How to find the best financial affiliate programs for online forex and currency trading.
Every business and industry have affiliate programs, but only some are as profitable as financial affiliate programs promoting online forex and currency trading. Partner programs run by online brokers pay exceptionally high commissions for new traders, and skilled affiliates can easily aim for six-figure incomes.
This blog post will give you a valuable overview of the world of currency trading and everything you need to know about finding the best financial affiliate programs. We’ll also explain selecting the right commission plan for your financial goals. Following the basic rules of promoting currency trading could earn your first commissions in just days!
Online Currency Trading: A Financial Affiliates Guide
The global currency markets are massive! They account for trillions of dollars in daily trading volume, and some markets operate every day of the year.
National governments and their central banks, significant hedge funds, and other institutional investors still dominate the forex (FX) markets. Still, online brokers like AvaTrade allow private traders access to secure currency trading via a range of electronic trading platforms.
Every national currency, e.g., the US dollar, the British pound, or the Japanese yen, constantly changes in value. Forex traders seek to profit from changes in currency values by buying and selling currencies on the open market.
Traders study the relative values between currencies and try to anticipate changes based on upcoming market events, geopolitical events, the overall economic climate – and their knowledge of how currencies performed in the past.
There are many complexities, but the underlying goal is to buy one currency cheaply and resell it at a profit.
Forex trading follows the same principles as changing money when you visit another country. The amount of the local currency you’ll get in exchange for your own money will depend on the current exchange rate. The goal is to buy foreign currency cheaply and maximize your spending power.
Events that can Affect Currency Prices
All kinds of global events and market forces influence the value of currencies. Often governments and central banks will deliberately manipulate their currency values as part of national economic policy, e.g., to make their exports cheaper or to stimulate growth.
- An economic indicator like a Fed interest rate announcement or NFP employment figures.
- A political crisis or an event like a war in a particular country can drive down the value of its national currency.
- Major changes to oil or gold prices can affect the value of commodity-linked currencies like the Canadian dollar.
5 Most Traded Currency Pairs
When currencies are traded, they are matched in pairs. These pairs are standard across all international markets; anybody can trade them. There are dozens of forex currency pairs, but these are the five most traded currency pairs.
If the EUR/USD is quoted at 1.0763, 1 euro buys $1.07. If the euro strengthens to EURUSD 1.1063, a euro will buy $1.10. When traders buy large lots of currencies, these minor differences can add up to significant profits. Most traders focus on a narrow range of ‘majors’ or major currencies.
How to Make Money with Financial Affiliate Programs
The basic principles of currency trading are pretty straightforward. It’s not surprising that millions worldwide want to trade forex online and try to claim their share of the potentially available profits.
Online brokers compete to sign up new traders (and existing traders who want a better deal). Their financial affiliate programs are happy to pay extremely high commissions to affiliates who can bring them, new traders. Any good partner program is always open to suggestions about attracting new traders, although their primary business model is built around six core types of affiliate partners.
6 Types of Affiliate Partners
- Online Affiliate
- Introducing Broker
- Money Manager
- Trading Academy
- Call Center
- Service Provider
Almost all new financial affiliates will be online affiliates. If you have a website, a blog, or a visible presence on social media, you can immediately begin to drive traffic and earn commissions as an online affiliate.
Your partner program will give you unique affiliate links to add to your online content and automatically track and record all traffic that clicks on those links. Every time one of those clicks converts to a live trader, i.e., opens an account, deposits money, and trades, you’ll automatically earn a commission. You can track all link activity – and see your earnings accumulate – via your affiliate dashboard.
Learn more about earning commissions as an Introducing Broker
How to Find the Best Financial Affiliate Program
The first challenge for anybody who wants to make money as a Forex affiliate is to find a reliable, experienced, and trustworthy financial affiliate program that promotes a regulated online broker. If you’re serious about earning high commissions long-term, working with licensed and regulated professionals who are well-established as financial service providers are vital.
Currency trading is a big business. Online forex trading is a high-risk/high-return proposition that can generate very high profits quickly. There’s enormous public demand for online forex trading, and not all online brokers are interested in providing clients with honest service or fair trading conditions.
Various systems of official regulation exist to enforce high standards amongst online brokers and to protect the interests of traders. These include the Central Bank of Ireland, the Australian Securities and Investment Commission, the ADGM (United Arab Emirates), and the FSA (Japan).
The Advantages of Regulation for Forex Affiliates
There are significant advantages for forex broker affiliates who sign up with partner programs promoting regulated brokers. Regulated brokers aim to retain their traders rather than ‘churning’ them. They know the only way to keep experienced and high-value traders is to treat them respectfully.
In practical terms, that means providing exact market prices for assets, competitive trading terms, honoring payments of profits, and facilitating easy withdrawals from trading accounts. When currency traders stay with brokers, affiliates with RevShare commission plans will continue to earn a percentage of their trading volume.
When online brokers are run on an honest and open basis, their partner programs invariably are too. The best financial affiliate programs always offer their partners a choice of commission plans and allow them to renegotiate at any time. They also provide practical assistance in the form of free marketing materials (ideally unique, high-converting materials) and keep affiliates up to date with relevant broker news and promotions.
There is an ongoing danger from dishonest partner programs that promote unregulated online brokers. Their typical opening gambit is to entice new partners with unrealistically high CPA offers. They then quote the small print to claim that the deal was a short-term introductory offer or only applied to certain types of traffic.
These fly-by-night operations exist to make a quick buck from the unwary and are just as happy to rip off their affiliate partners as their traders. The rule of thumb is that if an offer seems too good to be true – it is too good to be true. If you haven’t heard of a broker before, and they aren’t regulated (regulated as opposed to registered), it’s better to avoid them entirely.
Get Started with a World Class Partner Program
AvaPartner is one of the world’s best-known and most respected financial affiliate programs. It has paid an astonishing $300,000,000 to its affiliate partners and offers highly competitive commission plans. A significant advantage of working with AvaPartner is that the program promotes AvaTrade. The broker is regulated in several jurisdictions worldwide and features some of the most prestigious and sought-after trading platforms and a significant asset index.
When you work with AvaPartner, you’re not limited to promoting currency trading. AvaTrade also offers CFD trading on cryptocurrencies and assets as diverse as bonds, ETFs, and options, not to mention stocks and commodities. You can drive traffic and earn commissions from various sources beyond conventional forex marketing.
If you have a website, write blog posts, or are active on social media, you could be one click away from a new and highly profitable income stream as an AvaPartner affiliate.