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How To Become A Forex Affiliate in 5 Steps

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How To Become A Forex Affiliate in 5 Steps
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How To Become A Forex Affiliate in 5 Steps

Vantage Updated Updated Wed, 19 October 2022 07:35
How To Become A Forex Affiliate in 5 Steps
Forex affiliate marketing

A Forex affiliate program uses third-party marketers to promote the services of a particular broker. Under this program, your broker rewards you for independently promoting their products and services to a new audience [1].  

As new users sign up to the broker’s platform, deposit funds and begin to trade using your referral link, you gain a financial incentive.  

Forex affiliate programs come in different forms, depending on your objectives as a participant. No two Forex affiliate programs are identical. Make sure you pick a program that fits your unique style of marketing. Also, consider that it may be a full-time or part-time venture, so select a program that also meets your business objectives.  

What is Forex Affiliate 

A forex affiliate is someone that partners with forex brokers to promote their trading platform and services to their audience. The goal of the affiliate is to generate referrals and potential clients for the partnered broker and affiliate would be able to earn a commission through commission structures offered by brokers.  

The most common methods include cost-per-action (CPA), cost-per-lead (CPL), and revenue-sharing models which will be explained further in this article. Through each successful referral, affiliate will be able to earn a commission.  

Curious on how much a forex affiliate can earn? Read more here

How To Become a Forex Affiliate in 5 Steps  

Suppose you’re a social media influencer with a massive following and would like to join a Forex affiliate program. Here are five steps to get started:  

1. Research on the Forex Affiliate Programs Offered  

With hundreds of forex affiliate programs available from dozens of brokers, how do you pick one that’s best for you? That’s what research is for. Find and select the best affiliate program available for you and your audience [2].  

But what criteria should you use? To find out, ask yourself these four questions:  

a. Is this forex affiliate program suitable for me?  

It goes without saying that a good partnership program should reward you for your efforts. The easiest way to find out is to look at a broker’s commission structure. Is the program transparent? Do you have all the information you need to be successful at every turn?  

An excellent example of this is to look for any restrictions, especially when withdrawing your income. Does the broker require a minimum balance before you can access your commissions? If so, how much? Make your decisions considering such restrictions. In most cases, the fewer the conditions, the better the program.  

b. Is this forex affiliate program suitable for my audience?  

It won’t matter how good the commission structure or value you will get from an affiliate program if your audience doesn’t sign up for the platform. So first, consider: Is this platform good for my referees? Will they have a pleasant experience using it? Does it have access to multiple financial instruments? Is the broker regulated?  

Ideally, you want a platform that has fast execution speeds, multiple instruments (including CFDs, Forex, Indices, Cryptocurrencies and Commodities), has an intuitive platform and is accessible on multiple devices. Your broker should also comply with regulations across various jurisdictions, especially if your audience is global.  

c. Does this forex affiliate program offer sufficient support?  

You’ll need plenty of marketing materials to get to different segments of your customers. Most high-quality providers will give you access to plenty of marketing materials. You’ll get banners, widgets, social media covers and email templates that can get you started immediately.  

Should you face any challenges, can you contact your partner broker’s support 24/5 for help? All these prerequisites must be available on demand for your affiliate marketing strategies to work. 

d. Does this partner offer the latest platforms and apps?  

A good partner broker always keeps their platforms and apps up to date. Your referrals will get the best experience from the latest trading platforms, especially with fast trade executions and seamless trading experiences.  

Modern platforms help your users do better research and use technical indicators and charting tools that give them better trading accuracy. Also, be sure to pick Forex programs from brokers that support MetaTrader 4 and MetaTrader 5, both of which are industry standard trading software.   

2. Join the Forex Affiliate Program From the Chosen Forex Broker  

Once you find a broker that aligns best with your requirements, sign up for their affiliate program. That may include opening a live trading account in some cases or a simple partner account in others [3]

3. Pick a Marketing Platform  

Where is your audience? That’s the place to take all your affiliate marketing tasks. Let’s look at several places you can target:  

a. YouTube and Video  

If you have a budding channel on YouTube, you can target your viewers by reviewing your partner broker’s services. Explore their platform and walk your viewers through the process of setting up an account, funding it and executing basic trades.   

You may also run webinars on Zoom, Google Meet and Cisco WebEx and interact with live viewers. You may share your referral link in the live chat, description box below your video or as an embedded link.   

b. Email  

Most brokers will provide email templates with affiliate links readers can click. You may use these templates to send accurate, transparent, legally compliant emails to your email list.   

c. Blog/Website  

If you have a high-traffic blog, you can embed banners, widgets, and affiliate links across your content as you review your partner broker’s platform and services.  

d. Social Media  

If your followers are on TikTok, Snapchat, Instagram, Facebook, Twitter, Discord or Reddit, you can use banners and social media covers in your media to promote your partner broker. You can also create threads, posts, tweets and video snippets discussing several ways to join, fund and trade on the broker’s platform. 

4. Create Compelling Content To Promote the Forex Broker  

As stated above, you may create different types of content to appeal to different customer segments across your platforms. You may use blogs, videos, images, carousels, GIFs and other interactive media to appeal to your customers and get them to join your partner broker.   

As you create your content, remember two things:  

  • Keep your content upbeat and enthusiastic, but always be honest, transparent, and accurate.  

  • Follow the community guidelines of all social media platforms and comply with regional data protection laws like the GDPR, CCPA and HIPAA.   

5. Start Collecting Your Forex Affiliate Commissions  

Once your affiliate marketing campaigns begin, sit back and watch the commissions roll in. You may track your performance from your partner’s platform, see how many referrals you’ve brought in and how much you make as commissions as they deposit and trade.   

As you monitor your performance, you may optimise your marketing strategy, try out new ideas and remove those that don’t work.  

What is a successful referral for Forex Affiliates?

So,  

What does a successful referral look like?   

The end goal of a Forex affiliate program is to get new users to sign up and create accounts on your broker’s platform using a unique referral link. Your referral link is often a short line of code attached to your Forex broker’s domain name. It may be something like:  

“https://www.vantagemarkets.com/landing.php?id=81”  

To qualify as a successful referral, the new user must use your link, open an account, fund it and make at least one trade. That’s not the only metric that matters. There’s more nuance involved. More on that below.  

Key Terms to Remember when becoming a Forex Affiliate 

Here are some terms you’ll run into in these spaces:  

  • Rebates  

Rebates are ongoing commissions based on trading volumes. You receive commissions on every trade your referral makes for their lifetime on the platform. That’s usually a few pips per standard lot, a fixed amount per traded lot, or a percentage spread [4].  

CPA stands for Cost Per Acquisition or Cost Per Action, depending on the broker. Pay close attention to how your brokers use the term “action” in a Forex affiliate CPA program. This ‘action’ will get you varying commission structures but usually depends on your referral making a particular deposit amount besides simply opening an account.  

  • CPL  

Cost Per Lead. Some referral programs pay for referring potential users who then provide their contact details or sign up for a free demo account, even if they don’t open a live account or make any deposits. As you can imagine, Forex CPLs are far less valuable and, therefore, far less rewarding than Forex CPAs [5]. 

  • Sub-affiliate / multi-tier commission  

A multi-tier commission is what you get for referrals who refer others to your partner broker. You can use this method to supplement your income if your broker has a reliable system. However, it can become tough to track, so most brokers won’t offer it.  

Key Takeaways for becoming a forex affiliate 

In summary, becoming a forex affiliate involves partnering up with forex brokers to promote their services and trading platform. All it takes is just five steps to get started and begin your role as a forex affiliate.  

As a forex affiliate, your main goal is to refer new clients who will sign up, create accounts, fund their accounts, and engage in trading. To understand the commission structures of the forex affiliate program, it’s important to familiarise yourself with terms like rebates, CPA, CPL, and sub-affiliate commissions before deciding which affiliate program to join. 

Vantage Affiliate Program 

Vantage is an award-winning multi-asset broker and has received numerous prestigious awards in recognition as one of the best in the financial markets. As a leading multi-asset trading broker, your clients will be protected as Vantage upholds the highest regulatory and compliance standards. 

The Vantage CPA Affiliate Program is designed to be one of the industry’s most competitive and flexible programs. It offers a highly competitive commission and payout structure and transparent and real-time performance reporting, and we also provide high-quality marketing material.  

Vantage offers several programs:  

Under the CPA program, you can earn a highly competitive commission for every qualified client you refer to us, and it is ideal if you rely primarily on click tracking. For example, if you have a blog or a website, are a social media influencer and more. 

Joining the Vantage CPA program is easy and free. Signing up to become an Affiliate or IB is also fast and efficient. We will also provide a selection of advertising material for you to present through your strong online or offline presence. 

If you are still unsure which program suits you the best, you can contact us at [email protected] and a dedicated Account Manager will contact you. 

You can find complete information about the Vantage CPA Program here

References

  1. “What is ‘Forex Affiliate’ and How to Become – LinkedIn” https://www.linkedin.com/pulse/what-forex-affiliate-how-become-dimitris-stylianou?trk=public_profile_article_view Accessed 12 Oct 2022

  1. “Forex Affiliate Networks – Business of Apps” https://www.businessofapps.com/affiliate/forex/ Accessed 13 Oct 2022

  1. “How Forex Affiliate Programs Work (and How They Can Benefit You) – Admiral Markets” https://admiralmarkets.com/education/articles/marketing-affiliate-programs/how-forex-affiliate-programs-work Accessed 13 Oct 2022

  1. “Forex Affiliate Programs: How to Choose The Best One – Voluum” https://voluum.com/blog/forex-affiliate-programs/ Accessed 12 Oct 2022

  1. “Forex Affiliate Programs: How to Choose The Best One – Voluum” https://voluum.com/blog/forex-affiliate-programs/ Accessed 12 Oct 2022

Any information/content/material is intended for educational purposes whereas Vantage does not represent or warrant that the material provided here is accurate, current, or complete and cannot be held responsible for any miscalculation/mistake or omission. Any reliance on such information is strictly at your own risk. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy and/or as investment advice. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Please seek advice before making any trading decision. Past performance is not an indication of future performance. The information provided is not intended for distribution to, or use by, any person in any country where such distribution/use would be contrary to local laws.

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