The last few years have seen some really unusual market conditions. The global COVID-19 pandemic and associated lockdowns almost halted parts of the world’s economy (while simultaneously boosting online retail and tech stocks). Quantitative easing and massive government spending fueled inflationary pressures while digital currencies like Bitcoin rampaged. Gold surged and oil prices confounded government energy policies.
2023 promises traders and investors another year of uncertainty and opportunity. The non-stop global Forex (FX) markets are expected to yield huge profits for successful traders, and high profits for successful forex affiliates. If you plan to make money as a forex affiliate in 2023, there are 5 rules that will give you a rock-solid foundation for growth. Before we explain the 5 rules (and the world of Forex trading), it’s worth quickly exploring some of the major currencies that may attract new traders this year.
Predicted Top Forex Assets in 2023
Today Markets is currently offering the following top Forex assets with up to 400:1 leverage and 0.25% margin. They are predicted to attract the highest trading volume in 2023. You can build high-converting marketing campaigns around these core currency pairs, and add other emerging or majors like the CHF, CAD, or CNY whenever they become newsworthy.
Getting Started as a Forex Affiliate
The forex affiliate industry pays some of the world’s highest commissions but is highly competitive. All forex affiliates are competing for quality traffic and the lucrative income that it generates.
If you want to consistently attract high volume, high-value traders – and get them clicking on your links – you need to be an effective forex marketer. Fortunately, the basic skills are easy to master.
If you integrate these five primary rules into your forex affiliate marketing, you’ll have an excellent foundation for rapid growth. You’ll also avoid some of the common mistakes that new forex affiliates sometimes make.
Rule 1: Forex marketing is dynamic and ever-changing
Online forex trading is dominated by technology, whether trading platforms like MT4 and MT5, add-on systems like MAM, analytical tools, trading bots, social trading, or any other innovations.
The technology is constantly changing, and brokers compete to launch new platforms, integrate new trading tools and improve the user experience. The financial markets are also dynamic. New coin offerings and initial public offerings create new financial assets.
Financial and global events cause market volatility, creating trading opportunities and attracting new traders. New technologies and regulatory changes can improve market access and open new markets for brokers.
The field of online marketing is also continually evolving and changing. There are new social media channels, better analytics and algorithms, new media technologies, and constant innovations on Facebook, Google and other major high-tech giants.
You don’t have to be a fintech geek or an online marketing expert, but successful forex affiliates keep abreast with changes and identify time saving and money-making opportunities. The basic rule of forex marketing is that if you’re willing to learn – you’re ready to earn!
Rule 2: Successful forex affiliates promote regulated brokers
Successful forex affiliates can make a lot of money in a short time. It is one of the world’s best money-making ventures. The problems begin when unwary newcomers sign up to promote unregulated forex brokers. Not every unregulated broker is a crook, but you can guarantee that every forex cheat is an unregulated broker.
You might think that this won’t affect you as a forex affiliate; you’ve referred a client and received a commission. What happens between the client and the broker isn’t your business. Ethical considerations aside, it’s very much your business. Here’s why:
- Your goal is to negotiate a flexible deal and receive long term profits – a passive income – from traders who stay with brokers on a long term basis. You can’t do that if the broker burns the trader and he leaves after a short time.
- You should be focused on building a solid reputation for your website and social media channels. You want satisfied traffic that gives you good feedback and positive endorsements.
- Any broker that will rip off its traders will eventually rip off its affiliate partners – that means you!
Rule 3: It pays to promote multiple asset classes
Too many forex affiliates focus exclusively on forex. That’s understandable, as many online CFD brokers promote themselves as forex brokerages. There are only a limited number of currency pairs available for trading as CFDs. Most online forex traders open positions on just ten major currency pairs – combinations of the US dollar, Canadian dollar, British pound, euro, Swiss franc and Japanese Yen. A typical ‘forex broker’ offers traders over 1,000 assets. These include cryptos, stocks, commodities, bonds, indices, EFTs and options.
Use your analytics to see which marketing creatives and ad campaigns work best. Try promoting all the asset classes and promote the concept of risk management and diversified portfolios. You can use these themes to create helpful feature articles and SEO blog posts.
The other advantage of promoting multiple asset classes is that you’ll have many more financial events and news stories to promote. You’ll be able to exploit big, newsworthy names like Tesla, Apple and Google whenever new products move their share prices. Effective use of SEO and advertising will draw a broader range of potential traders into your online network and expose them to your links.
Rule 4: Forex Affiliates work systematically
If you want to become a top tier earner quickly, you need to work systematically. It’s not particularly hard and is more a case of being well organised.
You need to be fully in control of your channels and manage them as a business. This means checking them at appropriate intervals and regularly updating your marketing materials. You also need to engage with other people online. That might be as simple as liking a comment or responding to a post or question on Facebook. Be helpful and use the opportunity to post links.
Plan, manage and optimise campaigns. Good analytics is everything for successful forex affiliates. Take every opportunity to extend your reach. There are two kinds of people online; potential traffic and people who can lead you to potential traffic. Develop robust and persuasive online personas and make your voice heard on as many sites and channels as possible.
Rule 5: Work closely with your forex partner program
If you’ve signed up with a top-quality forex affiliate partner program like Today Markets Partners, you’re already halfway to achieving your financial goals. They deal with some of the world’s biggest and highest-earning forex affiliates and have over a decade of experience.
Build a strong relationship with the Forex partner program and let them help and advise as you grow your business. They’ll keep you updated with all the latest technical developments, new assets and improved trading terms (like spreads and rollovers) at the brokerage. The partner program can also provide original marketing materials.
What countries can forex affiliates bring traffic from?
Today Markets is available in over 30 languages and has long term traders from every inhabited continent. The brokerage is regulated by nine different international regulatory bodies, making it highly attractive to severe traders worldwide. If you have language skills or access to a reliable linguist, you can expand your marketing campaigns to different countries and rapidly increase your traffic. Even if you’re only going to use English, you can still adjust your creatives to appeal to English speakers in other countries. Often it’s just a case of simplifying content to be more straightforward to read for non-native English speakers. Today Markets Partners will give you a complete list of countries that Today Markets accepts traffic from.
Can I be a forex affiliate if I have no marketing experience?
Yes – absolutely! Some of the highest-earning forex affiliates started without any real marketing experience. They had websites that were attracting the kind of people who were interested in forex. There is nothing fundamentally tricky about forex marketing. You can quickly learn enough to start earning high commissions. As your knowledge and skill improve (which it will do soon), you’ll bring more traders and earn more commissions. Many marketers – in all industries – are self-taught. There are loads of free resources if you want to improve your knowledge. Today Markets Partners will help you with landing pages, widgets, banners and mailers. They will also offer plenty of good advice.
Is forex affiliate marketing a recession-proof business?
Yes, pretty much. You could argue that more people are attracted to forex trading in a recession. Either they want to make extra money, or they lose trust in other forms of investment. The international forex markets generate trades worth trillions of dollars every day. It would take a massive global crisis to put a significant dent in that kind of market. We may be entering an inflationary period after the COVID-19 pandemic, but that is unlikely to affect your chances of earning a high income as a forex affiliate. One of the main advantages for forex affiliates is that their business has minimal overheads and doesn’t require capital. Once you’ve earned your first commissions (usually during the first month), you’re generally already in profit.