How to Become a Forex Affiliate
Investing money in trading currencies isn’t the only way to make money in the Forex market. You can also make money by becoming a Forex affiliate. A Forex affiliate is someone who makes money by referring customers to specific Forex brokers. When customers that you referred invest money through these brokers you earn a percentage of the commissions and fees generated by these customers.
Affiliates usually promote the Forex broker they are affiliated with through their personal Forex website. However, there are also offline affiliate programs.
It’s easy to become a Forex affiliate-there are literally hundreds of affiliate programs to choose from on the Web. But don’t just join the first program you come across. Research goes in to choosing a good affiliate program. You’ll want to do research not only to test the quality of the Forex broker you are going to affiliate yourself with (after all you don’t want to promote a bad product), but also to ensure that you will get a sizeable commission.
Commission structures differ from program to program when it comes to Forex affiliates. However, there are several different structures that you will come across. These structures are as follows:
Revenue Share – In rev share affiliate programs you earn a percentage of the profits the broker earns from investors that you refer to their brokerage. This is one of the best commission structures as it can lead to the largest profits. In the Forex affiliate industry the percentage in revenue share is usually around 20%.
Cost Per Active Trader (CPA) – In the CPA commission format you receive a one-time commission for every user that creates an account, makes a deposit and becomes an active trader with the broker you are promoting. In the Forex affiliate industry the average CPA commission is around $250.
Cost Per Lead (CPL) – In the CPL commission format, affiliates earn a small commission for each potential trader that visits the site. Usually in order for you to earn the commission the trader must fill out a registration form, but does not have to make a deposit. On average, the CPL commission rate in the Forex market is between $2 to $5.
Hybrid Commission – A hybrid commission is a combination of several of the above structures. For instance, an affiliate may earn a CPA commission as well as revenue share.
Before you choose the affiliate program that’s right for you its important to check into the commission rates to ensure that the payoff will be worth your time. For instance, a CPA and Rev Share hybrid is much more worthwhile than an affiliate program that only offers a CPL commission.
If you do the research and choose a worthwhile Forex affiliate program you can enjoy the freedom of working from home, being your own boss and making good money.
