Are you planning to be a participant on the online trading market and thus searching for impeccable and dependable tactics which will help improve your knowledge and understanding on how to make money as a forex affiliate? If so, these inevitable tips on how forex affiliate programs normally work will be very helpful with your needs. Forex trading which involves the different aspects of purchasing, selling as well as exchanging currencies at determined or current prices is an online activity requiring good analysis as well as proper timing so as to produce flawless trading decisions and thus avoid losing your investment. When participating in forex trading, the process involved can consume a significant amount of your time and expose you to other pitfalls if you’ll prefer do-it-yourself online trading option. By hiring a forex broker, there are a number of merits you’ll definitely encounter including:
* Having Expert’s Advice anytime the Need Arises
Once you hire a forex broker, you’ll not need analysing the forex market since you will be having a pro that will offer inputs and assist you produce sound decisions. A reputable forex broker will significantly help you reduce the chances of losing your investment by offering reliable online trading advices.
* Saves Time
By dealing with a forex broker, you will not be required to spend a lot of your precious time monitoring from time to time your trading platform since the expert you hire will handle all the activities involved. However, if you are a forex enthusiast and you do not want to trade online yet you want to make money with forex, it is a good idea to become a forex affiliate.
Who is a Forex Affiliate ?
An affiliate in forex refers to a kind of online marketing whereby an individual collaborates with a forex broker as a marketer or publisher, so as to refer clients to a particular company and get rewarded in case any of those clients starts trading by making a deposit in the broker. The referral normally work when a potential client clicks a banner or a link offered by an affiliate i.e. the marketer of the forex broker and registers in order to start trading with the broker.
Categories of Affiliate Compensation Techniques
A forex affiliate can be compensated based on the capacity his or her customers make. For example, affiliates can get 1 pip for each standard lot their respective clients will trade. The industry standard currently ranges from 0.5 to 2 pips and hence what affiliates get is determined by the agreement they make with their particular brokers.
#2: Cost Per Acquisition
CPA i.e. Cost Per Acquisition is a kind of compensation an affiliate is given when the clients he or she refer make a deposit or sign up for a forex account. The current CPA industry standard is 150 to 250 dollars per client and this amount can significantly rise depending on the client’s deposit size.
#3: Cost Per Lead
CPL i.e. Cost Per Lead is a situation whereby an affiliate is compensated once a referred trader offers his or her details on the landing page of the broker. The landing page is the marketing page that provides something to the client while collecting basic information such as email address, name and phone number among other details.
Some brokers can also provide CPL if a referred potential client agrees to sign up for a demonstration account.
#4: Revenue Sharing
With revenue sharing, affiliates (market makers) gain from spread and also from some of their respective clients’ losses. Be informed that with forex, it is not necessarily that every dollar lost by a client is added in the broker’s bank account.
Tips on How to Attract Traffic as a Forex Affiliate
Tip#1: Online Magazine Advertisements
There are very many sites loyal to investment, business and economics. Most of these sites have audience that might develop interest with your affiliate offer. Prices for online magazine ads you incur will be determined by site traffic.
Tip#2: Targeted Advertising via Social Networks
If you utilize Google Adwords as an affiliate, your ads will be displayed strictly to each user searching for it. There are social networks that may give you the chance of selecting users who like your competitors already. Other exceptional ways you can use to attract forex traffic include:
1.Promotion via own website
If you are not confident enough to trade in forex, well, going affiliate is the other door open for you if you are a diehard forex enthusiast. However, make sure you are certain about the pros and cons related with being an affiliate prior to utilizing this form of opportunity.