The significance of introducing brokers and affiliates in the marketing system of forex affiliate networks cannot be overemphasized. Some forex brokers generate more than 50% of their earnings from referrals. However, for any brokerage to build and maintain their own forex affiliate network, which includes linking up with all the affiliates, negotiating the terms and conditions, verifying the generated traffic, processing payments, and more can be resource-intensive. This is why so many brokers outsource their affiliate programs and work with forex affiliate networks rather than having to develop and maintain their own independent forex affiliate program.
One of the best fx affiliate networks you should choose is Algo-Affiliates. However, before we talk more about this reliable network, we want to enlighten you on what forex affiliate networks are, and things you should know or consider before choosing one. Please continue reading to widen your knowledge in this regard.
What Does Forex Affiliation Mean?
Affiliation is a marketing program whereby an individual or organization brings potential clients to a specific business in return for a reward, (mostly financial). Most times, this is achieved through links, banners, recommendations, social media, and other marketing collateral and channels.
Forex affiliates invite/introduce potential traders to join an online forex broker. This is possible when this potential trader taps on the banner or link that an affiliate has provided and then goes on to register with the broker to trade.
Compensation Methods for Forex Affiliates
As mentioned earlier, forex affiliates are given compensation for referrals. This can come in various forms as follows:
Cost Per Acquisition: This compensation is given anytime a referred client makes a deposit or creates a Live trading account. Per client, the industry-standard ranges from $150 to $350 and depending on the amount deposited, this could go higher.
Rebates: Affiliates get some compensation for volumes made by their clients. For example, an affiliate is rewarded with 1 pip for each standard lot traded by his client. Depending on the broker, 0.5 to 2 pips is the industry standard.
Cost Per Lead: The affiliate will be compensated anytime a trader referred by you gives his/her details on the landing page of the broker. Some brokers even offer this when a referred trader signs up through a demo account.
Revenue Sharing: This compensation is the most interesting type. Asides from referrals, market makers earn profits from clients’ losses, and some affiliate programs offer part of the revenues generated from clients.
What Are the Features of Reliable Forex Affiliate Networks?
It is a fact that most affiliates prefer operating in the affiliate spectrum of the financial market. This is because this niche is viewed as a potential way of earning more profits. Asides from this, there are countless other positive features that attract affiliates. Let’s consider a few of them:
In most forex affiliate networks, as long as the customers you bring onboard keep trading and funding their accounts, you can continue earning, depending on the type of commission model.
You can earn substantially more than most other affiliate niches. If forex affiliation is well performed, you can earn huge commissions. It is not uncommon for super affiliates to earn 6-7 figure commissions a year.
Enough Room for Trying Out and Experimenting with New Tactics and Methods
As you experiment with new things, you will have more opportunities to customize your sales funnel to suit your needs and target your audience better. In turn, this ensures steady profits for you over a long period compared to other niches.
You Only Need a Little Investment to Get Started
The affiliate only needs to invest a little to begin. Forex affiliate programs normally provide affiliates with ready-made and adequate promotional materials.
Relevant Materials are Readily Available
As forex trading becomes more popular, more relevant materials have been in abundance. This helps prospective traders in having access to these success stories, clever tactics, smart tips, and strategies, and to use them wisely.
How to Choose the Best Forex Affiliate Network for You
When going into any business partnership, one common fear is getting tricked to pay more than you will receive. This is why we will be revealing those issues you must attend to, to help you make the best decision.
Consider the Commission of the Forex Affiliate Network
One question you must ask before choosing any FX affiliate network is to know if you are going to earn some good cash through it. If the answer to this question is a positive one, then you can make the next positive step. One issue is that the answer isn’t usually straightforward because each forex affiliate network has its commission levels and types, and payment structures, thereby making comparisons quite difficult.
Generally, we expect that for every new trader referred, you should earn about $250. However, the true height of this commission depends on the initial amount deposited by the trader and the lots they have traded. The other crucial factor that should be considered is the conversion rate of the fx affiliate network. Promises of $1,000 per trader are irrelevant if the conversion rate is only 1%.
What About the Transparency of the FX Affiliate Network?
Another issue with the popularity and massive growth of these referral programs is the crowded nature of the market, which has made it very difficult to tell which sites and brokers are legit and honest, and those which are shady and not trustworthy.
This is why it is very necessary to scrutinize the network carefully and properly and make sure whichever one you go for, offers a transparent program. Opt for programs that allow you to have full control and access to all the necessary data. In this way, you can track how much you earn and monitor your progress.
Consider the Ease of New Customers Signups
Make sure that whatever forex affiliate network you choose is ranked high regarding new sign-ups and onboarding. The process has to be simple, straightforward, seamless, clear, and smooth. It should have a user-friendly interface and enhance the experience of users.
Does this Forex Affiliate Network Have a Reputable Name?
The affiliate network you wish to partner with must have a good reputation. This is very necessary for your endeavor because anything other than this will make things difficult for you in a bid to promote a network that already has a tarnished reputation. You can search both online and offline to determine how dependable, respected, or renowned they are.
Is It Regulated or Unregulated?
The regulatory standards that govern the forex market, and in particular forex brokers continue to evolve as the market experiences progress and growth. There is every tendency that it will have stricter rules, leading to stricter trading conditions. In reality, this means that brokers that are regulated will face hefty fines and may lose their licenses if they in any way deviate from their offering.
Unregulated brokers shouldn’t be regarded as scammers all because they aren’t regulated. The fact is, while regulated brokers may not be flexible as a result of the regulatory framework that must be adhered to, some unregulated brokers can provide a protective and safe environment to their affiliates and traders, still offering excellent benefits. So don’t just focus on if they are regulated or not. Get to know their ethos and actual intentions, what they offer, and how it serves and matches the aspirations and needs of a trader or client.
Now, it is not about which broker is regulated or not, but which of them can offer the best of the two worlds. You must be able to market flexibly with a higher earning potential. Also, security and safety must not be forgotten.
Will this FX Affiliate Network Offer Some Marketing Help?
The challenge of participating in the forex affiliate network is a marketing one. Most people that serve as affiliate marketers are not marketers by profession, neither have they got any sort of training. For those with little experience, they will agree that to be successful in forex affiliate marketing is time-consuming and painstaking, but when mastered, it is extremely rewarding.
The majority of fx affiliate networks know well that their marketers face different challenges, and so they are willing to assist in ensuring that the affiliate achieves. While it might sound clichéd, the more the affiliate achieves, the more the network achieves, so it’s in their interest to help as much as they can. This is one good reason why the best forex affiliate networks usually offer their affiliates ready-made materials for marketing, and possibly even templates that can be repurposed, which includes widgets, banners, social media headers, and more.
Before selecting the right forex affiliate network to partner with, it will be smart of you to check the materials and help they give to their affiliates. This will tell you if their offering works with your aspirations and needs.
Can You Keep Track of Your ROI Easily?
As mentioned earlier, choosing a fully transparent fx affiliate network will give you easy access to your data and performance as an affiliate. So, choose a forex network that provides a user-friendly, and dedicated platform that offers you the best tools possible to monitor how you perform. Also, you should be able to check on your signups’ quality as well as the ROI you have attained.
To achieve this easily, choose an affiliate network that offers a partner portal via which you will be given full access to your dashboard. This will help you anytime you wish to draw detailed and full reports, analytics, and statistics.
Is there Any Other Support Offered by the Forex Affiliate Network?
No matter how reliable the network’s portal, platform, or system may be, something may go wrong. When this happens, you may have to reach the network to ask a question or request that the problem is resolved.
Choose a forex affiliate network that is always there to assist you, and have a dedicated support team to answer your questions, resolve issues, or offer support. Their support team should also be knowledgeable, polite, and can communicate in different languages. This will allow you to reach a higher number of potential signups.
Is their Trading Platform Any Good?
One very important fact that is usually forgotten in the specificities and details of different affiliate forex networks is that what you will be selling eventually will be the trading platform of the broker. This is because you will do your best to convince potential traders to trust that broker, open an account, and make a deposit through them.
However, if the trading platform doesn’t meet the demands and needs of the traders, eventually, what you’ve been fighting hard to promote is ultimately unsellable or is well flawed. While searching for the best forex affiliate partner, choose a platform that is credible, robust, can be navigated easily, and intuitive for seamless trading.
Will This Affiliate Program Work for You?
This is one important question to answer when choosing the best forex affiliate network. This involves choosing the best for you, the most suitable, and one that matches your aspirations and meets your needs while working as an affiliate.
Equip yourself with the details of each forex affiliate network by being sure of its payment terms and structure. This will help you reach accurate conclusions and draw credible comparisons. Always ask for what you prefer.
Why You Should Choose Algo-Affiliates
Algo-Affiliates offers a unique platform that assists participants of the network in driving traffic, conversions, and monetization. Aside from this, they provide great tools to conduct your marketing campaigns. Algo-Affiliates offers appealing services for merchants who wish to advertise their products to bring in new clients. They also provide excellent service for affiliates, who participate in the network to bring in new customers to receive commissions.
Cutting-edge technology: Using cutting-edge technology, Algo-Affiliates has a robust and feature-rich portal that is packed with proven and optimized marketing collateral.
Expert Support 24/7: Algo-Affiliates offers expert support 24/7. This is to ensure that those that need answers to questions get them. You are sure to get your requests attended to at any time of the day.
On-time payments: Affiliates can have peace of mind that they will always be paid their commissions on time.
Funnel Monetization & Optimization: With Algo Affiliates, you can promote with great confidence. This is because you know that all actions are reported on and tracked accurately.
By now, you should have gained much knowledge about forex affiliate networks. One of these reliable forex affiliate networks is Algo-Affiliates. This company is reputable and it offers its customers fantastic commissions. You can never go wrong with joining this fx network because there are lots of benefits for you to enjoy. Join Algo-Affiliates today to convert your traffic into great commissions!