Forex Brokers Directory – Avoid Forex Affiliate Programs Rip Off

April 2, 2023 by: joma12

Being forex affiliate is a truly lucrative opportunity to earn substantial amount of money promoting forex brokers and trading services. Unfortunately, not all forex affiliate programs are honest – some manipulate the stats, others make impossible commission conditions and some (the most annoying kind) do not pay at all. How to stay away from getting ripped off? What should affiliate look out for when choosing a forex affiliate program? I have personally experienced the pain of being mistreated and it cost me time and money. If your affiliate partnership with forex programs is smooth, share your experience with other webmasters. Most importantly, if you have been scammed in any way by forex affiliate program, let us know and we will post it and warn others. Only when we all look for each other the programs do not dare to scam and that sure saves all of us tones of time and trouble. What to look out for?

– Unbelievable Stat Results

Believe it or not, the problems with stats is very common in all affiliate business, whether forex, gambling, or others. Your visitors simply do not show up in the stats. To ensure that the clicks are being registered, click on your banners and see if the stats change. If there is a reason to suspect that something is wrong with the tracking stats – contact your affiliate program immediately. Maybe it is just wrongly copy-pasted tracking code (meaning that it is your fault and you have to be more careful next time!); however it might also be a scam attempt. If you do not receive a quick response from your affiliate manager with suggestions, solutions or explanations, then you better stay way from that program. Changes are, you are a victim of a rip-off.

– Lots of Leads but No Conversions

You cannot expect to get a real sign up from every banner/link click, however there must be some consistency and conversion ratio. In case the conversion ratio for the broker you promote is abnormally low (let’s say below 1%), take it off your site. It is a total waste of time and most probably a total scam.

– Not Getting Paid

Sometimes you not only have to work hard on your site, but also work extra hard to get the money you have earned! You get the clicks, your commissions climb up and it’s that time of the month (aka payment day!), however for some reason you are not getting the money. One of the reasons (best case scenario) – you didn’t claim the payment and therefore the commissions will be added to the next month payment. If the affiliate program requires you to ask for the payment every month on X day, don’t forget to do so and don’t blame them if you missed the date. Another reason (so-so case scenario) – your forex affiliate program has minimum requirement on monthly commissions in order to get paid. So, if the requirement is, let’s say, $500 and you haven’t reached it this month, you will have to make some more money next month and hopefully get your cash with the next payment. Bad case scenario – the affiliate program keeps changing payment dates or doesn’t pay unless you send them at least 5 emails with at least one threatening message of taking all the banners off the site. Yes, it happens and it is a sign of either much unorganized program or a possible scam. My advice – proceed with caution with this one and be emotionally ready for a dooms day (a day when a due payment will not come). Worst case scenario is, of course, not getting paid at all. You work hard, you enjoy seeing the improving tracking stats results, you are anxiously waiting for the payment, but it just never comes. No matter how many emails are being sent, there is no response and no money. This is sad, but nothing you cannot overcome. Grief for the unpaid money for couple of days, but then get yourself together, get those banners off your site and move on! 

– Bad or No Affiliate Support at All

Not all programs with bad affiliate support is scam, however it might be a good indication of something fishy. Any affiliate program should provide an affiliate manager or some kind of representative that can be contacted at least by email (preferably by phone, skype and other internet media). How to check the support before promoting the product? Easy – send an email with a simple question and see how long does it take to get a response. If your question is ignored for couple of days – don’t put a red cross on the program yet! It is not yet the sign of a spam, however if you do not get a response within a week – something is definitely wrong here.

– New Forex Affiliate Programs

Last but not least – the danger of something completely new. Forex industry is expending, more and more brokers are popping up online and therefore, new forex affiliate programs join the market. I would think twice joining a program and adding their banners to my website’s front page right away, if I know that the program has been online for less than a year. The latest scam in this area is 10pipsaffiliates (promoting 10pips broker). The broker was giving away non-deposit bonus, the affiliate program had quite impressive conversion ratio and then CA-POOF, you get an email saying that the affiliate program is closing down and you will get paid only for the lasts month commissions. What about all those leads that you referred for free? Well, someone else is sure enjoying it right now! One thing for sure – now you know better!

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