Retail FX and CFD brokerage AvaTrade, has relaunched its affiliate program with modified terms, in an effort to expand its cryptocurrency client base.
AvaTrade sent a message to its network of partners and affiliates, notifying them of a reinstituted affiliate program. The program is aimed at attracting cryptocurrency traders, to accommodate the brokerage’s efforts to consistently expand its crypto CFD assets.
For affiliates who do not personally negotiate a customized commission structure, the company would apply their default commissions plan as follows. Based on the notification, partners may select from either CPA or Hybrid deal structures. The standard CPA plan will grant affiliates a one-time payment of $100 for each new cryptocurrency trader.
Meanwhile, the Hybrid plan combines both the CPA and Revenue Share commission structures. The breakdown of the Hybrid structure will include $50 per client for the CPA portion, and an unspecified percentage of RevShare commissions.
Minimum Qualification Requirements
There are additional qualification requirements mentioned in the statement, which detail that in order for a new client to qualify as a cryptocurrency trader, the percentage of cryptocurrency trades within the new account must amount to at least 75% of the total trading allotment within the portfolio.
Moreover, in order for a new client to be validated for commission, the minimum deposit amount is 250 base currency. The base currencies for such account may include any of the following: USD, EUR, GBP, or AUD.
At the end of each month, AvaTrade will conduct the calculations for the clients of each affiliate, thereby determining both the valid qualification of each client, as well as the commission amount owed based on the commission structure selected prior to the transferring of clients to the company.
The relaunched affiliate program also requires a minimum trading volume conducted by each client in the CPA and Hybrid structures. In order for the partner to receive a commission payment, the client must execute trading volume that will induce at least $50 in bid/ask spreads. Only spreads of closed positions will be included in the calculation.
AvaTrade has restructured its affiliate program, shortly after striking a new partnership with English Premier League football club Manchester City. Whether the change to the program is associated with the deal is unknown, but it is plausible that such exposure could lead to an influx of clients for new sources for the FX and CFD brokerage.