The Forex Affiliate industry, while lucrative, is not without its challenges. It takes tireless dedication, talent, and a unique point of difference to attract quality partners and prompt rapid growth. We spoke with David Bily, CEO and founder of Moneta Markets, about how to set yourself apart in a cutthroat industry.
1. As a relatively new Forex Brokerage, Moneta Markets has experienced rapid growth over the past 12 months. What do you attribute this recent growth to?
Having been in the industry for 10+ years, I knew that quality partners look for a broker with an established track record, which initially put us in a difficult position. However, this also worked to our advantage because we were starting with a clean slate. As such, we were able to craft our offering specifically for the clients and partners that we wanted to attract.
We spent the first couple of years creating a solid foundation to build upon, and the last twelve months have been focused on developing new innovative products for our partners to leverage, that are mutually beneficial for our clients, too.
We have been receiving significant demand to cater to mobile traffic from our partners, which fast-tracked the development of our custom-built AppTrader and CopyTrader Apps for iOS and Android, which recently launched, as well as our fully automated Cashback Bonus promotion. All of which, integrate seamlessly with our client’s MT4 and MT5 accounts. On top of this, we are always trying to reduce trading costs for clients, streamline onboarding, and improve our infrastructure to ensure we’re providing an unrivalled trading experience. Our network of Affiliate and IB partners rely on their clients enjoying their trading experience, as do we, so this is our primary focus which is ongoing.
2. How do these new innovations benefit your network of partners, and attract new Affiliates?
We have developed the Moneta Markets AppTrader app to provide extremely easy mobile access to our range of 1000+ products anywhere, anytime. Our team of UI and UX designers have focussed on allowing clients to access global markets, in just a few seconds, as well as giving them the ability to customise the app to suit their needs. It’s imperative for Affiliates and IBs that there are no barriers to account opening, funding, and trading, because, at the end of the day, that’s how our partners make money. It’s also one of the sharpest-looking trading apps out there, which makes it extremely easy to market to new and existing clients, both novices and pros.
Our new social trading app, CopyTrader, was the result of ongoing demand from our partners because it can function as a fantastic additional revenue stream in two ways: If an Affiliate or IB wishes to become a Signal Provider, they’re able to earn a PnL share from those who copy their trades. If an IB Signal Provider is trading Forex, Gold, or Oil products, they’ll also earn rebates from their clients’ trading activity at the same time. With over 6000+ signal providers to choose from, it offers a lucrative alternative for those who don’t necessarily have the time to actively trade or those who simply want to diversify their portfolios. Again, it’s another fantastic way to reward our partners, while at the same time attracting and retaining clients.
As for the Cashback Bonus, it’s another great tool for partners to use to attract traffic and clients and promote rapid growth. The traditional deposit bonus model is fraught with flaws. It attracts toxic flow and is commonly exploited. The Cashback Bonus we’ve created is an automated feature that offers a 50% bonus on deposits, which then converts to real cash from a client’s trading activity on our FX, Gold, and Oil products. Think of it as the ultimate rewards program. It’s vital for both us and our partners to have quality clients who are actively trading, so we wanted to create something that rewards loyalty and acts as a retention tool. Since launching we’ve seen an uptick in trading volume on our FX, Gold, and Oil products, and it’s steadily increasing, benefiting all involved.
3. Moneta Markets is known for having one of the more lucrative Affiliate Partner programs in the industry. Why should affiliates choose to partner with Moneta?
It comes down to two primary points of difference; the first is having a superior offering that will attract and retain clients, that partners can use to market to their audience. The second is reliable payouts for Affiliates and IBs. When it comes down to it, we are in it for the long haul, and our partners are imperative for long-term success. We also strive for lasting relationships with our Affiliates and IBs, which is why we go the extra mile in paying higher CPAs and rebates than most of our competitors. It’s a unique combination of the correct product offering, quality partners, and rewarding them accordingly.
We understand that different partners target different traffic, so being flexible is crucial for us. That’s why we offer several plan tiers, up to $1200 CPA. As well as custom arrangements based on the needs of a particular partner. And, with both partners and clients worldwide, the ability to cater specifically to various regions also makes a difference, so we offer all marketing material in multiple languages, as well as constantly adding local regional account funding methods.
We will continue to listen to the needs of our partners and continuously build and evolve our offering based on the feedback we receive in order to promote rapid growth. The advantage of being nimble is that we can cut through the so-called bureaucratic red tape that many of our competitors have to go through, which allows us to be reactionary to the needs of both partners and clients. As mentioned previously, we strive for long-term relationships and put a lot of effort into nurturing those relationships by providing value through our product, service, and remuneration.
As Moneta Markets continues to honour its commitment to partners and clients, we look forward to seeing what’s in store for the remainder of 2023, and beyond. For more information about the Moneta Markets Affiliate partnership program, click here.
