20+ TOP Forex Affiliate Programs — Best Trading Affiliate Networks of 2024 for Online Money Making
Forex, popularly known as foreign exchange is a group of buyers and sellers who transfer currency among each other at a predefined rate. It is a great way for companies or individuals to change their money from one currency to another.
Chances are that if you have traveled abroad then you must have experience in making a forex transaction. Whereas a whole share of this process is for ease of payment for travelers and other practical purposes, several people also use it as a profit-making entity.
FX or Forex is the largest trading financial market with 5 trillion US dollars of daily volume, which enlists that there is a huge money-making potential in this field.
By becoming an affiliate for forex trading, you get to reap the benefits of the largest financial institution without becoming a part of any loss whatsoever. The payouts are great, the opportunities are endless, and the currency is skyrocketing right now.
These are just some of the reasons why you should do it. If you stick with us long enough, you will get to read some amazing real-life stories along with facts and figures in this niche.
What Is Forex Affiliate Marketing
Forex affiliate marketing is not all that different from general affiliate marketing. It has the same essence but different principles. In the context of the trading affiliate market, the webmaster directs traffic and traders to an external broker’s trading forum.
Whenever a prospective client clicks on your links to check out a platform that leads to signups and funds, then you will earn a profit on that transaction. The forex affiliate payment structures are widely variable depending on programs and brokers.
However, most of them are dependent on the height of the deposit or the volume of trading that a trader generates. The term trading affiliate or Forex affiliate is sometimes also an all-inclusive term for all types of affiliate partnerships, such as introducing a trading platform to another with or without the use of the internet.
Therefore, it is a contract between an affiliate marketer and a broker, where both parties benefit. One gets clients and the other earns a set amount of profit.
Can I Make Money From Forex Affiliate Marketing
In a nutshell, the answer to that is yes. The forex trading market operates 24 hours a day and 7 days a week, which makes it the fastest growing industry in the world. The international forex market, for now, is worth $1,934,500,000,000, which has made it possible for millions of affiliates around the world to make billions of dollars.
However, there is obviously a catch. If you are in for some quick money-making, then it is definitely not for you. But if you are up for putting in hours and hours of work along with full dedication and effort into your platform, then you should sign up for it.
The more significant work you put in, the more chances you have of driving your venture to success.
An excellent example here is of John B, with his hard work and immense hustle, he changed his side job to his primary source of income. He formerly launched his website in September of 2004, which was hard coded and made on HTML. And three years ago, he made his first live website, called forex affiliate reviews, and since then he worked day and night to make it a success.
According to him, three things can either make or break your website, and they never left his line of focus. He said that good content at the right time, a perfect forum, and dedication is the way to go.
He went forward by studying the market and educating himself on the requirements of the market. He leveraged on the power of content syndication to direct 4000 unique customers on his website each month.
Even though he did not disclose his total earnings in the interview, he did mention that he has more than 2 000 loyal clients, who prefer to do their business through his website!
Types of Forex Affiliate Programs
With several options available in the market, it gets quite overwhelming to find the perfect match for yourself. However, the second most important thing for affiliate marketing after selecting the niche is to find the most suitable program.
There are almost two broad categories in which we can divide the types of forex programs. Other than the types, the payment also differs from broker to broker.
It is tricky to find the perfect balance between payment structures, commission fees, and options. But it is not impossible because we are here to help you navigate your way out!
The two main types of forex trading affiliate programs are:
Multiple platforms host referral programs and it is exactly what it sounds like. You are responsible to introduce new clients to a broker or a trading platform, and you are paid a commission depending on how valuable the customers turn out to be.
Many forex brokers that work with partners as referrals have a set promotional package for each one of them according to the audience that they attract, along with tools and content. This way, you don’t have to invest much time in composing marketing materials and just use their resources to gain both experience and expertise.
This is the true form of affiliate marketing. Here you are supposed to endorse a certain broker with whom you have a contact. You share either the link or host the broker’s site on your social media or blog. Your blog can range from a variety of topics, including reviews, comparisons, or even interviews.
Honestly, this is your best bet. Some would even say that forex affiliates earn more than traders themselves. Even back in 2011, the daily turnover for affiliates was 4 trillion dollars. Imagine the difference in currencies now and you can easily evaluate how much you can earn through these programs!
In this type of trading affiliate marketing, a lot of people who take part in the Forex affiliate broker program already have some experience of referral or affiliate marketing programs before starting with them. They are looking for new partners with providers who can bring a larger chunk of profit and can work on higher commissions.
They just want to make sure that they are comfortable with the company's terms and are okay with promoting their platform. This is because they already have an established influence on their followers and are a voice of trustworthy advice. They cannot tarnish their reputation by giving out bogus advice.
How Do Forex Affiliate Programs Work
Our main focus of this article is to educate you about the work of the affiliate program. They are mainly designed for individuals who have a separate social media or blog influence. But you don’t have to worry if you are not there yet, you can build your platform from scratch and develop a following.
Process
To explain it in the easiest way possible. You essentially have to place a banner or an embedded link on your website to the broker’s platform. For example, if you have a comparison blog, where you put up reviews about two different forums, you can add a link to each one of their sign-up pages.
Both the involved parties sign a contract in the beginning with the offer that they will put up, which should be in accordance with your audience.
To summarize, you will divert traffic to their platforms and that is your only job.
Payment Models
Most affiliate programs depend on a Cost Per Acquisition basis. When a customer deposits in the broker’s account, you will then earn the commission based on the percentage that you finalized in the beginning. Several platforms have a flat commission fee as well that goes up to $600.
An alternative approach to this is the Revshare model, where the affiliate and client has a share in the profit and loss for as long as they are both in a contract.
Most of the brokers are very generous with payments, so you won’t have any issues in finding good payments if your content and website are worth visiting.
How Much Money Can I Make with Forex Trading Affiliate Marketing
One of the most asked questions is this. Like literally the most searched question about forex affiliate marketing is how much money can one earn?
Therefore, we will address this concern of yours in detail here. Below is a screenshot of some global affiliate networks, and the money that they earn every month. Even though the screenshot is self-sufficient in explaining the worth of the niche, we still have much more to talk about.
According to a survey by The Triennial Central Bank, financial trading was worth $5 trillion in 2016. This year the numbers have hit a new high with 6.6 trillion dollars a day in 2020. That’s a huge figure, especially when a massive sum of it is from the affiliates.
Scott is an affiliate for the forex marketing and he says that he earns an average of $9000 a month. He sends approximately 93 leads to the broker, out of which almost 23 of them successfully convert into customers, earning him this amount.
According to him, he uses a mix of relevant and useful content, which is never the same, and Pay-Per-Click ads for his website. The program that he partnered with pays him 400 dollars for one client.
Even though we have only quoted one example here, millions like him are earning money online with forex and using the same methods.
Numerous other programs are ready to pay you anywhere between 400 to 1000 dollars per customer in exchange for quality leads and high conversion rates. This point brings us to our next heading, which is a very important thing to discuss.
What to Look For in a Forex Affiliate Program
Think of all the brokers that you plan on working with as your business partners, rather than your clients. This way you will put in much more thought while selecting them. It is crucial to remember that you must not fall for the first program that you come across on the internet. It is vital to find the perfect match.
There are millions of programs out there and doing some research on them would prove to be beneficial in the long run.
The first thing that you need to keep in mind while selecting a program is the audience that they are looking to attract and whether they fall in your GEOs or not. Working with a partner who doesn’t cater to the same users as you will only result in disappointment for both of you later on.
Always remember that you are working for the users, therefore, your content should attract them. Things like one-step sign-up and email rewards are usually enough to persuade users to sign up.
Next up is the commission model. You will find quite a lot of programs that offer competitive rates, but not all of them would have the same conversion percentage. The example that we discussed above, Scott said that the program that he works for has an almost 25% conversion rate, which is honestly an amazing place to start.
Other factors that you need to consider are high-quality marketing material that the company is providing you with. Their banners, email templates, widgets, and social media images that you can use with ease are huge asset.
Furthermore, they need to provide assistance 24 by 7 in your native language, so that it is easier to communicate, for both you and your audience. This paired with access to the partner portal will enable you to see a fast return on your investment.
Finally, your audience trusts you and puts their money to use by taking your word seriously. Therefore, ensure that the trading platform has the best offers and access to a wide range of financial instruments.
Case Studies
No matter what the question is, real-life examples are the true hero that helps us finally take the leap of faith. We completely understand this and this is why we have a case study for you with an inspiring story.
Campbell is a former salesperson from a clothing store in New Zealand. Almost four years ago, he quit his unsatisfying job and started working for himself with an affiliate program. This guy makes 10 000 USD per month in the forex industry, which is one of the most profitable niches.
Around four years ago he met with an account manager from an advertising agency, who introduced him to his friend, who made a million dollars after leaving his day job. After listening to the story, Campbell started searching about how affiliate marketing works.
Campbell took a course for $1 000 and spent the next 6 months learning about it. However, one day he got to thinking that courses are no good for him, and he took it to Google to learn more.
To his surprise, he found millions of programs that are offering an astonishing amount of profits on single sales. He went on building a website and made his first affiliate networking platform. He spent his next six months working on the website, however, it was of no use.
Six months later, his son was born. He was extremely stressed as he had a new responsibility, and no way to earn any money.
This newfound motivation made him extremely responsible and he built his main website, Forex Reviews Rated. It has been three years since he is earning through it and not a day goes by when he doesn’t get a unique visitor.
According to him, he gets about 15 000 to 18 000 visitors a month, out of which 8 000 to 9 000 are new visitors. Most of his traffic comes from search engines that make up for 73% of his total visitors. The remaining is split between directs and referrals from his old clients.
One thing that our first case study and this one has in common is the emailing list. Both of these affiliates built an emailing list, which spiked their traffic and revenue both. Campbell’s website generates a whopping total of $5 000 to $10 000 each month from a variety of affiliate commissions.
Conclusion
Forex affiliate marketing can act as your map to success if you do it with full dedication. Establish yourself as an authority, extend it globally by reviewing trading tools and platforms, and don’t forget to curate an emailing list.
Employ the best possible strategies to promote your platform and use them to divert more traffic to your affiliate partners. Always remember that there are no shortcuts for success, and you don’t even need them if you fully commit to your career.
