For numerous people, Forex trading is a new way of creating wealth. Some think that it is too difficult to learn how this financial market, which is the largest in the world, works. Risk-averse individuals console themselves that FX trading is a rip-off.
On the other side of the spectrum, there is also a group of people who think that trading currencies is a peace of cake, so they use far too much leverage on a trade and lose everything.
Given the technical nature of the Forex market, there are many conceptual gaps that need to be bridged before the average investor will try currency trading. But wherever there is a gap, there is also opportunity.
The role of the Forex affiliate program
Given that the average person on the street has strong opinions about financial markets, which range from complete ignorance to misinformed hostility to infatuation to a genuine understanding of how markets work, your job as a Forex affiliate is to help promote trustworthy brokers and educate visitors to your website.
Regardless of the market, I like to think that the best affiliates are like teachers…they point out the value of the product or service they are promoting, compare it to similar things on the market, and provide people with truthful answers. If you think of yourself in that way, tailor your information to a particular type of person, and develop a reputation for being a trustworthy individual, people will visit your website.
You are entering a rather competitive arena with Forex, so if this is your first attempt at becoming an affiliate, be prepared for an uphill climb because it is a steep learning curve. We’ll discuss how to become a successful affiliate a bit more elsewhere on the site. For now, we are trying to talk about the rationale someone might use for entering this field.
Show me the money
Of course, this is the main motivator for most affiliates: The allure of a huge income based upon becoming an evangelist for Forex brokers. While the probability of succeeding in this domain is probably comparable to the percentage of people who make a living by trading, the compensation can be substantial.
There are basically two options for affiliate remuneration
1) You get paid a flat fee when someone funds their account.
2) You get paid a percentage of revenues generated from someone’s account.
Most people who start out, do the flat fee model…grabbing $100-500 per funded signup isn’t too shabby. Older affiliates typically go for the revenue share, since one or two large clients can bring in more revenue over time than the other model, which is based upon opening an account one time.
Forex affiliate advantages
Taking part in Forex trading affiliate marketing programs can be a superior way to receive a decent, supplementary income online or, in some cases, to totally replace your present income.
The Forex market has a worldwide presence and buying and selling currencies takes place in virtually all countries on this earth. This statistic alone indicates that there are more individuals to market to compared to other affiliate programs, thus heightening the possibilities of acquiring more sales simply because you have a substantial base of individuals to choose from.
Having said that, if you promote a plan that is available to a specific country, you will find a limited population to exert influence on. For instance, if you plan to promote a service that is only open to people in Europe, there will be a smaller number of potential traders to target. The foreign exchange sector attracts investors from every part of the world, which boosts your chance of achieving gross sales, provided that you are willing to do the work to reach them.
A further advantage of venturing into this industry is that you can expect to tap into the huge potential for generating profits, as compared to selling widgets on Amazon for a 4-6% commission.
Whatever your motive for becoming a Forex affiliate, VPSI.org will bring you the latest information about top brokers and their reputation as well as news about FX affiliate programs.