The Best Forex Trading Affiliate Program
Did you know that you can make money on Forex not only by trading different financial assets? There is a thing known as Forex affiliate programs, and it has been gaining popularity recently due to almost unlimited revenues, total or partial automation of the process and quick results. Even despite the disadvantage of high competition in this niche, even beginners manage to get their lucrative commissions every month. In fact, with a properly built referral system, you can earn more than $ 1,000 per month (experienced partners can make tens of thousands of dollars).
How to choose the Best Forex affiliate program
The effectiveness of Forex affiliate programs depends largely on the choice of broker and the type of program itself. You must determine what kind of program is right for you. And it’s connected not only with your desire to make money, but also with the type of traffic you have, how the product adapts to your audience, how you’ve placed advertising materials, and other factors.
The first thing you should realize is that the “where they pay the most, that’s where I go” principle doesn’t work here. If you are promised mountains and wonders, it is at least a reason to suspect. The question of choosing a partner must be approached consciously, and for this, you must understand how the world of Forex affiliate programs works.
Currency brokers, like all other companies, need profits, that’s why they were created. The income of a typical Forex company consists of several commissions, which are charged to customers: the broker, when opening a trader’s transaction, immediately earns the spread: the difference between the price of buying and selling an asset (almost like in a bank). Obviously, the more clients a brokerage company has, the more it will earn on them. That’s why the affiliate program is a perfect solution to get more customers. You, as a partner, earn money too, making it a win-win situation.
Why Forex affiliate programs are so popular:
Decent payout: Forex retail is a serious industry with a big money turnover, and an affiliate program from a broker can monetize your traffic like no other;
passive income: even if you break your association with the company, the reward will come as long as your referrals are active;
multi-layered: serious multi-layered affiliate programs, the ability to develop an affiliate network by increasing the number of referrals and rewards;
no risk: you lose nothing if you suddenly realize that a Forex affiliate program is not for you (except for the money you invested in opening an office, creating your own website, etc., although the website can be sold or redirected).
No one says it will be easy: affiliate programs are highly competitive environments. Only professional market participants survive here. But this does not mean that the rest will fail.
So, let’s dig deeper into this by answering the most frequently asked questions to help you understand how Forex affiliate programs work and what you need to know before you start.
How big is the Forex affiliate commission?
How big is the Forex affiliate commission?
One of the most essential (maybe even the most) questions that arise while thinking about taking an affiliate program is “Is it really that profitable?And it is understandable since everyone comes to Forex for money, either investing or being an affiliate partner. First, you should know that there are several types of affiliate programs, which have different types of commissions and bonus offers. All these programs have their own benefits and advantages over another. You choose the plan according to how you will promote the broker, your level of participation in the trade, and the expected number of referred customers.
Basically, once you become a paxforex affiliate partner, the payment for bringing a new customer to the brokerage company can make up to $ 1000, depending on that customer’s deposit amount and the required volume of orders placed. There is also a variant of Forex affiliate programs such as the commission paid from the differential deducted for each client’s trade. Joining a hybrid affiliate program allows you to earn commissions when the customers you bring start referring friends, growing your Network in such a way.
How transparent is the affiliate process?
Given the wide spread popularity of Forex affiliate programs, more and more companies yearn to join this party and try to make their own versions of associations. As a result, it caused the immense number of websites offering affiliate programs, with just 50% of them being trusted.
Therefore, choosing the established company to deal with is the most vital aspect of starting your “referral business” since none of the promised commissions matter if you are not paid as agreed or your customers are being scammed. Before you start working with a broker, check the transparency of your transactions: make sure you have access to the control panel so you can track the transactions performed by your referrals and see all payments and commissions.
If there is no possibility to closely monitor your earnings, then the reliability of the broker should be questioned.
How easy is it to board new registrations?
As you will definitely agree, the process of creating an account is the first impression of the company. Go to the website and make sure the registration procedure is simple and understandable. In the event that a lot of information is required or other problems arise, it will be a serious problem for you if customers do not complete the registration. Therefore, no matter how good your marketing approach is, no matter how good you are explaining, everything will run out if the account opening takes 30 minutes. Check the website thoroughly and see if there are any issues that may be misleading or unclear. In case everything is understandable and crystal clear, go ahead to apply for a Forex affiliate program.
How good is the reputation of the Forex Broker?
One of the essential factors of choice for you is the fundamental reliability of the broker as a partner.
An important feature of the reliability of a Forex broker is the duration of his work in the market, financial indicators, the availability of reliable liquidity providers, the conditions of withdrawal and the storage of the client’s money. In particular, client funds must be kept in reliable banks separately from the company’s funds.
Another aspect of reliability is the reputation of a broker that is based primarily on feedback from actual users. Users ‘ ratings may be useful for assessment under this criterion, but they may not always give a complete picture. As we know, real customers of this or that company do not always write reviews on the Internet, and today, competitors can pay a lot of reviews to jeopardize the reputation of the company.
Of course, it is imperative to study the history of the creation and development of the company, carefully analyze contracts and documents; all this helps to avoid possible misunderstandings or problems of interaction in the future. Be sure to check out the list of countries the broker works with, so you can consider it while managing your campaigns. Anyway,
Will the forex broker help you with marketing?
Consequently, it is the marketing approach and marketing tools aimed at attracting merchants from all over the world. And probably you are a trader who decided to try their hands to be a partner, so you most likely do not know anything about marketing, and your knowledge about it is limited by the fact that it has something to do with advertising. Or, there is the possibility that you are a marketing guru, but imagine taking care of everything on your own, rather than paying attention to some other essential aspects. Of course, you can try, but in most cases, all attempts to do everything at once reduce effectiveness.
Fortunately, there are Forex brokers who feel it and do their best to provide the best and convenient partner experience as they need it as much as you need them. It’s key to a successful partnership. That’s why by becoming an affiliate partner, you gain access to comprehensive marketing tools, which include different templates for you to use in your business.
Marketing materials will be provided based on your partnership plan, which may be template emails, email banners or websites and social media headlines. Well, all you need to bring more and more customers to the broker’s website. Remember to take a thorough look at what is offered to you, see if the materials meet your expectations and the idea of marketing, and only then accept the conditions.
How will you track your ROI as a Forex affiliate?
The comprehensive and understandable partner control panel is as important as a trading platform for a trader. It is imperative for a partner to monitor the transparency of a broker and be aware of how their marketing is performing, as well as track their return on investment. Of course, you do not have access to a referral’s personal data, just the fact that a customer clicks a referral link and its specific action.
Affiliate statistics are usually recorded automatically, using special software (CRM, Customer Relationship Management) that works on the side of a currency broker or a separate resource that provides such a service. When choosing the broker to work, make sure you get access around the click to the control panel, which will give you a complete survey of Statistics. You will need to thoroughly verify the productivity of your marketing tools, as well as track ROI and statistics. It will help you know what’s working and what’s not, so you can alter your focus and improve regularly.
What kind of support is offered with Forex affiliate programs?
Another important component of a broker’s work, to which attention should be paid, is customer service. Since the Forex market operates 24 hours a day, ideally the broker you choose will have customer support available at any time. And is there support in several languages?
Check what ways to contact customer support are offered-email or chat. See if you can make a phone call and talk to a living person. Do representatives of brokers make an impression of competent employees? The way you are answered will show how your questions will be solved in a real situation.
Of course, in the course of trading (if you are managing accounts), you or your referrals may encounter technical problems. So try to present such critical situations in advance and model the questions and requirements you will address to the broker. You will be able to do this on a demo account. The broker’s website may have clear explanations, but before opening an account, you must make sure that the broker’s support team is functioning well and efficiently.
Be sure to check everything to avoid possible problems and misunderstandings.
Is it a top Forex trading platform?
Depending on the specific hardware and software, a particular operator may need an installed program or an online application. Choosing the optimal platform is crucial to the success of the trade. Or for a successful affiliate partner as you need to be confident about the product you are going to offer. So, before you jump with both feet, try everything yourself.
It is important to ensure that the trading platform is not prone to frequent or “hanging” accidents, especially during the release of globally important economic news or global events, when traders need a stable system.
The reliability of the platform is more important than its pleasant appearance and convenience.
An aggressive trader or a trader who often makes large trades needs a stable platform that never or rarely fails. But passive and conservative traders who do not follow market movements throughout the day can afford greater freedom to choose a platform.
In the case of foreign exchange transactions, convenience means that an order can be placed or closed instantly. One-click trading and the setting of Stop-Loss, limits and other types of orders are the parameters a trader may need.
In addition, the advantage is the easy navigation through the entire platform. If additional graphics and tools are offered within the platform, it should be easily accessed and used.
This is critical for an aggressive trader (intraday / scalp exchange), as their dependence on the platform is very high, much higher than that of a moderate or conservative trader.
In addition, the company must provide a broad spectrum of financial assets, not just Forex. There must be commodities, indices, stocks and cryptocurrencies. With that, you will be able to have better customer coverage and will be able to interest everyone regardless of their trading style and portfolio preferences.
Undoubtedly, choosing the best Forex affiliate programs is a very scrupulous thing, but it must be done with due diligence, as it will affect the entire raid. Just remember that the best affiliate program is the one that suits you best and provides you with a consistently high income. If you’re just starting out, don’t make the classic rookie mistake, don’t expect big, fast money.
Be sure to clarify exactly how the program you have chosen works. It can be a CPA plan that gives you rewards for customers who activate their accounts; or an income-sharing program when you get the margin percentage; or even a white label, which is a combination of the two mentioned above.
Pay attention to having reliable Forex brokers adjust all reward and commission plans according to their situation and performance, rather than fixed payments regardless of type, number of clients referred and volume traded. If you run into a runner with a one-size-fits-all program, then something is wrong there and it’s better to stay away.