We've reviewed the best Forex affiliate programs for you and share 5 lessons we've learnt along the way. Compare commissions, cookie windows and marketing tactics. In some countries, you may need a "double opt in" from your email subscribers. Always read your broker's terms and conditions for guidance as email marketing can be a contentious issue.
So you've found a Forex broker and are about to join their affiliate programme. We've been there before and wanted to share 5 lessons we've learnt along the way:.
While high commissions are important, a broker's conversion rate is equally important. This is particularly hard to assess from the outset. You'll only get a feel for a broker's conversion rate once you start referring users.
Brokers with effective landing pages, compelling offers and strong sales teams tend to convert more users into traders. When you sign-up to a Forex affiliate programme, you should receive a tracking link. The link is unique to you and is for you to share with your prospects. When they access the broker's website through your link, the broker should cookie their browser with your unique identifier. This allows the broker to associate their account with yours as and when they open an account.
As you can see from the table at the top of the page, brokers have very different cookie "attribution windows". The attribution window is a technical word that describes how long the cookie will stay in their browser. For example, HotForex http: Of note, some brokers provide no cookie attribution at all. This model is only really suited to introducing brokers who have a personal relationship with the clients they refer and can sign them up directly.
You should avoid these programmes altogether if you are a web affiliate such as blog owner. However, a long cookie attribution window is no good if the broker offers a poor service.
We suggest running the broker against this simple checklist:. Brokers like to have a say over how you promote their brand and use their trademarks.
In many ways, they see you as an extension of their own marketing campaigns. That's true whether you're a web affiliate or an introducing broker. Most brokers will ask that you avoid marketing to traders based in the United States, North Korea, Iran and other countries.
Others may have additional restrictions, depending on their licenses and regulation. Once you've opened a Forex affiliate account, check with your account manager whether country exclusions apply. This will save you time and money, and keep you on the right side of the law. Trading foreign exchange, contracts for differences or spread bets on margin carries a high level of risk and may not be suitable for all investors.
You could sustain a loss of some or all of your funds if the markets move against you. For this reason, you should not invest more than you could afford to lose.
Information published on this website and in our external communications is factual and for information purposes only. It does not constitute financial advice under the Financial Services and Markets Act Home Forex Affiliate Programs. We've been there before and wanted to share 5 lessons we've learnt along the way: Commission structures Attribution windows Product and platform Marketing tactics Country exclusions 1.
Commission structures Forex affiliate schemes usually offer 1 or more of the following commission structures: Your commission may vary depending on your client's country.
Brokers usually base this figure on net revenues, calculated after transaction costs, chargebacks and bonuses. The more they trade, the greater your commission. Commissions typically vary across currency pairs and asset classes, such as precious metals, shares and indices.
Attribution windows High commissions are no good if your broker won't give you credit for your hard work. Product and platform However, a long cookie attribution window is no good if the broker offers a poor service. We suggest running the broker against this simple checklist: Does the broker provide a compelling service? Compare the broker's trading conditions against the competition.
This includes spreads, leverage and initial deposits across accounts and popular currency pairs. If the broker charges unusually high spreads or offers too little leverage for example, your clients are unlikely to open an account with them. Does the broker have unique selling points?
Ask yourself how you are going to market the broker to your audience. It helps if the brokers you're planning on promoting provide a differentiated service with unique selling points USPs. For example, easyMarkets http: Is the broker licensed or regulated? Some jurisdictions lack regulatory frameworks. However, it should ring alarm bells if a broker operates without a license in a country where arranging Foreign exchange investments is a regulated activity. If your clients' money is at risk, so will yours.
Marketing tactics Brokers like to have a say over how you promote their brand and use their trademarks. Reviews and rating from third parties help build their credibility. Brokers typically place no restrictions on SEO. However, you can expect them to crack down on you if you register domain names that use or mimic their trademarks.
It's a good idea to avoid "brand bidding" unless you have been given the all-clear because SEM monitoring software has made it incredibly easy for brand owners to track mentions of their trademarks in search engine results. Almost all require you that use only "opt-in" lists and secure their prior written approval.
Broker restrictions aside, you'll have to pay close attention to the law of the countries you operate in. Country exclusions Most brokers will ask that you avoid marketing to traders based in the United States, North Korea, Iran and other countries. Do you have a question about Forex? Ask your question in our Forums. AvaPartner winner of the best affiliate program.More...