Check out our top tip for marketing forex as a broker affiliate partner
Forex partner programs are paying high commissions for new forex traffic, and it’s a great time to optimise your forex marketing strategies. A proven marketing technique often overlooked is to promote forex pairs like the USD/JPY or the USD/CAD. Potential traders respond well to articles about high-profile assets and current market trends.
We’ll look closely at the main currency pairs (majors) in this blog post and focus on currently trending pairs. We’ll also explain how to use them in your forex marketing campaigns and create high-converting creatives and other powerful content for your affiliate links.
What Are Forex Currency Pairs?
If you plan to make money from forex marketing, you need to know the basics of online forex trading. Fortunately, you don’t need to be a financial expert, an economist – or even a trader – to be a successful forex affiliate. A good starting point is to brush up on your knowledge of currency pairs, which are the nuts and bolts of forex trading.
Every national currency like the US dollar, the British pound or the euro has an agreed abbreviation, e.g. USD, GBP or EUR. When traders buy and sell currencies, they use these abbreviations in pairs, e.g. USD/JPY or USD/CAD. Sometimes you’ll see them written without a forward slash, e.g. USDJPY.
Anybody who has travelled abroad and changed money will have seen forex currency pairs written with figures e.g. USDGBP 0.88. It means that one US dollar buys 0.88 British pounds or 88 pence. If you change $100, you’ll get ￡88. The exchange rate constantly fluctuates – if you go back an hour later and it’s quoted at USDGBP 0.89, you’ll get ￡89 for your $100.
Online forex traders aim to exploit changes in the relative values of currency pairs to make a profit. The underlying principle is simple: Buy cheaply and sell at a profit. Traders combine their knowledge of market conditions with technical and fundamental analysis to try and predict how a currency pair will perform.
Currency Pairs for Forex Marketing
If you plan to use currency pairs in your marketing campaigns (they are ideal for social media creatives), you have three basic options:
- Use the best known and most widely traded currencies, basically any combination of the USD, GBP, EUR and JPY.
- Use local currencies specific to your affiliate traffic, e.g. If your websites target UK traffic, it makes sense to focus on the British pound GBP. If you don’t already analyse your web traffic – you need to! The ability to pitch your message is vital. Something as simple as switching focus from the GBP to the JPY or CNY, and writing about Asian markets, could get more clicks and earn extra commissions from your partner program.
- Feature any currency currently in the news and attract significant public attention, mainly if there is a dramatic backstory like a war or a political crisis. It’s important to remember that you won’t just be targeting active forex traders. Some of your best leads may be newcomers who saw one of your social media posts and then clicked on an affiliate link.
The Majors – Or Most Traded Forex Pairs
There are over 180 tradeable national currencies, and between 25 – 30 currencies that technically count as majors. If you’re using currency pairs for marketing forex content, the top 7 majors will give you a wealth of material to work with.
Trending Now: USD/JPY and USD/CAD
Two currently trending currency pairs that are ideal for forex marketing creatives are the USD/JPY (US dollar and Japanese Yen) and the USD/CAD (Us dollar and Canadian dollar. They are both attracting a lot of market attention and headlines in the financial press. The US dollar is the world’s reserve currency and is a marketing brand in its own right!
Marketing Forex with the USD/JPY Pair
The USD/JPY currency pair has shown some major momentum over the past few days. It achieved the most significant movement since 1993 when it crossed the 144 line last week. To put the rise into perspective, the USD/JPY was trading at 109 just a year ago. The recent surge is partly due to the Bank of Japan’s (apparently) relaxed outlook and commitment to low-interest rates. In contrast, the Fed is hawkish, and another interest rate hike may be imminent. The currency pair’s value is also affected by US bond yields and whether investors perceive the Japanese Yen as a safe haven.
Marketing Forex with the USD/CAD Pair
The USD/CAD (US dollar and Canadian dollar) currency pair is also in the news. Traders are waiting for the Bank of Canada’s monetary policy decision and hoping to see some major movement on the forex pair. Investors saw the results of the previous interest rate hike of 100 basis points. The sharp rise in rates caused turmoil in the currency markets and a period of volatility in the USD/CAD. There’s speculation in investment circles that we’ll see a similar interest rate rise in the region of 75 basis points and more volatility. Forex traders will be hoping for fast profits on the USD/CAD currency pair.
If you don’t have a clear grasp of all the market forces and high-level economic decisions that are driving the currencies, don’t panic! It doesn’t matter if you don’t understand the background of the volatility of the USD/CAD and USD/JPY. If you want to create detailed articles about either currency pair, you can hire a reliable financial content writer or arrange for guest posts on your blog or website. It’s far more likely that you’ll be thinking about short and snappy creatives, particularly for your social media channels.
A great technique is to pose questions for the viewers, e.g. Canada vs America: Which Dollar is the Winner? Or, Can You Afford a Holiday in Japan this Winter? Your goal is to capture the viewer’s attention and intrigue them. You might post comments on US, Canada or Japan-related pages or forums that have no connection to forex. If someone follows up on the comment or clicks on your link, they’ll already be in your conversion funnel.
Subtle Forex Marketing Also Makes Money!
Many broker affiliate partners think of forex trading as an aggressive, high-powered form of online trading. They wrongly assume that they need brash and aggressive creatives that promise high profits in a short time. There are two potential problems with this approach. The first is that if you are promoting a regulated broker – and you should be – there will be clear rules about what you can say in your marketing materials. The second issue is that many sites, mainly social media sites, have their own rules and guidelines when it comes to marketing forex.
A more subtle approach to forex marketing can neatly avoid any regulatory issues and won’t see your posts deleted – or even get your account suspended. Focus on the background of a volatile currency pair and how changes in currency values might affect someone’s life. If one currency suddenly weakens against another, that country might become an attractive holiday destination.
The same logic applies to online shopping and luxury goods. If the US dollar crashes, it will be cheaper to order American goods online. Is Black Friday or Cyber Monday coming up? If so, post on shopping or electronic goods-related sites and pages. Adjust the hashtags and descriptions on your YouTube and TikTok, and get some new content. Once you have people’s attention, you can offer them links to your website or landing page and start marketing forex more directly.
The most successful forex affiliates are people who follow the news and keep a finger on the pulse across social media. You need to be able to upload high-converting creatives, good content and even just well-thought-out Tweets at short notice. Suppose your core website(s) are packed with educational material. In that case, with easy-to-read broker reviews with comparison tables and trading tutorials, you will be well placed to convert traffic and earn commissions.
Work Closely with Forex Marketing Experts
If you want free advice from genuine forex marketing experts, they are already at hand. Your partner program wants you to succeed and make money as a forex affiliate. They will keep you up to date with all the latest marketing opportunities in the form of broker news – new assets and trading platforms, the latest spreads and rollovers, and new fintech. They’ll also be happy to help you with free, high-converting marketing materials.
AvaPartner has over a decade of forex marketing experience and paid over $250 million in commissions to its partners. Sign up today and get started as a forex affiliate partner!