For anyone considering becoming an IB: what an IB is, Master IBs and multi-level networks, rebate and markup, how commission is worked out, and the duties.
IB commission is the round-turn lots multiplied by the rebate for each product group; a Cent account is counted in pips, so you multiply by the pip value as well. This guide works an example for each group, and covers the 75 USD threshold per payment period, the 25 USD withdrawal fee and how commission is reconciled under CXM Direct's IB agreement.
A Master IB is an IB that runs a network of several other IBs. CXM Direct states there is no limit on IB levels: each level above keeps part of the rebate, and the last level receives the rest. This guide explains how the money flows, works an example of splitting the rebate per lot, and shows that responsibility does not shrink when there are more levels.
A rebate is the share the broker pays an IB based on the volume the client trades. A markup is an amount added to the client's spread that the broker then pays over to the IB. This guide separates the two under CXM Direct's IB agreement: who bears the cost, whether the client gets to know, and what an IB is not allowed to do.
An IB (introducing broker) introduces clients to a broker and is paid commission on the trading volume of those clients. This guide sets out where that commission comes from, how an IB works, what a broker usually provides, and the legal limits, the conflict of interest and the responsibilities that come with the job.
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