Riding on the increasing success of online affiliate programs XForex decided that it is time to simplify the registration process for its business introducers.
According to Wikipedia: Affiliate Marketing is an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s marketing efforts. It is an application of crowd-sourcing.
For us in Forex this basically means that anybody can instantly become an Online Introducing Broker for a Forex firm via a quick and simple registration process. Forex affiliate programs allow you to sign up as an online Introducing Broker (Affiliate), receive creatives (banners, links, etc), get your own tracking link (telling the broker that the trader arrived through you) and view and monitor your campaigns and traders’ performances real time. Another great benefit of such a system is that there is no need for human intervention during the process. Unlike your typical Forex broker which typically requires you to interact with an Account Manager, here you are up and running within minutes.
This type of program is specifically geared towards Internet marketing experts who are able to drive large amounts of traffic via their sites, networks, email lists, etc.
The benefit for the Forex broker is obvious – dozens, hundreds or even thousands of people are working to introduce business to you, at no cost for you. The only cost is when a trader signs up, then one of the typical payment methods follows.
The common remuneration methods for affiliates are:
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a. CPA (Cost per Acquisition) – once a trader opens a live account, or deposits, the affiliate receives a fixed bulk fee, typical regardless of the deposit sum.
b. Revenue sharing – Affiliate is rewarded for client’s trades, typically rebates as percentage from spread.
c. Hybrid model – combination of CPA and Revenue Sharing.
These are the most known affiliate programs in the market today:
HY Markets – HY Affiliates
Easy Forex – forex-affiliate.com
Etoro – etoro partners
Forexyard – Affiliate Yard
finexo – referforex