms, social media. So, I think you really need trading skills to be a successful IB.
Frendy L
Jan 30 2023
Kristoff: I think there is another challenge you may face before acquiring new clients. The minimum deposit you need to trade with Tickmill. I mean it's essential. If deposits at Tickmill require a lot of money, I think it will be difficult to get new clients. Also, don't forget about leverage, we need high leverage!
Forget about the leverage rule, because if you're IB, you need your clients to hit 1 lot, right? So if your client can get low deposit and get high leverage, for example: even if they lose the trade with $10, it is not a problem as long they deposit can reach 1 lot trading, they will have no problem. They should also be informed about the high risks in Forex so that they understand if they can lose even with one trade.
Kristoff
Jan 30 2023
Frendy L: I disagree if we become IB just for your client to hit the commission target. I mean it's also affects our good name. If you make them trade and they get all the deposit runs out, I'm afraid they will stop trading Forex even blaming you, and spread bad things about you. As you know, even brokers will not have perfect rating at all.
And also, there is another problem if your current clients stop trading, it means you can't get constant commission, it means you have to get a new client since you can't force them to do the trade. Meanwhile, as you said, acquiring new customers is another challenge.
You can say all sorts of good things about tickmills but you have to guide them, their loss is their gain are also yours. Be a good IB, man then your clients will feel satisfied and introduce other new client to you. The power of Mouth to Mouth Marketing.
Joshua Kimmich
Jan 30 2023
Frendy L: The Tickmill accounts that IB must introduce are Classic, Pro, and VIP which their deposits are : Classic and Pro need to deposit $100 meanwhile VIP $50,000 with high leverage, 1:500.
So, although Tickmill leverage is high, apparently I agree with Kristoff , we need to responsible about our clients trading if we really focus to become IB of Tickmill because $100 is not small money for some traders, you need to educate them before they really want to trading, making sure that they know the risk that they will face if they trade CFD thing
Jorge
Jan 30 2023
Introducing the broker program is, in my opinion, a side job for a complete trader, as the profit they get on trading is much higher than the commission you would get if you became an IB. I mean, if you start trading, you will focus on trading, not becoming an IB.
If you calculate the commission well you will earn, for example, 10$ if your client achieves 1 lot of trades, if he trades with 0.01 lots, he needs 100 trades to do it, while as you know forex trading takes time! From learning in the demo account, it takes at least 6 months. So instead of focusing on IB, I will focus on my trading. Find the right trading style and learn about 6 months, join live forex and start making money. It's better for me and if I become an IB, it will become my side job
Jenny
Mar 15 2023
Hey there! After reading the article and the comments, I've started to have doubts about becoming an IB in Tickmill. I'm really interested in trading Forex, and being an IB seems like a great way to earn additional cash while learning the ropes of trading. However, I don't have much trading experience. So, my question is, do I need prior trading experience to become a successful IB in Tickmill, or is it possible for individuals without trading experience to excel in this role?
Thomas Alvarez
May 29 2023
@Jenny: Hey! That's a great question. While having prior trading experience can certainly be advantageous, it's not necessarily a requirement to become a successful IB (Introducing Broker) in Tickmill or any other broker for that matter. As an IB, your primary role is to introduce clients to the broker and earn commissions based on their trading activity.
Even without direct trading experience, you can excel as an IB by focusing on other essential skills. These include networking, building relationships with potential clients, effective marketing, and providing exceptional customer service. By leveraging these skills, you can attract clients to Tickmill and guide them through the account opening process and various trading offerings.
Of course, having a solid understanding of the basics of forex trading can be beneficial, as it allows you to communicate effectively with your clients and address their questions or concerns. You can always enhance your knowledge by utilizing the educational resources provided by Tickmill or pursuing external educational materials.
Fikre Alamas
Apr 15 2023
How does Tickmill compare to other brokerage firms in terms of its Introducing Broker program, and what are the unique features and advantages of choosing Tickmill as an IB partner? Additionally, could you discuss any potential drawbacks or limitations associated with the IB program on Tickmill, and provide tips and strategies for new IBs who are looking to build a successful and profitable business on the platform?
Nahid Islam
Apr 15 2023
@Fikre Alamas:Tickmill offers an Introducing Broker (IB) program that allows individuals and businesses to earn commissions by referring clients to the platform. Compared to other brokerage firms, Tickmill's IB program offers competitive commission rates and a range of tools and resources to help IBs grow their business.
One of the unique features of Tickmill's IB program is the ability to customize commission rates based on the volume and frequency of referrals. IBs can earn commissions ranging from $5 to $10 per lot, depending on the total trading volume generated by their referrals. Additionally, Tickmill offers a multi-tiered commission structure that allows IBs to earn additional income by referring other IBs to the platform.
Tickmill also provides a range of marketing materials and support resources to help IBs attract new clients and build their business. These include customizable landing pages, banners, widgets, and other promotional materials that can be used to advertise the platform and its services. The platform also provides dedicated account managers who can offer guidance and support to new and existing IBs.
One potential drawback of the IB program on Tickmill is the relatively high minimum payout threshold of $100. This means that IBs must generate a certain amount of commissions before they can withdraw their earnings. Additionally, the platform may require additional documentation and verification processes for IBs who refer clients from certain regions or jurisdictions.
To build a successful and profitable business on Tickmill's IB program, it is important to focus on building a strong network of clients and establishing trust and credibility within the trading community. This can be achieved through targeted marketing and advertising campaigns, as well as by offering value-added services such as market analysis, education, and personalized support to clients. Additionally, it is important to stay up-to-date with industry news and trends, and to constantly adapt and evolve your business strategy to stay ahead of the competition.
Potter
May 31 2023
What are the advantages of becoming an Introducing Broker (IB) rather than a referral partner on Tickmill? How does being an IB provide additional benefits and opportunities for individuals interested in referring clients to Tickmill? Are there specific perks or incentives that IBs receive, such as higher commission rates, access to additional resources, or enhanced support from the broker? Additionally, what are the main differences between being an IB and a referral partner in terms of responsibilities, earning potential, and the level of involvement with clients? It would be helpful to understand the advantages of choosing the IB program on Tickmill and how it can contribute to a more rewarding and successful partnership with the broker.