- What is Forex Trading?
- How Much Can You Earn Promoting Forex Affiliate Offers?
- Step-by-Step Guide to Start Promoting Forex Affiliate Offers
- The Best Performing Ad Formats in TrafficStars
- Wrapping Up
What is Forex Trading?
Before we learn how you can make money with forex affiliate offers, we need to understand what we are selling.
Forex (short for foreign exchange) is basically like trading stocks, but instead of buying and selling stocks, you're exchanging currencies. You profit from the small price changes of the currency you purchased.
One of the subcategories of forex trading is crypto trading. The only difference is that instead of trading physical currencies, you are trading cryptocurrencies.
And forex is a highly lucrative investment option! That's because of its many characteristics of it. For starters, the total market value is enormous. In 2019, it was a mind-bending $2.409 quadrillion (1 quadrillion = 1000 trillion dollars). And better yet, the market is open for 24 hours.
And to top it all off, hundreds of people are making six figures, if not seven, each year from trading there alone. However, there is one con to it. If you want to start trading, you need to have two things:
• A large sum of money to start investing • Extensive knowledge and skills to start investing.
So, if you want to get into this market, one of the best low-risk ways of getting there is through promoting affiliate offers. Instead of trading currencies, you promote the forex broker to other avid investors. And once an investor starts using it, you gain a commission out of it!
Forex vs. Binary Options: Is it the same?
One of the things that many people mix up with forex trading is binary options. That’s because, just like with Forex, you also invest in different currencies. But what makes it different is that instead of speculating price movements between two currencies, you’re predicting if it’s going up or down. If you predict correctly, you’ll gain a fixed payout.
But while you might be able to make more money than Forex, you’ll have a lower margin of error. So you’ll have to be more experienced to make money efficiently.
How Much Can You Earn Promoting Forex Affiliate Offers?
The good news is that there is no limit to how much you can make by promoting affiliate offers. It depends on how many people you can convert into forex broker users. Many people make six figures from it, while some even make millions. However, a lot of it depends on the offers you choose to promote. Some tend to pay less while others pay significantly more. Here's a brief description of each payout model:
Per lead This is one of the simplest ways of promoting forex brokers. With it, you usually get a small commission for every person who creates an account there. And since it's so easy to get, it usually pays the least per person.
Per sale With this, you get a small fixed fee every time your investor buys or sells their currencies. That is much more lucrative than the per lead model, but it takes more effort to get them to invest.
Percent per sale This payout model is quite similar to the last one, but you get a percentage of each sale instead of a fixed fee per sale. That can be even more lucrative as the bigger the sale your investor makes, the higher commission you'll get from it.
Revshare It's an affiliate model where the forex broker shares a percentage of the revenue from the investor you promoted to them.
Hybrid Model This can be one of the best offers out there as it's a model where you get an offer with multiple payout models. For example, you could get an offer where you get both per lead and sale commissions.
So when picking the offers, I highly suggest you go with one that is per sale or the Revshare payout model. With them, you'll be able to get recurring revenue from each investor you promote the broker too.
Step-by-Step Guide to Start Promoting Forex Affiliate Offers
Now that you understand how lucrative forex affiliate marketing is, it's time to start taking action and start making money. Here's the guide for it.
Step #1 - Choose the Right Forex Affiliate Program
So you're ready to start promoting a forex affiliate offer? If you do, it's vital to pick the right forex affiliate program. So how do you choose the right one?
When picking one, make sure you choose the most reputable broker. While they might not be the most profitable ones out there, they have two benefits:
Morally Correct Decisions When promoting shady brokers, you risk making money from people getting scammed. However, that's not the only reason.
No Risk Of Losing Money You are almost guaranteed to get paid by reputable forex brokers. However, when a shady broker gets into trouble, they might not pay for your hard work.
So as you can see, it's essential to pick the correct one! However, sometimes, it isn't easy to distinguish between them. So we've given you a few tips to make identifying easier:
Look for Regulatory Compliance. When you're picking a broker, the first thing you should look for is their regulatory compliance. That helps you to see if it's reputable or not. For example, in the US, if the forex broker is a member of the National Futures Association, then it's a reputable one.
Check Reviews. Another thing you should look for is the reviews. So before you become the broker's affiliate, try to look at reviews on Google or YouTube if necessary.
Step #2 - Picking Your Promotion Strategy
When promoting your affiliate offers, you can go two ways you could go with it:
- Organic Traffic
- Paid Traffic
With organic traffic, you can make money for free by promoting it in different finance forums or by building an audience. However, that takes time. For example, if you're looking to promote your affiliate offer in a forum, you first need to become an insider of this group.
That means you need to post some valuable information there, without any affiliate links, to get the forum members' trust.
So the faster way to do this is by paid traffic. With it, all you need to do is find the right audience and then run the ads. However, as a con, you will need to have a bigger budget to keep the traffic flowing and sales coming in.
Step #3 - Create your Landing Page
Once you've picked your promotion strategy, it's time to create a place to sell your affiliate offer. For this, the best way is to make a landing page.
There are many tools for making it. For example, one of the most popular ones you can use is Clickfunnels. However, pick the one that fits your budget and needs. Then create a landing page that sells your affiliate offer.
🔰 To make your affiliate landing page even better, we've added a few tips:
Keep it Simple When promoting something, your objective isn't to bombard your audience with information. If it gets too long, they will lose interest and leave the site before checking out your link.
Speak about benefits instead of features When introducing your affiliate offer, be sure not to talk about its features. That's because features don't sell; benefits do! So, for example, if your broker has low fees, you should talk about how they'll keep more of their money in their pocket instead of just telling them the percentage.
Add a Call to Action So you've hooked them with your landing page copy. Good, now all that is left is to call them to action. If you don't, then people will leave your site.
The Best Performing Ad Formats in TrafficStars
If you decided to go the paid traffic route, you probably don't want to advertise it on Google or Facebook. Advertising there is expensive, so it's better to use an alternative ad platform, like TrafficStars.
However, not all ads are created equal. Some ad formats work better for affiliate marketing than others, so here are a few that work well:
Think of them as pop-up ads, but instead of appearing on top of the tab you were looking at, it pops under it. You won't need to create any ad creatives with it, as all you need is a landing page for it.
These ads are basically notifications that you get if you've allowed a website to send you push notifications. You need to make sure your ad copy is highly-converting to get any clicks with them.
These ads are ones that you see before a video starts. With them, you have to ensure that the first few seconds are attention-grabbing, so the viewer wants to keep looking at your ad and taking action. Check out more about benefits of pre roll video advertising.
Once a user showed interest in your product, but did not register or make a deposit, the best way to remind yourself is retargeting through banner advertising. Create video or animated banners to increase click-through rate and tell a little more about the offer.
As you can see, promoting forex affiliate offers is very lucrative. However, we recommend to have at least $500 for ads.
This way, you'll not only have more money to test different types of ads, but you'll be able to work with a personal manager who can help you achieve your goals faster.