Professional Trader looking to horizontally scale my works

[yfam]

Hi everyone,

I have been reluctant to post on these types of forums as I am well aware of the reputation the forex/crypto/signals trading industry has for its abundance of spruikers trying to push their Holy Grails. Having worked in the industry for over 20 years, initially in the institutional side of trading, currently in the retail area, I have seen it all.
I am in the development/risk/research area and have been trading successfully for several years and have featured in the top rankings on most of the legitimate ranking sites. I would now like to focus on marketing and distribution of my works to a larger audience. I was previously providing and enabling Introducing Brokers/Affiliates at several larger retail forex brokers to acquire and provide quality trading to their clients, and am now looking at becoming one myself. There are many services that can be provided to clients from training, signals, indicator software, mentoring, discounts on trading costs, etc. I am very interested in getting some feedback from you guys as to what you recommend my next steps being. Thanks for having a great forum

 

[T J Tutor]

Are you seeking to be a broker, or are you seeking to be a trainer?

 

[yfam]

Hi, I'm looking to be an Introducing Broker or Affiliate, to refer clients to brokers and assist them with their trading moving forward.
Having worked for a large broker previously I have seen the range of services that they offer to incentivize clients to use that particular broker. Obviously the more reputable, visible the broker, the more their onboarding comes from organic signups but it is highly competitive amongst them. If you can offer high quality mentorship, training services, trading signals, software and can be their "internal" representative, to expedite queries and issues, etc, it can be the decider between whether they will choose one over the other. I can provide all the above as well as set up Telegram/Discord channels to provide support/advice,etc (my background is software/IT). I already have good relationships with some brokers so can work closely with them. One of the complexities of providing these types of services is to remain compliant with the financial regulations so brokers need to be comfortable in their IBs integrity and ability to adhere to these regulatory requirements. With Affiliates it is more lax as they are not engaged with the clients on an ongoing basis, which is the role of an IB who wants to maintain a long-term relationship with their onboardees. The Renumeration is based on the volume of trading they transact into the future, so you want to provide the assistance they need to maintain longevity of trading. It's notoriously short for the average, ill-equipped retail FX trader.

 

[yfam]

Are you seeking to be a broker, or are you seeking to be a trainer?

PS, I'm also very interested in being a trainer, but this is normally tethered to a particular broker. I am able to provide the training, or train the trainers and provide them with my software tools, strategies, etc. Unlike the vast bulk of forex trainers in the industry I have a "verifiable" track record with a long-term presence on the trading leaderboards, so have the social proofs many of them lack. I am also an academic researcher so am very familiar with the process of communicating knowledge and all the artifacts associated with it.

 

[T J Tutor]

I can't speak to your broker desires, but as for training it is best to have a training portal setup and then recruit a couple of dozen "ALPHA" students to use the training course for free to gather the details of their individual experiences and then integrating the necessary upgrades and corrections before any form of roll out or BETA roll out. This is how it generally done in our industry and most others with online training.

 

[azgold]

Hello, @yfam and welcome to AffiliateFix!

 

[Graybeard]

Toto, I don't think we are in Kansas anymore ...

 

[yfam]

Toto, I don't think we are in Kansas anymore ...

Just trying to follow the gold brick road...


Having worked in client analysis at a retail brokerage that transacted $1.5 trillion USD a month over 200,000 clients, of which half the commission goes to the introducing Broker/ Affiliate, I can attest to the impressive remuneration of Affiliates in this industry.


I couldn't post a link, so I just cut-&-pasted from a site discussing the role of affiliates in retail forex:-

As the heartbeat of global finance, the Foreign Exchange Market, popularly known as Forex, commands a daily turnover that averaged a mind-boggling $6.6 trillion in 2019. You can’t help but wonder How this enormous industry churns out such massive profits. And how can Forex affiliates tap into this lucrative business to earn handsome commissions by promoting brokerages? Let’s pull back the curtain on this dynamic sector and explore these intriguing queries.


The Role of Forex Affiliates
Forex affiliates serve as vital intermediaries between potential traders and Forex brokerages in this vibrant ecosystem. These affiliates earn their keep through commissions, accruing profits by referring traders to brokerages. The more traders an affiliate brings on board, and the more those traders trade, the larger the affiliate’s commission becomes.


Commission-Based Earnings
Forex affiliates can be likened to architects of bridges in this bustling marketplace. Brokerages typically equip affiliates with various marketing tools, such as banners, landing pages, and tracking links, to promote their services effectively.


Commission Models for Forex Affiliates
There are several avenues through which Forex affiliates can earn hefty commissions. These include:


Cost Per Acquisition (CPA): In this model, affiliates receive a one-time payment for each new trader they direct to a brokerage that makes a deposit and commences trading.
Revenue Share: Under this model, affiliates are awarded a portion of the revenue generated by the traders they refer. The percentage typically ranges from 10-30%, providing a potential long-term income if the referred traders continue to trade.
Hybrid Model: This model melds the CPA and Revenue Share models. It enables affiliates to receive a one-time payment for each new trader, plus a slice of the revenue generated by these traders.
Digital Marketing and Partner Selection
Forex affiliates must be adept at digital marketing to carve a successful niche in this field. They must establish a robust online presence, craft compelling content that drives traffic, and understand their target audience. Also, selecting the right brokerages to collaborate with is critical, considering elements like reputation, commission structure, and the level of support offered is critical.


Managing Risks and Maximizing Profits
While the Forex business is fraught with opportunities, it also presents its share of risks for traders and affiliates, mainly if you invest in campaigns such as PPC and other costs necessary to succeed in your digital online campaigns. Therefore it is crucial to approach the Forex business with a clear understanding of these risks and an effective strategy to manage them. However, with the right approach, the Forex business can be profitable.


In Conclusion
The Forex business is a dynamic, exciting, profitable, and rewarding industry. Forex affiliates, as crucial conduits between traders and brokerages, have a unique chance to share in this wealth, especially if they are an affiliate of a brokerage that off
to help you succeed!

 

[yfam]

I can't speak to your broker desires, but as for training it is best to have a training portal setup and then recruit a couple of dozen "ALPHA" students to use the training course for free to gather the details of their individual experiences and then integrating the necessary upgrades and corrections before any form of roll out or BETA roll out. This is how it generally done in our industry and most others with online training.

Hi, thank you for your valuable advice. The training course route is the one that has received the most thumbs up from my associates given our differentiating capabilities.

Regarding the word broker in this context, is probably a bit misleading from a semantics perspective. It's not being a broker in the traditional sense, more 'brokering' between brokers and clients.
As it relates to the retail forex industry:-

Forex Introducing Brokers (IBs) and affiliates are both promotional partners for Forex brokers, but they have distinct roles and benefits:

Forex Introducing Brokers (IBs):

1. Act as intermediaries between traders and brokers.
2. Receive commissions for each trader referred.
3. Often provide support to referred traders.
4. May have access to trading platforms and tools.
5. Typically require regulatory licenses (e.g., NFA registration).

Forex Affiliates:

1. Promote brokers through marketing efforts (e.g., websites, social media).
2. Earn commissions for each trader referred.
3. Do not provide direct support to traders.
4. May not have access to trading platforms or tools.
5. Typically do not require regulatory licenses.

Key differences:

1. Level of involvement: IBs are more involved in the trading process, while affiliates focus on marketing.
2. Support responsibilities: IBs often provide support, while affiliates do not.
3. Regulatory requirements: IBs typically require licenses, while affiliates do not.
4. Commission structures: IBs may receive ongoing commissions, while affiliates may receive one-time payments.

In summary, IBs act as intermediaries, providing support and often requiring licenses, while affiliates focus on marketing and promotion, without direct support responsibilities or regulatory requirements.

 

[Graybeard]

thank you for the AI `In Conclusion` bullshit
you are no threat to the market.
it's so fkn easy to be an expert in FOREX with AI

 

[yfam]

thank you for the AI `In Conclusion` bullshit
you are no threat to the market.
it's so fkn easy to be an expert in FOREX with AI

No idea what you are talking about! Where's the AI? It's a cut and paste of a website explaining the affiliate relationship with the forex industry. I see from other previous posts that you seem to have a resentment to anything forex. Had a bad punt eh?

I don't use AI in forex, it's mainly used as a gimmick keyword by people who don't know any better and just want clicks.
Do you even know what AI stands for? It's so easy to be an expert in things you don't understand.
Google "Mount Stupid"

 

[Graybeard]

You are a bad joke buddy.

 

[yfam]

Again, please explain what on earth you are on about?
Have you nothing better to do than critique genuine posts?

Not getting the attention you seem to crave? Try posting something intelligent and useful, like the other moderator of this group has done.

Tactless criticism is a poor substitute for wisdom.

 

[T J Tutor]

Again, please explain what on earth you are on about?

No worries, he gets cranky sometimes.

 

[Graybeard]

Not cranky not buying his bullshit.
If he was any good at real FOREX speculating he would not even be here.

 

[T J Tutor]

Not cranky not buying his bullshit.

.........and that makes you cranky! Isn't also called getting cranky over bullshit?

 

[yfam]

Wow

Not cranky not buying his bullshit.
If he was any good at real FOREX speculating he would not even be here.

Wow!, what an ignorant statement!
You have just proved my point about people making broad assumptions based on their OWN experiences.

If you had read the post in its entirety you would have seen my statement about having VERIFIABLE track records. As you clearly have less than zero knowledge about the forex industry you would not be aware that to screen out all the pretenders and fakes, there are independent 3rd party entities that vet the live track records of traders.
This is my differentiator.
Regarding the ill informed statememt often made by people like yourself as to why someone would need to market something if they could just survive off their own trading, you clearly aren't aware that traders exponentiate their earnings by managing other accounts or offering the ability to mirror their trading, thus generating a parallel revenue stream through broker rebates.

I wouldn't have subscribers if they didn't have profitable trading. That's the whole purpose of this initiative.

 

[yfam]

No worries, he gets cranky sometimes.

Hi, my apologies for stooping to his level of bluntness, but you can perhaps see an example of what I said I was up against in terms of push back from people who immediately lump you in with the fakes and the lambo-driving influencers. (I have a cheap, fuel efficient car)
All the more bizarre since I'm not trying to onboard him or sell him anything, I already have my subscriber base. Am simply here to learn how to create a structure to monetize my current base and leverage the assistance provided by various brokers to attract and convert new onboardees.

 

[T J Tutor]

any good at real FOREX speculating

Is anyone truly gifted in that regard? YES, there are some. One of my sweethearts fathers, back in the '80's, was a currency trader. He was extremely successful and a BIG player. I learned from him back then that currency trading was like everything else, 95% full of "wannabe's" and 5% real players. He was also the one that taught me when and where to use derivatives, which have saved my ass on many occasions since!

I have no love for FOREX as it plays out today with everyone thinking they can make it as a real player. However, I still do an occasional currency trade as well as I still employee derivatives when I suspect a forecast to accurately depict a major adjustment on the horizon.

You know me, I prefer my metals above most everything these days, but I still play in a few other pools just for kicks and the occasional diversion of diversity.

PS: and I still have a "bug out bag" and plan like you!

 

[yfam]

Definitely would have been a fantastic life being a currency trader for a bank in the old days before it effectively became an internet game for the masses. Have also heard the stories of marathon "business" lunches and rare red wines being guzzled by the case. The average lifespan of a client nowadays is circa 21 days, but there is an increasing percentage of people making good returns over several years (were talking less than 3%). Probably down to the copytrading/social trading phenomena. The real killer is the leverage brokers provide 500-1000:1. Is literally a casino that will eventually win it all back. I also enjoy derivatives and options, particularly commodities but forex really is like a global thermometer. Currently watching the USDSGD go through the floor. Might be a big "Dead-Cat Bounce" if one is patient enough to wait for it to rebound, and not enter long too soon. It seems to want to test the previous pivot low of 1.31577. There's going to be a lot of traders going through the full spectrum of emotions when they wake up and check their accounts, deciding to stick with unleveraged stocks and shares