Today online financial markets such as forex, equities, and commodities are one of the most highly transacted products on the Internet with millions of investors and participants. Attracting new customers on a market that is as developed and as competitive as the retail forex one can be an arduous and expensive task, therefore many brokers rely on outside help for that. We are speaking of partnership programs – forex affiliates, introducing brokers, etc. Ultimately, the goal of all of them is the same: to bring more customers to the brokers and to get rewarded for that.
IB (Introducing Broker) partner, could be a person or a group of people or a company, who are working on creating a client base of active traders. IB partner gets all necessary software, support, advises and directions for the attracting process, or he can use their own unique method. The result is that IB getting commission based on a completed trading process of their clients. The more clients and more trading operations completed, more commission getting IB partner. Sounds like you just doing advertising. There is only one huge difference between those, who are doing advertising and IB partners. There is no fixed commission rate. The volume of your income keeps growing with no limit.
Both affiliates and IBs are partners with the broker firm, but they have different roles. For example, as a forex affiliate you could simply put up an ad for some Forex company, and you could make money per referred trader based on a CPA (cost per action) or revenue share model. Affiliates simply refers their clients, and have no real obligations after that. Affiliates can easily automate the process of recruiting, while this is much more difficult for IBs. On the contrary, IBs will usually have to provide services to the clients they have referred.
Forex affiliate programs indeed yield lots of rewards. However, apart from increasing the possibility of earning as much as you can, it has increased the competition too. Therefore, if you are looking to enter into a forex affiliate program, make sure that you have prepared yourself to work hard under all circumstances. Be patient and your hard work will indeed be rewarded in the long run. Best forex affiliates make more than traders. Let’s say you can attract 20 clients per month and each client brings you commission of 30-50 USD. Then you get 800 USD per month while still getting your regular income from work, trading or business.
During the past 10 years, affiliate marketing has become a very important aspect for every single Forex broker, in order to reach a wider audience (clients), to increase sales and succeed. Forex Brokers are always keen on acquiring new partners and affiliates to bring them new clients, the reward or commission for Forex affiliates has also become competitive among many Forex brokers due to the high popularity of Forex affiliate marketing. By now, Forex brokers pay the amount of 3$ up to 15$ or even more per each traded lot to their affiliates and partners.
