How to Earn Passive Income with Forex Affiliates
Online trading is getting even better with the internet industry showing no signs of losing momentum. Forex trading is on the front foot of all, and the market is still expanding with several retail traders getting in and making income.
However, did you know that you can still make money in the forex market without being a trader? You read it right, some sort of free lunch. Online affiliate programs in the forex market are all you need to earn passive income which over time you can establish and make it a full-time business.
What’s Forex Affiliate Program?
The forex market works in a way that every trader has to sign with a particular forex broker who facilitates the trades. These brokers are the ones that offer the affiliate programs whereby you can earn by just referring folks to join the broker. Easy, right?
Therefore, the first step is always to find the best and reliable broker with the right affiliate program. After signing up with the broker, you’ll be responsible for leads into the broker’s website by offering some attraction insights.
Brokers offer different affiliate programs, and you, therefore, have to choose the kind of program you want.
Types of Affiliate Programs
There’re a few options that you can choose, but there are three main affiliate programs that can be considered;
This happens when one decides to open a filial branch to being part of the broker’s brand. The main activity is offering education to those seeking brokers as well as revealing the broker’s main points to them.
The target population is primarily those from the affiliate’s region that want to have an in-depth about investments and rewards. Teaching can be done via seminars or educational materials.
- Introducing Broker
This is another possible option that most affiliates are using. The reason being, it’s straightforward and effective. In the system, you get a referral link from your broker and then your work is only placing it all over you want where you’re operating your affiliate business; social networks, websites, and blogs.
- White Label
The white label option is arguably the best opportunity for starting a successful business. It’s a partnership type meant for companies that want to provide some brokerage services in the same brand. The fact that the said company doesn’t have the knowledge or resources, it looks up to the broker for software solutions, quotations stream, and other materials.
Therefore, the result is getting a new company new for customers, but old in structure as the former broker only opens a company with a different name and intentions on the forex market.
As an affiliate, the primary objective is to gather more folks and to direct them to the broker, and in return, you earn your money.
But, what are the effective ways to earn from forex affiliate programs?
Basically, there’re two effective methods that you can earn from forex affiliate programs, and include the following:
- Revenue Share
If you need a lifetime source of income, then the revenue share option is the one to consider. With this option, you can earn some money whenever your leads make trades. Depending on your deal, your revenue could be anywhere between 5-65%.
Therefore, if your leads make constant trades, then your revenues would be undoubtedly lucrative and can last for an extended period. A lifetime program means income when any leads make a trade. However, ensure that you apply best-negotiating tactic to allow long-term earnings.
- Cost Per Acquisition (CPA)
The CPA way is whereby you earn a commission depending on a particular activity agreed with your broker. For instance, a broker can suggest that any lead should sign and then deposit some minimum amount and then you earn a commission when that happens.
Therefore, it means that if all your leads only sign up without making any deposits, then you’re not able to earn any commission. Hence, you need to make it clear for your leads what’s required of them when joining the broker.
Earning money via the forex affiliate programs is indeed some kind of free lunch. However, it’s not that easy as it may seem because it requires patience and understanding of the basics. But once all is said and done, affiliate programs are the best way to earn passive income without even making a trade.