Forex affiliate programs can translate into big paychecks for affiliates who know how to navigate the world of Fx trading. While there’s lot of competition from other Forex affiliates, there’s also tons of opportunities and commission plans that can translate into huge paydays for top Forex affiliates. Let’s take a quick tour through the world of Forex affiliate programs, examining the basics of Forex trading, some of the more popular affiliate programs available, and what to look for when selecting a Fx affiliate program and commission plan.
The key to success with any Forex affiliate program is to first understand the mechanics of Forex trading itself and the type of person it appeals to. Forex trading involves the trading of currencies from countries around the world, with trading occurring around the clock during weekdays. It’s not tied to any particular country or stock exchange, so it’s got a universal appeal for potential traders around the globe. Forex traders make money just like investors in stocks and bonds do, as far as taking positions in certain currencies and profiting when the value of that currency rises or falls. Forex trading tends to appeal to younger, more aggressive traders who make frequent trades and often use leverage to magnify their trading gains (and losses).
All of that’s very important to keep in mind when entering the Forex affiliate world, as it affects both the types of sites you’ll build, the traffic you’ll try to get, and the types of Forex affiliate programs you’ll promote and work with. The type of person who’s easily convinced to open and fund a Forex trading account is very different from a person who’s searching the Web for advice on picking the best mutual fund or looking for financial advice to lower their monthly bills. You won’t have much success with promoting Fx affiliate programs if you just slap up some banners on general finance sites. Most successful Forex affiliates have sites devoted solely to Forex, including trading blogs, trading tips and strategies, reviews of various Forex brokers, discussion forums for traders, and more. While you don’t have to be an active trader yourself, you do need to be familiar with how it works. Many Forex brokers provide training or demo accounts that let you make paper trades to test out the platform, so be sure to try some of these just so you understand the world of Forex if you’re not a trader yourself.
When you’re ready to find a Forex affiliate program to work with, be sure to do some research first. Most programs are offered directly by a Forex broker, so check out the broker website, their credentials, licensing, and any other info you can find. Like any field that involves the potential for big profits, some Forex brokers are more reputable than others, and you want to be sure to work with a trustworthy program that provides affiliates with the support they need and pays commissions in a timely fashion. Don’t necessarily just promote the affiliate program offering the most per signup for new traders you send them, as you may be left holding the bag and out a lot of money if the broker suddenly disappears overnight or goes out of business. Treat your search for an affiliate program just like you’d treat a search for a bank to open a new account with, as you’d look for the same sorts of things as far as signs that they’re reputable, that they’ve been in business for many years, and that they operate like a normal legitimate business, with contact information on their website and phone support for any questions or customer issues.
After you do your research and find some good affiliate candidates, don’t just select one and work solely with them. Not all programs are created equal, and it’s best when starting out to try a few different affiliate programs to see which works best with your traffic. Working with more than one program allows you to do split testing to see which converts best for you and your traffic, and it prevents you from putting all of your eggs in the basket of one single affiliate program, for better or for worse.
Another key factor to consider when picking affiliate programs is what sort of commission plans they offer and if they track cookies for traffic you send (and if so, how long are the cookies valid). Due to the fact that active Forex traders can make thousands of trades during a year, it’s usually best to go with an affiliate program that offers you payment on a revenue sharing plan, where you earn a certain percentage (sometimes as much as 10-15%) of the total revenue generated by traders that you refer to that program. If you’re lucky and skilled enough to refer very active traders, this can easily produce tens of thousands of dollars in affiliate payments for you, so it’s almost always better to pick a program with a revenue sharing plan over one that just offers a CPA type deal where you get a one-time payment per trader you refer. You may miss out on a few quick dollars here and there, but your potential profits later down the road are much, much greater.