Do you want to be a trading affiliate? If so, you are embarking on a profitable and fulfilling career. A trading affiliate finds potential clients called referrals for brokerages and earns a commission based on the number of referrals or gets a fee per transaction, depending on the commission plan. It is an extremely lucrative and rewarding career, especially if you are interested in the idea of trading and enjoy online marketing.
So, read on! But first things first, you will need to choose among the many trading affiliate programs. The number of brokerages can seem overwhelming at first, but there are ways to pare down the list.
Below are some expert tips on how to find the best partners who can help you succeed by providing you with the right tools, customized business solutions, as well as promotional material that will help you generate solid commissions and build a reputation.
So, let’s get started!
Reputable and Complies with Regulations
You want to send your referrals to a brokerage with a proven track record of success, a strong reputation in the industry and that complies with all regulations, a regulated broker. This will give you and your referrals peace of mind and success at trading.
It is not worth it to cut corners or go with a hunch that a certain brokerage is alright without investigating further. A partnership is a crucial life decision since it will reflect on your own reputation, which we will explain and discuss in this post. So look into potential partners carefully, and take the time to investigate the brokerage and understand who stands behind the partnership. In the long run, partnering with an unregulated broker can cost you and your referrals, so don’t take the risk!
First, look at review sites and see what people are saying about the brokerage. Do some research online and check what industry experts and clients consider top-rated brokerages that provide the most value with excellent service. Make a list of the best brokerages that suit your needs and keep narrowing down your list.
Then look at the broker’s credentials, testimonies and confirm that it is regulated. A trading affiliate should ensure that brokers they are promoting are registered with the financial regulatory authorities of their countries and that they are licensed to trade in multiple regions.
On review sites, clients often list regulation as a top priority, so make it yours as well. Working with an unregulated broker will mean fewer referrals and a lack of reliability since unregulated brokers can act as they see fit without complying with rules. Choose an honest, reliable broker to partner with, and you have made the most important first step which will set your affiliate marketing business on the right track from the start.
When it comes to trading affiliate programs, commissions are the name of the game. Therefore, it is essential to familiarize yourself with the various types of commission plans to decide which is right for you. Ideally, you will want to choose a trading affiliate program that offers flexibility in commission types.
As a trading affiliate, you may be deciding between the following commission structures:
- CPA (Cost Per Acquisition)
- RevShare (Revenue Sharing)
A CPA or Cost Per Acquisition is the fee the affiliate receives when a referral signs up with a broker, opens an account, and starts trading. This fee varies according to where the referral is located as well as other factors. Depending on the plan, the fee may be paid only when the referral has deposited money into the brokerage account or has completed an initial trade.
CPA commission plans vary in detail including requirements, commission rates, and minimum deposit before the one-time fee is paid to the affiliate. Compare offerings and plans from various brokers to determine what is most convenient for you.
Then there is RevShare
RevShare is a commission structure that gives the trading affiliate a commission on every transaction made by the referral rather than providing a one-time fee when a client signs up and starts trading. This commission is calculated through net spreads, or spreads minus bonuses. In other words, you profit for as long as your referrals remain clients of the brokerage. This is amazing if your referrals make frequent trades because you will get paid per transaction.
So which option is better, CPA or RevShare?
This decision depends on what your priorities are and your type of business. Are you sending lots of traffic and don’t know your referrals or are your referrals also clients of yours and listen to your advice? Or perhaps you are signing up referrals who are long term investors or their trading style is a buy and hold over time, in this case, for example, a CPA structure might be a better option since it is a one-time fee. However, your referrals prefer executing trades on a regular basis, then RevShare might be the best option.
When you are starting out, it may not seem clear what the best choice is. You may have a mix of clients/referrals, which is why it’s important to partner with a brokerage that can offer you flexible commission plans catered to your type of business, short and long term business objectives, and your referrals’ trading styles!
Tools and Platforms
Your referrals want the most advanced and convenient tools when they trade!! Make sure your trading affiliate program provides innovative apps and other solutions that allow trading anytime, from anywhere, and from a mobile or any device. Familiarize yourself with platforms and tools that provide convenience, protection, and state-of-the-art automated trading.
Here are some examples from AvaTrade:
- Trade from anywhere and anytime with your mobile phone (AvaTradeGO)
- Go for power with this ultimate trading platform (MetaTrader 4)
- Try auto trading systems for speed and convenience with (MetaTrader 5)
- Trade options with (AvaOptions)
Your referrals want up-to-the-minute information and tools that will execute trades in seconds, day or night. A brokerage should provide tools with advanced technology that updates data instantly and makes it easier even for novice traders to see a significant return on their investments.
The fact is that many of your referrals will be trading as a way to make extra money. They might not have vast trading experience or be knowledgeable about the markets. They might also want to make some quick trades on the way to work. These tools make trading convenient for anyone whether the referral is an experienced trader with years of investing and trading knowledge or is still in school and trying to earn a few bucks.
Whether you are new to trading affiliate programs or have been working in the field for a while, it is useful to remember that you are not alone. This statement can seem reassuring, but the reality is other trading affiliates are also trying to get noticed. This means developing a marketing edge will help you establish your name as a trading affiliate!
Like in any other business, the right marketing strategies are the best way to drum up business. This means using online methods such as social media marketing and content that will attract prospective referrals. If you have winning and proven marketing techniques or methods already that work, well then stick with those, but in any case you can save a lot of time, effort, and money if you join a program that provides marketing materials
AvaPartner, for example, offers its affiliates with a high converting marketing and promotional material that can ensure your success. With our team that offers expert affiliate support and its design team, you’ll receive these amazing materials:
- Landing Pages
Landing pages that are attractive and make an impression can make all the difference between visitors moving on or signing up. There is no need to be a design wizard since the landing pages are elegant, easy to use, and ready to go. Striking banners will also give visitors the information they need to take the next step. Web widgets make your site convenient and can drive conversions by providing user-friendly services.
It is vital you receive the support you need to succeed as an affiliate marketer. So, before signing up with a brokerage, make a note of their customer support services.
Do they respond promptly when you send an email or text? Do they answer the phone? Can you receive service in your language? Are their answers consistent and clear? Does the support staff sound like they are on the same page?
One way to ensure reliable support is if the trading affiliate program offers a dedicated personal account manager. AvaPartner, for example, offers its affiliates with one-on-one service that demonstrates they understand your needs and help you increase referrals and commissions.
Tracking and Reporting
The right brokerage will provide you with a trading affiliate account that will enable you to keep track of your progress. Ideally, you will be given a dashboard with instant updates on a number of referred clients, click rates, impressions, traffic, and data on your referral links.
Data is the key to winning at marketing. Tracking and reporting tools provide data that will help you identify problem areas in your marketing that need upgrading and to focus on areas that are working for you and bringing new referrals. You know a brokerage is truly a partner when this data is shared, and you can gain visibility into what methods are working the best.
Take the Time to Make the Right Choice
Research your options carefully before choosing a broker to partner with. AvaPartner offers everything you are looking for, with its exceptional trading affiliate program that offers flexible commission plans and its highly regulated broker AvaTrade, exceptional customer support, advanced tools, and high converting marketing materials you have the potential to see your commissions skyrocket!