Partners FAQ
Table of contents:
IB
- What is necessary to become Forex Club Introducing Broker (IB)?
- How long does the IB approval process take place?
- What is the average payout level for IBs?
- For which trading platforms can IBs solicit clients and get commissions on?
- What information is available for IBs in the ActTrader Reporting tools?
- What languages does the IB backoffice support?
- Can IBs get access to the clients’ contact information when they register for a demo account?
- Does Forex Club offer Islamic accounts?
- What is the payout schedule for IB commissions?
- How are clients assigned to a particular IB?
- How to reassign a client if a client did not follow unique link or failed to indicate Introducing Broker unique ID number while applying for trading account?
Money Management
- Can an IB receive both IB commissions and Money Management compensation on managed accounts?
- What platform can be used for managed accounts?
- What is the maximum amount of accounts that can be managed under one master account?
- What allocation methods are available on ActTrader platform?
- What is an allocation mode?
- What is fixed default amount allocation?
- What is proportional allocation?
- What is proportional one lot minimum allocation?
- How to set an allocation mode?
- How many managed groups can a money manager create under one master account?
- What is the maximum amount of fees and commissions Money Mangers can charge the clients?
- What registration requirements are needed in order to become a Money Manager?
- Does Forex Club manage funds on clients’ behalf?
White Label
- What is necessary to become a White Label partner of Forex Club?
- What platform is used for White Label Partners?
- What platforms can be customized?
- What is the average setup time?
- What are the service fees for full White Label program?
- Are there any other White Label options available?
| IB |
| 1. What is necessary to become Forex Club Introducing Broker (IB)? |
- In order to become Forex Club Introducing Broker it is necessary to fill out an IB registration form, sign IB Agreement and open up an individual or corporate account which will be used for IB payouts.
- All IBs that intend to introduce US residents must contact our U.S. office located at:
www.fxclub.com/partner-registration
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| 2. How long does the IB approval process take place? |
All IBs must go through the standard approval procedure. IB review and setup is usually completed within 1 week.
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| 3. What is the average payout level for IBs? |
Forex Club offers competitive partnership terms by sharing its spread revenue with IBs. Eligible partners can do a spread mark-up or charge additional commissions subject to Forex Club approval.
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| 4. For which trading platforms can IBs solicit clients and get commissions on? |
Currently, IBs can solicit clients to open trading accounts on ActTrader, MetaTrader 4, StartFX, and Rumus trading platform.
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| 5. What information is available for IBs in the ActTrader Reporting tools? |
- IBs can see the commission in real-time for each trade for each assigned client.
- IBs can see the list of all newly introduced clients.
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| 6. What languages does the IB back office support? |
| Back office for IBs is available in 10 different languages (German, English, Spanish, French, Portuguese, Russian, Arab, Chinese and Japanese) |
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| 7. Can IBs get access to the clients’ contact information when they register for a demo account? |
| Unique links for demo account registration and Demo Account Partner Portal access can be provided to qualified IBs that have solicited at least 10 clients each with standard $2,500 accounts. Demo Account Partner Portal will provide IBs with real-time reports on all incoming leads with the clients’ full name, phone number and email. IBs will be responsible for Demo Account Partner portal monthly service fee of $100, which will be deducted from the monthly commissions. Demo Account Partner portal setup up takes up to 5 business days. |
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| 8. Does Forex Club offer Islamic accounts? |
| Islamic accounts are available for partners from Islamic countries only. A separate Agreement and arrangements must be made. |
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| 9. What is the payout schedule for IB commissions? |
| All IBs are compensated on a monthly basis (every 15th of the following month). The accrued commissions are deposited directly to the IB’s live trading account and can be withdrawn at any time. |
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| 10. How are clients assigned to a particular IB? |
The clients are assigned using a unique IB link that is generated upon partner approval. If client submits a live account application using this unique link all client’s trading accounts will be automatically assigned to this IB.
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| 11. How can I reassign a client if he did not follow the unique link or failed to indicate Introducing Broker unique ID number while applying for trading account? |
| If during the application process client did not fill out the IB unique code or did not follow the unique registration link, in order for the client to be assigned under IB, client must sign the Partner Assignment Form and specify the partner unique ID number within the 30 days after the application. No clients past due can be re-assigned. IB commissions will start accumulating only from the moment the client has been assigned. |
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| Money Management |
| 1. Can an IB receive both IB commissions and Money Management compensation on managed accounts? |
| YES, subject to Forex Club approval as described in the Fee Schedule Guide. |
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| 2. What platform can be used for managed accounts? |
| ActTrader platform is available for managed accounts. MetaTrader 4 will be available for managed accounts as of June 11, 2011. No managed accounts are accepted for ExpressFX and Rumus platforms. |
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| 3. What is the maximum amount of accounts that can be managed under one master account? |
There are virtually no limits on the number of accounts that can be traded under one master account. In order to get the best execution we recommend to use not more than 200 accounts under one managed account group.You can have as many groups of accounts as necessary.
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| 4. What allocation methods are available on ActTrader platform? |
- Fixed default amount
- Proportional
- Proportional with one lot minimum
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| 5. What is an allocation mode? |
| Managed order amount allocation mode determines how lots/amounts are distributed among the individual managed accounts when performing transactions with a managed group. Only the accounts with sufficient usable margin are be included in transactions. |
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| 6. What is fixed default amount allocation? |
- Fixed default amount: Lots/Amounts will be distributed according to the individual DA of each account. The DA of a managed account is the sum of the individual accounts’ DAs. Managed accounts can only be traded in amounts that are multiples of the sum of all individual participating accounts’ DAs. Example:
- Managed Acct X has DM = 8
- Managed Acct Y has DM = 4
- Group Acct Z – the amount of lots for a position = 12 (or multiple of 12)
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| 7. What is proportional allocation? |
- Proportional allocation: Lots/Amounts in the group order will be distributed in proportion to the maximum number of lots that can be open on individual participating accounts. Example:
- Managed Acct X has Equity = 5,045,175
- Managed Acct Y has Equity = 52,383
- Group Acct Z – when we open a position for 2 standard lots Acct X gets 2 lost, Acct Y gets 0
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| 8. What is proportional one lot minimum allocation? |
- Proportional with one lot minimum: Lots/Amounts in the group order will be distributed in proportion to the maximum number of lots that can be open on individual participating accounts, but each account with sufficient usable margin will receive at least one lot. Example:
- Managed Acct X has Equity = 5,045,175.81
- Managed Acct Y has Equity = 52,383.21
- Group Acct Z: when we open a position for 2 lots Acct X gets 1 lot, Acct Y gets 1 lot
- When we open a position for 5 lots Acct X gets 4 lots, Acct Y gets 1 lot
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| 9. How to set an allocation mode? |
| Allocation mode can be set by the money manager directly from ActTrader platform available in the main settings menu. |
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| 10. How many managed groups can a money manager create under one master account? |
| There is no limit to the number of managed account groups a money manager can create under one master account. |
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| 11. What is the maximum amount of fees and commissions Money Managers can charge the clients? |
| Contact us for the last version of the Fee Schedule Guide for details. All fees must remain within the industry standards and are subject to Forex Club approval. |
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| 12. What registration requirements are needed in order to become a Money Manager? |
| Money Managers must comply with the laws of their country of residence or of the country in which client acquisition is performed. |
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| 13. Does Forex Club manage funds on clients’ behalf? |
| No, Forex Club does not accept any client’s funds for money management. Managed accounts can only be traded by third party traders. |
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| White Label |
| 1. What is necessary to become a Full White Label partner of Forex Club? |
- Full White Label partnership option is offered only to well-established financial entities. The minimum set of requirements include the following:
- Partner must demonstrate a significant amount of business volume with Forex Club
- License to offer retail forex services in the region of operation and ability to hold clients' funds.
- At least 2 years of operating history
- Audited company
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| 2. What platform is used for White Label Partners. |
| White Label Partners are provided with ActIB platform, which is used as a back-office solution. Starting on June 11, 2011, MetaTrader 4 will be available to partners as a white label solution. This back-office allows complete customization and setup opportunities that are available for all independent forex brokers. On the front-end partner’s clients will see ActTrader platform branded and customized according to the partner’s requirements. |
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| 3. What platforms can be White Labeled? |
| All versions of ActTrader platform can be completely white labeled, including ActTrader Desktop, Web, Mobile, iPhone, iPad, and Droid applications. |
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| 4. Average setup time? |
- Desktop, Web and Mobile platforms - 1 business week.
- iPhone platform - 4 business weeks.
Setup time can be extended depending on the complexity of partner’s requirements. |
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| 5. What are the service fees for Full White Label program? |
- The service fees vary depending on the platform that you decided to White Label. Special arrangements can be negotiated with large volume partners. Contact our Institutional Sales Team for more details.
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| 6. Are there any other White Label options available? |
There is also an attractive Co-Branded (Limited) White Label partnership option suitable for firms that don’t want to have the responsibilities of a Full White Label, don't want to hold clients' funds or provide client support.
This co-branding option does not require buying ActIB user license and includes customized logo, company name and some basic customizations.
Fill out partner registration form for details and choose White Label.
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Start your business with Forex Club's White Label program:
Fill Out Partner Registration Form
