In our previous post me mentioned that if you really want to make $2.000, $5.000 or more in IB commission you need to actively use Social media to reach over as many potential traders as you can and try to deal with traders with at least some experience, because they will bring you most IB commission.
You may ask: “OK, is there any specific thing I need to do to become successful IB?” Well, there is one magic solution here: you need to cater your client needs and provider them with valuable information. If you translate in normal human language this means you need to understand what your potential clients want to have and give it to them. You may be a coder and you can create robots (Expert advisors) for trading or set up VPS. Or you can share signals with others or teach them how you trade. You may simply become a point of contact to your clients and help them solve their problems fast. Clients appreciate this.
What matters, is not what SERVICES are offered. It is rather HOW you market them.
Here comes second part of equation: whatever you decide to do, you have to do it well. We all want to have good service and quality product. Do you think that if your robot fails all the time clients will stay with you long? Can you imagine what they will tell each other if they ask you a question and you rely 3 days later?
If you decided to be a good partner and have something to offer your clients, do your work well. Try to become a professional.
Let’s take an example: you are a good trader and your share signals with your clients. No matter how good your signals are, it is all useless if others don’t know about this. Hence you need to go to Facebook or Telegram or Whatsapp and tell others about this. But do it professionally. Tell others basics about how you trade and select signals, what experience you have and what others can expect from you. Be honest and transparent. Remember, as it has been mentioned you need to reach out to at least 2000 people before you can see stable IB commission.
Once first clients contact you try to maintain long term relations with them. It is always easier to maintain existing client than to find new one. Offer them some extras for free of with big discount. For example, you give 3 signals a day. Offer them 5-6 signals instead for some time. If they make more in profits, they will stay with you longer and tell others about you. Ask them to share about you on Facebook and give them some small gifts. For example, if you are an IB in Tickmill you can ask some branded high-quality T-shirts or caps to give to your clients if they market you. We will send them to you, because if you have more clients, they will trade in Tickmill and it is good for everyone. Or else you can talk to Tickmill and do some small promotion only for your clients where Tickmill with provide gifts. Again, it is great to maintain good relations with your existing clients. And it does not cost you anything.
Be consistent. If you decided to run Facebook page, or group on Whatsapp or Telegram, do not quit in 1 week. It will take you minimum 3 months before first results come. Carry on with marketing this group or page. Clients will come.
Work with good broker. It is one of the most important points, though may seem not so obvious. When you approach a client and offer him to join your broker, automatically you become responsible for whatever this broker does. If something goes wrong with this broker clients will blame you first. You don’t want to be responsible for broker mistakes.
Apart from it if you deal with good broker, it is easy to sell it. For example, if you market Tickmill you can tell clients that they will pay for their trading 2-3 times less and it is easier to profit with Tickmill. You may point at https://www.myfxbook.com/forex-broker-spreads where clients can compare Tickmill spreads and commissions with other brokers.
If you deal with broker with good reputation, with well-established licenses, it will help you prove potential clients that this broker will not take their money and disappear one day.
Lastly, when you deal with good broker and your clients are happy, they will tell others about you and your broker and they will bring you even more clients. People tend to trust the ones they know, this is why friends may bring their friends and they can bring their friends and so on.
Be a pro in what you do, which means there are some things you should avoid doing. For example, people hate when you try to aggressively sell them immediately. Instead of telling them: you join my closed VIP group if your account has minimum of $1000, you better offer them a few but free signals for free. Once they try it, if they like it, then you can talk to them about VIP groups.
Do not talk bad about competitor brokers. You may compare your broker with others, you may state facts: spreads and commissions in Tickmill are on average 2-3 times lower than with other brokers. But please do not black paint other brokerages. Give clients facts, help them check them and let them decide themselves.
Lastly, no matter how good you are as a signal provider or in what you decide to do, if your broker is bad, this will ruin all your efforts. make sure you are on the same side with your broker.
Read over the above if you want to be making $2.000, $5.000 or $10.000 a month in IB commission and start applying advises one by one. Become a pro in what you do and make sure people know about it. The more know, the more clients you will have eventually, some of them will trade and some of them will not.
Which ones do you want to have? On which people do you want to spend your time? The ones who will trade or the one who will only be asking questions? Here comes another question: how do you distinguish who will trade and who will not?
Let’s talk about it in the next post.
