Forex Affiliate Programs: How to Choose The Best One

We all seem to have that one friend who is always into the newest ways of making money. In high school, when others were talking about girls and boys, exams, and parties, he was telling you that he is going to invest in the Forex market.

When you were talking about other currencies, you most likely had currency exchange in mind due to the planned foreign trip. For him, trading currencies has always been a way of making money.

But trading currencies isn’t the only way of making money on Forex. Another great opportunity for online entrepreneurs are Forex affiliate programs. With them, you don’t have to play the game, you have to convince others to join the game and get paid for it.

Forex affiliate programs are one of the evergreen niches of affiliate marketing. Why? Because the Forex market is bigger, older and more stable than the cryptocurrency market or other rapidly emerging markets full of financial novelties. More than that, this market is understandable by an average Joe, a point that should not be neglected.

So, no matter if you are just exploring possibilities to make money online or are already a seasoned affiliate marketer, dive in and discover how you can earn profits with a Forex affiliate program.

What is Forex?

Forex, or foreign exchange market, is a financial market established to trade currencies. Although it’s been mainly designed for banks and other huge legal entities in mind, everyone can trade on it. In fact, you’ve probably already done so when you bought another country’s currency prior to going on vacation there.

Forex does not have any specific geographical location, like the New York Stock Exchange located on Wall Street. It’s a purely digital place that enables currency trading. What’s actually getting people into Forex trading is not purchasing currency for a holiday but rather trading currency in hope for profit.

How do people make money on Forex?

On this market, each currency has a three-letter code assigned to it. For example, the US dollar has the USD code, Euro – EUR, and British Pound – GBP. The value of each currency can be measured only in comparison to other currencies. Typically you see currency pairs, where one currency’s value is being quoted against another.

1 USD = 0.70486391 GBP

Knowing the currency’s value, one can make money like on any other market: by buying cheap and selling high. To be more precise, there are three main ways of making money on Forex:

  • currencies
  • derivatives
  • contracts for difference (CFD)

For online entrepreneurs, there’s one additional way of making money: and that is by referring to affiliate programs of various brokers.

Who Are Brokers?

Although we’ve said that anyone can trade on Forex, this doesn’t mean that all people can do this directly. Common folks need a company that acts on their behalf and makes purchases according to provided instructions.

These companies are known as brokers.

Their customers are people that want to trade on Forex, commonly known as traders.

Brokers provide their customers not only with access to the market but also a trading platform, various insights and teaching materials, plus some other monetization options.

To sum up, having a broker is a necessity when one wants to start Forex trading. 

How Do Forex Affiliate Programs Work?

Most brokers advertise their services using multiple marketing channels, including affiliate marketing. Forex affiliate marketing works in the same way as affiliate programs of other companies: they reward a Forex affiliate marketer for each new paying trader that signs up for the platform. So it’s in your best interest to work with good brokers, as they’ll be more likely to be selected by future traders.

Selecting a good broker is not easy. But I’ll show you how to recognize one, so you’ll be able to recommend the best forex affiliate program to your visitors.

How You Can Make Money on a Forex Affiliate Program?

There are 4 main commission schemes that are used in forex affiliate marketing:

  • Revenue share
  • Cost per action
  • Cost per lead
  • Hybrid

The best one for you depends on the traders you find. Also, the commission scheme used by a given broker may differ between Forex affiliates, as they can sign various agreements. For example, the revenue share model is often used for long-term partnerships in Forex affiliate marketing. 

Shorter agreements or ones with unspecified time periods usually use the CPA or CPL models.

What Makes a Good Forex Affiliate Program?

There are a number of factors that you should take into consideration when choosing the best Forex affiliate program for yourself. Let’s go over each one of them.

Good commission rates

Brokers are often hesitant to reveal their full commission structure and use phrases such as ‘Up to $80 per lead’ without disclosing the lowest earning threshold.

However, after a sign up, the commission structure is revealed, and Forex affiliates can track their earnings from inside the platform. 

Most brokers pay for specific actions. It’s usually not just signing up to the platform but rather for topping up their account or earning some money. Be sure to learn what action is desired.

The bottom line is that no matter which Forex affiliate program you select, you will earn more money when you refer more paying customers.

Marketing materials

Brokers don’t expect you to do everything on your own. In fact, they really want you to succeed and they will go to great lengths to enable you to do that. This includes providing marketing materials such as banners or brochures, and sometimes even whole landing pages.

Good brokers offer you plenty of options to persuade prospective customers to sign in. Some may give you widgets that you can implement on your page. These widgets can show current trends or popular currency pairs exchange rates.

Everything to make your advertising more attractive.


Brokers deal with serious money. For regular folks, the idea of putting their entire life savings into an Internet trading platform is off-putting. You have to convince them that your partner is a reliable company.

To legally operate in a given country, brokers need to be registered in some sort of regulatory body whose jurisdictions cover this country. The more reputable this body is, the more credibility the broker gets.

Demo platform and good customer support

Your visitors are unlikely to be financial experts. Your job, as an advertiser, will be to reduce the feeling of being pushed straight into deep waters. What may help you is access to the demo account of the trading platform you promote.

Many brokers offer the option of taking a sneak peek at what it’s like to trade currencies. Having this at your disposal can greatly increase sign ups.

It’s the same case with good customer support that can ease the platform adoption for new users.

Additional monetization options

Trading currencies is usually not the only thing major brokers deal with. Most of them offer their customers an option for CFDs (contracts for difference) or derivatives.

CFDs are an instrument that enables them to increase potential profits without increasing the investment. In short, you make a bet that the price of a given commodity (or currency) changes in a certain way (goes up or down). If you predict correctly, you earn proportionally more than you would have by just trading this commodity or currency.

The downside is that potential losses can also be bigger than the investment. In fact, EU-registered brokers have a disclaimer on their sites that states that 73% of investors lose money on CFDs.

How to Make Money With a Forex Affiliate Program?

Having a good affiliate program is not enough. You also need some additional data that will help you increase the effectiveness of your advertising.

Forex brokers offer some basic reporting tools to their affiliates. They allow you to check how many people have signed up using your referral link or how much money you earned. This rudimentary reporting system doesn’t tell you much about how to improve advertising or who responds to your ads.

For that matter, you have to use an external ad tracker such as Voluum. It’s been designed from the ground up as a tool that can give you a head start in advertising. It can tell you what devices were used by those visitors that have clicked your ad. What country they were from and what language they used. On top of that, you can employ various path alteration or automation options to optimize your advertising.

Using an ad tracker is an industry standard and if you’re going against marketers that already use it, you’re already in a worse position.

Setting up tracking

The tracking setup is easy. Normally you would take the referral link that you got from your Forex affiliate program and put it under your ad. With an ad tracker in place, you put the referral link as an offer link in a tracker, create a campaign where you define several campaign options, generate a campaign link and put this link under your ad. This way all traffic will be recorded by Voluum.

The list of Forex Affiliate Programs

Below you can find the list of affiliate programs ordered by revenue. Each program comes with a short description that should allow you to make a good decision about who to promote. Remember, each program can be easily tracked with Voluum.

1. AVA Trade

The biggest broker in the world is actually a conglomerate of smaller companies scattered and registered in various countries around the world. The parent company is registered in the British Virgin Islands, while its sub companies have their headquarters in countries such as Ireland, South Africa, and Japan. Being regulated in several Tier 1 and Tier 2 jurisdictions makes it a safe place both for affiliates and traders.

AVA Trade comes with a plethora of goodies that can help you advertise: marketing materials including widgets, demo accounts, and even a mobile app. AVA Trade brags about indefinite cookie lifetime. What this means is that there is no time limit in which a prospective customer has to sign up in order to generate a commission. The time period lasts until a user decides to clear cookies manually or changes a browser.

The commission scheme is flexible, meaning that it is suited both for beginner affiliates that want to earn a fixed commission for each trader they refer or for bigger ones that can get a cut of a trader’s earnings. AVA Trade even has a scheme for master affiliates that refer other affiliates to the program.

The actual commission rates are revealed upon signing into the program.

2. CM Trading

CM Trading is a South Africa and Seychelles registered broker that leverages new technologies to accommodate both beginner and seasoned users.

It actually offers access to four separate trading platforms:

  • CM Trading Copycat, where users can follow veteran traders and perform the same operations as they do.
  • MetaTrader 4, one of the world’s most advanced and popular trading platforms
  • Sirix Web trader that offers a more simplified and automated access to worlds’ currency market
  • Guardian Angel, an overseeing and monitoring platform that aims to increase earnings and mitigate losses.

You can leverage this new tech with marketing materials localized in various languages. 

The commission scheme guarantees up to 5% earnings from your traders’ revenues plus additional income from sub affiliates. What CM Trading gives you, apart from marketing materials, is access to a robust reporting platform with live data. 

CM Trading does not offer a demo account for its customers. This doesn’t mean however that they are left on their own. The platform comes with plenty of educational materials, including blogs and webinars. Additionally, CM Trading customers can utilize its tools that aim to decipher market trends, predict changes and optimize decisions for newbies.

3. FBS Broker

FBS Broker consists of two legal entities, one for European residents, the other for international customers. The first one is registered in Cyprus, while the second one is in Belize.

FBS Brokers aims to be the “all-in-one” trading platform for trading the most popular currency pairs, along with precious metals and other commodities.

It provides its users with free educational materials and access to a demo account. Educational resources include video lessons, webinars, courses, and even an online TV channel

For its affiliates, FBS claims that they can get a cut of up to 70% of their referred traders’ earnings or a fixed CPA commission. Marketing materials include promo banners and ready-made landing pages, which can be a big head turner for affiliates that don’t want to deal with setting up their own pages.

4. Blackstone futures

Blackstone futures is yet another South Africa registered and regulated Forex broker. But unlike FBS Broker, it does not allow US customers nor it does not support islamic countries (swap-free accounts). If you can work without this, Blackstone Futures may be a great fit for you.

They offer their customers access to various trading platforms that have been tuned to be easy to use but at the same time, full of features. The platforms come with educational materials like courses or articles.

Their main message is trust.

For its affiliates, Blackstone Futures has three commission schemes (revenue share, CPA and hybrid), marketing materials including landing pages, and a powerful reporting platform.

5. Tickmill

Tickmill is a British-registered trading platform that allows its users to make profits by investing in the Forex market plus several other options, such as precious metals, stocks or bonds. 

Tickmills offers its users a lot of content to explore. Apart from regular courses and webinars, prospect traders can read ebooks. 

Like most of the programs from this list, Tickmill rewards its affiliates with a percentage of their referred traders’ earnings or a flat action-based commission. It gives access to a demo account, so future traders can learn their craft by doing, not only reading.

The Joys of Investing in Foreign Currency

Going back to our imaginary friend mentioned in the beginning, we can see that Forex is usually not a one time adventure for these kinds of people. Cryptocurrency frenzies come and go (by the way, if you want to check out our article on crypto affiliate programs, you can find it here) while Forex trading is always popular.

It is a more mature market, more predictable, more regulated and safer. And it will last until the whole world switches to one currency, which is not going to be anytime soon.

Investing in the Forex market is especially smart when the interest rates are low and the capital is being eaten by inflation, as is happening right now in the US

This makes Forex affiliate programs a clever way to protect one’s budget. There are few angles that work better than “protect your money and make even more” backed by real economics.

Or maybe you have a better angle. You know what? Test it! Present two variations of an ad to your audience to see which one works better. Or use different messages for different parts of your audiences. Maybe Apple users have different priorities than Android users? Maybe people on Wifi are more likely to be at home and therefore more keen into considering a serious offer?

Voluum enables you to do just that and much more. Each new approach results in new sets of data that allow you to tailor your advertising techniques. Use Voluum to turn a good Forex affiliate program into a must-have offer.

Benefit from Voluum now!

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