Forex affiliate programs also make money

Posted by Felix Okoli on Saturday November 5, 2011 12:0:59:

People say there are 3 ways to make money from online forex trading and you know this sort of internet business is what's in vogue in Nigeria today as a lot of people

Ways to make money from online forex trading:
- Trading
- Affiliate Marketing
- Being a Broker
- Training

For now I would want to focus on Forex Affiliate marketing and what it involves. As you know, affiliate marketing or referring has to do with just earning credit for clients you refer to a merchant. In the case of Forex Affiliate Marketing(FAM), you are referring traders to the forex broker and you get a commission doing so. I've tried some FAM programs with brokers like Marketiva and have been albe to refer a couple of clients. The money you earn will depend on the activity of the client or new signup you refer or the pre-agreed rate your merchant offers to pay you. For most forex affiliate programs, they normally pay 1 point(pip) value based on currency and the volume traded.
For instance, if someone you refer closes a position worth $500 in Eur/Usd, you would earn $500*0.0001 = $0.05 and for a $100k position, you would be able to earn $10.

So most forex affiliate programs pay in terms pip value and you know pip varies from currency to currency. For the Eur/usd for instance, a pip is equal for 0.0001 and for USD/JPY, 1 pip equals 0.01 and then you would multiply that point by the worth of the closed transaction by your referalls to get the amount you would be paid.

I've been tryin forex affiliate programs for a while and it has been bringing in some income which I am also allowed to use to do live trading with.

There are lot of forex brokers who offer affiliate programs and they include Marketiva, LiteForex, Finexo and so on.

To get started with Forex affiliate programs
- Just visit the website of your intended broker
- Sign up for an affiliate account
- Get your promotion banners and affiliate links
- Use the links and banners on your site or other site where you write on the internet eg. Hubpages, Helium, ehow or blog.
- Monitor your referral report.

Tips: The higher your site is ranked on search engines related to forex trading, the better it's chances of getting more referrals.