FX Partners Network, or FXPN, has announced today in a notification update sent to its Affiliates that the company will be terminating its operations in the coming days.
FXPN is a retail Forex and IB affiliate network, which Leverate developed in 2012 to interface between some of its Forex brokers' brands and affiliate marketers.
The FXPN platform is based on an online marketing solution from DirectTrack Affiliate Software Technologies. Leverate's development team customized and built on DirectTrack's platform for FXPN brokers and partners' reporting, but DirectTrack very recently announced they will cease all operations in March 2014.
The update from FXPN states that in light of DirectTrack and after many meetings and discussions of the board, Leverate has decided not to restart the development of FXPN, so the firm will be able to focus their efforts on expanding their technology for forex and binary options brokers.
However, it was announced on December 11, 2013, that DirectTrack's business was acquired by CAKE, a Software-as-a-Service (SaaS) platform provider offering business intelligence for marketers. CAKE is now offering a turnkey solution for DirectTrack's clients who want to replace their existing systems.
Speaking with Forex Magnates on the subject, Remy Rosenbaum the Head of Marketing for Leverate said: "As DirectTrack Affiliate Software Technologies will be ceasing operation in the near future, Leverate has decided to first and foremost protect FXPN's partners and as such connect them directly with the brokers."
FXPN requested in the notification that partners remove all its links and banners immediately, and informed them that from January 15th the FXPN back office login area will no longer be accessible. Participating brokers are still due to pay for any leads or commissions generated until January 15th.
Affiliate markets can now choose to work directly with any broker brand that they have been working with on FXPN previously to continue their campaigns. Those brands are: ForexBrokerINC, CaesarTrade, GCMForex, GCMAsia, Fxlider, NetoTrade, Astonforex, ForexTradition and Whichway.
