In the Forex affiliate marketing, nothing guarantees your success but your choice of Forex broker, in fact, that's one big fat truth. There are now a large number of Forex brokers operating online and they are even growing more, not all of them are reliable, many are small, cheap or unregulated brokers who are in fact having a hard time attracting clients. It is crystal clear that you won't build a successful affiliate partnership with such brokers.
People interested in online trading referred as traders, choose their Forex broker very carefully, study them in depth, ask around on online communities, check reviews and so on before opening an account with the broker and depositing their hard earned money. Only when you refer a BIG, reliable and fully-regulated Forex broker, popular among the traders with a reputability recognized all over the place, then you'll be guaranteed to have a real high conversion rate, turning your referred clients into thousands of dollars of affiliate commissions.
When choosing a Forex broker for affiliate partnership, you should consider the following key factors:
1. History of the Broker
Choose a Forex broker with at least 3 years of successful presence in the industry, who's been constantly developing, widening their presence in the industry and gaining popularity among traders. With such a long and solid history, the broker should have built their reputation and business strategy already, so you could promote them easier and better .
2. Regulation and licensing
Regulation is a critical factor, a must have when choosing your Forex broker for affiliate partnership. Referring an authorized broker, under the supervision of a governmental regulatory body (such as FCA in UK or CySEC in Cyprus) will bring maximum security to both you and your referred clients. Lack of regulation at the broker, not only brings your conversion rate to almost zero (Regulation is #1 factor when traders choose a Forex broker) but also makes it difficult for you to deal with the broker (Un-regulated Forex brokers tend to be un-trusted at most cases).
3. Trading Products & Services
Forex Brokers offer different trading accounts & platforms as well as access to different financial markets to trade in. Make sure your affiliate broker offers a wide range of trading products to meet your referrals needs, such as popular MetaTrader 4, Web Platform, Mobile Trading, Micro, Standard & ECN account, access to Forex, Stocks, Futures, CFDs, Options, Oils and Metals trading. Additional trading tools, such as Market analysis, charting systems, Signals service and social trading will also greatly boost your conversion rate as they are beneficial for traders.
4. Worldwide offices, multi-language support department
As an affiliate marketer, you'll most likely refer clients from anywhere in the world, a Forex broker with a 24/5 native customer service with regional offices around the world will definitely give you a higher chance to converse your referrals, as people tend to open a Forex account with a local Broker with a local support, this is especially true for countries where targeted language is essential for attracting clients due to lack of English language skill.
5. Affiliate Cabinet & reporting system
Brokers give their affiliates access to their personal account where they can track things such as a number of referred clients, ads performance, impressions, clicks, incoming traffics, received commissions and more. The more transparent and detailed the cabinet options are, the better and more effective you’ll be at tracking your performance as well as optimizing it accordingly.
6. Payment Methods (Deposits & withdrawal Options)
Traders prefer fastest and most favorable payment methods (Usually online) with the lowest transferring fees. For that, let your referrals have a variety of methods to deposit and withdraw to/from their broker. Some Forex brokers now even offer local deposits in certain countries, where your referrals can use their local online banking system to deposit to their broker with their own local currency, very convenient and cost-effective, instead of international transfers with higher fees.
7. Types of affiliate program offered by the broker
Learn about affiliate program types offered by your broker. Most affiliates choose either rebate per lot (commission for every single trade made by referrals) or CPA (One-time performance-based fee). Learn about types of Forex affiliate programs and make sure to read the Affiliate Agreement for any written limitations which you must agree with or negotiate with the broker. (Read the section of Limitation and restriction for affiliates by Forex brokers)
