Skype

Excluding the monthly lease obligation for an office, the second largest expense will be the monthly telephone service. Depending on how many broker you have, for domestic IBs, most telecom companies, such as Verizon or AT&T, offer unlimited calling plans for the US and Canada. However, this is typically limited to no more than eight lines. Verizon had offered the “Freedom Plan” several years ago. They may offer something similar considering the stiff competition from Voice over Internet Protocol (VOIP) companies, such as Vonage or Skype. In fact, many of the “Bells” are starting to offer VOIP because the market is changing.

IB Portal is an avid fan of Skype. If you’re looking to save costs, then Skype is the first place to begin. Skype offers several features – Instant Messaging, Video Conferencing, file transfer, Voicemail, Skype Mobile phones and “Business Control Panel”, which allows businesses to set up multiple users or a directory, including call forwarding and conferencing.

First, Skype is a free service! You can download Skype for free and call other Skype account holders for FREE, anywhere in the world. Of course, not everyone has a Skype account, so it is not free for calls to landlines or cell phones. Skype allows you to buy your own phone number. The cost is roughly $18 for three months or $60 for the year. If you purchase a “subscription”, which is an unlimited calling plan, you receive a 50% discount for an online number. Skype has three Unlimited Plans, $2.95/mo. for unlimited calls* (landlines & cell phones) to the US and Canada, $5.95/mo. for unlimited landline calls to Mexico and $9.95/mo. for unlimited landline calls in 34 countries. *10,000 maximum minutes.

The other option is “Pay as you go”, adding Skype “credit” or minutes every month. The cost per minute varies depending on which country you’re calling. The rates are very reasonable, which can be found on their website.

How does it work? Skype has a variety of options. Most Skype users will use a headset that is plugged into your computer (USB or Microphone). You can purchase headsets for as low as $14.99. Alternatively, you can purchase regular corded phones, webcams or WI-FI phones. In addition, Skype Credit works on Windows, Mac OS X, Linux, Windows Mobile, WiFi phones, Cordless phones, Nokia Internet Tablet.

Skype (VOIP) is certainly the future. Skype does a much better job at selling their products than IB Portal. Whether you’re an individual Introducing Broker or 100 man operation, Skype can potentially save you tens of thousands of dollars. Together with the numerous benefits and advanced technology provided, Skype can play a major role in communicating with your clients, specifically those who are Skype account holders. IB Portal is not a reseller for Skype, but we feel Skype offers many advantages and IBs will enjoy significant savings coupled with expediency. For additional information, access the following link, Skype.

Click here to get your unique SkypeIn number

Buy Skype hardware now

Virtual Office (VO)

As one would expect, Introducing Brokers or any new business owner for that matter might not be able to afford their own office in the initial stages of their commencement. Therefore, many IBs and business owners will elect the option of a virtual office. Virtual offices are very useful for new businesses. For the most part, a virtual office will provide the business owner several important services, 1) business address (incoming mail & couriers), fax & dedicated phone number, answering service and access to the meeting and conference facilities.

Typically, IBs who set up a virtual office are operating as individuals or single proprietors of their registered company. The benefits and reasoning behind a virtual office is IBs are trying to accomplish several objectives for their business.

1) Prefer a low cost alternative to leasing a traditional office;

2) Create an image using a business address within an expensive or prominent area;

3) Seeking to establish a global or national presence in the VO provider’s country or city.

4) Money Managers or Commodity Trading Advisors (CTA) who manage client funds will need support from VO’s receptionists, such as answering their business line and accepting incoming mail or facsimiles. Many operators of VO can forward incoming calls to the owner’s primary phone number. Alternatively, if instructed by the owner, receptionists will inform the owner via email of any phone calls during business hours (messages) and any delivered mail for the day.

Logically, many virtual office providers are located in major cities (i.e. New York, London, Hong Kong) due to high popularity of its prestigious business address.  The cost for a virtual office will range anywhere from $50 to $300 per month, depending on location and services. We have included a few VO providers below, including their location.

New York

http://www.manhattanvirtualoffice.com/

http://www.manhattan-office.com/

http://www.officesuitegroup.com/offices/

http://www.bevmaxoffice.com/

http://www.primeofficecenters.com/virtualoffice.htm

http://www.yourcityoffice.com/package_new_york.php

http://www.onetenwall.com/

http://www.onebox.com

London

http://www.onebox.com

http://www.yourcityoffice.com/

http://www.voffice.com/

http://www.flexyoffice.com/

http://www.westbury.co.uk/virtual_office/thisisyouroffice/<

http://www.virtual-offices.org.uk/

http://www.eoffice.net

Hong Kong

http://www.executivecentre.com/serviced_offices_en/virtual_office_hong_kong.php

http://www.onebox.com

http://virgobc.reachlocal.net/VirtualOfficenew.aspx

http://www.regus.com/

http://www.abcn.com/executive-suites-HK/

http://www.yourcityoffice.com/package-hong-kong.php

http://www.cmshk.com/

Many of the above VO providers offer multiple locations around the world. If you are unable to find your preferred City, simply Google “Virtual Office” and “City” and you will find a VO provider in your area. This industry is rapidly growing, already generating $12 billion for the proprietors of virtual offices.  

Important Message: IB Portal does not advocate or condone any type of fraudulent activity. Unfortunately, in general, many business owners have created the illusion to their clients that their operation occupies the entire floor or who knows, the entire building, of a virtual office. IB Portal was created to help facilitate the growth of new and existing Introducing Brokers and Money Managers in the Forex market, not to provide them a step by step process on how defraud the investing public. Your first and only concern should be your clients. This site is not for scammers or fraudsters. IB Portal is designed for ethical individuals who want to learn how to succeed as Introducing Broker or Money Manager in the Forex market. Anything beyond that, this business is not for you!

Marketing & Advertising

IB Insider provides specific information on the sales and marketing approach that other successful Introducing Brokers utilize. Cold calling is not the only way to generate business. There are many approaches and techniques employed by IBs. What is very important for you to understand is the type of person you are will reflect your sales approach. If you’re aggressive and confident, phone sales might be your niche. If you’re more conservative you might want to consider seminars or workshops, “Broadcast” advertising. Be true to yourself. As long as you have the passion, motivation and work ethic, you can apply any marketing or advertising strategy and be successful. Regardless of the direction, it is imperative you formulate a thorough business and marketing plan.