What Is A Forex Affiliate Program And How Does It Work?
Forex affiliate programs offer a way to promote Forex brokers and earn an income from successful client referrals. For professionals and trading experts, it offers a powerful platform to boost income without the risk of investments.
These partnership programs present lucrative opportunities for those with a robust online presence seeking to earn some additional income through affiliate marketing. Affiliate marketing is basically a form of paid advertising, where brands pay affiliates commissions for bringing them new clients.
In this guide, we’ll break down exactly what Forex affiliate marketing programs are, how they work, and which ones to keep an eye out for if you’re considering joining the world of Forex affiliates.
Let’s get into it.
Forex Affiliate Programs Explained
Brokers use affiliate programs to attract new people to their platforms to generate them by using other businesses, people, and their audience. Forex affiliate marketing is a popular way for Forex trading companies to increase their customer base.
These referrers, or affiliates, are paid a commission for their services after successfully referring new clients to the broker, typically under an agreement of minimum spending. This is what is known as a Forex affiliate market and program
What Makes A Good Forex Affiliate Program?
Like with most things of this nature, the devil’s in the details, and it’s no different when it comes to affiliate marketing.
best forex affiliate program benefits both parties and incentivizes the Forex affiliate to spend time sending traffic to access the program.
Here are some of the specific details about Forex affiliate programs that can quickly separate the good from the bad:
Commission Model & Bonus Schemes
Some Forex platforms use a CPA model or cost-per-acquisition.
These pay a commission when a trader signs up through a affiliate, and the payout depends on factors like their country of origin and initial deposit. As you can see above, different regions offer varying commissions as per the Vantage platform.
The size of this commission is one factor in judging how good the affiliate marketing program is.
Others use a revenue-sharing scheme, which is where the affiliate receives a percentage of the trading volume and fees collected for each referral over a given time zone, some of these being lifetime offers.
Obviously, those paying a higher percentage over a longer period are more valuable to potential affiliates. The best forex affiliate programs make promotions and content creation as easy as possible for affiliates.
On top of this, some forex brokers offer bonus schemes to top-performing trading affiliates—for example, a fixed monthly bonus for signing up a certain amount of traders.
Reputation & Conversion Rate Of The Broker
Another crucial factor when deciding whether a forex exchange program is good is the forex broker being used and their conversation rate and reputation.
It’s all well and good sending a bunch of traffic over to a broker, but if their platform and brand don’t convert, you’ll struggle to make any significant income.
Minimal Restrictions
Restrictions on payment schedules can make an affiliate program particularly difficult to deal with.
The last thing a successful affiliate wants is to be capped on how often they can withdraw their funds, and reputable affiliate programs make this process as straightforward as possible.
Most of the time, forex trading affiliate programs make payouts monthly and may include a minimum threshold.
Reporting & Marketing Tools
The last thing to consider with forex broker affiliate programs is how transparent the reporting is, alongside the marketing tools on offer to support the affiliate.
Transparency with reporting builds trust and confidence in the other affiliate marketers and allows them to see where their efforts are best spent regarding conversions.
Marketing tools assist with increasing conversions, so they work hand in hand with reporting in the best forex affiliate programs.
How Forex Affiliates Work
Forex affiliates are people in financial markets or businesses who refer people passionate about Forex trading to Forex trading platforms for a commission. Basically, as an affiliate, you’re trying to find forex brokers or traders seeking a reliable platform.
This same paid advertising can be done in many ways; for example, some people may choose to run Google ads to a landing page that converts people into a Forex affiliate program, while others may use an existing email list or a blog post for their audience.
Forex affiliates will typically specialize in one method of promoting a Forex affiliate program to their audience in exchange for clicks through to the program and, ultimately, the Forex affiliate earnings and commission. The best forex affiliates already have an engaged audience interested in online trading, trading strategies and forex brokers.
When signing up to be an affiliate of one of the many forex broker affiliate programs, verification typically takes a few days.
Examples Of Forex Affiliate Programs
Here are a few examples of the best forex affiliate programs, along with links to a couple of key details about them:
Many Forex affiliate programs exist, but affiliates usually focus on one or two and test continuously to see which converts better.
Best Forex Affiliate Program
If you want to know which Forex affiliate program is best, you can read our rundown of the best picks here
XM Partners Affiliate Offer Page
We’re big fans of the XM affiliate program, which offers personal managers, no limits on total commissions, and much more.
Benefits Of Working With A Forex Affiliate Program
Working with a Forex affiliate program has many benefits; let’s explore some of the main ones.
Earning Potential
The most obvious business benefit of Forex affiliate programs is earning potential.
With most programs offering hundreds of dollars per conversion, with some even exceeding $1,000, it’s clear to see how much earning potential there is working with these types of programs.
As long as you have an audience to promote the offer to, there isn’t much of a limit on how much you can earn. This can be significantly improved with offers that include lifetime earnings per successful referral, as you’ll continue to earn commissions as long as they trade.
Flexibility
Another key benefit of Forex affiliate programs is flexibility.
As long as you’re sending clicks and, hopefully, conversions to the offer, website, there are no restrictions on where and when you need to work. You also don’t have to carry the risk of forex traders, but instead make your money through referrals
Testing
Assuming you work with a reputable Forex affiliate program partner, they will have many marketing materials you can use and test on your audience.
When you combine this with any in-house testing you’re doing yourself; it becomes straightforward to scale up and find an offer that works.
In summary, the forex market affiliate programs are excellent for boosting your income if you have the right audience.
It’s all about choosing the right broker to promote to the right audience; once you can manage that, you’ll have no problem making a profit.
Final Words
Forex affiliate programs present compelling opportunities for affiliates in the trading space. Whether you’re a content creator or a trading expert, there’s a chance for you to earn some extra cash through these robust affiliate marketing programs.
At The Affiliate Monkey, we’ve gathered all of the best programs to help you compare and review which ones work best for you. Reach out today for more information.
