Being an introducing broker (IB) in the United States is very much a belt-and-braces business, as all entities must be…
Being an introducing broker (IB) in the United States is very much a belt-and-braces business, as all entities must be registered with the National Futures Association (NFA) and maintain a minimum of $45,000 in minimum net capital.
Under strict observation by the authorities, with very comprehensive reporting requirements, being an IB is really the preserve of those with resources and good relationships with NFA regulated North American brokerages.
Those without the ability to maintain this criteria and measure up to the notably high expectations of America’s customers, have in many cases renounced their NFA membership and moved their client bases to other regions.
In Boca Raton, Florida, one particular IB has demonstrated that expansion is very much on the agenda, as Forest Park FX has grown its operations by hiring Trent Hoerr as the Firm’s Head of Sales.
The former Global Head of Operations at DirectFX, Mr. Hoerr has extensive Forex experience in both sales and operations and a track record of success in every industry position he has held. Prior to DirectFX, Hoerr served as ThinkForex’s Head of Institutional Sales.
Mr. Hoerr has substantial experience within the FX industry, having worked in Institutional Sales at ACG Management Sokutions in Chicago, which is part of Think Forex. In this capacity, he provided FX brokerage solutions to IBs and portfolio managers, as well as having headed the institutional business development operations for the Americas.
Prior to joining ACG Management Solutions, Mr. Hoerr was a Senior Trader and Analyst at proprietary trading house Archetype Trading in Chicago, where he spent two years, a tenure which was preceded by a year a Marquette Partners as a Trader and Analyst.
Justin D. Hertzberg, CEO of Forest Park FX today made a statement with regard to the appointment of Mr. Hoerr, stating:
“Forest Park FX has experienced tremendous growth since its launch in 2013. This is largely attributable to the high-touch service we provide to our clients – big and small – and our ability to deliver an FX brokerage solution that meets the individual needs of our clients.”
“Trent’s knowledge of the industry coupled with his tireless work ethic and reputation as a consummate professional make him a natural fit for our firm and a key acquisition as we build on our past success.”
On joining Forest Park FX, Mr. Hoerr said:
This is an exciting opportunity for me. Forest Park FX’s broker-agnostic approach and client-focused business model has always stood out from the other IBs with whom I’ve worked in the past
In his new position, Mr. Hoerr will spearhead Forest Park FX’s expanding product and service offering for retail FX traders and institutional partners.
“In my experience at the broker level, the sales offering can be quite limiting and you sometimes have to force a square peg into a round hole to make the sale. At Forest Park FX, however, we have the flexibility and freedom to deliver solutions that are custom-tailored to our clients’ trading needs” he concluded.#forest park fx, #IB, #introducing broker, #justin hertzberg