We often sit and ponder how to increase our earnings. Whether that be seeking a promotion at work, selling second-hand goods online at a cut-price or taking a part-time job in a bar a couple of nights a week - we all think about ways in which to boost our monthly income.
When we relate this to Forex Trading you do not have to look too far in terms of earning some extra commission on top of any profits gained from trading the markets.
So where do we start when thinking about how to generate an extra bit of honest income? Let’s first think about the contacts we know in the real world as well as our online network of friends and acquaintances.
Ask yourself one of the following questions:
- Do you have an extensive online following?
- Do you have family members who are interested in breaking into the world of Forex ?
- Do you have friends who aren’t satisfied with their current broker, paying ongoing costs for average leverage?
If the answer might be yes to at least one of these, you are in the right place.
Many brokers in the world of Forex trading offer an ‘affiliate program’ or an ‘introducing broker’ initiative.
This is where original traders can refer more people and receive a commission for each trade the referred trader places - whether it be a profitable trade or not.
The beauty of referring people to a broker is that all new prospective users have to do is click on the referral link posted by the referer and sign up for the broker the refer is ‘introducing’ to the new client.
Referees then are paid based on the number of lot sizes the new trader/s place.
An emerging broker in the Forex space, EagleFX, is allowing its clients to earn a generous commission of $4 guaranteed per lot traded with the potential to rise to $5 per lot.
This is all thanks to the introduction of a brand new, fresh and exciting 5 Tier Affiliate Scheme.
Advertising
It is an affiliate’s responsibility to conduct their advertising online. Whether these are links posted to social media platforms, banners or email blasts, it is down to the Master Affiliate or Introducing Broker how extensive they wish their advertising campaign to be.
Traders are often solely given their affiliate link and ‘let loose’ on the web so to speak to advertise the link as they wish - using their advertising skills.
It could be that an IB is gifted at trading but not so talented when it comes to advertisement campaigns.
EagleFX goes the extra mile in ensuring its clients have the right tools to market their products successfully.
This new and exciting ECN STP broker gives its affiliates access to an exclusive Media Pack to assist the IB generating more referrals and for the broker to receive more exposure.
Additionally to this, IB’s can have direct contact with an Affiliate Manager on request! A win-win for both client and broker.
So how does it work?
When expressing an interest to become an affiliate, brokers will send a link to the IB to advertise on their social media channels as they see fit.
Each time a new user clicks the hyperlink, the affiliate system attached to the broker will recognize that that particular referer has referred a new trader.
This is information is logged in a back-office system belonging to the broker so they can track commission owed based on the number of successful referrals signing up via the IB’s link.
Traditionally brokers offer basic commission structures in which IB’s earn a flat rate for each client usually per lot traded.
I.e.
Broker pays $3 per lot traded by the referred trader
IB refers one trader
Trader trades an asset with a volume of 2.0 lots
1.0 lot = $3
IB earns $6.00
This is usually paid by the broker on a monthly basis into the Trading Account of the IB. IB is free to withdraw these funds or use it as capital to trade.
Benefits
The benefits for the broker and client alike can be mutually beneficial and certainly profitable if put to market effectively.
For a broker, the stand out benefit is an upsurge in online brand exposure.
By offering commission, the broker benefits from others advertising their product. An excellent marketing strategy to adopt.
For affiliates, the benefits can be extremely beneficial in a monetary sense. The more an IB advertises and refers more clients, their additional income will naturally grow.
Account-holders can generate an increased income without placing a trade - increasing monthly earnings through the power of marketing.
Summary
So we have learned that an upturn in monthly income is possible through Forex Trading!
What is important is to find a broker which will offer a remuneration package to affiliates who refer new traders to the brand by using various marketing strategies via a unique signup link.
EagleFX offers a generous commission structure where Payments start at $4 per traded lot, per referred trader.
Thanks to the unique structure the broker offers, affiliates have the opportunity to earn up to $5, helping their scheme truly stand out as a great way for an increased monthly cash injection.
Not only this, as part of EagleFX’s commitment to client satisfaction, being an affiliate lasts a lifetime! For as long as your referred traders trade - you will continue to earn!
The media pack and direct affiliate manager assistance show the brokers forward-thinking in engaging its clients and enabling more and more users to benefit from a side income.
Join EagleFX and fulfill your earning potential, starting today.
Disclaimer: The content of this article was provided by the company, and does not represent the opinions of Finance Magnates.
