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HY affiliates program.Any partners here to provide a review?

swordseeker
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HY affiliates program.Any partners here to provide a review?

Hello everyone! I've tried working on affiliate programs in financial sector already and find the niche quite promising. My new potential partner is HYCM broker.
Some of the info I've managed to find on their affiliate program looks outdated. So I'm wondering if anyone worked with the company recently. Thank you for any reviews and suggestions on HY affiliates! "
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uperald
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The niche is indeed promising, especially if the partner practices revenue share option. In this case if you get lucky enough to bring in the moneybag, the revenue share might turn out to be rather impressive. However, there are also lots of specific details you will have to pay attention to when targeting the campaigns. For example, choosing only last IPhone model audience won’t work as good as it would let’s say in a beauty and jewelry industry. Traders can come out of all casts and have very different initial level of income. Moreover, they simply can turn out to be rather strange people and own an android phone simply because it’s got “fair value”.
Also a lot depends on the marketing tools that you plan to use.
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maryt
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There is not much reviews about this affiliate but I have found the following links as useful references:

https://www.topratedforexbrokers.com/hycm/

https://55brokers.com/hycm-review/
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swordseeker
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Lol, looks like you've had some experience. In fact I have some trading background myself. Not an impressive one, but still good enough to understand what you are talking about. From what I see in the HY affiliates dashboard, the marketing tools are very diverse. They are adopted to target various language groups, vary in the purpose and even the assets customers can potentially be interested in. Which is good in case we will have a Bitcoin 2.0 situation when everyone gets carzy about trading some particular asset.
I'm not that sure about revshare option being the best choice here. CPAs seem to be little more steady source of the income.
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uperald
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Actually I think this moment right now can be a good chance to dive in the topic. Yeap, investors lose money, but trading is not only about investing. If you look around trading forums at the moment, you’ll see that people have 50/50 opinion on what’s happening. Some say the world economic crisis is near and tend to cash their investments. Others say this is a volatile times on the markets and this is exactly when the good money are to be made.
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swordseeker
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yes, this can be used in promotional campaigns, I guess. HY is a regular forex broker and many of their clients trade intraday, don’t invest long-term. It will be true to tell potential customers that if they doubted whether they wanna start trading on financial markets - this is the time!
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uperald
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Well, that’s just one of the ideas for promo campaign. To be realistic, you have to be prepared to generate an idea after idea, try different approaches, experiment with traffic sources and promo kits before you find out what works better. Moreover, as long as HY affiliates have different types of payout systems, this is the other thing that you will need to experiment with. It takes time.
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llum44
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In spite of the common spread opinion that affiliate marketing requires tons of investments, special software for analysis and other tricks to get that +5-10% return on your traffic expenses, this really is true that alternative approach can generate much better results. For this particular situation with forex, I’d suggest finding trading bloggers that will be willing to include the native ads in their content. Just make sure these people have some loyal auditoria.
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swordseeker
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Exactly what I was thinking about myself. but I see the two problems here.
1. How can we know the auditoria is loyal and non-sceptic
2. Famous bloggers charge fortunes for their promo postings
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llum44
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Well, loyal subscribers always leave many comments, communicate with each other there. So basically friendly comments will tell you what’s going on there in subscriber’s world. Just make sure the comments look genuine. If those are paid ones, there is no point to start promoting there. Normally, its easy to see of the community consists of real people or bots. Its like a 10 minutes investigation that you will need to do.
As for the second point… well, you’ll need to be finding bloggers that have not been spoiled with fame yet.This is your part of the job. Money doesn’t come out of air, you know..
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swordseeker
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True, it does not :)
I was thinking about scepticism. You know, I think this is actually why HYaffiliates is a good option. The broker has taken care of all the licenses and regulations, and I think this is what makes people sceptic most of the times. They fear forex scam. If broker is regulated and safe, we can fight that fear effectively.
Thanks for the advise!
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tekasa
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Unfortunately this is true that the myth of all forex brokers being a scam is really widespread. I would have thought so too if I didn’t know the guys who are actually making money with forex trading. I think if the plan is long-term and you are really interested in the niche overall, that would be nice to create some educational resource for newbies that can help them get through the first difficulties everyone faces when starts trading and then turn this resource into an affiliate source of traffic. The approach requires investing not only the money, but time as well.
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swordseeker
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Thanks, but I think that there are enough educational resources anyway on the internet. I don’t think I can create a really good one on my own and I don’t have enough budget to hire professionals that can help with that. So far I’ve tried traditional traffic + ready-to-go ads that hy affiliates offer themselves.
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uperald
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What countries did you target? And how did you like it?
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swordseeker
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The company is not interested in the US traffic. Europe didn’t work out too well and I’ll be glad to get zero sum on this segment, but Asian market turned out to be very sensitive to the topic. I’ve got lots of leads so far. Not many of them funded accounts, which means … well, I hope this means they simply need more time there to make up their minds. The numbers look promising.
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tekasa
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Good to know, thx for sharing.
I've got another idea in mind. Lots of brokers offer some kind of a bonus program, traders' tournaments, other special offers. These can probably used to hook the new customers with a better chance of subscription than simple ads and standard marketing kits and banners.
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swordseeker
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Correct, and this is actually why Asian region works better. HY offers a welcome bonus for non-EU customers, that work under some other regulatory rules than it's EU subsidiary. So this is another reason why EU clients are not that eager to apply. CySEc regulations that they work under in Europe limit the leverage significantly, don't allow any tournaments and bonuses. So basically good spreads and other trading conditions is the only attractive side of the broker that we can show them.
You are definitely right that a welcome bonus works better, so this is why I plan to continue targeting Asia for now, cuz here we've got this bait of a wecome bonus that get added to the funded account.
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shadowsmasher
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Speaking of regulations, I've noticed that this is kinda great problem with brokers. People say they want a broker to have a NFA regulation or SySEC. From what I see Hy does not have a NFA regulation but a SySec only. Can this be a problem, what do you think?
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llum44
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You can't market to the US customers in case they haven't got the NFA regulation.
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swordseeker
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Correct, NFA regulation is for the USA.
American government won't be happy if you try marketing to their citizens without providing a significant security level to their funds. You know, its not worth messing with the US government lol
In any case, HY does not work with the US customers, so tht's not a problem if you ask my opinion.
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llum44
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Gotcha, tnx for the anwers everybody. I still see the absense of the NFA regulation as a disadvantage. Guess will pass on this affiliate partner.
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uperald
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I wouldn't consider this issue from this perspective only. You see, the NFA requires that all brokers must have at least 20 million dollars of their own cvapital invilved to support the liquidity and stability of the brokerage itself.
Moreover they charge some crazy fees so that brokers can be covered with their regulations. Inevitably this results in extra trading fees as customer have to pay for it all in the end.
CySEC works for EU customers, they also imply some limitations on the brokerage yet in some sense this regulator is preferable as they offer a balanced set of restrictions and advantages on the other side of the stick. THis is why customers from all over the work like it when the broker has got a CySEC regulations. On the one hand hey know there is a decent broker's yearly audit, on the other hand this regulation is not expensive enough to result in outrageous trading fees like it happens with NFA regulations.
Please not that non-EU customers won't be subjects to SySEC limitations on leverage, etc, as they will work with the other branch of HY, regualted by even less strict authorities. FOr them the CYSEC regulation will be nothing but a quality mark that the parent company wears.
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llum44
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Oh, that makes it all much more clear! Tnx indeed!
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tekasa
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LOL, I've seen one of my facebook friends promoting the broker via his personal website
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swordseeker
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I thought you can't promote any brokers on Facebook 8) There are lots of limitations for ads on Facebook in any case, but for CFD brokers' affiliates that's a real Mordor. Even if they are realible and regulated like HY
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tekasa
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Probably true, as he only shared the article from his website and definitely didn't leave any ref links in facebook directly.
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llum44
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The policy sounds very stupid if you ask my opinion. Brokers spend millions of dollars to get reliable regulations like NFA's or at least a cheaper but still ok one from CySEC. And then they can't market themselves on FAcebook, simply cause CFD traders often lose money. Yeap they do, but they also know this well enough and they know what they are doing. At least if you promote regulated brokers, people will have less chances to run into a scam or some money-laundry machine.
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swordseeker
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Agree, promoting regulated brokers should definitely be legalized everywhere. What kind of a liberty can we talk about if people aren't allowed to manage their savings as they wish. I can understand the ban of alcohol or tabacco promotion as it ruins health. But why limit people in the ways they want to spend their money. Moreover, they have a chance to trade well with HY broker either!
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tekasa
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That's not up to us to decide unfrotunately. I'm trying to find out whether he's got some nice leads at the moment. Did anybody get any so far BTW?
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sohaibsiddiqui045
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Nice question, if I know the answer, it will help me a lot.
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swordseeker
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I think I'll get my first payouts next month, fingers crossed. I did a good job and I wanna taste some fruits now.
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tekasa
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Sounds good. I bet you deserve the sweetest ones. The harvest is there when the fruit is ripe though.
Let us know in any case.
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swordseeker
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The time has come!
I've requested the withdrawal and hopefully it won't take long for the moneyh to arrive. I was afraid the August won't be fruitful, as I know traders don't like being involved in markets at summer, yet all went fine and moreover, the leads that I though I've lost already and they will never fund their accounts - they woke up and funded.
So that's a piece of some good news that I wanted to share as promised.
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uperald
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I hope the money is on account already. If it's not, than probably the info on the partner is not 100% reliable yet.
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swordseeker
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I've made a withdrawal request last Friday. Yesterday I've got the money on account. Wire transfer takes little long unfortunately.
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uperald
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Thanks for specifying the details, I appreciate.
Do I remember it correct, you've used the CPA approach only, correct? Are you still pleased with this choice?
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uperald
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Yup, CPA only for now.
You know, that's difficult to answer your question. I think that CPA is very good for a start, when you want to get some returns asap. On the other hand, one of my leads has funded account with $7000 and I think it could be much more profitable if such leads were coverfed with rev share or lot rebate program. The problem is you never know in advance (
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tekasa
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OMG, 7K to be sacrificed on the altar of Forex! Can't believe people don't know the other ways to waste the money.
In any case you've done well with hy affiliates. I didn't expect you to make it all the way through to tell the truth but I'm glad all went well eventually.
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uperald
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Well, we don't really know whether that person is a professional trader or just a guy who 'doesn't know the other ways to waste the money'
I sincirely wish him success on the market, but my wish would have been even more sincere if we've worked on a revenue share basis with HY LOL
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