If you are in the forex industry, you are probably aware that many forex brokerage firms and brokers offer affiliate programs that reward you for their website’s traffic. These forex brokers pay the affiliate for any client who deposits his money and starts forex trading that they refer to the forex brokerage firm or company.
The use of affiliate marketing is a vital strategy employed by these forex brokers and companies to get a wider audience, acquire new clients, and increase the forex brokerage firm’s sales. For these reasons, forex brokers have a strong desire to gain new affiliate partners to land more new clients.
Best Brokers with High Paying Forex Affiliate Programs
- XM Group >> CPA up to $650, Revenue Share Affiliate Commission up to $25/lot
- Pepperstone >> Revenue Share up to 55%, CPA Affiliate Commission up to $800
- Instaforex >> Revenue Share Affiliate Commission up to $25/lot
- IQ Option >> RevShare Affiliate Commission up to 50% of Spread
In these modern times, it isn’t easy to look into the affiliate program that you’ve you’ve signed up for. Worse, with the high profits that are generated by the forex affiliate business, there are many shady schemes where these ”great deals” may become your worst nightmare.
Below, we will discuss the vital factors that you should consider when selecting the best forex affiliate program for you. It will significantly assist you in properly analyzing the different forex affiliate deals offered by the forex brokers and helping you make informed decisions.
1. The Size of Your Commission
Money is often the motivating factor for many people seeking to join these forex affiliate programs. When choosing the forex affiliate program suitable for you, ask yourself if the forex affiliate program you desire to join will allow you to make decent money. Different forex affiliate programs have other payment structures and commission types.
With the right deal and working for a decent forex broker or company, for every new client that you refer to the company, you can expect to make a commission of up to $600. However, the commission is dependent on factors like how many trades the client makes or the amount that the new client deposits. Reputable forex affiliate programs will offer you the choice to get ongoing commissions. You obtain these ongoing commissions based on how much the new clients on your referral list trade going forward. You may also earn commissions if the people on your referral list refer to new clients in turn.
2. The Transparency of the Affiliate Program
There has been a crowded market thanks to the ongoing success of the forex affiliate programs. As a result, many brokers and sites are resulting in creating their forex brokerage firms. Unfortunately, a number of these brokers and sites are untrustworthy than you may hope.
To be on the safe side, ensure that the forex affiliate program you enroll in is very transparent so that they calculate payments, are accountable for, and report every trade. Ensure that the firm or broker you have partnered, which shows you how they calculate your commission. Besides, you should keep track of all your earnings.
3. The Ease of Onboarding New Signups
Any flaws in the sign-up or onboarding process create a ton of work for you. Besides, these flaws can play a significant role in your affiliate business’s failure if your recruits keep giving up before they complete the sign-up process. You should explore the customer interface and the firm’s brokerage system and check out their functionality before considering partnering with them.
4. The Forex Broker’s Reputation
There is nothing more important in the forex affiliate programs than partnering with a good forex broker. The broker, firm, or company you partner with should be fully regulated and well respected, and compliant with the existing laws and regulations. Despite it being challenging to look at a website and know a reputable forex broker, several indicators can help you figure out a good and reputable forex broker.
One indicator that you should check is their approval by regulatory bodies. Another signal is to find their registration and contact information easily that you can use to contact them and ask them questions. Do they have any industry awards?
Another key indicator is if the forex brokerage firm or company has offices in other countries. It goes a long way in helping you know how established your prospect firm or company is. Their presence in other countries signifies that they understand and follow laws specific to countries in different regions.
5. The Marketing Help Offered by the Forex Broker
Your success as a forex affiliate mainly relies on the number of referrals under you. Landing prospects to fall under your referral list is a daunting task, and if you do not possess quality marketing skills, this will ultimately lead to your failure in the business.
Reputable forex brokerage firms are significant to partner with. Many of them help their affiliate partners market their businesses by giving you many marketing materials to get more people on your referral list.
Always make sure that you check out their marketing offers that they give their affiliate partners. It will help you make a more informed decision and determine the best partnership for you as an affiliate.
6. Ways to Keep Track of your Return on Investment
Before choosing an affiliate program, you should also check its features that allow you to keep track of your forex affiliate program performance, your affiliate’s return on investment, and the sign-ups quality you are recruiting to the firm.
It would be best if you aimed to partner with a firm or company that offers you access to the affiliates’ dashboard. It should give you a detailed report, analytics, and statistics. The information that you get will help you analyze in depth your marketing techniques’ effectiveness, calculate and compare your return on investment.
7. Kind of Support Offered by the Forex Brokerage Firm or Company
There is a chance something might go wrong or your sign-ups, or you will have questions that require urgent answers. The broker that you partner with should ensure that there is an easy way to contact them when the need arises.
Always ensure that the brokerage firm you partner with offers help in a language understood by both you and your referrals.