So you’re thinking about joining a forex affiliate program. Maybe you’ve read success stories of social media content creators and finfluencers making money by inserting broker links into their content.
Now you’re thinking: Is it actually worth getting into? Or is it an over-hyped side gig? This guide will provide some clarity:
Rapid Growth of the Forex Market
First things first, how did the foreign exchange market and affiliate marketing even intersect? The foreign exchange market is the world’s largest and fastest-growing financial market. That being said, it is pretty complex. Between currency pairs and leverage, it became difficult for brokers to reach a wider audience.
This is where forex affiliates came in. They act as intermediaries: They help brokers acquire new clients and guide clients throughout the process.
The rapid growth of the forex market has created a win-win situation for both brokers and affiliates.
How Forex Affiliates Earn
Like any side gig, the earning potential is of utmost importance when it comes to forex affiliate marketing. Reputable affiliate brokers offer competitive commission models. Two common models are:
Cost Per Action (CPA) Commission
CPA is a one-time payment model, where affiliates earn a fixed amount every time they complete a referral. The more referrals you bring, the higher your commission.
Revenue Share (RevShare) Commission
With RevShare, affiliates earn a percentage of the revenue shared by their referred clients. The commission percentage depends on the affiliate’s social media reach and engagement rates.
Benefits of Joining a Forex Affiliate Program
Here are four standout reasons that make forex affiliate marketing worth getting into:
Passive Income Stream
Forex affiliate marketing can help you build a steady passive income stream. Yes, you have to invest time and money into basic forex concepts and creating engaging content. But once you’ve established yourself as a trustworthy source of advice, things will become much easier.
Unlike traditional passive income streams, where you need consistent effort, the best trading affiliate programs allow you to achieve long-term earning with moderate effort.
High Income Potential
Brokers offer competitive commission rates to affiliates who create reliable, trustworthy, and original content. You can tackle complex investment and trading topics with adequate research, boosting your earning potential.
Flexible Working Hours
The foreign exchange market is open 24 hours a day. This gives affiliates the flexibility to work or post content anytime they want.
With a flexible working schedule, you can easily manage other tasks like your full-time job.
Mentorship Opportunities
Affiliate programs connect you with industry experts, both in forex and affiliate marketing. This will help you polish your skills.
Moreover, reliable affiliate programs offer a dedicated account manager who will help you optimise campaigns. Lastly, you can attend exclusive webinars to connect with industry experts.
Side Hustle vs. Full-Time
The question arises: Can forex affiliate marketing replace your full-time job? Well, not as easily as you would like. Affiliate marketing requires patience and consistent effort.
However, if you’re willing to treat affiliate marketing as a business and aim to build long-term connections, the earning potential is huge.
