The first half of 2021 saw a significant boom in CFD forex trading. Probably due to people spending more time online during lockdowns. Private financial worries – and concerns about the economy – also encouraged many new traders to sign up with online brokers. There are still major public doubts about the global financial system. First-time traders are reporting that they want to take greater personal responsibility for their financial well-being.
This new enthusiasm for online forex trading has been a significant boon for forex affiliates. There’s never been a better time to promote successful forex broker affiliate programs and cash in on their high paying commission plans. With the broader economic uncertainty set to continue, the autumn and winter of 2021 will likely deliver high profits for forex affiliates.
How to Become a Successful Forex Affiliate
There are three basic rules for anybody who wants to earn high commissions on a long-term basis as a forex affiliate. If you follow these rules, you’ll have a rock-solid foundation for your business. You’ll then be able to climb as high as your natural ambition and talent will take you!
The first rule of becoming a successful forex affiliate is to think big and set ambitious goals. Forex affiliate work is one of the few fields where someone with no formal qualifications can make a six-figure monthly income as their own boss. Major forex affiliate programs expect to pay out tens of millions of dollars every year for quality traffic. The money is waiting to be earned!
The second rule of becoming a successful forex affiliate is to sign up with the right affiliate partner program. Work with unregulated amateurs or scam brokers. You’ll earn at a fraction of your true potential and might not even receive all your commissions. It’s vital to join an affiliate program that promotes a fully regulated and well-established legitimate brokerage. We’ll talk more about regulation later in the blog post.
The third rule of becoming a successful forex affiliate is to work systematically and build a powerful presence across a wide variety of marketing channels. Your goal is to operate an attractive website and get your links out across every viable social media channel. As a forex affiliate, you’re both a strategist who works on a marketing plan and an opportunist who exploits financial news events as they occur.
What is Forex Regulation, and why does it Matter to me?
The internet is a bit like the Wild West of the financial industry. Anybody can pop up and present themselves as an online brokerage or financial service provider. If they want to rip off their clients, it’s tough to stop them. Anybody who’s been defrauded has little chance of getting their money back. How can you complain if you were cheated by a scam brokerage operated by a numbered shell company in the Caribbean via a server in Russia?
Recognized financial authorities regulate legitimate forex CFD brokers, including central banks or other national governing bodies. To gain regulatory approval, brokers must demonstrate that they abide by all local laws and codes of conduct. Regulators enforce uncompromising advertising standards and insist on full transparency about the financial risks of trading CFDs. If a trader has a dispute with their broker, they can usually appeal to the regulator.
Regulated brokers are legitimate businesses, subject to the rule of law. There are five main advantages for forex affiliates when they promote a regulated broker.
5 Good Reasons to Promote a Regulated Forex Broker
- Any clients you bring to the broker are more likely to stay there on a long-term basis – perhaps for years. Suppose your commission plan guarantees you a share of their trading volume. In that case, you’ll earn a regular income for that trader’s active period.
- Regulated brokers tend to have solid and reputable brands. They also have the best selection of trading platforms like MT4 and MT5 and quickly add new asset classes. It’s easier to produce quality marketing materials and engage with potential traffic on social media when you have something positive to promote.
- Regulated brokers have to have high liquidity and are subject to complete oversight. You won’t wake up one morning and find that a significant source of income has closed down or is in receivership. You can invest in building a secure lifetime partnership.
- Highly trained and very experienced professionals will run your partner program. They will have a generous budget and will pay you high commissions. They won’t try to brush you off with a basic ‘one hit’ CPA deal but will be happy to negotiate a tailored plan that encourages you to bring more high-volume traffic.
- You’ll be guaranteed full transparency and will be able to see click impressions and follow the performance of your traffic. You’ll know exactly how much you are earning and will be paid on time. You’ll also have access to unique marketing materials and practical help and advice. A top-quality partner program understands the concept of partnership; they want you to succeed.
What do I Need to Know about Forex Trading?
The beauty of being a forex affiliate is that you don’t have to be an expert trader to make money. Obviously, the more you know about currencies and the financial markets, the better. It depends on your marketing strategies and the level of personal engagement you plan to have with your traffic. Some online affiliates like to blur the lines between the online affiliate and money manager or introducing broker. Others rely on well-placed creatives to drive traffic.
At a minimum, you should practice trading on a free demo platform. Keep a forex glossary handy, consult an economic calendar when you plan each month’s campaigns, and read the financial press daily. If you don’t know the basics of the markets, you’ll miss lucrative opportunities. There are aspects of trading that are complex, but the underlying principles are simple.
You need to learn:
- Basic trading terminology
- Key (regularly occurring) financial events
- How to trade with an online trading platform
- The names and functions of trading tools
- The basics of risk management, e.g., stop loss and take profit
- The principles of leverage plus risks and benefits
- The basics of popular trading strategies
- How to open a broker account and deposit and withdraw money
You can pick up most of this basic knowledge in a couple of days. Beyond that, you need to know your site traffic. Who visits your website, their financial goals and ambitions, and their worries and concerns?
Once you know your traffic, you can pitch your marketing materials correctly. You can hire financial content writers, graphic designers, Google Ad freelancers or SEO advisers to build every element of your campaigns.
- Which Forex Affiliate Partner Program Should I Join?
If you’re serious about making money and earning high commissions from Day One, AvaPartner has everything you need to succeed. AvaPartner promotes AvaTrade, one of the world’s leading forex brokers, with over 15 years of experience as a financial service provider. AvaPartner is regulated by seven major regulatory bodies and offers brokerage services in almost 30 languages.
- Why is AvaTrade the Best Forex Broker to Promote?
AvaTrade is a powerful, high converting brand that is easy to promote. There are nine different trading platforms – including MT4, MT5 and AvaSocial social trading – and an array of sophisticated trading tools. AvaTrade has high liquidity and isn’t simply a forex brokerage. As a forex affiliate, you’ll be encouraged to promote their cryptocurrencies, stocks, commodities, indices, bonds, ETFs, and highly popular options. This will allow you to immediately diversify your campaigns and connect to an exponentially broader traffic base.
- How does AvaPartner Pay Forex Affiliates?
AvaPartner has won several industry awards in recent years for being the best affiliate partner program. They have also paid out a quarter of a billion dollars in commissions to satisfied partners over the years. You can choose from a lucrative CPA or Dynamic CPA plan or make money as a Master Affiliate or through RevShare. Sign up today and choose a commission plan that suits your financial goals!