The foreign exchange market is full of opportunities to make money. Apart from trading, there are opportunities to promote forex brokerage services and earn a sizable commission. These opportunities are called Forex affiliate programs and are growing in popularity.
Since forex trading is quite complex for some people, they stick to promoting forex broker services. They earn commissions for referring new traders and get paid for each transaction the trader performs. These commissions can seem small at first glance, but the earnings add up to a sizable amount if the affiliate works efficiently. The income can be comparatively reasonable, and it adds up quickly. That is why Forex Affiliate Programs are getting popular.
Some people combine forex affiliate marketing with trading. They earn a good living from these as long as they have the skills and experience.
The programs vary according to the broker. Some are better than others because of high commission payouts, quality support for affiliates, and different exciting programs from which one can choose.
We will explain how forex affiliates make money, and we will introduce the highest paying forex affiliate programs for 2022 in this article. Our goal is to help you understand how it works and choose an exceptional program to grow your finances passively.
How do Forex affiliates make money?
Forex affiliates make money by promoting the broker’s services. Once they complete their registration as an affiliate, the broker gives an affiliate link that contains a unique ID. The Forex affiliate gets paid a fixed sum when a new customer registers with the broker through their affiliate link. In many cases, they also earn commission on transactions and profit-sharing. It depends on the broker and the affiliate programs they offer.
A broker may have different programs, and the commission model would differ for each. There are many Forex affiliate programs out there. But let’s look at the most common commission models through which affiliates earn their pay.
Types of Forex broker affiliate commission model
Cost per Lead is a type of model whereby the affiliate receives a one-time fee for referring a trader to the broker. The conditions to earn this pay may not be too much, though the money is usually low. The affiliate may only be required to get clients to sign up. Funds deposit or active trading may not be a condition. The model is not profitable, so it’s not so popular. Affiliates prefer other programs where they do more work and earn more. Brokers prefer the same.
Cost per Acquisition is an affiliate program in which the marketer receives a fixed sum for each trader that signs up with the broker through their affiliate link. This model is also not very profitable because the payment is a one-time commission. The affiliate does not earn any future commissions on this trader. The conditions here are stricter than the CPL, though the pay is usually higher. The brokers try to ensure the client referred is a qualifying one before paying the affiliate. Consequently, the client has to complete the registration, fund their accounts, and start trading.
Many traders and affiliate marketers avoid this type of program since it’s no easy task to attract clients to brokers, and competition is extremely high. Affiliate marketing’s main appeal is its great potential to turn into a thriving passive income for the individual. The CPA model has no such prospect. Brokers too, have to work extra hard to keep each client. Therefore, this model is not a win-win style for both and is not so popular anymore.
This type is also known as spread-share. Revenue share is the most appealing model, though it requires more work. The affiliate gets paid a percentage from every transaction their referral makes. They receive a specific commission from the spreads on every transaction in some cases. The actual modality varies with brokers. Some brokers pay a portion of the spreads, and the fees earned from the referrals’ transactions. It is the true passive income. The conditions apparently require the trader to remain active and trade reasonable volume.
Many broker affiliate programs combine two types of commission models in their structure. The Cost per Acquisition and the Revenue share are two popular combinations. This hybrid commission plan gives the affiliate the opportunity to benefit from both models. They receive a payout for signing up the client and get paid for the client’s transactions throughout the month. Many forex affiliates and enthusiasts see this as the perfect commission model. It is the best way to grow your passive income in Forex affiliate marketing.
What are the highest-paying affiliate programs?
We bring you the three highest paying affiliate programs in the market:
Etoro partnership program
Let’s briefly examine them one by one:
IQ options is an online reputable forex broker that started operations in 2013. The broker is registered with the Cyprus Securities and Exchange Commission CySEC and has won several awards for excellent service.
The broker has a presence worldwide and offers its services in 13 languages. Traders can access a variety of instruments, including binary options, CFDs, Forex, and indices.
The broker’s affiliate program is among the highest-paying ones in the industry. Affiliates can earn up to 70% on revenue share and up to $1200 on CPA. This is an appealing offer because it is way above the average pay. The broker provides several payment methods to make it easy for Affiliates worldwide to collect their commissions. And the payment is made two times in a month.
Summary of IQ options affiliate program
- Its programs are of three types: CPA, revenue share, and hybrid.
- Affiliates receive an instant commission for the CPA payments.
- IQ options offer up to $1200 on CPA, and revenue sharing is for life or until the trader stops doing business with them.
- Affiliates get paid every two weeks without any delays.
- The broker provides detailed information and tracking so that Affiliates can monitor their performance.
- Affiliates receive helpful promotional materials that help convert their leads to paying clients
- Payment methods include Skrill, Neteller, Wire transfer, Perfect Money, Webmoney, etc. So no matter where you are in the world, you would have no problems receiving your commissions.
- Customer support is available in 13 languages to help affiliates convert their leads to clients.
Etoro partnership program
The best thing about Etoro is that the broker is the best Social trading platform in the industry. They have received multiple awards and recognition to prove this. So they are highly sort after as this trading style continues to gain popularity. Social trading brings experienced and inexperienced traders together in a community. The latter can gain a lot of knowledge from such a community, and novice traders can mimic profitable strategies from experienced traders. Etoro provides the best of this type of service that is getting a lot of attention in recent times.
They are an Israeli-based brokerage firm and have a presence in many parts of the world. The broker is a multiple award-winning brokerage and social trading platform. Having over 5 million clients in over 140 countries. Etoro holds a license from the Financial Conduct Authority FCA and the Cyprus Securities and Exchange Commission CySEC.
Etoro’s affiliate program, known as Etoro Partners, is one of the most successful in the forex market. The reason for this is the broker provides useful tools that make it remarkably easy to turn leads into sales here.
The broker’s affiliate program is of different levels, benefiting beginners and experienced affiliates accordingly.
Summary of Etoro Partners program
- Affiliates earn up to 25% on Revenue share and $400 on CPA. There is no hybrid commission plan.
- Rising star traders earn an additional $350 monthly payment. While all affiliates can earn 10% monthly pay on rebates given to their leads.
- Affiliates receive a lot of support, including promotional materials to help them increase their sales.
- Affiliates can easily track their activities and sales on Etoro’s user-friendly affiliate portals.
- There are multiple payment methods for easy transfer of commissions to affiliates. These methods include Paypal, Credit and debit cards, Wire transfers, Neteller, Skrill, and Union pay.
- Payments get made every 15-days. Wire transfers may take up to 8-days for the affiliate to receive their commissions. But other methods are quick.
OctaFx is another well-known brokerage offering appealing affiliate marketing opportunities. Introducing brokers are Affiliates who lead new customers to the OctaFx website to register and trade actively.
The broker has been in operations since 2011 and now has a presence globally. It operates under the Cyprus Securities and Exchange Commission CySEC license, and the firm has built strong credibility during these years in business.
Clients will not hesitate to sign up with them because they are a trusted broker with competitive trading fees.
OctaFx affiliate programs offer its introducing brokers three options:
The affiliate can choose either the CPA, Revenue share, or the hybrid commission plan.
The Revenue share is the most popular program with this broker. Affiliates get a fixed sum each time their referred client makes a trade. Your commission increases as you convert more leads. For example, you might earn $1 from each client if you’ve brought in 3. But if your referrals are up to 5, you get a $3 commission per lot. This deal is attractive, and some people earn up to $12 per transaction.
Summary of OctaFx affiliate programs
- OctaFx offers up to $1000 for CPA commission. In addition, they can make as much as $12 per lot on revenue share.
- Affiliates can withdraw their funds as often as they want. The commission is available for withdrawal every 24 hours.
- Affiliates receive excellent support with current promotion materials to help them convert leads.
- There is easy tracking software for affiliates to monitor their activities and inflow.
- OctaFx provides dedicated support for each affiliate. This means every affiliate has an acct manager that supports them if any issue arises.
- OctaFx offers a Master Introducing Broker Program that allows skilled affiliates to introduce new affiliates. It presents an opportunity to earn a much higher passive income.
- There are various payment methods to ease funds withdrawal. Skrill, Neteller, and Bank transfers are accepted.
These brokers are among the highest paying brokers for Forex affiliate programs. Although, it takes a great deal of effort and dedication to really build a sizable passive income here. Some actually believe it’s all a hoax.
Is forex a hoax?
Most people who think Foreign exchange trading is a hoax have tried forex trading and have failed. They now believe it is all lies.
Sadly, some of these people are now committed to spreading the word that forex trading is nothing but a scam.
It has made it laborious for affiliates that are trying to build a reasonable business in this space.
Some have also tried affiliate marketing, failed, and given up too quickly.
They now also spread discouraging rumors about Forex affiliate programs and Forex trading.
But Forex itself is not a hoax, and Forex affiliate programs are making many people rich. Although, there are bad actors in the industry, like all other industries. There are stories of fake brokers defrauding investors and affiliate marketers. It does not mean the industry is a hoax.
It is up to you, the individual, to thoroughly research the broker you choose to do business with. There are many good brokers and also bad ones. The internet is full of plenty of information that can help you identify the right broker for your business. There are independent sites where individuals like you and I post their experiences with a brokerage firm, both good and bad.
If you are looking to join a forex affiliate program, you would want to partner with an acclaimed broker with a good reputation. We will explain what to look for when seeking a good Forex affiliate program.
How to identify a good forex affiliate programs
Licensed and reputable broker
Your partner is the first and most important factor to consider when joining an affiliate program. A reputable broker that is well-regulated has already done half the work. People seek out such brokers, and all you would need to do is reach those people through effort. So you must ensure that your broker has the proper licenses, is well-known in the market, and offers quality brokerage service.
Good support service for affiliates
Your research for a good affiliate program should include support services for partners. The program should provide adequate support for Affiliates. It would be in the form of marketing tools, customer service, and easy tracking for the partners. Some brokers provide dedicated account managers for each affiliate to support them.
Good commission rates
The best Forex affiliate programs offer above-average commission rates to their partners. The conditions for earning the payments are reasonable. There are some who stick to the CPA or Revenue share commission models. There are others who offer the hybrid program. Be sure to find out so you can choose the program that aligns with your goals. One crucial thing to watch out for here is that conditions should be achievable and the payout reasonable.
Easy commission withdrawals
The best programs offer various withdrawal methods. The reason is that if one withdrawal option fails in your region, the other will work. The popular methods are credit and debit cards, Paypal, bank transfer, Neteller, Skrill, etc. Affiliates can receive their commissions without problems. So, for example, if Paypal fails to work, any other one should suffice. Ensure you check the broker’s payment methods to see that one or more is available in your region.
Straightforward affiliate registration
The ideal Forex affiliate program makes it easy for new partners to join the system. Registration is not complicated and does not waste the partner’s time. The agreement and terms are also clear and comprehensible. That way, new affiliates know what they’re signing up for.
If you checked all these boxes, it means you have found one of the best Forex affiliate programs in the market. So you need to meet some requirements yourself before becoming a true Forex affiliate marketer. We will explain this further.
What is an affiliate profile in Forex?
A forex affiliate program allows an individual or a company to earn commissions from advertising the broker’s services and attracting new clients. The affiliate can promote the brokerage services on their websites, blogs, or social media accounts. They earn a specified sum or percentage when new traders sign up with the broker through their affiliate link.
To become a Forex affiliate, you need to own a website or a blog. Many brokers also accept social media accounts, but you must have a considerable amount of real followers.
If you have one or more of the above, you can choose among the best Forex affiliate programs to become a partner. Once you complete their registration, they will give you a link.
This link would contain your unique identification (or username) as a partner with that broker. The broker’s system identifies all traffic you direct to its website through this link. It then records it for you and pays you commission according to the leads you brought in.
The link is what the affiliate uses to promote the brokerage services.
Depending on the commission structure, the affiliate gets paid each time a new trader registers and deposits money into their account. They also earn whenever their referred customer completes a trade.
It is not complicated, but it requires effort and commitment to generate leads and convert them to paying customers.
First, you need to be genuinely interested in Forex. As we have said, most traders and forex enthusiasts use Forex affiliation to earn passive income. You also need a good knowledge of the foreign exchange market to be able to promote brokerage services.
Another key requirement to join a Forex affiliate program is a website or blog, as we have mentioned. It must get a lot of visitors who might be interested in investing or trading the Financial market. Most affiliates get a dedicated website for their business. There, they not only post the affiliate link but share useful information about the broker. The common way to do this is through reviews.
Other ways to promote Forex affiliate links
Apart from websites and blogs, there are other channels through which you can promote the brokerage services and gain leads. They include:
- Social media, such as Facebook, Twitter, Reddit, etc.
- Vlogs i.e video channels where you educate people about the services. The medium is very effective.
- Emails: Some affiliates use email marketing to share their links and get new clients to sign up.
- The podcast is also another way to promote the brokerage service
People use any of these mediums for their affiliate marketing. Some are effective, while others are not. It also depends on your location. A vlog would be more effective in a region where people prefer watching videos to reading articles. Your target audience may not have the patience to read posts on a blog.
Forex affiliate programs can be highly lucrative as you have seen. Though it is not for everybody since it requires:
- Considerable knowledge of the forex market
- Hard work and dedication
- Funds (if applicable, to set up a website)
- and Perseverance.
The program does not generate profits instantly. Some successful affiliates had to wait for months before seeing reasonable results. You must persevere.
- Take advantage of all the marketing tools and education that your partnered broker offers.
- Learn as much as you can.
- Post quality content on your blog or vlog.
- Share useful information to maintain traffic to your sites.
- Keep your social media accounts active and interesting so that your presence is felt.
All these can generate new leads continuously. And among these impressions, you can see more conversions and earn good passive income from Forex affiliate programs