Affiliate Articles - Affiliate Programs

A good forex affiliate program can generate a very good income and create a pleasant partnership between an affiliate and a representative. How can you figure out which forex program is worth advertising? What are the signs of a good forex program?

font-family: "Tahoma","sans-serif"; mso-fareast-font-family: 'Times New Roman'; mso-bidi-language: HE; mso-themecolor: text1; mso-ansi-language: EN;">In my experience, when a represented broker is reputable, the affiliate program is trustworthy as well. Therefore, it is important to check the reputation of the broker first! What defines a good broker? Below is the list of things to look in a broker:

Regulation and Reliability

In order to figure out whether a forex broker is worth your trust, it might be a good idea to:

·         Read broker’s reviews, forum discussions and blog posts. This will give you a general perspective of the broker’s reputation among traders.

·         Find out how long the broker has been around – generally forex broker with a long time activity in the industry are most reliable (you can check the page rank, the domain traffic and even financial status – some brokers post it on their website).

·         Search the broker’s site for the address. Bad sign is when the address and phone number are not listed, and the only way to contact the broker is by email.

·         Find out whether a broker is regulated. All information about regulation, location of the broker, along with financial position should be available on the broker’s site. Keep in mind that only certain countries require forex brokers to be registered with regulatory bodies. Some brokers are not regulated by any authority and are basically free to do whatever they want.

·         Forex market “never” sleeps. Trading is available for 24 hours for almost 5 and a half days a week. Therefore, it is very important for forex broker to be available for support. As an affiliate, you  might want to check the customer support performance by contacting the broker via email, phone and online chat.

Commissions and Extra Fee

No one works for free. When the broker mentions no commissions and no extra fees, it isn’t really so. First of all, in most cases forex broker earns according to the spread. Spread is calculated in terms of pips and pips is the difference between the rate at which a currency is bought and the price at which it can be sold at a specific time.

A broker adds more pips onto the spread that already exists on the market (usually between 1 and 4 pips). This difference goes to the broker as a fee. So, for a trader, it is important to find a broker with low spread (some brokers add 8 or even more, therefore make sure to pay attention to this).

It should also be clear from the start if any extra fees are involved. For example, some brokers may charge for withdrawals, others – for account maintenance. Whatever reason, it needs to be clearly started to the trader, therefore as an affiliate, it is your responsibility to find out the truth! If the information is not available on the website, you can contact your dedicated affiliate manager for details.

Trading platform

The best way to test a trading platform offered by the selected broker is to download the free demo version and try it out. Most reliable trading platform today is MetaTrader 4, however not every trader, especially not a beginner, understands and knows how to use it.

The alternatives to MetaTrader 4 are user-friendly platforms with more graphical interfaces. As an affiliate, you might want to check the features offered by each broker and maybe even take it for a test drive yourself.  

Search for the answers to the following questions:

·         Is trading platform web-based or download? The best way to understand the difference is to try out both types. In my experience, the download works faster.

·         Are real-time currency exchange rate quotes available?

·         Can you see account history including realized and unrealized profits and loss, margin available and any margin locked in open positions, deposit and withdrawal summary.

·         Is there a free demo account available? How long can a trader practice? (most brokers offer demo account for a limited amount of time, let’s say a month).

·         What is the minimum deposit requirement? $1? $100? $500?

·         Is there instant automatic execution of the orders? One click execution?

·         Is free charting and technical analysis available to all account types?

·         What is the difference between account types?

·         What is the leverage available? Keep in mind that this thing can make you either very rich or very broke! If you are a beginner, stick to small leverage. The basic rule of forex trading is not to use more than 100:1 leverage with standard accounts (100K) and no more than 200:1 for mini accounts (10K).

 Terms and Conditions

Pay attention to terms and conditions of the broker.  Each broker has different terms and conditions, which may also vary by the account type chosen. In any case, these terms have to be mentioned at the time of the account opening. If something isn’t clear to you, you can either contract the broker or the affiliate manager.

Term to pay close attention to include:

·         Transaction costs

·         Margin requirements

·         Minimum trading size requirement

·         Rollover fees

·         Margin account interest rate

No Fairy Tales

A professional forex broker will not try to promise a “Happy Land” to a trader. It will mention the risks involved, explain the basics and offer assistance. Whenever 100% profit is mentioned – it’s a scam! Forex is not a fairy tale. There is no “get rich fast” scheme.

 

Now, let’s talk about forex affiliate programs. This website (Forex Affiliatez) contains the reviews of forex affiliate programs that have been tested by our team. Affiliates are able to ask questions via contact information or forum.

Forex Affiliatez only list trustworthy affiliate programs, however if a selected program doesn’t perform well for you, it might be a good idea to either change the banners or try a different affiliate program. Generally, if your site has a good traffic flow, one month is enough to figure out the affiliate program performance.

To get assistance with tracking links, banners, withdrawal and any other affiliate issues, you can always contract the affiliate manager of the program. Usually affiliate managers are eager to help out and, in return, try to get their banners above the fold on your site!

The best outcome in advertising forex brokers is to create their reviews and add banners on top and at the bottom of the pages. You can also rate the brokers, explain why certain brokers are better than others. The more information and comparison you can provide to the traders who visit your site – the better. The top forex brokers have to be presented in a reliable and professional manner. This increases the chances of converting your leads to real traders.

Another tip is to stay in touch with the affiliate managers. They can help you out with advertising ideas, general updates, seo tips, forex industry updates and affiliate program news. You can keep in touch with the affiliate managers via emails or online chat. A quick “hi” on a regular basis can help you out with the content and other important information in forex world.