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HYCM: Rethinking affiliate marketing in FX

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In some ways, affiliate marketing is an unsung hero. Its siblings, SEO, content marketing and PPC have had the spotlight on them for a long time, while this tried and tested marketing mainstay sometimes doesn’t get the attention it deserves. That is why it is hard to find an affiliate program in the FX space that would tick all the boxes of the lucrative scheme. This is not the case with the HYCM’s partnership programme, HY Affiliates, which has been perfected over the years to deliver results to both the broker and its affiliates.

 

The stats
This is despite the budgets for affiliate marketing growing every year with no sign of the trend slowing down. According to Statista, affiliate marketing is estimated to be worth $12bn globally. Another interesting fact is that back in 2020, affiliate marketing came 7th in LinkedIn Learning’s list of top 10 “hard” skills, citing the “decline of traditional advertising and the rise of social media” as reasons for the current desirability of affiliate marketing skills among employers. According to affiliate network AWIN, at the start of 2020, 25 percent of consumers new to brands made a purchase through an affiliate link. By the height of the pandemic this figure was up to 37 percent and has remained above 30 percent since the reopening.

 

Affiliate marketing as diversification
In the forex industry, while we recognise the value of both affiliates and IBs (introducer brokers), historically it has been IBs that have gained the most traction because these partners tended to bring their own traders with them and were thus regarded as a more reliable source of volumes. Even as SEO and PPC have risen to prominence, it’s something of an open secret that a substantial portion of many FX brokers’ volumes continue to be…

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