How to make money on Forex affiliate programs? How to become a successful Forex a...
Today, I’d like to speculate about Forex affiliate programs.
Of course, that is not all I am going to write about. So, if you are interested in how to work with forex brokers and how to make profits from it, you will find a step-by-step guide in the article.
What is a Forex Affiliate Program?
I will start with major concepts. Forex affiliate programs mean special terms of cooperation with a forex brokerage company. Most of us know only one way to make money in the financial market. Well, the word “know” is a kind of exaggeration.
In fact, only a few know this way, and the others are looking for it. The method to generate income suggests you become a client of a Forex broker. And make money by conducting transactions in the Forex market, that is, enter trades and gain or lose money.
If you are a successful trader, you make profits from the market, and the amount of it depends on you. An affiliate program is a partnership with your broker, not with Forex. In addition to the profits made in the market, you have an opportunity to generate income by introducing a broker. You may not enter trades at all, but the affiliate program will still provide you with a source of steady income.
It looks quite promising, doesn’t it? Especially since forex trading doesn’t always guarantee a steady income.
In terms of the modern financial relationships between employers and employees, a successful partnership provides you with a steady income, and trading operations are a kind of bonus.
Based on this, the most important in the coo operation with a Forex broker is to establish the work of your partnership program.
I won’t tell you that it is easy, but do you really believe that it is easy to make good money? As for Forex affiliate programs, there is a wide range of them.
Each broker offers different variants of affiliate programs, but they are basically the same, they are only presented in different terms.
All affiliate programs can be basically divided into two groups: you either get remuneration for each attracted client that you direct to the broker’s landing page. Or,
Your income depends on the funds that are traded by clients you’ve attracted. There is the third type of affiliate program, which is a regional representative.
This is the most profitable type of affiliate program, but I can’t say that taking part in this program is just a source of steady income.
A regional representative program is a huge business, and you need to devote all your time to it. Only provide this, this kind of Forex partnership will yield the desired profits.
In addition to time, you will have to invest quite much in this business at this initial stage. I know what I am talking about, as I used to manage a broker’s regional office for two years.
As this article aims at revealing the ways to make money on the forex affiliate programs without huge investments, I won’t deal with this kind of partnership.
As I’ve already said, earning with the Forex affiliate program means that you are to look for and attract new clients to you your broker, and you will receive a reward for doing this.
The size of this reward will depend on how well you attract these customers. In this article, I will deal with practical methods to make profits from affiliate programs.
I divided all ways to make money on the affiliate programs into two basic groups. The choice of the method depends on your own experience and professional advancement in this area.
Forex affiliate program for beginners. It implies that you have recently started studying the financial markets and you are developing your skills together with your community that has similar interests.
You read topical articles, analytics and you take part in trading communities and social networking services. And of course, you discuss all your steps with like-minded people.
Affiliate programs for top or medium-level specialists. It suggests that you have basic or medium-level knowledge about the main concepts concerning the financial markets.
You understand how the price is moving, how a financial market works, what types of analysis can be, and employ them. If you are an expert on these issues, you will be even more likely to succeed.
Affiliate programs for traders. It implies that you have some experience in forex trading.
I have one or more real trading accounts where you are trading, and, what is the most important, you perform positive results. You have your own forex trading strategy and you take profits regularly.
Forex Partnership For Beginners
A beginner trader should take the following steps to start earning on forex affiliate marketing: Define your goals. Any successful business starts with a business plan. You should clearly realize what you are going to get as the outcome.
Of course, everyone wants to get money, as much as possible. So, you must clearly define how much you want to earn and over what period of time.
I want to earn on the affiliate program more than 1000 USD per month, but you don’t have a profound knowledge of the principles of trading and you don’t have a big number of like-minded people.
It will be almost impossible to achieve, however, almost impossible doesn’t mean that is impossible at all. It only means that you’ll need to spend more time and effort.
Well, for example, you’ve decided that 1000 USD will be enough at an early stage. This is what you should refer to later. So, the goal has been determined.
Select the broker. You shouldn’t participate in the affiliate programs offered by multiple brokers. There are a few reasons for this. First, all brokers offer similar affiliate program terms.
Second, when there is each new potential client, you will hesitate which broker you should direct the client to, so won’t be able to use the full potential of the partner program offered by each broker.
Third, each good broker, seeing that its partner works hard and generates profits, will be always willing to agree on individual conditions that will allow you to increase your income.
Choose one broker and spend all your efforts on developing your affiliate program.
Define the range of potential clients. As I have already said you look for the answers to most questions you come across at the beginning of your trading career on the Internet.
In particular, in the topical communities or on the forums. So, your social circle includes the participants of these communities and forums. Start promoting yourself to become more popular. It is not a secret that people trust more the things they hear about more often.
We don’t think much about it, but we buy those products whose commercials on TV are shown more often than others. Many products are basically the same, and our choice is affected by a trifle.
Your task is to make your name or nickname appear in the communities you take part in much more often than those of common users.
Based on my own experience, it often turns out to be enough. There are plenty of ways to increase your popularity, and they do not require huge efforts. All you need to do is to increase your activity by about 5 times.
Comment the posts 5 times more often, leave your feedback 5 times more often, like the topical posts more often, take part in discussions more often, and most importantly, try to always express your opinion.
It doesn’t matter if your opinion is right or wrong. It is 50% to be correct, so you can always count on the loyalty of half of the audience.
Develop the interaction with like-minded people. Of course, you can’t yet publish a tutorial or an analytical article. And you basically don’t need to.
Write an overview of some element of the trading process or trading terminal. What is most important, don’t try to persuade that everyone that you’re right, you should rather express your opinion as a beginner user and give your personal assessment.
As I said, you will always find both the supporters and the opponents of your viewpoint. Don’t worry about this. You have your audience, ask those people to assess your video.
Key content. Once people have started to click on your link, you will begin to receive affiliate income. Now you need to work with this. It is necessary to determine what people like more and publish this kind of material.
Do not stand still, go to new websites, register on new forums, and go all the way again. But at this stage, you will have experience and set up the interaction much faster.
Remember, “to offer a person what you want, you first need to find out what she/he wants.”
Affiliate Programs For Top And Medium Level Specialists
You are an expert, and so, you have some advantages that can increase your revenue from the affiliate program. There are many similar steps, so I won’t deal with them again. I will rather describe the new opportunities that you have.
Key content. Once people have started to click on your link, you will begin to receive affiliate income. Now you need to work with this. It is necessary to determine what people like more and publish this kind of material.
Do not stand still, go to new websites, register on new forums, and go all the way again. But at this stage, you will have experience and set up the interaction much faster.
Remember, “to offer a person what you want, you first need to find out what she/he wants.”
Affiliate Programs For Top And Medium Level Specialists
You are an expert, and so, you have some advantages that can increase your revenue from the affiliate program.
There are many similar steps, so I won’t deal with them again. I will rather describe the new opportunities that you have. ( Keep reading the rest)
