How Important is the Platform for an IB?

trading platform importance introducing broker

Forex IBs should work with a brokerage firm that offers a trading platform clients like. If traders don't like the platform or find it too difficult to use, they will probably not want to open an account with the broker who offers it. Convincing potential clients to open accounts will become an uphill battle for the introducing broker.

But as an IB, how do you choose what platform to offer your clients? We recommend a solution that may seem obvious: go with the platform that most traders prefer. In the retail FX market, that platform hands down is MetaTrader 4 (also known as MT4). In our opinion, it is the de facto standard in the industry, the Microsoft Windows of the FX industry. That's the reason more brokers today offer MetaTrader than any other platform.

In addition to being the most popular with customers, MT4 offers another big advantage to referring agents who use it: broker portability. If an introducer to an MT4 broker wants to part ways with his or her current firm for any reason, it'll be a lot easier to convince customers to move their accounts over to another MT4 firm than to one with a proprietary platform customers are not used to. Furthermore, agents who have created educational materials and website content using MT4 examples won't have to scramble to update everything if they switch to another MT4 broker. These reasons should give FX agents great peace of mind, since they'll have a viable "exit strategy" in case things don't go as planned with their broker.

Given the amount of dedication and effort IBs put in growing their businesses, it is only logical to protect what they have created by sticking with the right platform. MT4, anyone?

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