Offering a competitive Forex affiliate program 

Affiliate marketing is an excellent business when it’s done properly. Affiliates get paid for development, content creation and promotion of their own site or site network. They retain a high degree of control over their business, deciding who to work with and what to focus on. Their focus and drive typically outputs into income later down the line. There is the opportunity to work smart and for those that get it right, there can be tremendous long-term income. 

For advertisers, in our case Forex brokers, it’s an excellent method to gain exposure while only paying for the performance of ads. In fact, if brokers structure it with the right deal, it can be like free advertising as only a percentage of company profit will get paid back to the affiliates. It sounds like a dream and every broker should just focus on their affiliate program. But of course, in practice, for those running Forex affiliate programs it’s not so simple. The affiliate deals have become super competitive with affiliates only agreeing to advertise brokers offering the best deals. The deal is not the only thing considered though. Affiliates will also only want to work with brands that convert and provide the right affiliate tools they need to get conversions. Let’s break it down into what affiliates see as important and how brokers can offer attractive affiliate programs: 

The Deal 

A perfect deal for a broker would be paying affiliates in volume-based rebates. Unfortunately for brokers, that doesn’t always cut it for affiliates who have found CPA deals to be significantly more profitable. In addition, CySEC and other regulators have identified that in specific circumstances, volume-based payments can lead to a conflict of interest, making this remuneration method prohibited by certain European regulators. Nowadays, to run a successful affiliate program, Forex affiliates are hungry for the highest paying CPA deals they can get. Some brokers are known to offer up to $1,200 per client, which seems unworkable as the minimum deposit can often be less. When you look closely at these programs, you will see qualification criteria, country tiers, excluded countries, and accelerators apply; meaning affiliates might not receive the full amount for every depositing client. For some referrals they might even make nothing at all. However, the headline CPA amount offered can be enough to entice the right affiliates. 

In order for a broker to offer a competitive deal, they need to provide a headline CPA amount that will catch the eye of the affiliate, while also protecting themselves from overpaying with various terms, which we will go over below: 
 

Qualification criteria – typically refers to a minimum number of closed lots and/or a minimum deposit within a timeframe to qualify for a CPA to be paid out for a referred client. 

Country tiers – the broker will offer groups of countries, which will all have different CPA payout amounts. Regions with a higher client value will payout higher CPAs than those with lower client values, which makes perfect sense. 

Excluded countries – certain countries may be excluded completely from the CPA program due to various reasons such as a concentration of very low value, toxic clients, or CPA abuse. 

Accelerators – affiliates will receive higher payouts per CPA if they introduce more clients in a month, allowing the brokers to advertise a bigger CPA deal (provided criteria is met). 

For a broker to advertise a competitive CPA deal they must consider all the above elements and come up with a plan that works for both the affiliate and the broker. 

The Brand 

While a good affiliate deal is key to signing up an affiliate, it’s not the only thing an affiliate will consider. They are also interested in the brand that they are advertising for various reasons: 

Brands convert – Affiliates know that well-known reputable brokers will convert better than brokers that are not so recognized or are only registered in offshore jurisdictions. It’s no good getting paid $1,000 for a CPA, when another brand paying a $500 CPA converts 4x better based on the number of clicks. 

Credibility by association – It’s also not just about numbers; some affiliates only want to list the most reputable brokers on their site as they feel it enhances the credibility of their own site. 

Reputation – Affiliates like to know that they will, in fact, get paid if they happen to rack up many thousands in commissions quickly. If they are dealing with a broker that has a good reputation and is regulated in multiple jurisdictions, they feel much more confident about being paid, rather than if they were dealing with an SVG broker. 

An affiliate manager cannot do much about how they are perceived, but it’s important to understand your position and what you are up against. A well-known broker may be able to get away with offering lower CPAs or slightly less favorable terms, as affiliates will be more eager to work with them. Meanwhile, smaller or less prestigious brokers will need to step up their game in terms of the deal or assurances they offer. 

Affiliate Portal and Tools 

The most successful affiliates demand the right tools to maximize their partnership and drive revenue. The cornerstone of any affiliate program is the affiliate portal, which serves as its operational hub. Additionally, creatives, referral links, and real-time, detailed reporting are crucial. Let’s explore each of these in more detail. 

Affiliate portal/software – The affiliate portal serves as the dashboard for affiliates, allowing them to login regularly, track their generated revenue, check reports, retrieve banners and affiliate links, and request withdrawals. 

Banner library – it’s important for affiliates to have on-demand access to approved banners in all common sizes. These are typically housed within a creative library inside the affiliate portal. 

Affiliate links & deep links – Affiliates must be able to retrieve affiliate links directly from the portal. They don’t just need links to the registration page, but also to the homepage, different language versions, inner pages of the website, and landing pages. Affiliate links that redirect to non-standard pages are known as deep links, which can be critical for affiliates. However, many affiliate programs fail to offer them, making deep links a low-hanging fruit for improvement in any affiliate program. 

Detailed reports – Transparency and trust are essential to affiliates. The best way to foster this is by providing detailed reports, including registrations, FTDs (First-Time Deposits), deposits/withdrawals, trading statements, and earnings for all referred clients. If this aspect of an affiliate program is lacking, affiliates are unlikely to prioritize the program.

Attracting top affiliates

To attract top affiliates, brokers must ensure their affiliate portal includes all the essential features that help affiliates perform effectively, build trust, and enjoy a seamless user experience. 

Experienced affiliates often understand their traffic better than brokers do—they know that users are typically seeking information about a broker before they decide to sign up. If the only option is to send visitors to a registration page, conversion rates tend to suffer, as potential clients prefer to evaluate the broker before committing. This makes deep linking capabilities in an affiliate portal highly beneficial. 

For instance, an affiliate may have a high-traffic page on their website dedicated to Islamic accounts. To maximize conversions, they need the ability to direct visitors to the Islamic account page on the broker’s website, rather than the homepage or a registration page. Affiliates understand that linking to a specific, relevant inner page that gives the user the information they are looking for before signing up will generally lead to more conversions. 

In addition to the above example, experienced affiliates often seek a variety of landing pages to redirect traffic to, as well as the ability to target content in specific languages. In some cases, affiliates may want to promote pages featuring contests, bonuses, account types, payment methods, office locations, and more. 

Interestingly, some Forex affiliate portals lack flexibility in this area, often providing only a registration page link. This is likely because the affiliate marketing model hasn’t been fully embraced, with many systems optimized for traditional Introducing Brokers (IBs), who typically share registration links with clients via email or WhatsApp. 

Providing affiliates with the right tools in our highly competitive niche is crucial. However, understanding their exact needs can be challenging unless you have a deep knowledge of affiliate marketing or firsthand experience as an affiliate. 

We encourage brokers to carefully review their affiliate offerings and ensure they provide the right deals and facilities that affiliates need to successfully promote their firm. 

Since 2012, PLUGIT has been providing dependable and robust affiliate portals, gaining extensive experience across a wide range of client needs and scenarios. With over a decade of expertise, we understand what it takes to give you a competitive edge when working with web affiliates. Whether you’re looking for a Forex CRM or an affiliate portal, you can trust PLUGIT to deliver the tools and solutions that drive results. 

Ready to elevate your affiliate program? Get in touch to learn more about how our affiliate module can support your growth.