While working remotely is not ideal for everyone, for forex traders, there is opportunity to be found, using the technological tools we have at our disposal.
If you are a forex professional, educator, social media influencer or fund manager, it’s entirely possible for you to use your already established business or personal network to generate an additional ongoing income.
You already have the leverage, and you can take advantage of that by partnering with a credible broker. You can do that from various angles, depending on what you do; and commission structures can be quite flexible, too.
There are different types of partners earning income through referrals in the forex trading space. Trading partnerships generally fit into three categories:
- Forex educators and introducers – This is a broad category, which encompasses signal providers, Expert Advisor (EA) developers, forex mentors, educators and teachers. This includes writers of forex e-books and analysts, too.
- Affiliates and influencers – These include network professionals, forex YouTubers, blog owners or even creators of forex memes and social media gurus.
- Professional fund managers – This, of course, includes experienced traders, wealth managers, profitable traders, PAMM masters and other forex masters.
If you fit into any of these three categories, partnership with a trustworthy and established forex broker can net either immediate or ongoing profits, whenever members of your referred network actively trade.
This is one of those cases where, it really is about who you know.
The benefits for both sides
When you connect and start referring, it’s important to remember that there shouldn’t be any brokerage fees attached. Certain brokers may attach fees and if that is the case, it’s vital to know exactly what those fees will translate to for the client.
There are fly-by-night brokers out there. So, research is your biggest ally. Always partner with a reputable and established broker who offers clients the added advantage of being able to trade in small amounts versus having to buy stock in excess. Obviously, as the referrer, it’s in your best interests to provide your clients with an honourable trading partner.
With the state of the world and the markets in flux, there’s no better time to refer than now, as any experienced trader knows that with volatility comes unprecedented opportunities to make bigger profits.
How you can earn
Commission structures and percentages vary. There are “once-off” packages that simply pay out once someone in your referred network starts to trade, i.e. “Cost Per Acquisition”. Alternatively, commissions can be structured to provide ongoing revenue.
Both ways are legitimate, depending on the circumstances. Here are three ways you could earn commission from your referrals:
- Dynamic CPA – This gets you a fixed payment for each client you refer with Cost Per Acquisition.
- Master affiliate – Refer traders or affiliates – or both – and you will earn commission based the client’s traffic, performance, and trading.
- Revenue share – Get a fixed commission based on a long-term partnership, making ongoing profits from your traders’ trading volume.
Do your research
The trading environment at the moment is extremely volatile. This is both frightening and exciting, because while risk is extremely high, profits are potentially through the roof, too.
This is all the more reason to identify a reliable broker to partner with in your referral journey. It’s the only way you can secure fair commission and a safe trading environment for your network. In an industry that remains somewhat “gung-ho” at times, the best you can do for peace of mind is research, research, research.
The right partner can provide ongoing passive profits based on how your clients perform. Yes, it really can be that simple – as long as you make educated choices. And as a forex professional, there is no time like the present to start earning commission from a trusted broker.
CM Trading provides the most reliable and cutting-edge trading and reporting platforms and offer individual attention from a personal business developer.
To start your journey with CM Trading, sign up today!