Recently here at the CAP Learning Center, we explored the basics of forex affiliate marketing and how it could successfully fit into a gambling affiliate’s online business plan.
Check out that article for the basics of what forex is and how it works. And now, let’s go into more detail on why forex affiliate marketing not only could but should be on your online business map.
Size matters
“Forex is the largest and most liquid market in the world,” states Investopedia.com. “In 2010, it accounted for more than $3 trillion of daily trading.”
That’s a huge number, and basic math will tell you the more money that’s traded, the more money is available for commissions to third parties like forex affiliates.
It makes sense: Since forex is the trading of international currency, the market is bigger than commodities or merchandise—because those commodities are traded based on currency. So, currency trading isn’t only a big part of international business, it’s the structure that allows international trading in the first place.
Market growth
Historically, forex trading has been around only since the 1970s, when President Nixon effectively separated the U.S. dollar from the gold standard and inspired the creation of a new, global currency exchange.
Now, the market is booming: “Global foreign exchange market turnover was 20% higher in April 2010 than in April 2007, with average daily turnover of $4.0 trillion compared to $3.3 trillion,” eToro forex specialists state, citing numbers from the Triennial Central Bank Survey 2010.
But considering its status as the biggest trading market, and the relative newness of the online forex trading boom, there’s almost unimaginable room for growth. Big as the market is, online forex trading is relatively new to the Internet and affiliate marketing, so there’s plenty of room for growth. And anyone who follows Internet business knows those kinds of opportunities are rare and getting rarer.
So, forex affiliate marketing is at the stage poker affiliate marketing was almost a decade ago — underdeveloped and set to explode.
Legality
“Forex trading is a legitimate form of speculating on financial markets and this means that it is not affected by laws which restrict gambling or casinos online,” states the eToro forex guide.
Forex affiliate marketing is fully legal in the United States, and globally. There are no seemingly random laws against the act of forex trading, or against payment processing related to forex trading, as there are in some aspects of casino affiliate marketing.
That alone makes forex affiliate marketing stand out among a lot of what gambling affiliates encounter everyday. No legal issues means site visitors won’t hesitate as they wonder if they can really legally make money on what you’re advertising.
The simple answer is: Yes, they can, and you can (and should) reassure them of this.
Plenty of room
Another big benefit of forex affiliate marketing is that it’s a much less crowded market than many other affiliate markets — particularly casino and poker affiliate marketing, where the best short-tail keywords have largely been taken.
That’s not the case with forex. Relatively unexplored, at least compared to online gambling, the opportunities for online growth with forex affiliate marketing are many: There’s a wide range of target groups and a big variety of keywords that remain largely available to online marketers.
Huge range of available keywords
Forex trading isn’t nearly as competitive in terms of SEO as are poker or casino affiliate marketing. There are a ton of high-level keyword phrases up for grabs — for example, at the time of writing this article, forextradingbroker, a three-word phrase with 5,400 global monthly searches that incorporates the 5 million global monthly searches for “forex” and the 550,000 monthly searches, … is still available in .biz, .us, .asia, and several other TLDs.
The future of global business
Add all this up, and you’ve got a general picture of why forex affiliate marketing is a profitable opportunity for casino affiliate marketers. Tomorrow, we’ll guide you through some more specific elements so you understand just how to succeed at forex affiliate marketing.