High return on Investment, high commissions and making millions with a few trades. Those are just some of the words that you might have probably heard about FOREX. You have decided to put all the noise about forex being risky in the background.
You want to make money from FOREX except you want to do it in a different manner. You don’t want to keep trading rather you want promote an affiliate program that earns you commissions from each referral.
Hang around if you want to know what to look out for in a Forex affiliate program. You would also learn of the top 5 affiliate programs you can join.
What makes a good affiliate program?
- High Commissions
The goal of joining an affiliate program is to make money, as much as possible. For that reason a good affiliate program needs to pay a considerable high amount in terms of commissions. Any affiliate that pays peanuts is definitely not worth your time and effort.
There are different structures the commissions can follow. There is the Cost per Acquisition (CPA) structure, Revenue share structure and Lot rebate structure.
In the CPA structure, you are paid your commission as soon as your referral registers. This payment is once and it usually ranges from $200 – $400 depending on the country your referral registers from.
Revenue share structure follows that you receive a percentage of your broker’s total revenue.
Lot Rebate earning structure lets you earn depending on the trading activities of your referral. The more your referral trades, the higher your commission and vice versa.
- Good Trading Platform and Product
Have you ever tried to buy something online, but find it difficult to checkout because of the messy way the shopping website is designed? 90% of the time, you often leave that online store to shop somewhere else.
This can happen to when it comes to forex programs. Before you sign up to become an affiliate for a Forex broker ask yourself the following questions:
- How is the navigation on the broker’s site like?
- Is the broker licensed?
- Is the broker regulated?
- Is it going to be easy to market this broker’s service?
- Does the broker have a unique selling point?
- Is the spread high or low with this broker?
Giving a genuine answer to each of these questions would help you choose the broker that meets your needs and that of your referrals.
- Marketing Methods
Forex brokers love it when you help put their name out, but many of them do have restrictions on how you go about marketing their products.
Most of the affiliate programs are cool with you using SEO (i.e driving traffic from Google searches) in your efforts. On the other hand most affiliate programs frown on you using search engine marketing efforts where you bid on their brand names or misspellings. They also do not encourage email marketing.
- Referral method
It is expected that you have a special link that helps the broker know that a referral is from you. Run away from broker that do not allow you to use links especially if the main way you want to run the affiliate program is through a blog.
Top 5 forex affiliate programs
Now that you know what makes for a good affiliate program let us look at 5 of the top affiliate programs around.
They follow the CPA commission structure and pay commissions as high as $800. This broker is regulated and they also help for you to market and track their program.
CPAs go as high as $1200 which is the highest in the market right now. Their products and platform is top notch so all you have to do is market the program.
Iq Option affiliate program
This forex affiliate program offers everything that you need. High CPAs, payments every two weeks, high revenue share as well as amazing landing pages that leave your referrals no other option than to sign up.
FXTM affiliate program
Commission structure here is a mix of CPAs and Rebates. This program also offers insights that help you and your referrals make better decisions.
Teletrade Partner program
This program offers commissions in CPAs, Rebates and in Revenue share
After considering what you want from your forex broker for yourself and your referrals, you can choose from the list of 5 brokers above or choose some other one you feel meets your needs best.