Let's start with the basics
What is forex affiliate marketing?
An affiliate programme is a programme in which one person refers another person to a business in exchange for remuneration (usually financial). This is usually done through referrals, banners, links or any other type of marketing material. In forex, affiliates refer potential traders to online forex brokers. A referral occurs when a potential trader clicks on a link or banner provided by an affiliate and then registers with the broker to trade with them. The trader is considered a customer of the affiliate programme that owns the link used to take the trader to the broker.
An Affiliate Marketplace is an online version of an Introducing Broker (IB). It is basically an IB but without an office or sales staff. Online forex affiliates refer their clients through websites. Becoming an affiliate is much easier, and forex affiliates are usually individuals with a website and a lot of traffic, as opposed to IBs, who are usually organised as companies and are more structured. Becoming an affiliate of some brokers is very easy and can take less than five minutes.
What does a referral link look like?
Normally, you'll see a short line of code right after the forex broker's domain name. For example, if someone refers clients to a broker, their referral link may look like this: http://www.brokerwebsite.com/destination.php?id=5. This means that anyone who places the link is working as an affiliate.
Compensation types for forex affiliate programmes:
As stated above, forex affiliates are compensated for the referrals they make (why else would they place links to a broker on their websites, right?)
This compensation can take several forms:
CPA: acronym for "Cost Per Share". Our affiliate programme pays affiliates from $200 to $800 for each qualified trader they bring in who deposits funds and starts trading with them (not in a demo account).
Revshare (Revenue share) is the typical "revenue for life" model, where you receive a percentage of the revenue made by the client you referred or of the company's revenue from this client. The second of these two Revshare scenarios is used in our affiliate programme. The affiliate receives from 40% up to 60% of the company's gross revenue for each trader the affiliate brings in. This option is appealing because you can earn money off of both the profit and losses that recruited traders make.
"Second tier" is another important type of programme (referring a trader is considered "first tier"). Basically, this means that if you're a forex affiliate and you refer another forex affiliate to the affiliate programme, you'll receive a portion of that affiliate's profits. We offer 5% of the recruited trader's input.
How do you choose an affiliate programme?
1. The most important thing is to know your broker thoroughly. Some brokers are notorious for playing games with their affiliates, forgetting to report open accounts, delaying payments and even failing to pay out well-deserved commissions. Sounds like a poor approach from the brokers? We think it is! These brokers are shooting themselves in the foot and undermining their own business. We don't recommend working with unverified brokers.
First, find out how big and well-known the broker is. A rule of thumb is that the larger and more established a broker is, the better the conversion rates are and the less likely they are to play around with their affiliates.
Libertex has been in the market since 1997 and is one of the most respected brokers. We have received numerous awards and all the necessary licenses that regulators issue. We operate in 120 countries and have more than 650 employees worldwide.
2. Support in multiple languages is another important factor. Our support service speaks the most popular languages in the world, and personal managers provide all the necessary information.
3. Training and promotional materials. A good broker always provides its affiliates with everything they need to be successful at recruiting traders. Libertex Affiliate accounts offer training and promotional materials, including ready-made banners, buttons and even landing pages.
4. The affiliate back office and reporting section. It's very important to make sure that the Broker provides some form of Back Office software that allows the Affiliate to track their performance in real time. It's not good if you can't find out right away how many customers have signed up using your links and instead have to wait until the end of the month. Unlike some dubious brokers, we at Libertex provide each affiliate with a powerful statistical system that allows you to track all the necessary indicators in detail and in real time.
5. Deposit and withdrawal options. This works two ways: how easy it is for your customers to deposit money (more payment methods means more conversions) and how easy it is for you as a forex affiliate to withdraw your commission. We accept a wide range of payment methods, including bank transfers, PayPal, WebMoney, Qiwi and many others. In addition, the minimum withdrawal amount for our affiliate programme is only $100.
Making money with a forex affiliate programme isn't as hard as it sounds. It's actually easier than trading forex indirectly. The most important thing is to choose the right programme. That's why we hope you choose our affiliate programme at Libertex.
Signing up with us is very easy and completely free.
Test your traffic, and you'll be pleasantly surprised!
