Casino affiliates looking for additional revenue streams (and who isn’t?) — listen up: Forex affiliate programs can be an excellent way to grow your affiliate marketing business, and are a key segment in CAP’s list of affiliate marketing partners.
What Is Forex Affiliate Marketing?
First thing’s first: If you’re not already familiar with forex affiliate marketing, you’ll need to know exactly what it is.
Forex is short for foreign exchange market, meaning the international currency exchange. Speculation is a big part of this foreign exchange market, making it a particular juicy option for online traders.
With forex affiliate programs, you market ads for online forex trading sites to online traders. You get a commission when a trader clicks on your ad, then makes a buy through the forex broker.
Like casino affiliate marketing, your new forex affiliate partners will provide you with the basic materials you need to promote their sites, such as banner ads, tracking links, possibly even mailers and landing pages. You’ll also receive monthly statistical reports about your referred traders, their deposits, and your overall commission.
Most forex affiliate programs try to provide affiliates with everything they need for success. So, you can usually get your hands on some other sweet add-ons like live currency rate updaters, which can make your site a place for traders to get live info, a powerful incentive for making a specific purchase.
“For visitors with a knowledge of forex, seeing the rates being updated live may well inform them about a trend in one or more of the currency pairs, which means that they will want to trade that pair immediately,” notes the eToro marketing guide.
Forex Affiliate Marketing Commission Types
Your commission is a cut of the profit the broker makes from the sale to the trader that you’ve referred.
As far as what exactly that commission will be, you’ve got a few choices:
- CPA: A one-time “cost per active trader” commission. CPAs usually start out around $200 – $250.
- Commission: With this option, you earn an ongoing commission (usually about 20%) on a trader’s overall lifetime activity. For a serious trader, this can add up.
- CPL: A “cost per lead” incentive, where you get paid not by what the trader spends, but by getting him or her to register with your forex affiliate partner. Smaller immediate payout but with the chance for far more conversions.
You can also usually set up a hybrid commission rate that incorporates some or all of these options.
Why Forex Affiliate Marketing?
A big benefit of forex affiliate marketing to casino affiliates is that lot of the elements are the same, particularly the commission model. Forex affiliate marketing also offers a chance to either diversify the profits from your existing affiliate site by offering a new ad platform, and an opportunity to nurture an alternate source of profit.
And, unlike poker and casino affiliate marketing, forex affiliate programs don’t place restrictions on Google’s paid search services. So, casino affiliates can use forex affiliate marketing to expand their marketing plans beyond organic link-building into Google AdWords Pay-Per-Click.
Specifics and Reputation
As always, the informed marketer is always the most successful marketer. If you want to give forex marketing a shot, it’s best to do your research. Some of the more advanced elements of choosing the right forex affiliate marketing partner for lasting success are:
- Trading Minimums and Limits (some forex sites allow trading as low as $1);
- Payment Methods: Wire transfer is by far the most common, but some also accept credit cards and/or Paypal;
- Company Reputation: More on this just below.
The more informed you are, the more confident your visitors will be, particularly if you’ve chosen a commission payment plan, where serious traders will yield bigger payouts.
That’s why reputation also comes into play. Connecting with stable, reputable brands is another reason why directories like CasinoAffiliatePrograms.com are valuable to affiliates. On top of that, affiliate marketing forums like the CAP Forum can help you suss out what forex marketing programs might best meet your tastes.