When it comes to the finance industry, investing and trading isn’t the only way to earn revenue and grow one’s capital. Those that have developed a name for themselves within the finance industry either by being a well-known trader or analyst or those that have extensive social networks can monetize their followings and followers by extending invitations to trading platforms that offer referral or affiliate marketing programs.
When one of these followers, friends, family members, or others follow the supplied invitation to the trading platform offering referral programs – either through a tracking URL or some other method – and start trading on their own, the original referrer typically receives some sort of commission on the referred user’s trading fees, a revenue share, or a cost-per-acquisition fee.
For traders that regularly find success with their trading strategies, a robust referral program can often help them decide on which platform to use, as the stronger the referral program, the more profit potential that’s possible. For any traders on the fence and unsure which trading platforms offer the best referral program throughout the finance industry, we’ve done an extensive review of the top referral programs the industry has to offer, and have brought you the cold hard facts so you can make an informed decision on your own as to which platform’s referral program is right for you, and which will be the most profitable.
Here are the top referral programs the finance industry has to offer.
Binance
Binance is among the top cryptocurrency trading platforms by volume and offers a massive variety of exotic altcoins and a breadth of trading instruments including futures, spot, and margin trading.
The platform’s referral program is among the more unique programs, where users can split their commission share with the users they refer in what the platform calls a “Friend Commission Kickback.”
The program advertises 40% in commissions that the referrer can then split with their friends, in a 20/20 or 30/10 split, either favoring the friend or referrer. It’s not quite clear why a referrer would want to offer more commissions to a friend than themselves, but the option is there for those feeling exceptionally generous.
The 40% in trading commissions are a bit of smoke and mirrors, though, as upon digging deeper, there’s a caveat that unless you’re holding 500 BNB worth of Binance Coin – the platform’s native crypto asset – then the commissions top out at just 20%, and the friends cut is split up from there.
Binance makes it easy to share referral links to friends with a QR code or tracking URLs and offers fast payments in cryptocurrency.
PrimeXBT
The platform exploded onto the scene in 2018, and its growth has been fueled primarily through word of mouth over the platform’s advanced trading tools and the lucrative, four-level referral program.
PrimeXBT’s referral program is designed for traders to easily share with friends, family, or with followers on social media, and is among the best the finance industry has to offer. Traders get 20% back in commissions of direct referrals, however, what makes the program interesting is that any new users the original direct referral makes also earns a commission on the original referrer’s referrals, up to four levels deep.
Direct referrals offer 20% commissions, while level 2, 3, and 4 earn 15%, 10%, and 5% respectively. The top three earners have already made over 51 BTC and over $440,000 according to the platform’s affiliate leaderboard.
A CPA program is also offered for professional lead generators and affiliate marketers. The CPA offer provides payouts from $40 for first-time deposits, up to $1,250 for active traders.
The most experienced partners can receive increased, individualized rates ranging from $60 each for partner who has signed up over 100+ first time deposits, to $80 for partners with over 200+ first time deposits.
Apart from the lucrative referral and CPA programs, PrimeXBT also offers a revenue share model, tailored to the professional trading community who command a large pool of followers. Partners can earn passive income off of each new user directed to the platform, which generously offers revenue share commissions of between 40% and 70% from the trading fees of those referred. Revenue share offers have no expiration date, allowing partners to earn passive income for the lifetime of the traders they recruit.
PrimeXBT is an advanced trading platform offering built-in charting tools and a wide variety of assets for trading at up to 1000x leverage, including stock indices, commodities, forex, crypto, and more. Aside from the lucrative referral program, there are many additional ways to drive revenue.
BitMEX
Although BitMEX is regularly surrounded by controversy, traders still swear by the platform and there’s no denying their referral program is straightforward and easy to get others to sign up for, due to the fact that any new referrals are offered a 10% discount on trading fees for their first six months on the platform.
It makes enlisting new users an easier sell, allowing existing users to profit further off bringing new blood to the platform.
BitMEX offers daily BTC payouts on rates of up to 20% in commissions. To achieve such a level, referrals must reach up to 10,000 BTC in trading turnover. Under 10,000 BTC but over 1,000 BTC gets 15% in commissions, and under 1,000 BTC gets just 10%.
The big catch is that a referred user must sign up within 7 days of being referred to the platform via a URL for the referral to count. If the user is signed up within 7 days, the person who referred the user will receive commissions for the lifetime of the account.
BitMEX is strictly for cryptocurrencies.
eToro
Sometimes simple is best, as it makes pitching signing up to a new trading platform a little bit easier for newbies who don’t quite understand the value proposition an experienced trader is offering.
In the case of eToro, the platform offers a very simple and straightforward referral offer of $50 earned for reach friend referred to the platform.
To make selling the idea of signing up to friends, family, and followers all the more easy, eToro will match the $50 the referrer gets and offer the new referral up to $50 to start trading with as well.
eToro has a wide variety of assets, including stocks, crypto, gold, commodities, and more.
Robinhood
Robinhood is a trading app offering access to stocks, cryptocurrencies, and more, without actually having to own the underlying asset. It also offers a very simple and enticing referral program, but one that is designed to fool referrers into thinking they’re getting a massive value when they’re really offered peanuts.
For each friend signed up to the platform, the referrer gets a free, randomized stock, valued at up to $200. The referred friend also gets a free stock under the same parameters.
However, upon reading the fine print, there’s a maximum of $500 in free stocks that a referrer can earn, and there’s a 98% chance of getting a stock valued at $10 or less.
There’s only a 1% chance of earning a stock valued at $10 to $50, and another 1% chance of getting a stock value at $50 to $200.
And while each stock’s share can continue to rise, adding to the value being proposed, earning a stock valued at $2.50 regardless of how strong it performs is unlikely to turn into anything noteworthy.
OKEx
OKEx’s referral program is demotivating just to read the terms, let alone trying to generate revenue from the offer.
The platform breaks their programs down into two separate tiers of earnings. At level 1, each referral must pass the KYC process, get verified, and make a spot trade of over $16,000 within the first 180 days of signing up to the platform. The return for this perfect storm? A measly 10 USDT, valued at roughly $10 thanks to the asset being pegged to the dollar.
Level 2 is more reasonable but requires ten referrals at level 1 first to reach. After ten signups have passed KYC and made spot trades combined valued at over $160,000, commissions start being paid out at 30% per referral. However, there’s a max of 100 USDT or $100 per week that can be earned.
All payments are made via USDT.
Bitfinex
Like most things pertaining to Bitfinex, their referral program is shrouded in mystery. Upon reading their official terms, commissions can be earned up to 38%, depending on three different “degrees.”
18% is offered on the 1st degree, 6% on 2nd, and 2% on 3rd, although the website doesn’t state what the conditions are.
Making things even more confusing, multipliers are offered for earning commissions depending on if the account holder has completed verification and passed KYC, if they hold UNUS SED LEO, the exchange’s native token, or if the links are shared via social media. Multipliers reach up to 1.5 the normal rate.
Bitfinex trades cryptocurrencies only, with max leverage of 3.3x.
Conclusion
The referral programs listed above are varied in nature and how much revenue can be earned. Carefully analyzing what each platform has to offer not only in terms of their referral programs, but their assets and trading tools matter in the long run and can make a world of difference in bolstering ROI.
Disclosure: This sponsored post was paid in BTC by PrimeXBT.
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