A significant challenge that faces Forex Brokers and money managers today can add and track referrals and accounts in real time. Referral tracking becomes especially challenging when using a platform like MetaTrader 4. For many Forex Brokers, multiple levels of referrals must be tracked manually. This can be frustrating for brokers and money managers that must wait for monthly payouts to find out their revenues.
This can also be challenging in markets in Asia where it is prevalent for Introducing Brokers to have multiple levels of clients to compensate for referrals. There are now tools available that instantly give IBs the ability to create new levels and track them in real time. This also frees up the time for the Forex Broker’s staff from having to manually setup and create these multiple levels of accounts and Sub IBs.
The way it works is that the original IB is given a tracking link and QR code. Any of the newly referred accounts can be modified from an account to an IB. The new IB is then offered his own tracking link and QR code and is now a new Sub-IB of the original. Commission splits can be set from the IB side so once again no input needed from the Forex Broker. Trading is tracked in real time, and the Sub IBs do not see the higher level IBs activity, so privacy and security are maintained.
Payouts are also simplified as the Sub IB account has already established a payment method and has been verified for AML.
To Learn More about Multi-Level Account Tracking, please visit fxtradingpro.com