It is possible with forex affiliate programs to make money in the form of commission on a recommendation or referral that results in the purchase or use of the service on the website or a platform. These types of cooperation are very popular, as they are quite profitable.
Making money through referral programs means that all the parties are satisfied with the outcome, including you, the broker, and the customer. In this article, you will learn about the types of Forex affiliate marketing, and what kinds of partnerships exist. You will get an insight that should help you select reliable and profitable affiliate programs.
What kind of Forex affiliate programs exists?
Overall, there are 3 ways to establish a relationship with a broker. You can pose as an affiliate, a referrer, or by means of white labeling a trading platform.
Forex affiliate programs
This approach works best for those who already have an established online presence on a website or/and social media that concerns trading. It can be either a YouTube channel, blog, trading news website, or other.
You have to be a professional specializing in creating high-quality content for an established audience and now are looking to monetize it. This type of affiliation is meant to generate passive income.
The majority of people who participate in affiliate marketing have tested other referral or affiliate programs and are constantly looking for provider partnerships with whom they will achieve higher revenue. They also want to be confident in the platform they are promoting, as their business implies giving reliable and sound advice.
These types of programs imply introducing new traders to a trading platform. You acquire commissions, and their size depends on how profitable these new leads are for the company.
As a rule, referral partners are entrepreneurs, agents, or corporate introducers. Often they have also experienced traders who have a good understanding of trading as it is and have already made some money with trading and either as a side income or full-time trading.
Very often, traders who decide to work with referral programs have already established a niche for themselves by designing content about trading. As an example, they might be managing a popular blog or a successful YouTube channel that makes them an influencer. It becomes possible for them to establish connections with potential customers and convince them to start trading. The majority of Forex brokers who engage with referral partners supply them with useful information and trading tools. In this case, you should not worry about creating new content but focus on your expertise and involve as many new referrals as possible.
White label partnership
This type of partnership is the most suitable for such financial institutions as banks and investment companies who would like to expand their product portfolio. The point is that they can provide day trading services without having their own platform.
What is important while looking for a Forex affiliate program?
Look for a program that will yield the best results possible. Choose the most suitable partnership program. Make sure that the commission offered is competitive. Also, it is important to find out if the broker you work with provides help and whether it is easy to onboard people.
It is important that the broker should provide you high-quality marketing materials such as email templates, banners, social media covers, widgets, and other materials that you can use without extra effort. Inquire if there is support in your native tongue and round-the-clock access to the portal. All mentioned above is important if you would like to see a fast ROI.
Choosing the right platform
You should aim at working with a platform that you would consider working with yourself. It doesn’t really matter how large the commission is if no one wants to sign up. Check if the broker is fully regulated and what kind of trading options they offer, such as CFDs, cryptocurrencies, shares, etc. If a broker doesn’t meet the above-mentioned criteria, you probably should avoid working with them and spare your reputation.
You can create value for the customers while increasing your income if you work as a Forex affiliate. Invest more time choosing the right partnership, and you will soon see the results from your audience. If you are ready to join an affiliate program, ForexAds will provide you with top regulated brokers you can partner with.