Dear IBs and Brokers, here’s a good experience lesson: don’t pressure inexperienced clients into making large first deposits.
Could you let me explain why?
Understanding human nature and the Nigerian investment mindset is critical. Intelligent people, or Nigerians, typically approach investments with caution, preferring to start modestly to test the waters. This cautious attitude is natural and common in Nigeria’s investment environment.
Consider this: most Ponzi schemes in Nigeria do not fail after the first month. They normally develop trust throughout 3 to 6 months or even a year. The objective is to instill trust in the investment’s ability to generate returns, because people will continue to invest heavily once they see results, and they will even begin to recruit others to join them.
When it comes to making deposits, many inexperienced people prefer to start with the smallest minimum amounts. It allows them to see if the firm has the promised potential. As an IB, your duty goes beyond simply connecting clients; you must also ensure that they not only obtain great knowledge but also profit from their initial trial.
I’ve seen people who started with $5, $20, or $50 deposits become traders with deposits exceeding $10,000 or even $50,000. Even if I were to invest heavily in a new firm, I would not do it without sufficient knowledge.
So, I suggest avoiding pressing for huge initial contributions and resisting being forced to do so. Instead, encourage clients to begin small to gain trust in you and your platform. You’ll be amazed at how these clients can develop into significant contributors once they feel at ease and confident. Trust is the path to take; tread carefully.