Many commercial products you will find online are sold to the far corners of the world using affiliate programs. These affiliate programs give you an opportunity to make money from commissions that are earned by simply getting someone to buy a best-selling product or service. These affiliate partnerships are usually a win-win situation for both the product owner and the affiliate. The product owner is able to reach places and new markets previously inaccessible to him or her, and the affiliate can simply take a good product that he or she did not create, offer it for sale and earn good money from commissions.
Forex signals affiliate partnership programs employ the same principle and they can be very profitable. Over the last 25 years, retail forex trading has caught the attention of millions of people around the world. The difficulty in success in this market (just 5% of retail traders are consistently profitable) create a great business opportunity for those who have the trading skills that can make forex a profitable venture. Therefore, forex signals services which deliver profits are highly sought after by traders worldwide.
Forex Signals Service Providers & Their Performance Ratings
The forex market has become even more alluring as the world economy has been badly affected by the coronavirus pandemic. The COVID-19 pandemic has stalled virtually every offline economic activity and therefore closed off avenues through which people earn money. The only booming industries right now are the ones which are done online, such as forex trading. In fact, money continues to be made in the forex market day in, day out and the pandemic has produced even greater opportunities. Many forex firms are noticing a large increase in their sign-up rates as desperate people who never looked the way of the financial markets before are now seeking new ways of making money. A forex signals affiliate program is one of such ways and it does not even require the affiliate to possess trading skills. If you can market a product, present it in a way that convinces people to buy, they will buy and put money in your pocket. If you ever wanted to make money as a forex signals affiliate, this is probably the best time to do it.
What is a Forex Signals Affiliate Program?
A forex signals affiliate program is one which simply directs people to sign up to receive profitable buy and sell signals to trade the forex market. These people do not need to do any analysis on their own and do not even need to have trading knowledge. If they can follow instructions and know how to use their computers or smartphones to implement the signals (which can be learnt in 30 minutes), then they can be on their way to making money from trading the forex signals they receive. Your job as a forex signals affiliate is simply to show the prospective market that such opportunities exist and that they can make money from forex signals. Your reward is that when an individual signs up to such services, you get paid a commission.
Forex signals affiliate programs can be a very good way to earn money from the forex market. This process requires selecting a forex signals provider that offers an affiliate program and also a good performance rate in trading forex. There are millions of forex traders who are looking for providers to teach them how to trade forex all the time. But there are many more who prefer to have all the work done for them. All these traders want is to copy the entry and exit signals that are generated, so they can replicate same on their accounts and hopefully get the same results as the main signals provider.
Of course, there are many signals providers who claim to know how to trade the market, claim amazing performance rates for their signals services, but who in reality, are no better than the gullible traders who they want to hoodwink. As the middle man that is going to match providers of forex signals with the end consumers, you are most likely going to be the person in the eye of any storms generated by bad performance of a signals provider. That is why it is very important that you select the best forex signals affiliate programs out there. You have to know what it takes to generate these signals. You also have to know how to check each signals service for performance. You must know how to separate the wheat from the chaff. That is what this article is all about.
What Should A Good Forex Signals Affiliate Program Possess?
You are in the forex signals affiliate business to make money. But you cannot afford to make money for a short while, and then have a scandal taint you for life. The only way to ensure that this does not happen is to make sure you know what a good forex signals affiliate program should be. What kind of attributes should such a forex signals affiliate program have?
- A forex signals affiliate program must have profitable trading history
Profitable trading history that spans at least one year is a must-have for every forex signals service provider. In addition, there must be a way for users to independently verify and authenticate all results that are claimed by the provider. This is where independent third-party websites that automatically sync with the forex trading accounts of such providers come in. By automatically syncing the results of the forex account with the analytics platform, it is possible to get an immutable record of trade results and trading history that is immutable and sacred. The most popular of such providers is Myfxbook. Myfxbook allows for independent analytics of the entire trading history of a forex account and provides the best possible way to screen several forex signals affiliate programs. This allows you to pick the best and work with the best. There will be more about the selection process using Myfxbook later in this piece. It is said that a picture is worth a thousand words. In this case, a picture is actually worth thousands of dollars in affiliate income.
- Select the Program Which Has a History of Paying Its Affiliates
This one is actually a no-brainer: you are in this to make money. Therefore, you should go with a forex signals affiliate program that actually pays its affiliates. There are online forums where you can obtain information about certain forex signals affiliate programs. If there is a program that does not pay its affiliates, the word will go round. The internet has made the world a very small place, so you can always get information about the forex signals affiliate programs that pay and those that do not. Furthermore, it is expected that a forex affiliate program provider should be able to provide various payment channels so that no matter where you are in the world, there should be a payment option that works for you on the affiliate platform.
- Select a Forex Signals Affiliate Program With Several Compensation Models
Forex signals affiliate programs will offer compensation using several models. Some will offer payment on a Cost-Per-Action (CPA) basis, in which case you get paid a fixed fee when the client you bring to the table makes a deposit into the account on a brokerage the provider works with (i.e. free signals, but requires opening an account with a preferred broker). A different CPA model is used for forex signals services where a subscription is charged. In this case, you get paid a fixed fee by the signals provider (not the broker) when the client pays a certain amount in subscription fees. This CPA model typically operates where the forex signals service runs as a copy trade service.
There are also compensation models in which the referrer is paid a compensation based on the number of pips traded by the referred trader, or based on the trade volume of the referred trader. This last option usually has a graduated system of payment where more money is paid to the affiliate if their clients trade larger volumes. There is also a two-level affiliate payment model where a super affiliate gets paid from the spread revenue of both first-tier affiliates (users who are directly recruited and who then become affiliates themselves), as well as from the subsequent recruited subscribers from the first-tier affiliates.
You know your strengths and weaknesses when it comes to being able to sell the service to your circle of friends or even to strangers. You should know what compensation models work for you. You also know your target market and where you could possibly source clients from. Therefore, you should choose a forex signals affiliate program that offers various compensation models, which now allows you to decide on the one that works best for you. How does this work?
For instance, you may be the kind of affiliate who has a lot of friends that do not have the capacity to trade with large 5-digit or 6-digit figures in their accounts. These may be the kind of folks who can only muster a few hundred dollars as trading capital, but could be happy to pay some sort of subscription fee.
- Select a Forex Signals Affiliate Program With Great Branding Tools
Marketing and branding is at the heart of your success. A forex signals affiliate program involves the marketing of such a service to a prospective consumer and most times, the first impression matters a lot. How will a user be convinced to sign up with a service that actually makes money from trading and claims to be offering profitable trading signals if the marketing materials the user comes into contact with look shambolic and uninspiring to the eye?
This is why it is important to choose companies that have invested heavily into promotion and branding tools that have high conversion rates. This way, you would not have to start creating your own promotional tools afresh, which takes up a lot of time and energy. Besides, using the company’s promotional materials ensures you have access to materials that have already been proven to convert customers in the past. This helps you hit the ground running with your marketing campaigns. Time and creative energy is a scarce resource. You need as much of these two as possible, so having access to great branding and promotional tools does much of the work for you.
- Choose a Forex Signals Program that Offers a Backend for Campaign Tracking
As much as possible, get a forex signals affiliate program that provides you with a backend for tracking your campaigns. This backend usually contains a lot of materials that help with campaign analytics. You can in an instant, know what marketing method is outperforming others. You can know how well a campaign is doing, where you are getting visitors from your online marketing efforts, and other such relevant information. This way, you have information you can use to improve your marketing campaigns to make them successful. You cannot be operating blind without such information…not in 2020.
These are some of the things you need to ensure if you want to profit from forex signals affiliate programs in 2020.
Important Information: Who Are Those Best Positioned to Make Money from Forex Signals Affiliate Programs?
If you desire to make money from forex signals affiliate programs, you need to understand that some affiliate will have an edge over others in terms of being positioned to generate traffic, attract clients and ultimately, get paid. Those who are best positioned include:
- VPS Hosting Providers
- FX education providers
- Instagram influencers
Also Read: How to Promote Forex Affiliate Links
These are avenues that allow people to congregate and get offered service related to all forms of trading. If you can attract traffic to your site, it becomes easier to engage your site or page visitors and convince them with proofs on why your forex signals affiliate program will make them money.
So as you seek to become a forex signals affiliate, ensure you can position yourself into one of the service channels above to get more clients.