Spot Fx www.spotfx.com/ is pleased to announce the launching of the IB tracking code for introducing brokers (IBs).
An introducing broker is a person or organization that provides investing advice or counsel to an investor, but does not actually handle transactions. Generally speaking, introducing brokers make recommendations while delegating the task of executing trades to someone at the same or with a different firm who operates on a trading floor.
The introducing broker and the person(s) who execute a transaction split the fees and commissions according to some agreed upon arrangement. The clearing firm, not the introducing broker, receives payments and securities from the clients and handles record-keeping.
The introducing broker, who earns a commission on the transaction, typically pays a fee for each trade and interest on margin loans the clearing firms make to the clients it introduces.
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