How to Choose the Best Forex Affiliate Program.
Did you know that you can make money on Forex not only by means of trading different financial assets? There is such a thing known as Forex affiliate programs, and it's been gaining popularity recently due to almost unlimited income, full or partial automation of the process, and fast results. Even despite the disadvantage of high competition in this niche, even beginners manage to get their lucrative commissions each month. Indeed, with a properly built referral system, you can earn over $1,000 per month (experienced partners can make tens of thousands of dollars).
In this article, you will learn how to choose the best Forex affiliate, what aspects to pay attention to while looking for a broker to work with, and much more.
How to Choose the Best Forex Affiliate Program.
The effectiveness of the Forex affiliate programs heavily depends on the choice of the broker and the type of the program itself. You need to determine which type of program suits you. And it is connected not only with your desire to earn money but also with the type of traffic you have, how the product suits your audience, how you have placed advertising materials, and other factors. The first thing you should realize is that the principle "where they pay more, that's where I go" does not work here. If you are promised mountains and marvels, it is at least a reason to be suspicious. The question of choosing a partner needs to be approached consciously, and for this, you need to understand how the world of Forex affiliate programs works. Forex brokers, like all other enterprises, need profit - that's why they were created. The income of a typical Forex company consists of various commissions, which are charged from clients: the broker, opening a trader's transaction, immediately earns on the spread - the difference between the price of buying and selling an asset (almost like in a bank). Obviously, the more clients a brokerage company has, the more it will earn on them. That is why the affiliate program is a perfect solution for getting more clients. You, as a partner, make money too, so it's a win-win situation.
Why Forex affiliate programs are so popular:
Decent payment: retail Forex is a serious industry with huge money turnover, and an affiliate program of one broker can monetize your traffic like no other; passive income: even if you break off your partnership with the company, the reward will come as long as your referrals are active; multi-layered: serious multi-layered affiliate programs, the ability to develop an affiliate network by increasing the number of referrals and rewards; no risks: you don't lose anything if you suddenly realize that a Forex affiliate program is not for you (except for the money you invested in opening an office, creating your own website, etc., although the website can be sold or redirected).
Nobody says it will be easy: affiliate programs are highly competitive environments. Only professional market participants survive here. But this does not mean that the rest will fail. So, let's move deeper into this, answering frequently asked questions so you understand how the Forex affiliate programs work and what you should know before getting started.
How Large is the Forex Affiliate Commission?
One of the most essential (maybe even the most) questions arising while thinking of taking up an affiliate program is "is it really that profitable?" And it is understandable since everyone comes to Forex for money, either investing or being an affiliate partner. First of all, you should know that there are several types of affiliate programs, having different types of commissions and bonus offers. All these programs have their own benefits and advantages over another one. You choose the plan according to the way you are going to promote the broker, to your level of participation in trading, and the expected number of referred clients.
Basically, once you become a PaxForex affiliate partner, the payout for bringing a new client to the brokerage company can make up to $1000, based on the amount of that client`s deposit and the required volume of placed orders. There is also such a variant of Forex affiliate programs as being paid commission from the spread deducted for each clients` trade. Joining a hybrid affiliate program allows you to get commissions when clients you bring start referring friends, growing your network in such a way.
How Transparent Is the Affiliate Process?
Given the widely spreading popularity of the Forex affiliate programs, more and more companies crave joining this feast and try to make their own versions of partnerships. Consequently, it caused the immense number of websites offering affiliate programs, with barely 50% of them being reliable.
So, choosing the established company to deal with is the most vital aspect of starting your "referral business" since none of the promised commissions matter if you are not being paid as agreed or your clients are being scammed. Before you start working with a broker, check up on the transparency of its operations - make sure that you have access to the dashboard so you can track the trades placed by your referrals and see all the payments and commissions.
If there is no possibility to keep a close watch on your earnings, then the reliability of the broker should be questioned.
How Easy Is It to Onboard New Signups?
As you will definitely agree, the process of creating an account is the first impression of the company. Go to the website and make sure that the sign-up procedure is simple and understandable. In case there is a lot of information required or some other issues arise, it will be a serious problem for you if clients will not finish the registration. So, no matter how good your marketing approach is, no matter how good you are at explaining, it will all come to drain if the account opening takes 30 minutes. Check the website thoroughly and see if there are any issues that may be misleading or not clear. In case everything is understandable and crystal-clear, then go ahead to apply for a Forex affiliate program.
How Good Is the Forex Broker's Reputation?
One of the essential factors of choice for you is the fundamental reliability of the broker as a partner.
An important characteristic of a Forex broker's reliability is the duration of its work in the market, financial indicators, availability of reliable liquidity providers, conditions of withdrawal, and storage of client's money. In particular, clients' funds should be kept in reliable banks separately from company funds.
Another aspect of reliability is the reputation of a broker that is based primarily on feedback from real users. The user ratings can be useful for evaluation by this criterion, but they also can't always give a full picture. As we know, real clients of this or that company don't always write reviews on the Internet, and nowadays, a lot of comments can be paid by competitors to jeopardize the company's reputation.
Of course, it is imperative to study the history of the creation and development of the company, carefully analyze contracts and documents - all this helps to avoid possible misunderstandings or problems of interaction in the future. Do not forget to check the list of the countries the broker works with, so you will be able to consider that while managing your campaigns. By the way,
did you know that PaxForex accepts clients from all the countries? It broadens your opportunities like nothing else, as well as the ten years presence in the market. Wrapping all of that, working with the PaxForex, you work with a well-established company aiming to provide the best experience for partners.
Will the Forex Broker Help You with Marketing?