The deliverable for this project is a competitive research report focused on a survey of existing forex introducing brokers. The scope of the project is limited to what is known as the retail, off-exchange, or spot forex market whereby investors place forex trades and hope to profit from changes in foreign exchnage rates, also known as currency conversion rates. Introducing brokers (IB) have a specific function within this market, as described on the National Futures Association web site ([url removed, login to view]). IBs solicit traders to open accounts on behalf of a Forex Dealer Member (FDM) in exchange for a portion of the markup charged to the trader by the FDM. Although less common, IBs may also accept trades from traders and pass them on to the FDM; however, IBs are not allowed to accept or hold money from investors.
The report should be 3 to 5 pages in length, and must include a list of the ten IBs with the strongest internet presence, along with an analysis of tactics used to solicit clients/traders. Included in the list must be a summary of the observed value proposition for each IB.