How Forex Affiliate Programs Work (and How They Can Benefit You)
Have you ever heard the expression, "there's no such thing as a free lunch"? Most of us know that's simply not true. Take a sector like tourism, for example. When visiting a country like Thailand, you'll notice that the tour guides, bus drivers, and so on hardly ever pay for their own lunch. They stop at a restaurant, the tourists buy lunch - and the tour guide or bus driver gets theirs for free, as a thank you.
Before long, you'll notice that there are free lunches everywhere. Even in industries where you can't physically take customers to someone's business. Online affiliate programs make it possible for you to earn commissions on a recommendation or redirect that results in someone spending money on a website or platform. These partnerships are popular because they work.
Much like that restaurant stop in Thailand, making money through a referral program like this means you're happy, the company's happy and (provided they get a high-quality end product) the customer is happy, too. As you're about to find out, Forex trading affiliate programs are no different. Well, except that they're designed to make a lot more than the price of lunch.
In this article, We'll walk you through exactly how FX affiliate and referral programs work, what types of partnership are out there and which questions to ask if you're thinking of taking part. Ultimately, we'll give you the advice and insight you need to select a trustworthy, high-income, well-supported Forex affiliate program.
What Kind of Forex Affiliate Programs Are Out There?
Broadly speaking, there are three ways to partner with a Forex broker. You can do this as a referrer, as an affiliate, or by white labelling an entire trading platform. Here's how each of these works... and the kind of person each one is suited to.
Referral programs involve introducing new clients to a Forex trading provider or platform. You then receive commission based on how valuable these new signups turn out to be to the company. Typically, referral partners are agents, entrepreneurs, or corporate introducers.
That being said, in many cases they are simply experienced traders who know what they're talking about and have already managed to make a fair bit of money through online trading, either as a side hustle or as their main job.
In a lot of cases, traders who decide to try their hand at being a referral partner have already carved out a niche for themselves, creating content on the subject of trading. For example, they might run a successful blog or YouTube channel that positions them as an influencer. This makes it easier for them to forge connections with potential clients and persuade them to try out the trading platform.
Many Forex brokers that work with referral partners provide them with a package of promotional tools and content, too. This way, they don't need to spend time creating marketing materials and can focus on using their expertise and experience to gain new referrals instead.
Find out about Admirals' Introducing Business partner program.
Forex Affiliate Programs
This approach is designed for people who already have a well-established social media presence or other online platform that's related to trading. That could be a blog, a YouTube channel, a trading or finance-related media portal, or any other kind of influential social media presence. It's also a system that appeals to website publishers, mobile marketers, media buyers, email marketers, affiliate networks and social media influencers.
In other words, if you specialise in creating top-notch content or providing valuable advice, you've managed to build up a substantial following and now you're looking for ways to monetise it, this kind of partnership could be a great fit. It's designed to generate passive income - i.e. a revenue stream that doesn't add heavily to your workload.
Many people who take part in a Forex affiliate broker program have tried out other referral programs or affiliate marketing programs before, but they are now looking to partner with providers that can bring them a higher income. They also want to make sure they're comfortable promoting the trading platform and partner in question, as their business relies on giving sound, trustworthy advice.
Find out about Admirals' Forex Affiliate program.
White Label Partnerships
White label partnerships are designed for banks, investment companies and other financial institutions that are interested in growing their product portfolio. The idea is that they get to offer day-trading services, without having to develop their own platform.
Essentially, the bank pays to put their own branding and stamp on a version of the Forex platform, or to embed it in their own apps and technology, so that they can provide or sell it on to their own customers.
Find out about Admirals' white label partnership options.
What to Look For in a Forex Affiliate Program
Thinking of becoming a Forex affiliate? The first step is making sure you pick the perfect partner. That means asking two very important questions:
- Will this program give me the best possible rewards?
- Will I be able to persuade people to sign up?
Choosing the right partnership program
There are a few things to consider before committing to a partnership program:
Firstly, the obvious: is the commission competitive? Will it get better with the more people you bring in? Is there a transparent, flexible payment process that helps you keep track of your earnings? Secondly, think about how much help the Forex company provides. Do they make it easy to onboard people?
Do they give you high-quality marketing materials, such as banners, email templates, widgets, and social media covers, that you can start using straight away, with no extra effort? Do they provide comprehensive support in your native language and 24/7 access to your partner portal? If you're going to start seeing a fast return on your investment, these should all be a given.
Is the trading platform a match for your referees?
It doesn't matter how large the commission is – if no one wants to sign up, you can't make any money.
Ask yourself whether this is the kind of trading platform you would consider using yourself. Does it grant access to a broad range of financial instruments? To CFDs on Forex, shares, indices, bonds, cryptocurrencies and commodities? Is the broker fully regulated, with global reach? Is the trading platform easy to use and accessible on any device?
If the answer to any of these is 'no', the program probably isn't worth your time - or the gamble with your reputation. We'll be exploring this topic in depth in the coming weeks, though, so keep your eyes peeled for more detailed advice!
Our Final Thoughts on Forex Affiliate Programs
Forex affiliate programs can be an excellent way to supplement your income while creating value for your customers, readers or wider network. Depending on your set-up and circumstances, there are a number of ways to approach this, ranging from approaches that rely on personal introductions through to those that let you earn off the back of your site, without doing much extra work at all.
Bear in mind, though, you'll get more out of being a Forex affiliate by putting careful thought and effort into making it a success. As we've seen, the best Forex affiliate programs come with a complete marketing and onboarding strategy, back-end portals for monitoring return of investment, and in-depth support to make the process as streamlined, effective and profitable for you as possible. Investing a little time now into picking the right partnership and connecting with your audience will bring in more free lunches than you can count, a little further down the road!
Are you ready to join a marketing affiliate program and become an affiliate? If so, we're pleased to announce that Admirals offers individuals such as yourself the opportunity of becoming a partner through several different affiliate programs, meaning that by helping us to introduce our trading services to your network, we will increase your income and reward you with a variety of additional benefits!
We offer several different partnership options (as mentioned earlier in this article) such as our Introducing Business Partner program, that offer various benefits to your day to day trading experience, as well as, excellent promotional tools, 24/7 access to the Partner Portal, advanced analytics tools and access to exclusive features designed especially for Admirals partners. To learn more and to start earning an income through affiliate marketing with a global, award-winning, regulated broker, click the banner below!
Other articles you may find interesting:
- Top 4 Investing Strategies for This Year!
- Social Impact Investing - Strategies & Opportunities
- What is a Bull Market? Definition, Trading & Investing Strategies
Admirals is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.