How Can One Get Started with Forex Affiliate Marketing?

02 October 2020

Forex affiliate marketing involves the promotion of the products of the brokerage companies. People can do this using different channels. For example, some individuals might create a social media webpage, or make their own video channel. Alternatively, some people utilize their own websites for this purpose. Finally, there are even those people who make use of email marketing in order to promote these products.

The upside to affiliate marketing is that in exchange for recruiting new clients for them, the brokerage firm pays either a flat rate of commission or a certain percentage of the revenues, earned from those new customers.

It goes without saying that being an affiliate marketer is not an easy task. It does require a serious workload and sacrifice. There is also a significant degree of competition in this field. Consequently, it might take a year or more time for the individual to achieve some notable results with affiliate marketing.

However, on the positive side, it gives people an opportunity to earn a significant amount of passive income on a regular basis. In fact, the successful affiliate marketers very often earn even higher revenue, than they did on the standard full-time job. So this is why for some people, it is definitely worth the effort.

Select your Acquisition Channel

It is worth noting that there is not a single Forex affiliate marketing method which can always guarantee success. Instead, there are at least 5 ways marketers can do this, each of them having its own distinct advantages and downsides. So the marketers can promote Forex brokerage company products by five channels:

Social media pages
Email marketing
Video channels
Websites
Podcasts

Now, let us go through each of these in more detail.

Getting Started In Forex Affiliate Marketing by Social Media Pages

One of the easiest ways to get started with the Forex affiliate marketing is to create a page on one of the popular social media sites. The page might focus on one of the aspects of Forex trading. For example, promoters can call it ‘Forex trading signals’, ‘Trading economic calendar’, or other specific topics.

The affiliates can then post regular updates about the chosen topic. They can also promote their page using social media advertising services in order to attract more visitors. Once they gather a significant number of daily visitors, the promoter can join one of the Forex affiliate programs. As a result, they can put links to these brokers on the page and promote their products.

Once the affiliate marketer gets some people to sign up and start trading with the brokerage firm, then they will start receiving commissions from the broker. Here it is worth noting that there is no single universally accepted commission scheme. Instead, there are several types of these.

For example, with the revenue sharing agreement, the brokerage company shares a certain percentage of income received from the new client. With the cost per lead (CPL) arrangement, the broker pays the fixed rate commission for every client who signs up for the trading account and verifies his or her email and phone number.

The brokerage companies typically offer larger one-off payments for cost per action (CPA) commission scheme. However, in this case, they usually require traders to deposit a certain amount of money and execute a number of traders for the affiliate marketer to receive the payment.

Finally, there is also a hybrid option. This typically represents a mix of revenue sharing and cost per lead (CPL). So this means that the affiliate will receive a payment for every client which signs up for the trading account, but will also get a share of revenues received from this customer.

Consequently, the promoter and the brokerage firm will agree on one of these options and then the affiliate can start earning some income.

It goes without saying that promoting company products on the social media pages does have its advantages. The marketer does not have to pay for hosting fees or worry about the website design. The only possible expense is the advertising costs if one decides to promote his or her page. In addition to that, the promoter can invite friends to the page and potentially get some number of followers.

This method of affiliate marketing does have its downsides as well. The fact of the matter is that social media sites might not allow the promotion of the products of some brokerage companies. The marketers should also comply with the terms and conditions set out by the social media platforms when promoting their pages or products.

Consequently, these factors can represent a significant limitation for some promoters. For example, the affiliate marketer might have a very popular social media page and have an opportunity to earn some decent income by cooperating with the brokerage company. However, he or she might not be able to do so because of those restrictions.

Email Forex Affiliate Marketing Explained

Email marketing is another option affiliates and Forex brokers can cooperate with. The main idea behind this is to have a large list of emails of people, who might be interested in Forex trading.

The promoter can then write them an email, explaining the advantages of opening an account and trading with a particular brokerage firm. They can also put some images to make it more visually appealing and also attach the link the reader will click if he or she decides to go to the broker’s website.

Just like with other methods of affiliate marketing, the brokerage company will then pay commissions when the new clients register for the new account and start trading on the platform.

This type of approach does have certain advantages. Here promoters do not have to worry about website hosting costs or social media page advertising expenses. They also do not have to write every single email they send out. All they have to do is to create 2-3 templates for products and send them out to as many emails as possible. So in a way, this method can be the cheapest and the least time consuming option for affiliate marketing.

However, despite all of these upsides mentioned above, this approach also has its own drawbacks. One thing to remember here is that promoters should always be careful not to be categorized as ‘spam’ by the email providers. If this happens, these emails will automatically be put into the ‘spam’ folder. There are some people who read those emails out of interest. However, in the majority of cases, people simply empty the entire spam folder, without reading anything out of this category. Consequently, if this happens, it can be very damaging for the affiliate marketing business.

Successful Affiliate Marketing by Video Channel

One of the popular ways of affiliate marketing is to promote products through video channels. This can be especially effective with Forex trading. Here the promoter can record videos of analyzing currency pairs with the charts, using the technical or fundamental indicators. Or alternatively, they can review the trading platforms, or focus on any other aspect of Forex trading.

The affiliate marketers can mention the name of the brokerage company in the videos and also put the link in the description as well. Once the channel becomes popular and recruits some clients for the broker, the promoter will then start receiving payments from the Forex affiliate managers.

Forex broker affiliate marketing programs

The benefit of this method is that the affiliate marketer can build his or her popularity and name recognition by these videos. They also do not have to convert any website operating costs. In addition to that, they can earn extra income from their channel as well.

The downside to this approach is that the affiliate still has to conform to the rules and regulations set out by the video sharing website. Consequently, the marketer might not be able to promote the services of all Forex brokerage companies. It is also worth noting that not all people are comfortable with recording videos, so this might not be the best option for these individuals.

Building Forex Affiliate Websites

The next item on our list is building the Forex affiliate website. This involves the purchase of a domain name, choosing a hosting provider, designing the website, researching keywords, and publishing posts on a regular basis.

The upside to this method is the fact that the individual is in charge of the website and can promote the services of any brokerage firm. Also, there is no risk of his or her account being deleted by the social media or online video sharing websites.

Despite these advantages, this type of affiliate marketing has two distinct downsides. People looking for Forex affiliate business tips should keep in mind that starting a website for affiliate marketing does need some decent startup budget. These expenses include such items as the cost of purchasing the domain name, hosting expense, website design, and the keyword research software. It goes without saying that these costs can add up to a significant amount.

The second major downside here is that this method requires a very serious effort and might take a year or longer to yield any results. The fact of the matter is that there is a great deal of competition on the internet when it comes to the financial websites. Consequently, getting a decent ranking from the search engine companies can be rather a difficult task.

So as we can see, this method is the largest investment of money and time, something some affiliate marketers might not be most compatible with.

Starting Forex Podcast

Finally, we have people in affiliate marketing who promote products using their podcasts. This essentially represents an audio show, which covers some specific topics. For example, there are historical podcast series, which chronologically covers the history of one particular country or empire. There are podcasts about cooking, medicine, politics, sports, psychology, and all sorts of other topics.

In fact, regardless of their interests and hobbies, everyone is likely to find a podcast which has something interesting to offer to them. This is why podcasts became even more popular during recent years.

So how can one do the Forex affiliate marketing in this field? Well, the marketer can start covering different topics about Forex trading, whether that be trading strategies, economic indicators or other items. Alternatively, they can discuss the latest developments in the currency and commodity markets. They can then record these audio files and publish them online, in order to make it available for download.

Once the marketer manages to gather a large audience, then he or she can start promoting the products of the Forex brokerage companies at the beginning or the end of each podcast series. For example, the promoter might recommend for interested listeners to open trading accounts with a broker. Or alternatively, the marketer can even create some special episodes in the podcasts, discussing the advantages of trading with one particular brokerage company.

Here it is also worth noting that some companies give special discounts or bonuses for the podcast listeners. For example, at the beginning of the show, the host might announce that listeners can type the special link, where they would get a certain amount of discount or bonus for purchasing the product of the company.

Obviously, this can work quite well with brokerage firms as well. For example, the broker might decide to offer podcast listeners some sort of deposit bonus, up to a certain amount if they sign up for the trading account. This actually works with some customers, because they like the fact that as loyal listeners of the podcast, they are getting some special offers. So many of them might decide to take advantage of those opportunities.

This can also have a positive effect on the popularity of the host of the podcast. The reason is that by offering these special deals, the marketers can show to the listeners that they do not only care about their earnings but also provide them with some lucrative offers as well.

Many people like listening to podcasts, because they can do so when driving the car, walking on the street, doing a workout, cooking or doing other activities, which do not allow them to watch the TV, mobile or laptop screen, but are still able to listen. In fact, many people download several podcast episodes on their phone and listen to them as they get busy with their daily activities.

Another benefit of starting a podcast is that the level of competition here is relatively lower than with blogging. After all, regularly recording audio files is not something the majority of people are willing to do. Consequently, this allows marketers to build their name recognition and the loyal audience base.

At the same time, it is important to point out that starting a podcast does require the proper audio equipment, research, and some website to upload those files. The latter one does not necessarily need to have a very high quality design and dozens of pages.

All marketers need is to create a visually appealing design for the main page and post the download links for every new publication of the podcast series. After all, most listeners are much more interested in the contents of the podcast, rather than the website design.

Forex Affiliate Marketing Newbie Guide - Key Takeaways

Forex affiliate marketing involves the promotion of the products of the brokerage companies and getting people to sign up and start trading with them. In return, the brokers pay affiliate marketers a commission. This can be a flat fee or percentage of the revenue received from those new traders.
There are at least 5 channels which can be used to get started in the Forex affiliate marketing. People can do it by social media page, video channel, email marketing, opening their own website, or starting the podcast.
Each of these options has its own benefits and disadvantages. Consequently, marketers can make the choice based on their personal circumstances.

FAQ: Forex Affiliate Marketing Tips

What are the expenses associated with becoming a successful Forex affiliate marketer?

The amount of expenses the Forex affiliate marketer has to cover, depends on the channel chosen for the promotion of the broker’s products. With the social media page, there are no startup expenses, yet some people might want to spend some money on promoting their page.

Email marketing does not involve any unavoidable expenses. However, there are companies that sell emails for some price.

There are no expenses involved in setting up the video channel, yet, the promoter still needs to spend some money on the camera to record the videos.

One of the most expensive options here is starting a website for affiliate marketing. This involves the purchase of the domain name, hosting expenses, spending on website design, and also payments for keyword research software companies.

The starting of the podcast involves the cost of audio recording equipment, as well as a website domain name and hosting expenses. However, in most cases, promoters do not have to spend money on keyword research or on website design.

Why do some people not like affiliate marketing?

Despite all of the advantages affiliate marketing has, it might not be a very attractive option for many people. The fact of the matter is that individuals have to put hundreds of hours of unpaid work for the project to succeed, regardless of the channel they have chosen to promote the products of the Forex brokerage company.

So one thing to keep in mind here is that the affiliate marketers do not receive an hourly wage for their work. Instead, the entire size of their income depends on the results. This means that there is always a risk that all those efforts might fail and the promoter might not be able to recruit enough traders to earn a decent income from the brokerage company.

In addition to that, most channels of affiliate marketing do require paying for some expenses, so there are also financial risks involved with this line of business. This is because if those efforts fail, then the promoter will also lose the money invested in this venture, without receiving any compensation.

Therefore, many people do not like the prospect of putting down hundreds of hours of unpaid work with unpredictable results. They might prefer the predictability which comes from the paycheck, where they would know that for each hour of their work, they will get a specific amount of money.

What are the benefits of becoming a Forex affiliate marketer?

Becoming an affiliate marketer does have a number of advantages. Firstly, it allows individuals to maintain a significant degree of independence in their lives. Here the marketer can set the working hours according to one’s preferences.

They can also choose such factors as the working space, the number of holidays and short breaks on their own terms. Affiliate marketers can also choose the subject they are interested in and dedicate their time to that, which can be helpful to keep up with the motivation.

In addition to that, once marketers manage to build their name recognition and develop their business, they might be in a position to reduce their working hours and have more spare time to devote to other activities.

Here it is also worth noting that because the affiliate marketers are in charge of their own businesses, they do not have to worry about losing their job due to layoffs or for any other reason.

Another major advantage of being a Forex affiliate is that in case of success, one can earn much higher payouts compared to the standard full-time job. This can be very helpful for accumulating wealth much faster and even manage to retire early.

This is because a large amount of revenue allows affiliate marketers to invest large sums in dividend-paying stocks, rental properties, interest-bearing bonds or other types of investments. Consequently, one might reach the point much faster, when all of life’s expenses will be covered by the income received from these investments.

Are there any significant financial risks associated with affiliate marketing?

It is worth mentioning that in the majority of cases there are not very large financial risks involved with affiliate marketing. The exact amount of necessary expenses depends on the method in which the marketer chooses to promote company products. However, in most cases even with some of the most expensive options, the total amount of expenditure should be within several hundred dollars, rather than thousands of dollars.

This does not mean that there is no risk of the promoter losing a significant amount of money in the failed affiliate marketing venture. For example, if the individual decides to spend large amounts of money on some paid domain name, hire some writers and proofreaders, then it is possible to lose thousands of dollars if the project fails. That is why it is very important for affiliate marketers to keep their expenses under control and keep unnecessary spending to a minimum.

It might be a much better idea to start small and only expand and hire some staff, once the affiliate marketing business reaches a certain level of success and recognition. So if the marketer is already earning thousands of dollars, has partnerships with several brokerage companies, and has decent name recognition, then those large amounts of expenses might be justified.

This is because in this case, hiring the additional personnel and upgrading the equipment or software, can be a necessary step to expand the business and even earn a larger amount of revenue in the process.

In fact, once the affiliate market reaches this stage, then he or she might consider registering the company and possibly getting some tax benefits for operating business and employing people.

What are the requirements for joining the Forex affiliate programs?

The reality of the matter is that each brokerage company has its own terms and conditions for accepting people into their affiliate marketing programs. So for example, some companies might require individuals to have a certain number of visitors or listeners, before they could join the program.

At the same time, some brokerage companies might want to take a look at the website, social media page, tv channel or podcast, before determining whether they would be willing to accept the promoter into their affiliate program.

Here it is important to note that, in some countries, there are some specific laws and regulations for people doing affiliate marketing. For example, in Spain, the affiliate marketers for the brokerage companies have to register with local regulatory authorities, before starting their activities.