The LiteForex Introducing broker program is one of the best forex IB programs available. Those familiar with the process to signing up to an Introducing Broker program know that it usually takes a whole lot of time and paper work, but LiteForex’s IB program makes it fast and easy to sign up. In fact, IB’s can start promoting LiteForex as soon as their account is made active.
LiteForex has been operating since 2005 and is registered in Seychelles and licensed by SIBA, the Seychelles International Business authority. Offering products such as Forex, CFD’s and metals, they make for a solid brand for forex affiliates as well as IBs to promote. They offer different kinds of partner programs suited for clients at all levels. In other words, traders can introduce others to join LiteForex and earn commissions. Their “Internet Partner” program is the default IB program offered, while a regional representative program is more advanced and allows for business cooperation with LiteForex.
LiteForex also offers a complete white label solution as well, which is as easy as uploading the files to your web server.
Introducing Broker Commissions
LiteForex offers commissions of up to 2 pips for each transaction made by a referred client. Because LiteForex offers an IB program, CPA is not an option. An example of the earnings for LiteForex:
Client A traded 10 lots on the EURUSD pair. Introducing Broker income amounts to 10 x $20 = $200
Client B traded 100 lots on the EURUSD pair. Your income amounts to 100 x $20 = $2,000
Your income: 200+2,000 = $2,200
The IB program offers the following marketing materials:
- Animated/Static and Flash banners
- Trading articles and manuals
- Forex widgets
- Trading calculators
- PSD brochures for offline marketing
Utilizing the above marketing materials is as simple as navigating to the marketing material of your choice and clicking on the banner or relative elements and copy pasting the code that is generated.
The reporting structure at LiteForex is fairly straightforward. However, after you join be sure to go to ‘Site>Statistics>Web site registration’ in order to add your website for a detailed analytics or in case you have more than one forex affiliate site.
The Sites statics section gives a high level break up of visits, registrations, and depositing accounts categorized on the websites you add.
LiteForex calculates the introducing broker commissions in real time, thus making it easy for IB’s to monitor the commissions in real time. Further more, there are no hidden terms, so LiteForex a fully transparent Introducing Broker program. Irrespective of the number of referals sent to LiteForex or for how long the affiliate’s link has been registered, LiteForex IB’s can order payouts of the commission at any time. This eliminates the need for waiting for a certain period of time to withdraw the IB commissions.
LiteForex Prepaid Card
LiteForex offers a convenient method of payment in the form of a prepaid LiteForex Card. Powered by MasterCard the LiteForex card can be used at any ATM or anywhere that accepts MasterCard.
There is cost of $15 (which is deducted from the affiliate’s balance) to order the card and it takes around 14 business days for the card to be delivered. A seperate login is sent to the IB to manage their affiliate transfers to the card.
How To Join
In order to promote LiteForex, IB’s need to first create a client account. Registration is simple but do pay attention to verifying your account, which includes a SMS verification followed by uploading a Photo ID and a utility bill (at the latest 3 months old) as proof of address.
The client interface has a dynamic message system that keeps you abreast of your current status with LiteForex. Once the documents are verified the account is fully activated, but you can actually start promoting LiteForex immediately. (It takes about 1 business day to have your IB account activated).
LiteForex Introducing Broker Program – Conclusion
LiteForex is one of the few forex brokerages that seem to consider all aspects while building their partner program. The ease of use in signing up, plus the prompt support available via live chat, email and Skype makes it very simple for Introducing Brokers to contact partner support. With 2 pips commission per transaction and taking into account the above factors, joining LiteForex is ideal for experienced introducing brokers as well as forex affiliates who wish to expand their affiliate business further. Especially for those who have never signed up as an Introducing Broker, the LiteForex Introducing Broker Program should be the program to join.