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If you want to supplement your income, becoming a forex or trading affiliate is an excellent career move. It will take some time and effort before you can ditch your regular 9 to 5, but choosing the best trading affiliate program is a terrific head start.
There are many brokers and trading affiliate programs, so how can you sift through all of the choices and select one that is going to help you bring in the most referrals and make a lot of money in commissions? A partnership is not something to take lightly. Research forex and trading affiliate programs, think about your goals and take the time to find the best fit.
If you like promoting things online without having to delve into all of the details of trading, becoming a trading affiliate may be the ideal career path. You may have a lot of followers on Facebook or Instagram and enjoy interacting with people online. This can help you produce some great commissions if you have partnered with the right affiliate program!.
We have outlined in this blog post the underlying factors that determine affiliate marketing business success, particularly for the Forex and industry niche-where the goal is to encourage people who express interest in trading to sign up with the broker you are partnering with. But hold on a moment, first things first! You must do the first step correctly. Otherwise, all your hard work and investment will be for nothing. And the first step is finding the right partnership.
Here are some pro tips for finding the best Trading Affiliate Programs
#1 Select the Right Broker
A broker is going to be your partner. You wouldn’t think of starting a business with a partner you weren’t sure about. You would have to know about their experience, what people think of them, their qualifications before you would even think of forging a partnership. Right? Well here too, the same is true of a broker. There are many brokers and affiliate trading programs to choose from, but selecting carefully is essential. Here are some things to look for:
- Is the broker is regulated
- They have mainly positive reviews
- They have been around for a while
- They have a reliable trading affiliate program
Every broker on your list should be regulated, Period. There is no benefit to partnering with a broker who doesn’t have an up-to-date license issued by a reliable regulatory authority.
Keep in mind that as a trading or forex affiliate, you will be representing your broker partner and bringing referrals to them. You want to assure your referrals that they are working with a reliable broker who will be committed to helping them make significant returns on their investments. Finding not just a quality broker but an outstanding one is essential to affiliate marketing success.
#2 Flexible Commission Plans
Affiliates make money through commissions, so the structure of commissions is an important consideration when you choose a trading affiliate program. There are two main categories of commissions for affiliates:
- CPA or Cost Per Acquisition
- RevShare or Revenue Sharing
CPA means that you get a fee every time you bring a new referral who signs up with the broker you are partnering with. This plan allows you to make money based on the number of referrals you make, and you will get paid per referral in a one-time payment.
In a RevShare program, the affiliate is given a percentage of every customer transaction. This means getting paid long-term, and the amount you make depends on the success of the broker and the portfolio.
So which commission structure should you choose? This depends on the type of trading affiliate business you want to run, what your goals are, the broker you are partnering with, and your referrals’ trading approach.
For instance, If you are focused mainly on marketing, aim to make the maximum number of referrals, and are not that concerned with how often the referrals trade, CPA may be the best solution. Additionally, you will get the same fee regardless of whether the clients stay with the broker long-term or just make some quick trades.
RevShare makes sense if you have more invested in the broker you are partnering with and in the performance of the clients’ portfolios even after they have signed up with the broker. If your broker partner has a stellar reputation and clients who enjoy outsized returns, a RevShare commissions structure may be more lucrative.
Generally, forex and trading affiliates tend to prefer CPAs because if their focus is on marketing and converting traffic into leads and referrals, they may want to get paid all at once when a referral signs up. They may not want their level of pay connected to the performance of the broker or the trades.
Introducing brokers often opt for RevShare, because unlike a trading affiliate, they have ongoing communications with referrals, answer questions and give advice. Therefore, they have more invested in the amount of trading activity that occurs and will want to benefit through RevShare. However, RevShare may also appeal to affiliates who have confidence in their broker partner.
What is the best option? Choose a trading affiliate program like AvaPartner that gives you a choice! AvaPartner affiliate program offers both CPA and RevShare plans and Hybrid, and they offer the most customized solutions, so you can decide what is best for your affiliate business.
#3 Support and Tools
Any good trading affiliate program should offer you the support and tools needed to succeed! Look for a broker-partner that provides marketing materials, support, and tools for feedback and transparent reporting.
The best way to bring referrals to your partner broker is to create a seamless integration between your site and pages and the broker’s site. This means showing engaging graphics that make high converting landing pages. A trading affiliate program should include such marketing materials that are attractive, engaging, and consistent. AvaPartner gives its affiliate partners access to:
- Expertly crafted landing pages
- Banners
- Mailers
- Widgets
- Embeddable promotional materials
Also, you should expect prompt, attentive support from a forex or broker partner. Do your phone calls or messages go unanswered for days at a time? Are your questions not really answered when you do get to talk to an actual person? If this has already happened during the exploratory phase, cross these brokers off your list. Only partner with brokers who prioritize communication with affiliates is worth partnering with.
#4 How Will Your Referrals Benefit?
Success as a trading affiliate depends on referrals who are glad they signed up with the broker you are partnered with. Your marketing efforts will bear the fruit if your referrals talk up your broker with their friends on social media and leave glowing reviews that encourage others to sign up.
Evaluating a trading affiliate program includes paying careful attention to the broker’s unique offerings. They should include basics like attentive client service and support, practice trading platforms, and tools that make trading convenient, enjoyable, and profitable.
For example, AvaPartner offers the following unique apps that allow clients to
- Trade on the go (AvaTradeGO)
- Recover funds from unsuccessful trades and offer protection (AvaProtect™)
- Benefit from the world’s most powerful platform (MetaTrader 4)
- Make trading more convenient with autotrading (MetaTrader 5)
- Succeed at trading Vanilla Options (AvaOptions)
Partnering with a broker who invests in their clients ultimately translates into more referrals for you and, therefore, more commissions!
Choose a Trading Affiliate Program That Will Work for You!
Think of the process of selecting a trading affiliate program as any other business partnership and choose carefully. Ensure the broker is regulated and has a solid reputation for delivering healthy returns for clients.
AvaPartner has an outstanding trading affiliate program that supports its affiliates, offers advanced marketing materials and tools and flexible commission plans, including CPA and RevShare, and customized commission structures to meet your business goals. Talk to AvaPartner today for more details about its trading affiliate program, and get started launching a profitable new career!