ATFX has launched a unique affiliate programme, the Marketing Partner Programme (MPP), which stands apart from most other affiliate programmes, given that it aims to be completely compliant with current regulations. With MPP, affiliates gain the peace of mind of working in a completely professional set up, without any risk of compliance issues coming in the way of their continued earnings.
ATFX explained that since it is regulated by the CySEC and authorized throughout the EEA, including being registered with the FCA, each programme, product or service offered by the company is carefully formulated keeping in mind all existing regulations.
In fact, ATFX also emphasized that the company has already made the needed changes to comply with the new MiFID II rules that have come into force from January 2018.
MPP vs other affiliate programs
Forex broker programs usually focus on introducer arrangements. This means that they pay their affiliates based on the trading activities of introduced clients. So, commissions are linked to volumes, spread, instruments, size or number of deposits, number of trades and more.
However, these are also the activities that regulators are trying to avoid, in the best interests of traders. The result is that affiliates are constantly at risk of their earnings coming to a standstill overnight if local regulators terminate the affiliate programme they are associated with.
Understanding this risk, ATFX has removed this type of commission structure in its MPP. Instead on basing commissions on trading activity, ATFX’s affiliate programme pays based on where an introduced client is within the company’s sales funnel.
This not only assures a more regular payment structure, but also does not contravene existing regulations. In addition, through this commission structure, affiliates get paid for each and every lead, unlike other programmes that pay based on trading activity and deposits alone.
Dominic Poynter, Marketing Director at ATFX stated: “A big advantage that MPP offers affiliates, is the option to choose from various plans, based on what suits their experience and expertise level. With time, as the affiliate learns and grows in skill and knowledge, there is always the option of moving to another plan. ATFX values each of its partners for what they can bring to the table. This is why MPP is a 100 percent bespoke programme, tailored to meet the needs of different types of affiliates, while complying with all European regulations.”
Another problem that ATFX observed was that many affiliates complain that their Payments are often delayed, and they need to keep following up to gain access to their own hard-earned money. These brokers entice affiliates by promising huge rewards and rebates, as well as high revenue sharing proportions, although the reality is very different.
In addition, many forex brokers try to keep a large chunk of the earnings for themselves, cheating affiliates out of their rightful income. There also are forex brokers who default on commission payments and make up unreasonable excuses to withhold commissions.
This is also where MPP wanted to make a difference, keeping in mind the best interests of its partners. With this affiliate programme, ATFX’s partners can choose when they want to withdraw payments, with the option of a weekly payments window.
The commission payments are equivalent to the existing rates in the market, but the difference is that IBs actually get paid for leads, since payment is based on where the introduced client is within ATFX’s sales funnel, rather than on the client’s trading activities. In addition, the company offers attractive spreads and accounts for traders.
Dominic added that “affiliate programmes often suffer from a conflict of interest with the forex broker, whether the affiliate ends up being perceived as “competing” with the brokers’ own marketing department. This leads to the broker blocking affiliates from marketing their services on the same platforms that they themselves are marketing, such as blocking affiliates from brand bidding on AdWords. In my experience as a marketing manager, this is one of the main reasons brokers lose affiliates”
Conflict of interest is also seen in terms of the Last-Click cookie policy, which ends up cheating affiliates out of their hard-earned commissions, with the broker’s own marketing team, directory listing and social media campaigns getting the attribution for the lead.
MPP ensures that no such conflict of interest occurs through its policy that partner cookies will always take precedence over the company’s cookies, which means that affiliates will always get credit where it is due and win conversion attribution. Moreover, no marketing channel is off-limits for partners so long as the partner makes full disclosure to ATFX and gains the necessary approvals, while the marketing department is always ready to help and mentor affiliates.
So, the key differentiator for MPP is that it rewards loyalty and perseverance, where the interests of affiliates are given top priority.
ATFX works with affiliates to help them succeed
The biggest advantage that affiliates gain from being a part of MPP is the 24/5 live, localized support. They can reach out for assistance whenever they need to in the language they are most comfortable with. The support team at ATFX comprises qualified and skilled finance professionals with wide experience in both the financial markets and affiliate programmes.
The company emphasised that it was among those rare firms that goes the extra mile to support affiliates. ATFX does this through an experienced team which is ready to mentor IBs to help them grow. In addition, the company supports its partners through educational resources, including seminars and webinars that are held regularly. The entire affiliate programme has been created to provide a smooth and seamless experience.
ATFX is working to change the way affiliates work, giving them greater security in terms of compliance, while ensuring that they get paid on a regular basis, earnings commissions on every single lead.
The highest risks that affiliates face is when brokers claim to be MiFID II compliant but have not invested in upgrading their systems to comply with the newly enforced regulations. ATFX, being regulated by the FCA, EEA and CySEC, takes pride in keeping all its operations proactively compliant, such that its systems are already functioning according to the new MiFID II rules. Want to learn more? Chat to the team now
HIGH RISK INVESTMENT WARNING: Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.
