The forex industry is one of the largest and most lucrative niches for affiliate marketers. With an industry that relies heavily on internet marketing, brokers mention that many of their forex affiliates earn $10,000 per month and top affiliates earning over $50,000 per month.
Forex affiliates programs offer various commission and payout options, some that last for the lead’s ‘lifetime’ with the broker. You will receive a commission every time the client trades.
What is forex, and how do brokers make money on it?
The foreign exchange market is the largest financial market in the world. While the daily volume of every stock market worldwide is $85 million, the daily volume of the FX market is almost $5 trillion.
Traders monetize by speculating on currencies and taking advantage of price fluctuations in exchange rates. Currencies are traded in pairs so that their value is contingent on one another. Determining this price is critical. Participants can speculate on, buy, sell or exchange currencies
Traders can access the forex exchange market through an intermediary, which is the forex broker. The broker makes money on all trades executed traders, whether they lose or gain.
Forex affiliate V.S IBs (Introducing Brokers)
You might get confused when looking at forex affiliate programs. Often brokers will offer a similar yet still different structure – Introducing brokers and affiliates.
Affiliates refer traders to the broker, and often this process is automated. Once the broker receives the lead, the affiliate has no further obligation to participate. Most affiliates will
An Introducing Broker will provide services to the client that they refer. While both affiliates and IBs work on a partnership basis with the broker, they are very different in nature.
IBs will stay in touch in touch with the client and offer services such as training and support. They will build personal relationships with the clients and gain their trust.
An Introducing Broker is usually a trader themselves who will share their expertise. Many IBs are individuals, but there are also larger corporations that act as Introducing Brokers too. Choosing whether you want to be an affiliate or an Introducing Broker solely depends on your end objective, goals, and expertise.
How to get started
Once you’ve set your objectives, it’s time to begin working on your website and lead generation. Consistency is just part of the process – you need to ensure that your website contains plenty of original quality content.
Most people focus heavily on their site’s layout, and design which is, of course very important, but catching the interest of forex traders lies in the content you offer them. If your niche is cryptocurrencies, it’s a good idea to include plenty of subcategories and tags for various crypto coins. Your content should answer questions of brokers – for example, “Why did the price of Bitcoin surge in 2020?”. You will be doing your SEO a favor if you incorporate trending topics into your content. Educational resources, guides, and ‘How-To’s are all extremely useful for beginner traders. Everything you publish must be current and up-to-date.
Place your referral links and buttons strategically to ensure higher conversion rates. This means your ads should not clutter your website but be inconspicuous. You can add referral links to your text or even write reviews about your affiliate forex broker. Be fair, be honest so that people trust your opinion.
Trial and error
As an affiliate marketer, you should think outside the box. Partner with reputable forex brokers and incorporate various affiliate programs into your strategy. Don’t merely stick to PPC (Pay Per Click) because it’s easier – revenue sharing payouts can be much more profitable in the long run, even if it may take longer to launch. Experiment with new marketing tactics, evaluate your campaign performance, and see which works best. Once you see which strategies bring you better return, your job as an affiliate will be much more simple.