Choosing the Best Forex Affiliate
Program in 2021?
Want to start this new year afresh? Want to empower your entrepreneurial spirit by generating income in the five, six, seven figures – all while working from home? Then, you’ll want to join a forex affiliate program – but not just any forex affiliate program!
It must be one that’s able to adapt to the affiliate marketing trends of 2021- including stricter regulations, market volatility (COVID-19 is still here), increasing payment options, and the unstoppable growth of connectivity and social media.
Moreover, you’ll also want a forex affiliate program that delivers the highest credibility and profits, ensures transparency and security, backs you up with personalized affiliate support and promotional material, provides you with state of the art affiliate commission tracking platforms, and offers customized solutions.
So, before you decide on the best forex affiliate program to partner with in 2021, be sure to ask yourself the following questions:
How regulated is the broker behind the forex affiliate program?
With 2021 possibly bringing steeper regulatory measures and squeezing the trading industry, you cannot take chances. You need to make sure the broker-partner you select is registered with the financial regulatory body of the country where they operate – for example, a reputable authority like the UK’s FSCA (Financial Sector Conduct Authority).
Even better, ask them if they are regulated and licensed in several countries—a broker who’s registered with at least four regulatory bodies in your best choice. Who knows, you may want to do business in the EU, Japan, Australia, Africa, or the Middle East.
It’s important NOT to take this issue for granted. Unregulated brokers will almost certainly be unreliable since they don’t need to comply with any rules. Lack of regulation not only complicates your business dealings with such brokers but opens you to numerous risks, including:
Unregulated brokers can prevent you from collecting your already-earned commissions should they close the business Your clients’ funds are not protected if the broker goes out of business or some other catastrophes occur You can’t assure investors that their personal information is in safe hands You can’t protect yourself and your client from fraud, mistreatment, or bad business practices.
Due to the fact that regulated brokers must conduct and submit regular audits, and meet stringent criteria to stay on the regulatory body’s list, you can rest assured you’re partnering with a strong solid company that you can stay with for years. Be sure to check which regulatory body your potential partner is a member of – see their website – and that their membership is genuine.
Is the broker trustworthy?
While choosing a partner-broker for your potential forex affiliate marketing business isn’t exactly like choosing a spouse, it is still a very important decision. After all, your livelihood and financial well-being may well depend on it.
So, before you decide on a broker, a thorough investigation is in order, and the answers to the following question must be satisfactory: Who is this broker? Are they a fly-by-night business operator, or do they have at least three years’ experience in the industry – one with a solid history, trust and credibility among traders, unquestioned stature?
Is the online brokerage regulated, and do they have an excellent record of following the most stringent regulation standards? Can you trust their honesty and transparency with commissions? Are they the type of broker your clients are likely to trade with for the long haul – and that you’ll stake your industry reputation on?
Will the program give me access to just forex or all financial markets?
Some online brokers will only let you trade forex, and that’s fine – if you’re okay with this limited option. But other brokerages offer a wider variety of financial instruments- such as options and CFDs.
And can also provide you with the ability to trade a variety of markets, such as commodities, ETF’s, and treasuries. So, when you’re shopping for a potential partner-broker, do your research and see if the broker lets you trade CFDs (contracts for difference) and options.
CFDs broaden your trading opportunities by enabling you to trade almost every financial market – commodities and cryptocurrencies, Bitcoin and bluechip stocks, ETFs, bonds, and options – IN ADDITION to forex.
CFDs have become ever more popular in the last couple of years, and especially now as the markets react to the continuing pandemic.
How fast and accurate are the payouts?
Before you sign into a broker’s forex affiliate program, make sure the broker offers fast payouts, real-time transparency, and an easy way to track your performance and commissions. Also, check if your referrals are served well as far as payment methods go.
For example, does the broker offer them a choice of deposit/withdrawal mechanisms, such as the ability to use the referrals’ local online banking system and make deposits in their local currency, thus avoiding the high cost of international transfers?
Real-time transparency helps you track your performance, stay on top of your commissions, and identify opportunities for improvement. However, to achieve this, you’ll need an easy-to-use, technologically advanced dashboard – the more transparent and the more detailed, the better – that can help you monitor success factors such as the number of referred clients, ad performance, impressions, clicks, incoming traffic, received commissions, and more.
How much marketing support will I receive?
Whether you’re a beginner or experienced forex affiliate marketer, you can’t do it alone. That’s why the marketing support that comes with a broker’s affiliate program is critical in increasing your commissions and growing your forex affiliate marketing business. A partner-broker who invests a lot of resources in beautiful, engaging – and current! – marketing materials that will generate the desired traffic is worth their weight in gold!
So choose the forex affiliate program that offers free marketing tools – eBooks, banners, mailers, widgets, attractive, expertly designed landing pages, and other embeddable promotional material for your website – as well as trading education that will show you the tips and tricks for increasing traffic and improving conversion rates among your prospective referrals.
Are the commission plans flexible?
Not all forex affiliate businesses are created equal, and neither are commission plans. Forex affiliate programs who are willing to work with you for the long haul – rather than make short-term profits – will offer you commission plans tailored specifically to your business needs. These highly flexible commission structures include:
CPA (cost per acquisition) – Receive a one-time payment when your referred client opens a trading account with your partner-broker, deposits funds into this account, and places a trade. RevShare (revenue share) – Get a percentage from "netspreads" (spreads minus bonuses). Share in the profits, losses, and sales of your referrals for as long as they’re active. Hybrid – Take advantage of the best that a part-CPA and part-RevShare plan can offer.
Remember, a forex affiliate program that offers such flexibility is invested in seeing your profits soar and your business grow.
How personalized is customer support?
Check out those forex affiliate programs for their approach to customer support. When you give them a call, do you get a machine or to a live human being? When their customer service rep speaks to you, do they speak in your language?