Forex Affiliate Program
A FOREX affiliate program seeks to draw new clients to a FOREX (foreign exchange) website so that they can engage in currency trading. There are many different types of affiliate programs on the Internet, and each offers some type of financial reward to site owners for bringing increased traffic to the seller's site. Affiliate site owners also get a percentage of the proceeds. This is accomplished by displaying ads or banners (embedded with the affiliate's account number) which draw the attention of potential customers. Marketing tools and advice designed to improve customer response rates are also supplied.
Another way to draw potential customers to an affiliate's site is to send the FOREX program's marketing materials via email to the addresses of friends and relatives. Using a link from your materials, the opportunity is given to trade at the sponsor's website. Spamming (sending unwanted or excessive advertising email to others) is discouraged by the FOREX affiliate program. This leaves an individual with a limited number of eligible contacts. Some affiliate programs offer continued monetary incentives for future purchases made by the same customer. For every new person who deposits money with the FOREX program, a monthly affiliate fee is paid to the owner of the site through which the purchase was made.
The foreign exchange industry is a huge market with daily turnover valued at trillions of dollars. Those involved in currency exchange trading include central and commercial banks, organizations, professional traders and individuals, and these may be located anywhere in the world. Access to online reports on one's traffic and commission levels is usually made available. Commissions are based upon a percentage of the sales generated, along with a fee for each individual brought to the trading site. Sometimes, a FOREX affiliate program offers a second tier of potential earnings, when an affiliate's customers also become affiliates. At this point, commissions are earned on their commissions.
Most foreign exchange trading is done between the US dollar and the six major currencies: the Euro, the Japanese Yen, British Pound, Swiss Franc, and Canadian and Australian dollars. No physical exchange of currencies actually occurs. Rather, the participants agree to trade an amount of currency at an agreed-upon date and exchange rate. Traders can speculate either for or against the value of the currency. Only a small proportion of the stated amount is needed to get a contract. This collateral or margin is required in a certain ratio. Professional currency traders seldom use more than a 10:1 leverage. The FOREX affiliate program customer is involved in one of the most liquid markets in the world. It is also easily affected by political or economic changes. Exchange rates can rise or fall quickly, generating profits or losses accordingly. As the author of Proverbs 23:5 wryly notes, Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle towards heaven.
Another concern regarding a FOREX affiliate program is the increasing appearance of financial scams associated with this market. Some brokers allow much larger rates of leverage than is appropriate -- between 50:1 to 200:1 margin. This can tempt traders to risk larger amounts of money, while generating money in fees for brokers. Scams tend to advertise that spectacular sums can be gained from relatively small investments. At times, unscrupulous individuals do not even invest the funds at all, and either shift the money around to obtain more transaction fees from the 'client', or just abscond with the funds. Scams may include offers to 'manage' funds for a fee, or sell the client software, newsletters or other materials which are supposed to practically guarantee results. Brokers who claim that FOREX trading is a low-risk, high-profit investment should be immediately considered suspect.
Even with a legitimate FOREX affiliate program, customers are certainly not immune from great losses. Most individuals do not possess the information or experience which professional traders have, but even if they did, successful results are far from guaranteed. About 90% of traders lose money on FOREX deals. Studies have been done which indicate that since there are a finite number of trades available, and most traders are somewhat under-capitalized, there is no probability of winning against a world of capitalized players who will never all become bankrupt before the individual does. Often, participants do not factor in other costs which are subtracted from all players: commissions, fees, and transaction costs. Given all these factors, the only honest conclusion one can make is that FOREX investors are most likely to lose all of their money!
Many firms or individuals that seek to obtain accounts for foreign exchange currency dealers are unregulated, so the investor is exposed to the possibility of fraud. The US Commodity Futures Trading Commission (CFTC) loosely regulates the foreign exchange market in the United States and notes increased numbers of fraudulent dealings during non-bank-related transactions in the exchange industry. Both the CFTC and the National Futures Association (a self-regulating body) offer programs to help resolve disputes involving FOREX accounts. However, opportunity for fraud still exists. An individual participating in some type of FOREX affiliate program should be extremely careful to check out the organization running the program, and to read all contracts thoroughly. Avoid programs which push for quick decisions, or are unwilling to answer questions. Finally, do not invest any sums of money with a FOREX affiliate program which are needed to provide for present or future (retirement) needs.
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