The Forex Niche: What You Really Need to Know
Joining the ranks of forex affiliate programs could be a smart move, especially if your traffic comes from US players. While most of iGaming is under a state of prohibition in the US, knowing the best forex affiliate programs to promote could be your ticket to monetizing your American traffic.
So what do forex affiliates really need to know about this niche? Here we reveal forex market trends, demographics, top performing forex affiliates, and the best forex programs.
Forex Market Trends
Currency exchange trading has been around almost as long as currencies themselves. So while forex is far from a new phenomenon, forex affiliate programs are still in their nascent phase.
There remains for forex affiliates a big opportunity to spread the word to gamblers about forex trading. Due to leveraging, traders can begin swapping thousands of dollars worth of forex contracts for a very modest deposit amount of just $100 or even less.
However, affiliates should caution players against the volatility of forex trading on leverage. Forex affiliate programs pay out based on revenue generated from traders, so educate your players on how to stay in the game by preparing for volatility.
Affiliates can expect to create a conversion for approximately every ten leads they send to a forex program. Leads are harder to come by usually requiring 500-1,000 unique visitors to your site in order to generate one lead. As you can see, accumulating traffic is an important component to becoming a successful forex affiliate.
The forex trader segment is expanding beyond the confinement of professionals and hedge fund managers. Forex is popular among the following demographic groups:
- Asians (particularly Indians), Western Europeans, Canadians, and Americans
- men (very few forex traders are women)
- often have a background in some form of iGaming (sports-betting and/or poker)
- hard working, frugal, and likely to have accumulated a modest nest-egg resulting in a large average deposit
- target demographic group is generally 30 and over
- analytical and prone to introversion, content with sitting in front of a computer for hours to meet challenges in understanding
Top Performing Forex Affiliates
Sometimes to become the best, you’ve got to take a page out of someone else’s playbook. So which forex affiliates are knocking it out of the park these days? Here are a few examples:
- ForexPros – the most impressive forex information portal on the web. With a sub-5,000 Alexa rank, you can bet their affiliate revenues are handsome.
- 100ForexBrokers – it’s an ugly site, but 100ForexBrokers.com brings in a lot of traffic with their strong SEO practices and promotions targeting forex traders.
- DailyFX – another one of the major forex affiliate players is DailyFX.com. They too have a sub-5,000 Alexa rank and drive affiliate revenues on the basis of their regularly updated, world-class information for forex traders.
Best Forex Affiliate Programs
Here’s a rundown of some of three great forex affiliate programs to promote:
1. eToro. eToro is touted as one of the best forex operators due to their philosophy of keeping it simple. As forex trading expands in popularity to more people, eToro realized the need for a trading platform with a limited amount of noise. eToro’s unique platform offers a user friendly interface that converts well. CAP affiliates receive 50% revenue share on the first three months.
2. ReferPartners. Promote both a forex trading platform (ECMarkets) and a binary options site (optionFair) by signing up with ReferPartners.
3. RushBucks. Through TradeRush, traders can swap not only forex currency pairs but also 60 second binary options.
Hop over to our forums for more inspiration on best forex affiliate programs.