Forex Affiliate Programs

Welcome! If you want to find more information about types of Forex Affiliate Programs or just want to read the description of this kind of affiliation, you will find all the necessary information in this article.

Description of Forex Affiliate Program

Affiliation or Affiliate Program is a kind of a marketing program, which goal is to attract people to a certain business; generally users refer other people to your business by themselves and receive a reward for it, as a rule, some fixed sum of money. Users can use any means for attraction of other clients, e.g. links, banners, etc. In case of a Forex Affiliate Program, affiliates refer traders to Forex brokers. In case of registration of a potential trader on the broker’s website after clicking on a link or a banner, which belongs to an affiliate, the referral will be counted towards. The registered trader becomes a client of the affiliate, whose link or banner he used to enter this website.

Affiliate can be considered as an Internet-bases Introducing Broker (IB), but in this case no personnel and office are required. Internet Forex Affiliates use internet sites to refer to their potential clients. It is very easy to become an affiliate, that’s why the majority of Forex Affiliates are private persons in comparison to real-life Introducing Brokers – organized companies. There is no need in special knowledge or other things for becoming an affiliate for a certain broker (or several brokers). This process is very easy and takes no more than five minutes.

How to recognize the referral link?

As a rule, some code or number is assigned to each affiliate, and you can see this number at the end of the domain name of the Forex broker. For example, if you are an affiliate of BJF Trading Group and want to refer clients to their website, your referral link might be like

http://iticsoftware.com/idevaffiliate/pages/302.php

So if you see such link you can be sure that it is the referral link of a certain affiliate.

Methods of reward

As it was mentioned above, Forex Affiliates receive some reward for referring people to Forex brokers. There are several compensation methods, which can be used for rewarding Forex Affiliates: CPL, Rebates, Revenue sharing, CPA, Hybrid method, and second tier.

CPL (Cost Per Lead). In this case a reward is paid to an affiliate if a referred trader specifies his personal details on a marketing page with some offer. This page is called a landing page. As a rule, a trader should fill in a form and provide his email address, name and other details. Sometimes a reward can be paid if a trader signs for a demo account.

Rebates. An affiliate receives a part of their clients’ volumes. It is pretty much similar to compensations for Introducing Brokers. For example, an affiliate receives one pip for his client’s every standard lot. A s a rule, 0.5-2 pips is a standard. Of course there are several dependences, including currency pairs (major trends or minor trends) and broker (ECN broker or market maker)

Revenue sharing. You may consider this type of reward as the most “intriguing”. An affiliate receives compensation not only from spread, but also from losses of his clients. As you see, brokers do not receive all money, which their clients lose. There are also such affiliate programs, which offer affiliates some percent from broker’s “revenues” from his clients. “Revenues” in this case means part of the losses.

CPA (Cost Per Acquisition). In this case a reward is paid to an affiliate if a referred trader either makes a deposit or signs up for a Live account. Note that there are some nuances, which are very important in this kind of affiliate program. As a rule, an affiliate receives approximately $150-250 per client, and this sum can be pretty much higher depending on the deposit size

Second tier. If you are a Forex Affiliate and you refer a trader to a Forex broker, it is considered to be the first tier. But the second tier is when a new Forex Affiliate is referred to the Forex Affiliate Program by another Forex Affiliate. In this case an affiliate, who attracted a new affiliate, receives some share of revenues of the affiliate, whom he attracted. An affiliate can receive either some percent of revenues or a fixed sum of money. Frankly speaking, it is not a very reliable kind of Forex Affiliate Program, because it is hard to track this.

Hybrid method. Of course, some affiliate programs combine several compensation methods, mentioned above. For example, CPA and be combined with Revenue sharing, etc.

Points for consideration

The first and the most important thing for you as for an affiliate is to know your broker. There is no perfection in the world, and Forex Affiliation confirms this statement perfectly. There are a lot of brokers, who can deceive you, e.g. they can hide information about opened accounts, delay payments or cancel your payment at all, simply stealing your hard-earned money. Generally speaking, such behavior is not smart, because these brokers pickle a rod for their own back and undermine their own business. In order to choose the right, “honest” broker for affiliation you should find more information about all possible candidates. Ask friends of yours and so some researches in Internet, but do not believe everything you read: many reviews are simply written by brokers themselves. Overall impression is all you need. Remember once and for all: the correct broker is your key to a success in Forex Affiliation.

There are all kinds of temptation in the world of Forex Affiliate Programs. Brokers try to attract your attention by offering high revenue sharing and rebates. Try to be immune to such temptation. Of course, there is nothing wrong in desire to receive high incomes, but there is no sense in such promises if there won’t be any payments at the end.

First of all, find all possible information about the broker you’ve chosen. You should check all “parameters”, which are important for your future clients: history of this broker, openness and transparency of its work and competitiveness of its offering. Give yourself the trouble to ask around and do all the necessary researches. Also take into account reputation of this broker and find out if it is big and known. The bigger and more famous is the broker, the more trustworthy it is, the higher are the conversion rates, and the less is the risk of being deceived.

You should also check if the broker has a multi-language support and offers more than one type of platform and account. These factors count in favor of the chosen broker, too. Finally, you should speak to the brokers’ affiliate manager and see his behavior in proper perspective: insincerity and too hard pressure from his side should alert you immediately. It is better to avoid brokers with such employees.

Secondly, you should check if the broker has any kind of back office support for affiliates in order to give them an opportunity to track performance in real time. It is not very good to receive information about number of your active clients only at the end of the month. Another cause for alarm is payments at the end of the month without any additional information. Immediacy is vital in online marketing, i.e. you should know about efficiency of your work in real time or everything is useless.

Thirdly, you should take into account methods of withdrawal/deposition of money. If there is nothing complex in the ways clients deposit money, and there are several payment methods (good for conversion), it’s perfect for you. Also pay attention how easy it is for an affiliate to withdraw money.

Of course, there are a lot of other points for consideration; however the abovementioned three points are the most important, especially the first one. Here is the final advice: even if you think your broker is the most reliable one, payments are timely and there is real time statistics, don’t be lazy to test your broker once in a while. All you need to do is to open a live account using your own referral link. Don’t forget to use the computer with different IP and also different name and credit card. It should be done in order to check if your broker gives you due reward. Sometimes brokers simply “forget” to do it.