When it comes to professional moneymaking in today’s Forex environment, everything basically boils down to 2 options:
a) You make money directly from trading currencies.
b) You become some kind of an affiliate in the FX business. More specifically, you work as an Introducing Broker (IB) for an FX broker and get paid for inviting traders to join the company. More often than not, IBs get paid 20% to 50% of the spread paid by the trader. The IB pays a certain share of the profit back to the trader as a rebate (that’s a kind of cashback). So, rebate is some kind of an extra profit for the trader. By the way, rebate is something that’s become natural in the international Forex community.
Apparently, as a trader, you won’t make as much money from rebate as you can make from trading currencies. However, who would refuse to get paid some extra cash from doing the same amount of routine work anyway? For IBs, the bigger the trading volume, the more money they get. For example, an IB can get $1000 - $2500 for 100 standard lots traded by the referred traders. Yet, the IB pays the lion’s share of the profit back to the traders.
Convenient and profitable, isn’t it? And it’s really pleasant when the broker unexpectedly announces an increase in the rebate paid to IBs and traders. By the way, that’s exactly what NordFX did earlier this month. For those of you who don’t know, NordFX is a major Forex broker. Actually, this is the world’s leading broker according to Masterforex-V Expo, an online source embracing unbiased ratings. The recent press release reads the following:
NordFX received the Forex Awards prize for the Best Affiliate Program in 2016. This program allows virtually anyone to create their own business from scratch, without needing to put in a significant amount of initial capital. Commission payments of 30-50% of the spread, reaching $30 per lot, amount to some of the largest in the industry, and allow even a beginner partner to profit handsomely from such a cooperation.
This means increased profits for IBs and increased rebate for traders.
In August 2017, NordFX’s affiliate program was improved to become a 2-level program, with exclusive conditions for VIP partners.
IBs and Traders’ Feedback
According to the top manager of pro-rebate.com, an international auto-copying service, NordFX’s affiliate program is one of the most beneficial offers among forex brokers. For instance, even before the press release and the decision to increase the payouts, the actual rebate paid by NordFX used to be 1,8-2 times as high as the one paid by FIOB Group, for example. With that being said, it’s not accidental that almost half of Masterforex-V Academy traders open their accounts with NordFX, one of the biggest FX brokers licensed by the CySEC, an EU-based financial watchdog.
The company has been offering their services to international FX traders and investors since 2008. The company has been really popular with the international community ever since. All of that became possible thanks to tight spread, favorable swaps, and time-proven reliability. Don’t you remember how the market crash triggered by the Swiss Franc in 2015 devastated such major brokers as MiG Bank, RVD Markets, Alpari UK? However, even under such circumstances, NordFX did survive and keeps on growing today. Now that NordFX is paying more money as rebate, pro-rebate.com is also paying traders up to 90% of the rebate. Apparently, this is good news for both IBs, rebate services and their clients.
How to become a NordFX IB?
The procedure is really simple:
1. Sign up and get your referral link along with all the required promo content.
2. Invite new clients through your referral link by using your website, blog, or social network page.
3. As the referred traders start trading, the IB starts getting paid a certain percent of the commission paid by the traders. And that’s about it!
The broker assists IBs in holding promos, seminars, and trading contests. In order to improve the cooperation efficiency, NordFX offices hold regular meetings with the company’s partners to let them express their thoughts and vision on how to improve the business and discuss the details of their mutually beneficial cooperation.
Each potential affiliate can roughly estimate the profit potential even before getting started. The participant can count on 30% to 50% of the spread paid by level 1 referrals and up to 10% of the spread paid by level 2 referrals. There is a counter on the company’s official website. The counter makes it possible to estimate the potential profit in dollars depending on the amount of referred traders and the daily trading volume generated by them. Apparently, NordFX’s partners and clients welcome this decision.
