4 Tips on How to Choose the Best Trading Affiliate Program?
The trillion-dollar forex market presents unique opportunities for people to make money on the side. While the focus is usually on trading financial instruments, trading affiliate programs have opened up a new pathway for making money without investing in the highly competitive market. While the focus is usually on trading financial instruments, people also earn passive income without making trades.
What is a forex affiliate program?
Trading affiliate programs are tailored to promote the services of other traders or brokers in exchange for a commission on each transaction or deposit made. The presence of many brokers and affiliate programs requiring people to market and popularize their offerings has given rise to one of the biggest economies and job opportunities.
Becoming a trading affiliate is an excellent career path for anyone who wants to supplement their income without engaging in the actual process of trading in the forex market. It is also an excellent opportunity for anyone who loves promoting things online without delving into the actual trading details. Affiliate trading programs work best for people with many followers on Facebook or Instagram and those who like interacting with people. Monetizing a considerable following can help generate commissions while dealing with the right affiliate program.
Below are tips for finding the best trading affiliate programs for great commissions:
Market reputable brokers and brands
Market Reputable Brokers and Brands Reputation is critical in affiliate marketing. By building a positive reputation, one can enjoy strong referrals from previous clients. Consequently, it is essential to only deal with reputable forex brokers known for their one-of-a-kind services and customer experience.
As an affiliate marketer, you need to research what people think of them, their services, and the experience people have while dealing with them. Regulated forex brokers are some of the best, which means they play by the rules and are committed to protecting customers’ capital.
While selecting a forex broker, look at online reviews (positive and negative), how long the broker has been in operation, which regulatory bodies they are approved by, and if they have a reliable trading affiliate program. The best brokers are regulated and have a presence in many countries, telling of how well-established the broker is and meaning they adhere to country-specific laws.
How large is the affiliate commission?
Commission Structures Different trading affiliate programs come with their commission types and payment structures. Depending on the deposit amount a person you refer makes, you can expect to earn between $600 and $1,000.
Sign up with forex affiliate programs that value the kind of work you do to draw in clients. The program should be in a position to allow you to make decent money while leveraging your following on social networks. The best forex trading affiliate programs are the ones that allow people to earn ongoing commissions tied to how much each of the referrals trade. Other programs pay affiliate commissions when referred people go on to refer other people.
Additionally, there are two main ways one can make money through affiliate trading programs:
- Cost per Acquisition (CPA)
- RevShare or revenue sharing
Under CPA, an affiliate marketer gets a commission on bringing in a new referral that signs up with the broker. The structure allows one to make money depending on the referrals that one makes. However, it is usually a one-time payment. Most trading affiliates prefer CPA structure as the payment structure is not tied to the performance of the broker. Instead, one is paid for each client referred to the platform.
The RevShare structure also stands out as it allows one to make a commission as a percentage of every customer transaction. Therefore, you get paid long-term as long as the referred clients continue trading with the platform. If the broker you partner with has a stellar reputation, the likelihood of attracting more clients is more, leading to more revenues and higher commissions.
Settling on a trading affiliate program like BlackBull Partners offers an opportunity to choose the best payment structure as it offers both CPA and RevShare plans.
Marketing tools and support
Creating a solid and sustainable income stream around affiliate marketing depends on bringing plenty of people to the broker’s site. Therefore, you must rely on adequate marketing tools to convince people of the need to trade with the particular broker compared to others. The best forex brokers understand this and will do anything within their power to make your work smooth as possible.
Therefore, any good trading affiliate program should offer all the support and tools needed to succeed. That said, it is important to partner with a broker partner that provides all the marketing materials, support and tools. The broker should also have a proven way of creating a seamless integration between the site and pages and the broker’s sites.
Some of the marketing materials that one should look out for when exploring an affiliate trading platform include:
- Expertly crafted landing pages
- Social media headers
- Website banners
- Draft emails
- Banners and mailers
- Embedded promotional materials
Additionally, the affiliate program should have a reliable support system that responds to any queries raised adequately and timely. No matter how great a portal or a system is, there will always be a chance of something going wrong. Therefore, a comprehensive support system should be with a helpful, knowledgeable and multilingual team. Only team up with brokers that prioritize communication with affiliates.
A lot of thinking and evaluation should go into play while selecting a trading affiliate program for anyone looking to make a career out of it and generate significant passive income. Unfortunately, no forex broker offers a single one size fits all affiliate program. Therefore, settling on a program that works best for you based on the commission structure is essential.