Forex broker review sites are one of the favorite methods for forex affiliates to drive traffic to the offers they’re promoting and with good reason. They work. For most people looking to buy a product or service, the starting point will usually be a search on Google for “product name review.” Review and comparison sites are everywhere. Even the eCommerce giants like Amazon are review sites. We’ve all been on Amazon, and we’ve all read the reviews of products we’re interested in.
The simple fact of the matter is review sites work, and they work particularly well for reviewing forex brokers where multiple factors come into play.
Choosing a forex broker involves a whole range of issues to consider. Does the broker offer services to customers in your country? Do they have deposit and withdrawal options you can use? What are the account opening requirements?
As an forex affiliate, the number of options brokers offer works in your favor. The more information potential clients are searching for, the more contact points you can add to your forex affiliate reviews and drive more traffic to your pages.
Building an effective forex broker review calls for some relatively simple steps. It’s all about presenting all the relevant information in an easy to read and easy to follow layout. There is an expectation for the type of content, so a more factual tone tends to work best. After all, the end result is to convince people to sign up and fund a trading account with a broker.
Let’s look at the main ingredients for an effective forex broker review and how to structure your review pages for the best possible conversions and affiliate commissions.
How To Choose The Best Forex Broker
The easy mistake to make here is to choose the forex brokers you promote based entirely on the affiliate commission they offer. While the potential payout might be higher than other brokers, the conversions may well be much lower if the only thing going for the broker is the high affiliate commission.
Your potential signups won’t only be reading your reviews. They’ll probably be looking at multiple review sites and in all eventuality, some of the big forex discussion boards and forums as well.
The bad news about brokers travels very quickly. If a particular broker is being panned and there are numerous trader complaints online, then if your review is promoting this broker as a top pick, don’t expect to see any conversions.
The best approach here is honesty and transparency. Choose the brokers you promote based on their reputation and not solely for the affiliate commission. If you have an affiliate disclosure on your website (and you definitely should), your readers will already know you have a paid relationship with the brokers you review. There’s absolutely nothing wrong with that – nobody works for free after all!
The problems start to come if you are writing glowing reviews about brokers with terrible reputations or public complaints against them
Of course, the affiliate commission on offer is essential, but always keep in mind, your potential referrals already have an opinion about the brokers they are looking for more information about. If the brokers you review have bad reputations, your conversions will suffer.
Present and review the brokers with the best trading conditions, a good mix of platforms and assets to trade. Depending on your traffic sources, review brokers who match the geos. If your traffic comes from Australia, there’s no point reviewing brokers who don’t accept clients from there.
Do Your Research
All the information on the brokers you’re looking to review will be publically available. Go to the broker website, talk to their support. Sign up for a demo account and download their platforms. Look at the broker from the point of view of a potential client, NOT as an affiliate.
Go over their deposit and withdrawal options. Do they support clients from the regions you get your traffic from? Are they regulated in that particular region?
What assets do they offer? If your target audience is mainly interested in trading Bitcoin, for example, there’s really no point in reviewing brokers that don’t support cryptos.
Do they offer the most widely used trading platforms, or do they offer their own generic platform? MT4 and MT5 are the most popular trading platforms in the world and appeal to an extensive cross-section of traders. If the brokers you review don’t offer any of the MetaTrader platforms, you’re effectively cutting off a significant portion of your potential referrals.
Have a look at the regulator websites. If, for example, you’re looking at writing a review on a CySEC regulated broker, browse the CySEC website at https://www.cysec.gov.cy/en-GB/home/. Check for any regulator decisions or complaint cases against them. Like I said before, bad news travels fast, and anything negative about the brokers you’re reviewing will already be out there. Try to gloss over it, and your conversions will suffer.
It pays to research before you write any reviews. You can be sure the majority of your traffic will know the bad points already, so it is always best to be upfront and honest about these right from the get-go in any forex broker review you have on your website.
What Is Important For A Properly Structured Forex Broker Review
While the overall look and feel of a forex broker review can vary from site to site, there is an expectation as to what you need to present as a forex affiliate. This is primarily what your potential referrals will be interested in, so it’s always good to match their expectations in your review texts.
- Regulation details
- List of tradable asset types
- List of platforms
- Trading fees (spreads, commissions)
- Execution (Market Maker, STP, ECN)
- Account types
- Account opening requirements
- KYC requirements
The answers to the points in the list will make for a very informative review. One your traffic will enjoy reading and one which should result in a reasonable conversion rate.
Use these as the basis for your reviews and add more sections to improve and fine-tune your sites.
Screenshots And Videos
It’s always good to have visual material in your forex broker affiliate reviews. These break up long texts and add a visual reference to the discussion. Screenshots of things like trading platforms and, if possible, client backend areas are proven to add value to reviews and help in increasing conversions.
It’s always good to put a personal spin on your reviews. This removes some of the formal tones and makes for a more engaging read. The more you can engage with your traffic, the better your conversions will be. Putting a personal spin on the review has been shown to improve engagement. Nobody likes dry, robotic texts. Your job as an affiliate is to convince people to sign up with the broker you’re promoting, not show off how many technical terms you know.
Videos in forex affiliate reviews are an excellent addition. We’re not talking about remaking the Lord Of The Rings here. Even a simple screen recording of you logging into the broker-client area or using the platform will do. Make a PowerPoint presentation of the broker’s key features in question and export it as a video to use in your review. People expect to see a video, and it’s a simple expectation to fill.
Share Your Opinion
We’ve already touched on the fact that most of your potential referrals will have already done some research on the brokers beforehand. If there are bad points about a broker, they’ll know about these already.
Be honest about these. Of course, you have to highlight the positives and the benefits the brokers provide, but be honest about the negatives as well. Some people, for example, consider market maker brokers to be a negative feature. Others prefer to only trade with market makers. There’s no one size fits all approach here.
Present the facts about the brokers you’re promoting but add in your own opinion as well. If there’s something you like about a particular broker, don’t be afraid to say it. The same applies to anything you don’t like as well. As long as you can support what you’re saying, voice your opinion.
Always make sure to reach out to your affiliate manager here at Forex-Ads. We know what works and what doesn’t, and we know which brokers are getting the best conversions in the various geos. Don’t be afraid to ask. We all need to start somewhere!