If you run a brokerage business and want to boost your market presence, you probably consider starting an Introducing Broker (IB) program. IB programs allow you to secure valuable partnerships and significantly expand your reach to a broader audience of active traders. 

The management of these partnerships becomes effortless with the right software, and that’s where B2Core CRM’s advanced features come in, offering unrivalled capabilities to handle such programmes conveniently. This guide will navigate you through the process of setting up a new Introducing Brokers partnership program within B2Core CRM.

Key Takeaways

• B2Core technology allows companies to establish their own Forex introducing broker program, increasing their customer base and providing the best trading conditions.
• B2Core gives brokers an overview of affiliate IB partnership options, the revenue generated, and much more.
• IB Room is equipped with advanced analytics, promotional tools, referral links, QR Codes, geolocation tracking, and easy API integration for brokers.

What is B2Core’s Introducing Broker Program?

An introduction broker program is a brokerage business arrangement where one broker, known as the primary or principal broker, partners with another one to introduce clients and direct them to trade with the primary firm. These IBs act as intermediaries between the primary broker and their referred customers, receiving a commission for each successful referral. Usually, IB partnerships can be managed through brokerage CRM systems.

B2Core’s IB functionality offers a fully customisable solution that allows brokers to create and manage multiple partnerships with ease. Forex IB program capabilities in B2Core provide a comprehensive overview of all IBs, their clients, and the generated revenue. This valuable data allows brokers to streamline their partnerships further by identifying top-performing IBs and allocating resources more efficiently.

How to Set Up the Introducing Broker Program in B2Core

Here is a step-by-step guide to setting up and managing the IB Program from B2Core CRM:

1. Define Business Requirements

Before diving into the technical setup, it is important to clarify the parameters for your IB partnership program. These specifications should represent the goals and preferences of you and your partners.

As a part of this step, decide on the number and types of partnership programs, joining options, reward calculation methods, and other relevant information. Some of the essential details to specify for each partnership program include:

• Name: Provide a unique name for the partnership program.
• Registration Process: Determine the options for joining the program. B2Core CRM offers auto-creation of IB accounts, public application, private invitation, or restricted access.
• Payment Plans: Define the payment preferences for calculating rewards. You can check this page to learn more about the different plans B2Core offers.
• Rewards: Specify the payment period for partners, such as hourly, daily, weekly, or monthly.
• Currencies: Determine the currency in which partners will receive rewards.
• Personal Data: Decide on the visibility of a client’s personal data to partners.
• Levels: B2Core uses a multi-level system to determine the participants in the reward chain from the partner to the trader. Decide on the number of levels and their corresponding rewards for your program.
• Tiers: Specify the number of tiers to determine extra motivation based on active trader numbers and trading volume.
• Platforms: Lastly, determine which trading platforms you want to include in your partnership program.

2. Obtain Necessary Credentials

Once you have fully figured out what your program needs, acquire the necessary credentials. In B2Core CRM, this can be done by contacting your system administrator. The information you will need includes:

• API Base URL: The base URL of the B2Core CRM API.
• Client ID and Client Secret: Unique identifiers for authenticating API requests.
• Weblate Endpoint, Project, and API Keys: Information required for integration with the Weblate platform, a web-based translation management system.
• Hostname: The hostname used in the B2Core user interface.

These credentials will enable you to access and configure the necessary components of the IB program.

3. Grant Permissions

To effectively manage an IB program, grant the appropriate permissions to your users. By granting permissions, you can control who can perform various actions within the system.

• Navigate to the System section and select Groups.
• Choose the relevant user group and click the edit button.
• Expand the Introducing Brokers section and select the desired checkboxes for permissions, such as view, create, update, delete, import, export, and run process.
• Save the changes to apply the permissions.

Granting permissions ensures that your team members have the necessary access to manage the IB program effectively.

4. Authorise API Access

To integrate B2Core CRM with other systems and obtain an API access token, you need to authorise API access.

• Go to the Introducing Brokers section, select Preferences, and then click on Network.
• Fill in the required fields, including the API Base URL, Client ID, and Client Secret.
• Save the changes to obtain an API access token.
• Test the access token by clicking on the Test button. If the token is valid, a green checkmark will appear.

5. Configure Mail Templates

To effectively communicate with your partners, it’s important to configure mail templates. These templates will be used for various communication purposes, such as notifying partners about program updates, approvals, or rejections.

• Go to the System section and select Templates, then choose Template Types.
• Ensure that the necessary mail template types (IBRequest_toManager, IBRequestConfirmed_toClient and IBRequestRejected_toClient) are enabled.

You can also create custom mail templates there for specific purposes.

6. Set up localisations

To provide a localised experience for your partners, it’s important to enable localisations within B2Core CRM. This involves integrating with the Weblate platform.

• Go to the System section and select Settings.
• Fill in the required fields in the Weblate section, including the Endpoint, Project, and API Key.
• Save the changes to enable the integration.

7. Activate Operations

To ensure that rewards are accurately credited to your partners, it’s important to enable the necessary operations within B2Core CRM.

• Go to the System section and select Operation Types.
• Check if the “partners” operation type is enabled. If not, enable it.

Enabling it ensures that rewards are properly credited to your partners’ accounts.

8. Set Up Accounts

Create products for accounts that will be used to transfer rewards to partners. You will need to define platform details, currency details, name, type of account, and rights.

• Go to the Products section and select Platforms.
• Ensure that the “Personal” platform is enabled. If not, enable it.
• Go to Products and click on Create.
• Select the Personal value from the drop-down list.
• Fill out the form.
• Save the changes to apply the configuration.
• Customise the account settings, such as caption, status, rights, default account rights, and maximum accounts, if applicable.
• Save the changes to finalise the account configuration.

Configuring accounts ensures that your partners have dedicated accounts to receive their rewards.

9. Add Trading Platforms

The platforms on which the B2Core IB will be implemented need to be added in this step.

• Go to Introducing Brokers and select Platforms.
• Click on the Create button.
• Fill out the form with the required details, such as provider, platform, and name.
• Save the changes to apply the configuration.
• To edit the entered information, click on the Edit button.
• Go to the Drivers tab and test the connection by clicking on the Test Connection button.

It is important to have trading platforms configured in the Back Office, so make sure to create and configure the required platforms before starting the IB program. If you encounter any difficulties, contact your system administrator for assistance.

10. Establish Payment Methods

Your partners will need a way to receive their rewards. B2Core IB allows you to configure different payment methods for this purpose. 

• Go to Introducing Brokers and select Payments.
• Click on Methods and choose the Wallet method, which transfers rewards directly to your clients’ wallets by default.
• Under the Drivers tab, select Create.
• Choose a PDO provider in the Provider field.
• Save the changes to apply the configuration.
• Test connection with the server.

11. Manage Currencies

The next step is to configure the currencies in which your partners will receive their rewards:

• Go to Introducing Brokers and select Payments.
• Click on Currencies and make sure all the required currencies are listed. If not, you can create new ones by clicking on the Create button.
• Fill in the necessary details to configure a new currency.
• Save the changes to apply the configuration.

12. Set Rates

Define the rates for reward calculation. The CryptoCompare rate provider is used for this purpose.

• Go to Introducing Brokers and select Payments.
• Click on Rates and choose the pre-configured CryptoCompare rate provider.
• You can test the connection by clicking on Test connection.

13. Set Up Links

To attract potential partners to your program, you need to distribute links to your landing page:

• Go to Introducing Brokers and select Promo.
• Click on Landings and then choose the Links tab.
• Select the link name, such as “Sign Up”.
• Enter the URL provided by your system administrator in the given field.
• Fill in the Affiliate token and select whether you want to encrypt it or not.
• Save the changes to apply the configuration.

14. Monitor Processes 

To keep track of the processes running on your server, you can use the Processes tab in the Introducing Brokers section:

• Click on Run processes.
• Choose the process name as “Run diagnostics” and click on Run processes to execute it.

Features of B2Core’s IB Room

IB Room is a dedicated, fully integrated solution within B2Core’s CRM system, designed to manage Forex broker affiliate program specifics efficiently. It offers essential tools and features to facilitate the management of partnerships and track their performance seamlessly. Some key features of the IB Room include:

Advanced Analytics

Brokers can analyse data from all channels and track the effectiveness of targeted advertising campaigns. This includes monitoring partner activity, clicks, and registrations with detailed data such as referrer, landing page, language, media, device and more. Brokers can also receive reports and rankings by country, geographic region, traffic sources, and partners to measure performance metrics such as click conversion rate and lead conversion rate.

Promo Banners

B2Core provides access to promotional banners for affiliates, which can be customised in terms of size, theme, and language to target specific audiences in various countries or websites. This feature is an effective marketing tool for attracting clients and increasing brand awareness.

Referral Links

B2Core offers unique referral links for each affiliate, making it easy to direct online and mobile traffic from different channels – like paid search advertising, email, messengers or social media – to trading products. This feature saves time in generating links for referral programs and speeds up the process of working with general traffic.

QR Codes

With a special QR code generator, B2Core’s IB program allows for extensive customisation options for promoting trade products on various materials like banners, flyers, mail, magazines or even at events. This feature is particularly useful for offline marketing efforts and can track the effectiveness of QR code campaigns.

Geolocation Tracking

This feature allows brokers to track customer and access geolocation data like longitude, latitude, country and geographic region in real-time. With this information, brokers can gain insights into their clients’ preferences and tailor their marketing efforts accordingly to maximise lead conversions.

Easy API Integration

With B2Core’s user-friendly API, brokers can seamlessly connect third-party applications to their Forex partnership program or integrate them into their overall business model. The API provides clear documentation, technical specifications, and code examples for easy integration.

Closing Thoughts

B2Core is a reliable CRM system that offers technology for companies to establish their own network of partnership programs, ultimately increasing their customer base and providing the best trading conditions to their new clients. By leveraging this opportunity, forex companies can stay relevant and thrive in ever-evolving financial markets.

FAQ

Where can I find more information about the B2Core’s Forex IB partnership program?

If you are a broker interested in learning more about B2Core’s IB program, you can contact our team for more information. For more details on the features of IB Room, you can also refer to our documentation page.

Can I customise the features of B2Core’s Forex IB partner program?

Yes, B2Core’s IB program offers a range of customization options for brokers to tailor their partnership programs according to their specific needs. From custom promo banners and referral links to QR code designs, geolocation tracking and API integration, brokers can choose and configure the features that best suit their business goals.

How does B2Core’s IB program help in client acquisition?

B2Core’s IB program provides a comprehensive set of tools and features for brokers to manage partnerships and attract potential clients through various channels effectively. From advanced analytics to promo banners, referral links, QR codes, and geolocation tracking, brokers can leverage these features to boost their marketing efforts and acquire more clients. Additionally, the program’s easy API integration allows for seamless connection with third-party applications, expanding the reach of potential clients.

Is B2Core CRM only suitable for Forex companies?

B2Core can be used by different types of financial services firms and businesses, such as crypto exchanges, web-wallets, converters, and Forex and crypto brokers, to manage partnerships and track performance. The program offers customisation options that can be tailored to fit the needs of different types of businesses in the financial industry.