In the final entry to our Vantage FX Snack series, we sit down with the firm to discuss the forex industry further.
AffiliateINSIDER: Why does the Forex industry represent a lucrative business proposition for affiliates in igaming to consider?
Vantage FX: Simply, the sheer scale of the industry and its huge popularity. The Forex industry has grown significantly in popularity for people aspiring to either supplement their income, or make a full time income by trading currencies. Also, with the explosion of cryptocurrencies being offered through quite a few forex brokers, we’re seeing even more individuals give trading a go.
As an affiliate, this presents a significant opportunity to get in on the popularity of the industry and generate some significant revenue, in our case up to $800 CPA.
AI: What is the most common barrier to entry for gaming affiliates and how do you help them overcome this?
VFX: I guess for gaming affiliates, the main barrier is having that knowledge of the Forex industry, and with that, comes having to craft their content towards an audience that they may not be quite familiar with.
Overcoming these minor hurdles is really quite simple. There is so much educational material out there surrounding the industry, and any decent broker should be able to provide a suite of quality marketing materials, such as landing pages, digital banners, email templates, etc, that make it easy for those who may lack the background knowledge of the industry to really hit the ground running and get their campaigns up quickly.
AI: Where is the Forex and trading sector headed? Is there a typical Year on Year growth rate being tracked in this sector?
VFX: The industry itself will continue to grow. More and more people are seeking ways outside of the traditional 40 hour work week to provide financial independence. Regulators are really starting to clamp down on the ‘bucket shop’ brokers, which is great.
With stronger regulatory requirements not only are clients offered greater protection, it also generates more business for the brokers who have built a solid reputation, based on providing not only superior service, but a safe and secure trading environment for their clients.
AI: Is there anything specific affiliates should know about compliance and regulation related to this industry?
VFX: The main thing that affiliates MUST ensure, is that the broker they partner with is regulated by a relevant governing body. For example, Vantage FX is an ASIC (Australian Securities and Investment Commission) regulated broker. Each country has their own governing body, but it cannot be reiterated enough that when partnering with a broker as an affiliate, that broker should be regulated by a well-known governing body.
AI: What are your top tips for affiliates to look out for when entering this space?
VFX: First and foremost is the choice of broker. I can’t emphasise regulation enough. And, any decent broker should offer flexible teared CPA structures and provide affiliates with all marketing material they need to get up and running, as well as access to a tracking platform.
Also, look for a broker that offers a wide range of tradable instruments. This means affiliates will be able to cater to a broader audience of not only Forex traders, but those who trade indexes, crypto, share CFDs, etc. It’s also beneficial to ensure the broker basics are all in order, such as competitive spreads, fast execution, 24/5 live customer support, etc. It might not seem like a big deal, but it also needs to be easy for referrals to join up with the broker you choose. People are time poor, so having a streamlined registration process, whilst seemingly a minor detail, actually makes a big difference.
Outside of that, really just get to know what your audience is after, such as promotions. A broker’s promotions can be a good incentive and generate more referrals for affiliates, so that’s another thing to keep an eye on.
AI: How can affiliates fast track their earnings once in their chosen program?
VFX: There are a range of platforms around that affiliates can access to monitor and track earnings, clickthroughs, analytics, etc. We chose to partner with CellXpert, so all our affiliates gain free access to their platform, which I’d say is the market leader when it comes to high-performance marketing software. It really does everything that our partners require, serves ads, tracks earnings, manages campaigns, provides optimisation tools, etc.