The growth of internet technology has expanded investment opportunities. Among these opportunities is forex, or foreign exchange. With forex, you bet on the future rate of exchange on currencies. In most cases, this does not seem plausible to an outsider, but believe it or not, forex is an industry worth approximately 5.1 trillion dollars and growing steadily.
Forex maybe some form of gambling, but currently one of the most competitive markets where some laugh all the way to the bank.
But betting on currencies is not the only way you can make extra cash from the industry. There is also affiliate marketing. Forex broker affiliate programs are cash cows, but only if you find the best among them.
We discuss some of the best forex broker affiliate programs to help you make a wise decision.
What is Forex Broker Affiliate Programs?
Forex affiliate programs are plans where forex brokers pay commission to direct traffic to their website and convince visitors to sign up. For example, a forex affiliate can pocket something like $20 for every sign-up of the forex broker’s services on offer.
The commission is mostly in percentage rates or a specific amount, which varies between different affiliate programs. Some will pay hundreds of dollars for successful referrals.
As opposed to online forex trading, the forex broker affiliate programs are sure bets. In other words, you are assured of earnings as long as you are successfully directing traffic to the broker websites and converting.
Online forex trading demands a lot of skills, knowledge, discipline, and patience to make a killing. Consistent success on the forex market is not always assured, but you can make a decent living out of it.
How Forex Broker Affiliate Programs work
Forex broker affiliate programs give rewards for referring other people to a particular online forex broking business. This is usually through links, marketing collateral, banners, and recommendations.
The forex broker referral link functions when a prospect clicks on the link or banner and proceeds to use the forex broker’s services. You are rewarded for making this happen.
Best Forex Broker Affiliate Programs
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Admiral Markets
The forex broker has been in the market for over two decades, so they have some good old experience. They have an industry-leading trading service and more than 3000 trading options.
Admiral Markets have both MT4 and MT5 accounts for some of the most improved trading experience. Simply, the forex brokers are not hard to sell, which is a good thing for an affiliate marketer.
Your visitor will need to deposit $100, but their cash is quite safe. The forex brokers are regulated by Cyprus Securities Exchange (CySEC), and they are as reliable as they come. They have numerous withdrawal options, including skrill, wire transfer, and MasterCard, which your visitors will love.
Other great features to sell on include the 0% commission. And to sweeten the deal, their affiliate commissions are as much as $600 for sign-ups.
2. FPM Global
The forex affiliate marketing network has various attractive offers for affiliates, and they are pretty generous as well.
FPM Global has been in operation since 1997 and has established itself as a force in the market. The brokers have several courses to sharpen the skills of your visitors and traders.
Other benefits include speedy withdrawals, fast support and a wide range of indices and products to trade in. They are not going to embarrass you in any way because they deliver—no empty promises to the visitors. FPM is stable, and you can earn good commissions, around $1200 per sale, for a long time.
3. In The Money Stocks
The PPT methodology used by In The Money Stocks is one of the most effective. It has been helping affiliates earn a decent living for over a decade, and therefore quite reliable.
Their proprietary trade alert software and prediction success rate that they claim is around 94% is among the features setting them apart. They are a household name and easy to sell, thanks to their numerous attractive characteristics.
Your average affiliate earning is around $21 per transaction, which is not entirely bad. But you also have the option to earn up to $200 per transaction.
4. Forex Trendy
allows scanning of up to 34 forex pairs. That means traders can immerse themselves in the trade, learn everything and make a decent living from forex trading.
The forex broker uses a sophisticated algorithm for trading pattern recognition and traders can then determine the best time to strike and make a decent profit. Their charts are updated frequently to aid trading.
This forex trading platform is easy to use and therefore has many selling points. More importantly, the platform has the safest profit, and this makes it quite popular. Even though it has some of the safest profit, traders, especially those starting, will need to take extra care and first understand the trends.
The commission is around $24 per sale. Well, the amount may seem low, but the broker is among the few with proven demand.
5. BlackBull Markets
The award-winning financial broker with over a decade in the market can be a great source of consistent income. The brokers are well-regulated and have an excellent reputation for reliability and business ethics. You can be sure your visitor’s deposits are safe.
The brokers offer various sellable services such as Islamic accounts and 24/6 support. Other features that are most helpful to you as an affiliate include a dedicated affiliate manager and multiple languages.
Well, a standard account with BlackBull Markets requires a minimum deposit of $200 and no other commission after that. It may seem quite steep, but they are a serious broker for serious traders.
They have a mouthwatering CPA of $600 when you encourage a new VIP sign up. Obviously, it isn’t easy to get another highly reliable forex broker affiliate program with such generosity.
Choosing Forex Broker Affiliate Programs
- Before becoming an affiliate for a particular broker, do your research. Ask around and read reviews if present. You see, many brokers have a reputation for using tricks to deny the affiliate marketer their deserved share. For example, they may find a way to hide the number of opened accounts or conversions. Brokers will lure you into their affiliate programs by promising high commissions or rebates. But what good will the high rebates be if you cannot get them? Don’t rush to sign up before you learn everything about the brokers.
- Occasionally test the broker using a different IP to open a live account. If it does not show up as a new client on your end, your broker is playing games with your hard-earned commissions. Plan your exit.
- You might also want to test the quality of the client account. What is the point of becoming an affiliate marketer for a forex broker that is more of a hard sell? How user-friendly is the account? What are the deposit and withdrawal options provided?
- Of course, the whole point of becoming an affiliate marketer is to make money. The program with the highest margin usually is the best, no doubt about that. Various affiliate compensation methods, such as rebates, are according to the volumes that a forex client makes. Cost per acquisition or CPA is based on client sign-ups or client deposits. You, as the affiliate, only earns the commission when the client signs up for a new account or deposits into it. There is also the cost per lead or CPL where you are compensated when your visitor provides their details on the broker’s website. Some brokers will also give CPL when a lead creates a demo account. Revenue sharing is among the most intriguing. Some affiliate programs will share in revenues from the clients, which also include the losses. You will also find a hybrid system where a particular program combines several of the compensation methods.
Conclusion
Introducing broker (IB) as a form of marketing has been around for quite some time. With the evolution of internet technology, the mostly institutionalized marketing method is now accessible to most people looking to make extra dollars. You don’t need a sales staff and a brick-and-mortar office.
As an internet forex affiliate, you earn reasonable amounts through rebates, cost per lead, and cost per acquisition, among others. The online forex market is currently worth trillions. What prevents you from getting a share of the pie?
FAQ
You can become rich through forex trading if you develop currency trading skills. A hedge fund with deep pockets and skills will not have a hard time navigating the forex markets. As an average retail trader, or someone learning the ropes, the road can be pretty rocky. You need the skills, patience and discipline to hack forex trading.
Forex trading is not similar to trading in bonds and stocks. The investment strategy you use is a bit risky, and it is what determines your success. Some people use prudent trading strategies to minimize their risk and make profits. Can forex trading make you rich?
Is forex trading a safe investment?
