Affiliate program «IB Pro»
«IB Pro» affiliate program (abbreviation for Introducing Broker) is designed for both professional financial services market participants and individual traders whose income is constituted by agent's fees for attracting clients to the partner company, rather than by earnings from trade transactions.
A distinctive feature of the ForexChief affiliate program is that the partner’s remuneration consists of two parts: CPA (cost-per-action) remuneration up to $300 for each attracted client, and the subsequent «eternal» remuneration for the client’s turnover calculated on a progressive scale − the higher the turnover, the higher the remuneration.
How «IB Pro» works
- For each attracted client the partner receives not only an endless remuneration for turnover but also a lump sum payment of up to $300.
- Remuniration by the CPA model is available only to partners who have at least 5 attracted clients with trading history. If the partner has not yet reached such a number of referrals, then CPA remuneration will be paid later, as soon as the condition is met.
- The amount of the CPA remuneration is equal to the amount of the First Deposit of the attracted client, but cannot exceed $300.
- CPA remuneration is allowed to be withdrawn only after the attracted client completes the required turnover calculated by formula:
Required Turnover = CPA remuneration in USD * 20,000
Once the required turnover is completed, the amount of the CPA remuneration will be available for withdrawal.
The attracted client replenished the account for the first time in the amount of $100, in this case the CPA remuneration for this client will be $100. The partner will be able to withdraw this amount as soon as the client completes the required turnover of 100 * 20,000 = $2,000,000 (in MetaTrader it is about 8 lots of EURUSD).
- The current status of CPA remuneration for each attracted client can be found in the Personal Account in Your Referrals section.
- The company reserves the right to terminate the partnership relations with the partner at any time without explanation. But in this case the company still has obligations to pay remuneration to partner for already attracted clients.
Remuneration for referral trading turnover
- In addition to the CPA remuneration, the partner, starting from the very first deal of the attracted client, receives remuniration for his trading turnover.
- The partner's remuneration is paid once a week on the weekends, after trading session is closed. The amount of remuneration depends on the referrals' trading turnover, which is calculated on the deals made within the target week: Monday 00:00:01 - Friday 23:59:59 (server time).
- The trading turnover is calculated in USD, and includes every deal of position opening and position closing.
BUY 1 lot EURUSD (1 lot = 100,000 EUR) order opened at a price of 1.3452 and closed at 1.3542.
Trading volume in USDfor this order = (100 000 * 1.3452) + (100 000 * 1.3542) = 269 940 USD
- The higher the referrals' aggregate weekly trading turnover, the higher the rate for calculating the partner's remuneration:
Trading Turnover, USDRemuneration Rateup to 100,000,0005 USD per 1 million USD100,000,000 to 500,000,00010 USD per 1 million USDover 500,000,00015 USD per 1 million USD
- The current status of each Payout for the turnover can be found in the Personal Account in the Financial statements section.