In the world of online marketing, one industry stands head and shoulders above all others in terms of potential for making serious money from home. You can earn a handsome second income or even launch a profitable full-time business without ever leaving the comfort of your living room, thanks to fiat currency trading. Not only is it possible, but with just a few basic skills, knowledge, and tips, you too could become a forex affiliate marketer.
What Is Forex Affiliate Marketing?
Forex affiliate marketing simply promotes software that automates foreign exchange trading on behalf of clients using margin accounts provided by brokers such as OctaFx . It may sound complicated, but actually, it’s very easy. If you have been an online marketer for any length of time, chances are you will already be familiar with how it works.
Forex affiliate marketers earn commissions promoting forex products in the form of downloadable ebooks, forex trading systems, signals and automated robots (bots), and even full-blown online trading academies. All you need to do is sign up to an ad network or marketing platforms such as Clickbank or PayDotCom, search for a suitable product within their inventory, create a promotional piece including an opt-in form, copy the code onto your website, blog, or social media page you manage, then sit back and watch the cash roll in.
Why Promote Forex?
There are many reasons to promote forex instead of other markets, but the main advantages are that trading is available 24/5, and there are no limits on how much you can earn. As a result, affiliates can expect to be paid more than promoting products for other companies such as Amazon or Apple. Nonetheless, it should be noted that not all forex affiliate marketers experience huge earnings right away. Indeed, the best ones tend to have full-time marketing jobs as well as an online business on the side.
Forex trading is a popular and growing market, with no elitism plaguing most financial markets. It’s also internet-based for those in this generation who are tech-savvy, which means they can invest from their computer or phone. With so many countries and cultures to cater towards, it’s not surprising that the affiliate marketing industry has become a truly global enterprise. Consider what opportunities are out there for you:
High Customer Value: A $50,000 account is considered small when it comes to forex trading. As such, the opportunity to sell add-ons and upsells is great.
High Commissions: This market has a higher-than-average commission potential with 60% or more commissions possible with forex affiliate marketing.
Global Market: The fact that there are no borders in finance means you can promote forex from anywhere on earth!
Extended Customer Lifetime: A forex affiliate campaign can get your customers for life since they are likely to renew their trading accounts with the broker after reaching their financial targets.
Accessibility: Because you can promote forex from anywhere, your earning potential is limited only by your imagination.
Prestige: For those who have been in online marketing for a while, promoting forex provides the opportunity to be seen as a true professional.
Worldwide Recognition: Anyone who has ever traded forex, or even those who simply watch the financial news, know-how big this marketplace is.
Increasing Potential Customers: As the market grows, so does the number of potential customers.
Skill Development: Getting started in forex trading is no joke. To be successful requires a high level of skill and knowledge, something that’s always attractive to prospects.
How To Get Started With Forex Affiliate Marketing
Getting started with forex affiliate marketing is easier than you might think, but there are several steps you should take to maximize your chances of success:
Choose A Single Focus: Although it’s true that anyone can promote any product related to forex as long as it has value and is relevant, focusing on just one or two areas will help. Two good examples of focus areas are the spot forex market and binary options. Of course, there are other choices, but these two markets tend to generate more commissions than others for most affiliates.
Choose A Niche: Although marketers can make money promoting forex products in general, research has revealed that concentrating on one or two types of products instead will boost your earnings. The best choice is either alternative (binary options) or spreads betting since both offer good commission rates.
Optimize Your Site: You won’t be able to get away with affiliate links alone; you need plenty of search engine-friendly content if you wish to reach the masses successfully.
Be Patient: Finally, remember that there will be peaks and troughs in revenue like any business venture you undertake. It’s called entrepreneurship for a reason!
How Forex Affiliate Marketing Works?
Forex affiliate marketing is a complex process that requires plenty of patience and elbow grease before working. First, like most affiliate programs, you will have a website that contains relevant content and links with your affiliate-tracking code from the company in question (in this case, forex). Then, every time someone clicks on one of those links and makes a purchase, your account gets credited for their business.
The usual affiliate marketing process looks as below:
Forex Affiliate Marketing Process:
Display Ads: The typical forex affiliate website will feature banner ads and text links throughout the site.
Client Clicks: When your readers click on one of these ads, it is recorded by the forex affiliate company.
Opens Account: When the click results in an account registration, it is recorded and attributed to you.
Affiliate Paid: When your account reaches a certain threshold, you are paid. Payouts are made via wire transfer, check, or other payment method depending on the program.
Once all of these steps have been completed successfully, you will start earning commissions at exactly the same moment as the person who referred them! The best part? You do no more work after that point since affiliates are paid quarterly in arrears (i.e., you get your money four months later).
After you’ve learned the basics of forex affiliate marketing, it is time to move on to something more interesting: types of commissions.
Types Of Commissions:
If you’re looking to make some extra money, then it’s time for you to get into the world of Forex. There are many different brokers out there, and they all offer their commissions which can range from 5% up to 50%. If your aim is looking at how much more revenue could be brought in with these types of programs, take note that even though most forex affiliates only earn around 2-5%, those who work hard will see an increase on average!
Forex affiliate programs have a wide range of commissions, including:
CPA:
Cost per action is when the broker will pay you only every time somebody becomes a site member.
CPL:
Cost per lead is when you get paid for every potential customer that signs up to your affiliate website. Your earnings are based on how much you can sell or how much they buy after signing up! You need to understand what the product is and how it works so that if someone asks questions about it, you can answer them in detail.
CPS:
Paid cost per sale is when you get paid for every actual sale occurring from your referrals. The payout usually starts at 30% and goes up depending on who negotiates with the company. Don’t forget that some companies will deduct your first month’s fee from your earnings, so always check this out beforehand.
For example, you receive a 30% commission on every sale occurring over the next three months! This is usually made up of installments that are spread or scaled across those months. You should also note that this won’t be paid to you until the client has completed their third month.
Hybrid: Some programs prefer to pay half of their commissions in one month and the other half at a later date (e.g., every six months). These hybrids require that you pay for the second payment, or your client will lose their account with that company.
Revenue Sharing:
Revenue sharing is a commission plan that pays you for each sale you send the company, but the revenue doesn’t come from the sales. Instead, they usually come from an AD on another website or on one of their affiliates as directed by them.
Sub-Affiliates:
Sub-affiliates are when you refer affiliates to the company, and they promote their offer. Again, the commission is usually paid as a percentage of what those affiliates generate.
Things To Consider:
You now know what forex affiliate marketing is, how it works, and, importantly, the money you can make. So before diving in headfirst as a newbie trader. There are some things to consider!
Real-Time Reporting Tools And Performance Tracking:
A program with real-time tracking tools is important for measuring the traffic that you’re sending. This makes it easy to see what adverts are most effective and where your customers are coming from. You will also be able to see which of your promotions are generating the most revenue, so it’s easier for you to maximize your earnings!
Choose A Trustworthy Forex Broker:
By joining a forex broker with an affiliate program, you’re exposing your business to new customers and rewarding yourself for attracting them. So, make sure it’s a company that you trust!
There are some great companies out there who treat their affiliates fairly and offer excellent customer services. However, many fraudulent brokers promise big earnings but will quickly disappear if things don’t go exactly how they want them to. In either case, never join any programs without first checking out their track record of past performance, including a number of clients signed up, complaints by current or former members of the business. Also, you should be cautious about joining schemes run by people who seem overly ambitious or aggressive in their promises of quick success! But, again, these are often scams, so do your research on them before committing!
A Good Range Of Marketing Tools:
Make sure that the forex business offers you a wide range of marketing tools. This will help you promote their products to people across different channels and get more exposure to your website.
It’s also important that they offer lots of banners, links, pop-ups, and other features available in many forms or sizes so that they can be easily integrated into any site built by an affiliate.
Commission Payment And Withdrawal Methods:
As mentioned earlier, “The money”, may seem like the most important thing but it’s actually the least important! As long as you get paid on time, it doesn’t matter what currency you earn or how much. Obviously, the more paid will help contribute to your overall income if you use forex affiliate marketing as a full-time job. But don’t ever expect high payouts because these programs will be looking for products/services with the maximum possible commission rates rather than agreeing with companies that offer lower commissions just so they can make themselves known by having their brand advertised across several sites.
Your Audience:
You also need to think about the audience you’re targeting. Where are they coming from, and what is bringing them to your site? This could be a company blog, your portfolio, or even social media! What common interests could you share with this person so that you can form a unique connection and convert more sales?
Also, what products would appeal to these people the most? By finding out about who they are and what their needs are before creating ads, it will reduce your chances of any returns as well as increase the likelihood that the product will sell! Also, if you know your audience, don’t waste time advertising different offers on different sites or blogs where they have no affiliation or interest whatsoever. You would want to do the same with your social media accounts! Either create different pages on these platforms catering to different demographics or be present and active on all of them to get your message out to as many people as possible.
Getting Started:
It takes a lot of hard work to do forex affiliate marketing the right way. But with our step-by-step guide, you’ll be able to generate high-quality leads and convert them into customers by following a proven system for success in this industry. If you’ve followed the steps in this guide, then congratulations! You are on your way to success with forex affiliate marketing. We hope you will share some of these tips with other entrepreneurs interested in investing time and money into online trading. Forex is a great opportunity for anyone looking to start without too much risk or effort because it requires no initial capital investment. Good luck out there!
