How to Become a Great Forex Affiliate Marketer in 2022
Forex trading has experienced tremendous growth in popularity in the last decade because of its greater accessibility and lucrative returns without the need for large investments. People from all backgrounds are becoming more and more financially savvy and want to control their investments. Given the growth of forex trading opportunities, it is quite difficult to avoid getting sucked into it. With this in mind, there is no better time than the present to get involved in forex trading as a partner in forex broker affiliate programs to make money from this thriving niche. Indeed, forex affiliate marketing is a great opportunity to start your own business without investing a huge amount of money.
In this article, we will provide valuable insight into the world of forex affiliate marketing programs and give you some useful tips on how to succeed in this business getting the most out of forex affiliate marketing tools.
What is Forex Affiliate Marketing?
At present, almost all brokers offer the possibility to earn with the help of affiliate programs from multilevel referral programs through attracting people on the Internet to opening an official representative office in your city by a partner. There are a lot of different affiliate programs, and if you choose the right program you can really make good money, but unfortunately, not all of them are really good and can bring a real and stable income.
The reasons for the failure of affiliate programs can be very different: low royalties, initially unfavorable terms of cooperation, the broker's deception by cutting the number of clicks on the affiliate link to pay less, or generally, problems with payments, as well as many other things.
That is why it is often very difficult for a beginner to achieve tangible and stable profit through affiliate programs, and, in most cases, time and money are wasted on the promotion, which leads to the fact that a person simply stops doing it. So, let us start from the very beginning to find out how to get the most of the affiliate programs.
Affiliate marketing has played a crucial role in increasing sales for e-commerce and forex trading sites for years. Forex affiliate marketing is based on a referral system in which marketers make money by promoting and referring new clients to forex brokers.
An affiliate program is a form of cooperation between a company, in our case, a broker and a partner. A partner can be either a private person or another company. The broker's goal is to attract new active traders to the company, to increase trading volume and profit. For this purpose, a company is looking for partners who are engaged in bringing in clients.
As a forex affiliate, you receive a referral link to recommend a service or product to your network of traders or website visitors. The link can be used with advertising banners, emails, or any other online channel. Then, when the visitor goes to the web page of the broker or trading system and signs up, you receive a commission. The more traffic you generate that leads to conversions, the more money you can make.
Since a large number of people want to sign up to trade forex, there are many reliable affiliate programs. You can affiliate with many individual forex affiliate programs, for example, AdroFx. Today, many forex affiliates earn impressive monthly revenues by promoting forex brokers.
Now that you have a clear idea of the basics of forex affiliate marketing, let's talk about affiliate programs or networks so that you can better understand how forex broker affiliate programs work. Various forex affiliate programs connect marketers with reputable brokerage firms or trading systems. The way they work or operate is quite simple and similar.
Affiliate networks mostly seek to work with affiliates who have some knowledge of forex trading and have a steady online presence. It helps forex broker affiliate programs get more attention from promotions and marketing of their services.
So, if you run a trading blog with lots of subscribers or a video channel, you may have a better chance of success with forex broker affiliate programs. Here's how the process works.
You sign up as a forex affiliate with a brokerage company. You can choose one according to your goals, commission rate, and skills.
Once you register as an affiliate or partner, you are given a unique referral link that allows the program to track your performance.
If you are a forex affiliate, this referral link can be promoted with any audience, but the more financial, investment, and trading-oriented your audience, the better your chances of success.
So, we have already figured out what a forex affiliate program is. Now let's talk about the reasons for the high popularity of referral systems:
- High earnings - the forex market boasts a huge money turnover, so local service providers can offer partners very favorable financial terms;
- Passive income - partners have the opportunity to earn without doing anything. It is enough to invite a few new clients under your referral link and get remuneration for their activity;
- Growth possibilities - modern affiliate programs are multilevel systems, giving their participants more opportunities for the development of affiliate network;
- The absence of risks - a partner can stop being a member of the referral system at any time, without risking anything. It is worth noting that he can continue to rely on the percentage of referrals' profits.
Can You Really Make Money From Affiliate Marketing?
Let's make a long story short - Yes, you can really earn with forex affiliate marketing programs! And if you put more effort, diligence, and use non-standard methods of promotion - then you can earn much more.
Earnings from forex affiliate programs are one of the real opportunities on the Internet, where you can be sure that it will be paid. Forex companies, in addition to advertising activities in the media aimed at increasing their client base, are actively engaged in the development of affiliate programs, because they are the most effective means of attraction. That is why companies are trying to create the most attractive and flexible terms of cooperation, which will be interesting to both webmasters with experience and those who are just starting to work online.
Your monthly income from affiliate marketing is practically unlimited. It all depends on how diligently you advertise broker's services and how many clients you can attract. More customers = more attracted funds = more income from the affiliate program.
To begin with, you can expect to earn $200-500 monthly, that figure will gradually grow with the increase of attracted customers, and the ability to attract them itself.
However, this is not a problem for some partners, as a rule, it concerns those who already have experience working with affiliate programs. Forex affiliate marketing programs allow you to earn in proportion to your efforts and your skills.
It is possible to earn on affiliate marketing with almost any forex company. But it won’t be effective with every broker. The effectiveness of cooperation will depend on the reputation of the company, the type of affiliate program, and the conditions of this cooperation. The better the company's reputation, the longer and more successful it is in the market, the easier it is to promote it for you. A smart trader, a potential client, before he entrusts his funds to a broker, will try to read, in addition to recommendations of the partner, real feedback from existing clients, and only after that, he will decide to cooperate.
How much can I make with forex affiliate marketing?
The level of earnings directly depends on the program format, the number of attracted clients, as well as on the volume and quality of trades of these traders.
Forex brokers most often offer two types of affiliate payments:
- A share of spread (commission), which is about 10-50% of the amount received by the company on the trades of the referred person. Earnings in this variant can differ significantly for different programs, because broker trading conditions may provide both dynamic and fixed rates;
- AOne-time payment for the attracted client, where the amount of remuneration depends on the volume of the deposit opened by the client when forming the trading account.
It should be noted that types of brokers' compensations can be combined, and a partner can receive several payments at a time.
As you know, the earnings at the forex market and the exchange in general for the broker consists of commission, spread, which the broker charges from the trader for each trade, provided the company is legitimate. Otherwise, there are other ways, but we will not raise them in this article.
That is, if the commission from a single trader in favor of a broker will be one hundred dollars per day, then your profit will be 20 dollars. Why conventional? The fact that different brokers deduct different percentages to partners. Some as little as 10%, and some up to 50% or more. It depends on the terms of cooperation.
How to Become a Great Forex Affiliate Marketer
Of course, forex affiliate marketing programs cannot make you rich in the blink of an eye, you will definitely be able to set a passive income. And after you get started, it is only you who determines how much you will make at the end of the day.
If you have decided to become a forex affiliate, we offer you some tips that will help you to become a great partner, making successful both yourself and the broker you will work with.
Tip 1: Set Yourself Up as an Authority
The first thing you need to do is to make a name for yourself by creating a website. Your affiliate site is like a kind of funnel that leads visitors to use your broker's trading platform. As the only point of interaction for you and your clients, you need to make sure that the site is set up in the best possible way. It's also important to remember that you need to keep your site management and maintenance costs as low as possible so that you can maximize your profits.
After the creation of the site, it is necessary to promote it. On the topic of site promotion on the Internet, there is a huge amount of information, you can enter in the search engine query, such as "how to promote a site for free", and you get a lot of advice on the topic. If you're too lazy to read and do it all, then you can use the paid options promotion through some firms that specialize in these activities or use a very popular contextual advertising. These services are very popular because they work very effectively and the result comes immediately (so, you do not have to wait). You can also read about the work with these services on the Internet by typing in the appropriate queries in the search engine.
Tip 2: Build a Presence as a Forex Authority
There are plenty of advantages of keeping your Forex affiliate site up-to-date with high-quality content on a regular basis. Search engines will recognize your site as a worthwhile resource if you are constantly generating content.
Even more significantly, you need to keep your audience interested in your site to improve conversion rates. It should be noted that appearing on the first page of Google search results is useless if your content is not giving users what they are looking for.
Tip 3: Start Collecting Email Addresses
Creating an email base is a perfect solution to build communication with would-be clients. Basically, you are now establishing the foundation for your follow-up promotion endeavors. The easiest way to build a mailing list base is to add a subscription form to your site. And for this method to be effective, you should test different options: try out different designs, placements, and appeals. That's how you'll find the most effective format.
To begin with, you need to prepare a small, easy-to-read advertising text (for example, a short story about how you earn money online using a forex robot), and in this text, of course, embed your link. Once the text is ready, you need to find recipients to whom you will send it. As you can guess, the most necessary addressees are people who are interested in additional income, who are looking for work at home, etc. So how do we find such people? To do this you'll need to work hard - look for various job search sites, find job seekers' ads on them, create a text file in which you put their e-mail addresses, and then send each of them the letter you prepared earlier. That is all.
But you can do it differently - to look for people who do not need work at home, but, on the contrary, those who have money and do not know where to invest it. Such clients will be more profitable for you, so maybe it makes sense to look for more wealthy clients, to convey to them that putting money into a forex account where a trading robot will trade is a very profitable investment! If you find a few e-mail addresses of such users, you should prepare a separate newsletter for them, a better one. Do not forget to include your link in the letter, it is most important!
Tip 4: Sign Up to a Forex Affiliate Program
Now you are all ready to jump in with both feet into the forex affiliate marketing programs. Once you have the website and the list of contacts, you can start choosing the broker. Since almost every broker offers IB programs it can be not that easy to pick the best one. What you need to do is to check the reliability of the company and its reputation, don`t chase high commissions because it can be too good to be true.
After you have found the proper broker, open a partner account fulfilling your personal and partnership information. It is needed for a company to evaluate your prospects and to prepare suitable conditions for your very project.
Tip 5: Embed the Forex Affiliate Link on Your Site
After your affiliate application is approved, you get your affiliate link with different marketing materials, like banners. Now you need to paste this link on the website so visitors will be able to follow that link and register on the broker`s website. It may sound easy but it is not so. The trick here is to make this link attractive so people want to click it and, at the same time, it should not be too obsessive and repulsive because no one likes aggressive marketing.
Tip 6: Promote the Link to Your Audience
To bring the audience to your website, you will need to draw their attention. Of course, you can do nothing and wait for people to find your website somewhere at the end of the Google search but that's not what we are here for. To bring customers to the broker, you need to make use of all your sources, for instance, your email list we have discussed above.
First of all, have a look at the broker`s email templates (to make sure you are not misleading clients) and create your email and do it in such a way so people get interested in this broker and follow your affiliate link.
Tip 7: Promote the Link to a Wider Network Using Advertising
Another effective way to promote a link is through targeted advertising on Facebook. It's easy to get started - click on the appropriate Advertising section. Enter your affiliate link and start setting up the campaign. Fill in as clearly as possible the settings of your target audience, based on the portrait of a typical user. Also, pay attention to the budget settings. We advise you to adjust the budget per day. So you can limit the number of appearances and use the budget as efficiently as possible.
Moreover, forums are a good advertising platform for your affiliate links. You can register at various forums on the subjects of "Forex", "Earnings on the Internet", etc., and place a pre-prepared text with your affiliate link on them. You can place it in several sections of the forum, to allow as many people as possible to click on your link. Minus of this method is that advertising messages moderators of the forum are often deleted. But they don't delete them right away, so someone will see them anyway.
If you want your messages not deleted, you can do something else, write on the forums useful messages (not advertising) on the subject matter of the branch forum you came to. What then is the advantage of this method, you ask? Well, in that to each post on the forums you can add a so-called signature, which you can set in your profile on the forum. Here is where you can insert your link, so it turns out that you leave useful messages on the forum, and also promote your affiliate links.
The most popular to date, contextual advertising services - Google Adwords. Working with these systems is very simple - you make short ads, prescribe your affiliate link, choose keywords that users will see in your ads, and set the price per click. A user by entering, for example, a query into Google that matches your keywords, will see your ad on the results page, and if it's interesting he will click on it (at this moment the amount equal to the price per click you've set will be written off from your Google Adwords account); if the ad is not interesting he will ignore it (in this case you won't be charged anything).
This is a brief example of how the Google Adwords system works. Its advantage is that Google is the most popular search engine in Europe and most of its users choose it, and its disadvantage is that it is expensive, although the ads will pay for themselves anyway, it's just a matter of time.
Also, in Adwords, you can use graphical ads and with the help of a designer to create simple animated flash ads. It turns out very beautifully.
In general, deciding whether you should use this type of advertising or not, we only described here the main points of working with these systems, and briefly their pros and cons. More information can be read, as always, on the Internet on the official pages of these systems.
Tip 8: Collect Your Affiliate Commissions
Given that you have done everything correctly, now you wait for clients to open an account and start trading. If you choose the broker properly, it won't be a problem for clients to sign up and deposit their trading accounts. Now you can log in to your partner's dashboard and see your commissions growing.
Tip 9: Review and Improve
With such a wide range of forex affiliate marketing tools and hard work, you can make forex partnership your main source of income. To succeed here you need to monitor and analyze your current results to see what should be improved.
The formula for making money with Forex affiliate programs is very simple: figure out what works best and stick to it. Creating a working system consisting of repetition of successful results is the shortest way to success in this business.
And lastly, let us give you some advice.
- Don't be greedy.
Don't admonish your friends that you can make millions on forex. Show your example of money-making opportunities. If you don't have anything to show - tell them the benefits of the broker.
- Stability - the key to success.
Do it! No clients? No problem. Sooner or later, they will appear if you do something for them every day.
Many traders have additional income from the forex affiliate program, attracting other traders by the example of their trade.
- Plan your budget.
Once you receive your first commission, do not spend it and use it for advertising. Once you receive another payout, allow yourself to spend a little, but don't forget to put some of your profits back into the business.
Attracting clients through forex affiliate marketing programs is a profitable investment of time, effort, and money. Start small, and who knows, maybe along with trading over time, it will become your source of good profit
s. We wish you success and remember that the profitability of the trade very much depends on the broker you choose!
Challenges in the promotion of affiliate programs
The main disadvantage is the incredible competition in this area. For example, in order to go to the top of the search results on the query "the best forex broker," you will need not only knowledge but also time and of course a lot, a lot of money.
The second drawback is the mentality. When a visitor sees a referral link, he tries to bypass it in every possible way, as he is often upset by the fact that the broker will share part of the spread with the owner of the site from which he moved. It makes no sense to fight this phenomenon, you just have to take it for granted.
In general, the promotion of affiliate programs is not a bad source of additional income. And if the question is, should you throw your forces in this direction? Then it is definitely worth it because by regularly attracting new customers, you can constantly increase the level of income. So go for it!
Wrapping up, we need to say that there is a huge potential for earning money with the help of forex affiliate marketing program, and it keeps growing day by day. The popularity of forex market never cease to sprout since it provides unlimited opportunities to profit from both rising and falling markets, ensuring that trading doesn`t stop due to political crises, economic instability, coronavirus pandemic or natural disasters. Forex affiliate marketing programs will enable partners to constantly earn profits from trades made by the clients they have brought to the company.