Foreign Exchange trading which is now known as Forex Trading. Forex trading is the biggest digital industry that is running and fast growing in recent times. The community of this industry is growing exponentially.
The reason is financial independence. No matter what you say or believe, in the end, what matters is what you earn. And in these crucial times, when the world’s economy is falling and there is political turmoil in various countries, the liquid currency holders are stressed.
While the people who are doing forex trading are sitting in their living rooms and enjoying their lives. Forex Trading is not under the control of any bank, not even a state bank. It is a decentralized one.
People who are multiple currency holders is exchanging their money at international forums with other people and earn passively.
Though passive means of income always remain in question. People don’t trust them but still, they have more support and trust than the traditional earning ways. When everything is already digitalized, it’s better to accept reality and go with the flow for your good.
Along with that affiliate marketing is also getting lots of cheers from the people. Affiliate marketing is also a reflexive source of revenue. This market is still in the growing stage and within a few years, more than 30% of people are registered as an affiliate.
What if we combine the Forex trading industry with affiliate marketing? Surely, there’ be a blast of economic growth and stability. People are registering themselves in the Forex broker affiliate program.
And the demand for forex affiliates is rising with each passing day.
What is the Forex broker Affiliate program?
Let’s start with what is the Forex affiliate program. In forex affiliate programs, the affiliate does not trade the currencies for himself or by himself. Rather he’s in the field to promote the forex platform of some company or brand.
If he’s a blogger or content writer, he uses his platform for commercializing the brand’s software. When his content hits the right audience, and people register themselves with the forex platform using the link of the affiliate, the affiliate gets a commission per registration.
The affiliate can register for various posts and multiple people as an affiliate in the forex affiliate program e.g., as a forex broker affiliate program. There are certain pros and cons as well if you register for forex affiliate programs.
Let’s discuss them one by one.
Pros
- The affiliate does not need to trade as an affiliate.
- The affiliate needs to submit a very low amount as a registration fee to earn passively.
- The affiliate can use multiple platforms to promote the company, software, or brand. He can write SEO-based articles, make videos/photos, write blogs, or can use his links or social media accounts for promotion.
Cons
- You need to be very innovative and put some extra effort to promote the content as the competition is way too much high.
- If you are low on budget and choose a platform that is not popular, you suffer a lot as an affiliate.
- You are not the owner of the product you are promoting. So, you must follow a long list of rules designed by the merchant to follow.
- You cannot add anything of your choice while promoting the content. Everything is approved by the merchant first and then goes live
- It’s difficult to maintain the customer size each time.
- Frauds and cybercrime rates are very high in this field. It’s no work for a professional fraudster to hack your link and then he can withdraw your all commission and profit in no time.
There are three main types of forex broker affiliate programs.
- Introducer programs
- CPA programs
- Partner programs
Introducer programs – This is a high-level and advanced forex broker program. In introducer programs, the affiliate must directly contact the people by either schooling them or arranging webinars or having meetings in the offices.
In such programs, usually plans related to custom compensation are made.
CPA programs – Click-per-acquisition programs are one-time commission-paid programs. They are simple and affiliates just need to get traffic on the broker’s software via referrals.
Usually, the demand is to ask referrals to signup with the software or to install it on their smartphones.
Partner programs – They are basic and simple programs where the affiliate gets the commission per referral. The more the referrals connect with the broker, the more the commission is added to the affiliate’s account.
Partner programs are also known as traditional affiliate marketing programs.
What factors should keep in mind before registering with a forex broker affiliate program?
Registering with the right forex broker affiliate program decides your future. Your success in affiliate marketing, your financial status, and your mental health all depend on choosing the right forex broker affiliate programs.
So, make your decision wisely. The factors which can be considered while deciding are following
- Transparency
- An extensive system of tracking things
- Backup support
Transparency
The broker and the affiliate network with which you are going to work should be trustworthy. It should have a transparent record. You are going to be part of the firm and you are going to promote their products, the referral trusts you.
So, make sure, the firm is the one you can trust. It should have positive reviews and a satisfactory work environment.
An extensive system of tracking things
As this market works on the performance of affiliates. Make sure that the network itself has good performance.
In performance-based programs, everything on your end is counted. You should also count that network has a good system of tracking the referrals. It reports your referrals and conversations properly and sends you payments on time as well.
Backup support
Always go for the forex broker affiliate program which is ready to solve your issues firsthand. Whenever you are stuck at any point, it’s there to look after you. The networks which don’t give support destruct the repute of affiliates.