In the recent years the forex market reached its maturity, a fact that can be…
Highest Paying Affiliate Programs: Best Forex Affiliate Programs
Nowadays an affiliate program is truly the most efficient way to market your product and make money using the web. Now you may write content, and you can simply link the product that you are discussing. This is a practical example of an affiliate program. If any of the customers click on the link and end up buying the product, then you will be able to get a commission from the sale of the product. However, one fact remains there that financial affiliate programs can be quite a lucrative option. If you want to make use of the best affiliate program, then you have to opt for Forex affiliate programs. Thus, you should think along the lines of promoting the Forex brokers. Before that, it is important to explore the concept of affiliate programs.
How the Affiliate Programs Work and Their Benefits
For getting access to an affiliate program, you first need to create your own website. The good news is that if your website is content-driven, then you can easily make money from the traffic that comes your way. Now, what happens is that online merchant websites offer a commission to the affiliate websites. Thus, you can use your website as an affiliate website and earn money. The affiliate websites tend to post the links to the merchant website, and thus the affiliates are paid as per the agreement.
The agreement varies depending on the people that the affiliate can send to the merchant website. The agreement may also vary depending on the number of people who buy the products or perform some other action. Thus, the simple rule is that if the affiliate website can bring traffic or money to the merchant website, then the affiliate is paid money on the agreement.
There is no doubt about the fact that affiliate programs are an excellent way to sell the products. Secondly, affiliate programs are the most effective and cheap marketing strategy. There are three main parties in an affiliate program.
- The merchant site
- The affiliate site
Types of Affiliate Payment Methods
Now there are three basic ways the affiliates are paid.
- Pay per lead: Now in this case the merchant sites pay the affiliates depending upon the visitors they refer to the website. The visitors tend to sign up with the merchant site as a lead. This means that the visitor will actually fill up a form on the merchant site and the merchant site will consider that filled up form to be a sales lead.
- Pay per click: In this case, the merchant site pays the affiliate depending upon the number of visitors who clicked the merchant website. The customer may not buy anything from the merchant website in this situation. The affiliate is paid regardless of the action performed by the visitor.
- Pay per sale: Now, in this case, the merchant site pays the affiliate if the visitor visits the merchant site and buys something. Some merchant websites give a percentage of the sale to the customer, and some merchant websites pay fixed commission to the affiliate website. In the case of forex affiliate programs, the merchant (the forex broker in this case) can pay a percentage of the commissions earned from the clients (Revenue Share) or a fixed flat commission (Cost Per Aquisition).
Things to Remember When Promoting Forex Brokers
Now if you are interested in Forex affiliate marketing, then there are certain things that you need to understand. The Forex affiliate marketing is a business of the partnership. First of all, when you decide to promote a Forex broker, then you should first research about it so that you do not end up promoting a fraudulent broker. You should visit the website of the broker and read all the terms and conditions so that you have a clear idea regarding what the Forex broker has to offer. You should have a fair idea about the trading conditions of the broker as well before you decide to sign up as their affiliate.
The Forex broker that you decide to promote should be legally registered. You should also ensure the fact that broker you intend to promote is not blacklisted. Secondly, you should make sure that you only opt for the renowned brokers and there is a reason behind it. You can set better conversion rates with the renowned brokers. You can expect improved credibility from a renowned broker.
It is always preferable to go for a Forex broker that offers some back-office access to the affiliate. This way it becomes much easier for the affiliate to track his performance in the real time. You should exactly know the number of clients who signed up using your link. This way you will be able to evaluate your performance as well and have a clear idea what you will be paid at the end of the month.
Some brokers tend to have complex commission withdrawal methods, so you need to check out from this perspective as well if you decide to sign up with a broker. Your main objective is to earn money, and you should only opt for a broker that can offer you a secure earning at the end of the month.
Now one more thing that you need to remember is that when you are joining a broker as an affiliate, then you need to test their link. This is the same link that you refer to your clients. Just check out that if you click on the link and open an account using a different IP address, does your broker credit you for the new client. There are times when brokers do miss out on these credits. The purpose you check this is to ensure that you will get the fair amount of commissions that you deserve. This is also an authentic approach to testing the transparency of the broker that you intend to choose. Once you perform this practice, you will be sure of the fact that you have chosen the right broker.
How to Promote Forex Brokers
When you have to promote a Forex Broker, then this is usually done through banners and links. Your objective is to direct the potential traders to the Forex websites. When a trader receives the link or the banner he clicks on the link and registers with the broker that is identified by the affiliate. Now this trader is then marked as a client of the affiliate. Forex affiliates tend to refer their clients through their websites. Now there are three main methods through which the Forex affiliates get paid.
Methods of Payment of Forex Affiliates
The key methods are as follows:
- Revenue sharing: Now Revenue sharing is the main source of earning for the Forex affiliates. In this case, the affiliate is paid a part of the commission the broker charges to its clients. Some brokers pay a percentage of the spread (such as 30% of the spread between the bid and ask price) for all the transactions made by the referred clients. Others simply pay a commission based on the trading volume, for example 6 dollars for one lot traded. The share of the spread is more profitable when clients trade exotic pairs and the spread is high, while the commission per lot is more profitable when clients trade popular pairs such as EUR/USD where the spreads are low.Anyway, in both cases revenue sharing can be extremely lucrative for affiliates because some traders make lots of transactions and generate huge volumes resulting in high commissions. If you can bring quality traders, this is the most profitable type of partnership, because you will earn recurring commissions from your traders that can last for years.
Now the disadvantage of revenue sharing is that small traders will generate very small commissions, and if you are unable to bring high quality traders the overall commissions will not be impressive.
- CPA: Well, CPA means cost per acquisition. The affiliate is able to get this type of compensation when the client makes a deposit to the broker and trades a certain amount in order to prove that it was not a fake account. CPA commissions in forex can be very high, but some brokers may not be willing to offer you this kind of deal unless you can send them a constant number of traders, because they are afraid of affiliate trying to defraud them by sending fake accounts and taking advantage of the CPA payment.
- CPL: The word CPL stands for cost per lead. The trader gets this compensation when the client gives his personal information on the landing page of the broker. If the client decides to sign up for the demo account of the forex broker, some brokers give commission in this situation to the affiliate as well. Such commissions are usually small and most brokers avoid offering CPL because it can be abused by dishonest affiliates.
- Hybrid payments: The Hybrid commission involves the options above. In this case, the affiliate may get revenue sharing and the CPA. This is an extremely powerful type of commission plan that gives you the best of both worlds.
The Best Forex Affiliate Programs Of 2016
Here are the best Forex affiliate programs of the year 2016. They all promote regulated brokers that are very safe for your clients, so you can rest assured that you send your visitors to a trusted place where they will receive the highest level of service. On top of that, the affiliate programs mentioned below have a very good history of paying their affiliates large commissions and are known to be the most lucrative forex affiliate programs in the world.
- AvaPartner: If you want to monetize on your website traffic then you should consider joining the affiliate program of AvaTrade. AvaPartner offers high commissions to the affiliates. It makes use of both the CPA and Revenue Share models. AvaPartner is a great opportunity to earn for the bloggers and website owners. Website: www.avapartner.com
- ETORO Partners: The affiliate program offered by Etoro is very good as well. They share 25 percent of their revenue with the affiliates. They also offer another exclusive commission plan that is the DCPA. This is one of the oldest forex affiliate programs and still one of the most profitable. Website: www.etoropartners.com
- XM Partners: This affiliate program offers a commission based on the volume traded by the clients referred. The commission rate can go as high as $10 per lot if you send many clients to them. The best part about this affiliate program is that you will promote one of the best forex brokers in the world, namely XM, which can convert even the most sophisticated traders into depositing customers. Website: partners.xm.com
Now the above mentioned are trusted affiliate programs. If you decide to join any of the programs mentioned above, then you can be certain regarding the fact that you will earn a decent amount and your future will not be at stake as well. If you decide to invest in the mentioned affiliate programs, then it will surely turn out to be a profitable venture for you so make the wise choice if you do not want to end up wasting your valuable work on promoting poor brands that never convert your traffic or fail to pay your hard earned commissions
Remember the fact that if you intend to become a Forex broker affiliate, then you need to have sound knowledge regarding this business. This way you can protect yourself from a potential scam and will not put your clients in a scam situation as well. Do not get carried away by just high commissions of brokers. When you join a broker affiliate program, then monitor the fact whether it has been a profitable venture for you or not. It is also important to keep monitoring the market performance of brokers as well because if the broker’s reputation is not good eventually, you will be affected as well.
Join the best broker affiliate programs today and get a consistent income coming your way. Remember if you choose a reputed broker then you will be able to earn a lot so do not miss out on this opportunity if you want to monetize your website’s traffic.