The dawn of a new year is usually a time favouring new plans, new ventures, new undertakings. Therefore, if your new year’s resolutions include an attempt to raise your earnings and income, then perhaps it is time that you focused your attention on forex affiliate marketing, since it is proven beyond doubt that promoting forex and binary options brokers comes with very high payouts. If you are already an affiliate in other industries, binary options and forex affiliate marketing is a top choice for diversification, but, you could also start your affiliate career in this industry. However, you should take into account that beyond the high commissions offered, this is a highly competitive niche and being successful in it is neither easy nor simple.
Below is a brief overview of the advantages offered by forex and binary options affiliate marketing, followed by an account of the difficulties you are likely to face if you decide to undertake the promotion of a broker.
High commissions is the obvious first reason for someone to become a marketing affiliate in this industry, since the average CPA paid out can potentially go as high as 500 USD, while revenue share arrangements could be as high as 50%. Although achieving such high returns is subject to various factors and are determined both by the work you put into it plus the details of your agreement with the broker, even a 400 USD CPA and a 35% revenue share, which are more commonplace, are still very high and compare favourably to what you can get from being a marketing affiliate in any other industry, such as pharmacy or adult content.
Another attractive feature for becoming a forex or binary options marketing affiliate is that generating fresh and updated content frequently in these fields is easy. This is because the financial instruments industry operates within the highly dynamic environment of world markets, be they in currencies, stocks, commodities or indices. The way things play in the world economy ensures that a new event, development or news item is always happening, giving you lots of space and scope for new content generation in order to attract potential clients for brokers. Clearly, this is not so in most other industries for which you could become a marketing affiliate, where things are usually much slower moving.
Forex and binary options affiliate marketing is all about striving to keep your visitors aware and informed of all the latest developments pertaining to these industries. The good thing is that, largely due to the high competition which keeps giving rise to innovative marketing materials in the field, the choice of tools at your disposal is virtually endless. Beyond the traditional banners and landing pages, which can choose and utilize an array of other tools such as economic calendars citing developments, indexes displaying market sentiment, widgets that provide a live feed of currency and other rates, to name but a few.
Also due to the intensive completion account managers in brokerages are usually people with a drive, experience and expertise in their field, which makes working with them easier for a marketing affiliate, since they are –more often than not- responsible, proactive and eager to help make your cooperation mutually beneficial and effective.
Another advantage is the flexibility in the performance and payout models that could operate in the industry, resulting from the fact that the potential client base for forex and binary options trading is very wide and varied. This means that brokers are open for traffic generated from different sources and how you will achieve such traffic and be compensated for it could come through CPL, CPA, CPM or any other performance model the affiliate and the broker can mutually agree on.
If you set up shop as a forex or binary options marketing affiliate, you not only have the opportunity to promote the brokers offering such instruments for trading, but also other related services which are inherent in the functioning of the industry, such as signal service providers, analysis tools providers, trading robots, advisory services by experts and others.
Moreover, and besides your pure affiliate marketing generated income, this can be supplement through using the possibilities available through AdSense and pay per click arrangements, via the high CPC rates than can be achieved in the forex industry.
A last point to consider is that the element of geographic dominance can also prove very lucrative in this industry. Therefore, if you able to do so, look for opportunities for setting up shop and providing services for non-English speakers, shifting your focus on regional optimization. The Middle East, Latin America, Japan and Russia are but a few examples of big non-English speaking markets you could target.
Having mentioned the basic advantages of forex affiliate marketing, we should also point out that it comes with some considerable inherent disadvantages as well that should be underestimated before deciding to enter this industry. The first and foremost is the fiercely competitive environment. In short, be prepared of a lot of hard work because you will have to compete with a hell of a lot of others out there. Doing a generic term search on the internet, for example “forex trading” yields over 52 million results. Obviously managing to build a page that will feature high enough on Google, becomes a daunting, if not virtually impossible task.
Added to this, is the associated disadvantage that all the obvious, straightforward, good domain names, which are relevant to this industry are already taken. This means that finding a good domain name that will work requires a lot of effort, creativity and perhaps luck, plus branding it so that it will mix well in the industry will demand extra effort and care.
Another important factor to consider is that it will probably take more time than usual in order for your website to be able to attract decent numbers of traffic and thus generate any sort of income. Be advised that forex and binary option affiliate marketing is not a “get rich quick” recipe. Rather it will entail that you can afford to stick with it as a project without actually getting anything out of it, in terms of revenue, at least for the first few months, until you manage to establish yourself in the competitive environment.
It goes without saying that having, at least, a basic understanding of the financial and industry terminology and jargon, will of course come in handy, especially if you do not want or cannot afford to enlist some kind of outside expert to write up content for you. This is a disadvantage because if most other generic affiliate marketing industries such being at eased with specialized terms and language is not a prerequisite.
Having pinpointed the difficulties, we believe that you should not be intimidated or allow them to deter your from entering forex or binary options affiliate marketing, as this industry is sure to reward you well for all your hard work, not only in financial terms but also by providing you with the opportunity to work within an action-packed, extremely exciting environment. It might very competitive and at times highly complex, but it is definitely worth a shot!
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.