SKY Forex Partners Program
And introducing broker
- In-house online web promotion
- Educational Tools
- System emails and promotional emails
- Sub affiliation promotion
- Campaign management
- Media assets integration & management
- Operational Environment
- Campaign Management
- Functional Requirements
- Asset Management
- Interaction Fragment Creation Description
- Functional Requirements & process
- Performance Tracking
- Functional Requirements
- Functional Requirements
- CPA (Cost per acquisition)
- CPA (Cost per acquisition)
- Flat Fee
- Revenue Share
- Incremental revenue share
- Hybrid agreements
- Information providing website
- Registration process
- Affiliate activity requirements and restrictions
- Remuneration requirements
- Payment requirements and procedure
- Friend referral client acquisitions
- Introducing broker (IB)
- Information providing website
- Registration process
- IB activity requirements and restrictions
- Remuneration requirements
- Payment requirements and procedure
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more third parties for each visitor or customer brought about by the third party’s own marketing efforts. This labels the third party as being affiliated with the business after which the third party was universal branded under the term” affiliates”. The industry has four core players: the merchant (also known as 'retailer' or 'brand'), the network (that contains offers for the affiliate to choose from and takes care of the payments), the publisher (also known as 'the affiliate'), and the customer. In most cases the same company, making the provided network an important segment of the company’s strategic marketing and operational plans, owns the merchant and the network.
The market has grown in complexity to warrant a secondary tier of players, including affiliate management agencies, super-affiliates and specialized third party vendors.
Affiliate marketing overlaps with other Internet marketing methods to some degree, because affiliates often use regular advertising methods. Those methods include organic search engine optimization (SEO), paid search engine marketing (PPC - Pay Per Click), e-mail marketing, and in some sense display advertising. On the other hand, affiliates sometimes use less orthodox techniques, such as publishing reviews of products or services offered by a partner.
In today's internet marketing unrelated to the industry, affiliation is one of the main marketing activities as to bring targeted traffic and potential clients to ones services. No internet oriented business is able to function without this regardless of size and location.
The largest global online retailers and service providers like Amazon & eBay are for a large part depending on the marketing of their service and/or their products through the third parties as traffic providers.
Before the internet was globally available to the public, the banks and larger institutions & companies monopolized the Forex industry as only they had the means to execute the orders. The internet has changed this industry in such a way that the threshold has been lowered for the smaller retail traders to be part of this industry, creating by itself a revolution in the foreign currency exchange industry. The Retail Forex market was in 2010 almost 6% of the overall Forex market.
The Forex market in Europe is mature, regulated and hyperactive competitive. Although there is a slight natural growth, it doesn’t justify the large number of brokers competing for same clients. High regulation costs led to consolidation and change of focus on the high growing emerging markets. As a result, the active and starting brokerage companies started to look for the means of attracting new traders through media means.
With the tremendous amount of information, courses, market reviews and broker information that is being offered today, brokers compete among themselves for exposure on these thousands of media Forex websites.
In order to receive this exposure an alliance format was created between the media outlet and the broker which resulted in today's affiliation programs. The retail forex market as is today would cease to exist, as we know it without the format of the affiliates providing the brokers with the clients.
Understanding that the affiliation market is a keystone of its success of the business the design and development of our partner program is such that first the affiliates are treated as business partners in compliance with the regulations dictated by the MFSA and vision of our company.
The SKY Forex partner program is mature in its offering and innovating in the tools provided to the partners for developing and maintaining their business. Modeled after the most successful programs by licensed reputed brokers but adding some new key features for enhancement of function and user experience, the program on launch exceeds by far the average market standard of provided tools , reports and operational solutions.
Because everything is designed by experienced market leaders in the affiliation market for the forex industry and programmed in-house the offered and program has no equal in today’s affiliation programs for the forex market.
The affiliation program will be responsible for approximately 30-50% of the active lead acquisitions of the SKY Forex brokerage making it a vital part of the brokerage success.
We believe that our program should be innovating and offering tools and features, which are lacking or are insufficient in today's forex affiliations programs industry.
This means that while offering the same tools and requirements like all other partnership programs active in the market today we should and are able to offer more value for the partners through the transparency and identifying the partners in such manner that we will be able to cater to them according to their individual needs.
Getting to know the partner , besides just collecting the required documentation is a must in order to establish a long a fruitful partnership in which both parties feel that they are part of the discussion and mutual respect is established and preserved for the betterment of all parties involved.
In-house online web promotion:
Search engine optimization (SEO): is the simple activity of ensuring a website can be found in search engines for words and phrases relevant to what the partner program is offering to affiliates and thus creating new partners & affiliates.
Social Foot printing: through the use of popular social media like Facebook, twitter, LinkedIn as well as relevant blogs and forums the internet population is frequently informed and engaged concerning our partner program in order to increase the brand, receive feedback, acquire new partners, update existing partners to the latest options and relevant company news.
PR distribution: Through dedicated online PR distribution services the online forex community will be informed about the SKY Forex partner program and the tools and solutions, we are able to provide to the online affiliation industry.
Through target industry related conventions and trade shows SKY Forex partners will position itself among the leading programs in the market. There are today numerous conventions aimed at the affiliation market where the affiliate meets the providers of the programs in an organized setting. We will attend and be present with a stand on several of these events in order to inform and engage affiliates onsite.
By offering in the program tools for affiliate that shows and educate them how in a general sense to build their business unrelated to SKY Forex through social media, SEO and online video promotion we establish a healthy and beneficial relationship with the partners. The focus for these tools is to explain beginning affiliates how to get traffic to their websites.
System emails and promotional emails
Every registered participant of the program will receive system emails and promotional emails in order to stimulate activity. The aim for these emails is to engage the partner in becoming more active and use the tools and systems we offer to the fullest. NO email will be sent to any party that has not indicated that he or she wants to receive these emails.
Sub affiliation promotion
SKY Forex partners program has a sub affiliation program (see 6.I for more details). In order for the affiliate to be able to promote this part of the program, the affiliate is provided with dedicated creative materials in introducing and acquiring the sub affiliate.
The system will allow affiliates to register; new users will undergo an approval process by the system administrator.
A crucial component of the workflow is campaign management. Every affiliate will be able to organize his marketing efforts by any criteria he sees fit. The system will provide sane default containers, notably “Web” and “Social Media”.
Each campaign will carry a specific “compensation scheme” association -- which means that the affiliate’s earnings on business generated by said campaign will be calculated differently.
Media assets integration & management
Given the fact that SKY Forex will provide a multitude of assets (I.E., banners), the system will allow affiliates to leverage said assets in a user-friendly and easy manner.
An affiliate will be able to create containers, under which he will generate “Interaction fragments” by selecting an asset, (and, optionally, a specific NFSX-provided landing page). Once the affiliate generates the fragment, he will then be able to embed it on his website.
The system will be deployed as a web application, with a database back-end. The operating system will be Linux. The system will also via mobile applications (iPhone / Android).
The system will allow users to register. Once their application is approved, they will be able to access the system.
The registration form is composed of the following fields:
- PRIMARY CONTACT DETAILS:
- First name
- Last name
- E-mail address (unique; used as a credential)
- Address (Street, City, State if applicable, Country)
- SECONDARY CONTACT DETAILS:
- IM accounts (skype, msn, gtalk, aol etc)
- Social accounts (Twitter, linkedin, facebook, G+)
- BUSINESS DETAILS
- Web Address (s)
- Nature of Business (web, email, social, offline)
Once a user fills out the form, his account will be created in a dormant state and a notification will be sent to the system administrator. The administrator will review the registration request and either approve or deny it. The user will be notified of the outcome by e-mail. If the application is accepted, the notification message should a quick-login link - which will prompt the user to change the password upon visiting it.
Post registration, users are redirected to the campaign creation page or ‘guided-tour’ video
Once a user has brought sufficient business to warrant a payout, he will be prompted to enter payment details. The system supports the following payment methods:
- Bank wire
- Other selected PSP`s
Once a user’s account has been activated, he will be able to create campaigns (which are containers for “interaction fragments”).
Each campaign will consist of a name and a compensation scheme. Once a campaign is created, it will appear in the campaign list.
Beside every campaign, the following items are displayed to the affiliate:
- Number of interaction fragments - see “Asset Management” - real time.
- Total clicks - the data real time.
- Total registrations - the data real time.
- Total conversions - the data real time.
- Total impressions - real time.
Interaction Fragment Creation Description
As described earlier, an interaction fragment is an asset wrapped in presentation code. There are several types of fragments, each with a couple of properties:
- Static image banner (dimensions)
- Animated banner (dimensions and type, I.E., Flash/Silverlight/HTML5)
- Text link
- Widgets (calendar, quotes, news, etc)
- Social Assets (tweets, links, likes, subscribes, invites)
- Landing pages
All fragments are offered in a multi lingual format according to the supported.
Functional Requirements & process
The user will be able to create interaction fragments by progressing through a simple wizard composed of the following steps:
- Asset type selection.
- Dynamic property selection (irrelevant for text links)
- Asset selection
- Destination selection
- Code generation
In step 1, the user will choose the type of asset he wish to embed, E.G., “Static image”.
In step 2, if applicable, the user will narrow down the options presented in step 3 by choosing a value for the dynamic properties. In the case of “Static image”, the user will be presented with a list of dimensions (I.E., “468x60”, “88x31”, etc). Step 2 will repeat until all mandatory properties have been selected.
Step 3 will present the user with a list of assets matching the criteria defined in steps 1 and 2. Continuing with the example of a “Static image”, this step will require the user to choose a banner from a list (backed by an asset store).
Step 4 will require the user to choose a destination for the fragment. A list of SKY Forex landing pages will be provided, based on properties selected in step 2. Assuming that the user has selected “English” as the asset qualifier, a valid destination page will be either “skyforex.com” or another landing page (as configured by the site administrator). Each asset will have a recommended landing page specified by the site administrator.
In step 5, the user will be presented with a unique HTML code, containing:
- His affiliate ID
- The interaction fragment’s unique ID
- The parent campaign’s unique ID
The code, once placed in a web page, will then direct the user (usually through an intermediate system), to the chosen destination page.
Link in code is masked (by making use of a URL shortened)
Every interaction with the system, either by its users, administrators or end-clients is tracked and logged.
The following data points are logged for every event (where applicable):
- UTC timestamp
- IP address
- Fragment ID
- Referring page
Whenever a banner is presented to an end-client.
Whenever an end-client clicks on a fragment.
Whenever an end-client registers and becomes a lead (after following a fragment link).
Whenever a client deposits funds for the first time (creating a “Conversion”). The amount and currency must be logged.
Whenever a client deposits funds. The amount and currency must be logged.
Whenever a client closes a position. The symbol, position size, and the profit/loss must be logged.
Web Engagement logging: Track and log every engagement with SKY Forex properties:
- number of previous visits
- entry page
- exit page
- time on site
- number of pages visited
Social Engagement Logging:
Facebook likes, shares, re-tweets, @mentions, etc should be logged when possible.
The system must present the user with comprehensive reporting capabilities. Each report type should be filterable & sortable by date range. Date range pre-sets are defined (I.E., “daily”, “monthly”, “weekly”, “all time”, custom time).
Performance data will be retained indefinitely; the system will allow the affiliate to query the data and generate graphical reports.
Event Summary for affiliates
Every relevant event type that has been logged as relating to the user’s account is properly presented - the user is able to select the type of event and a date range.
The supported event types are:
VISITOR ACTIVITY ENGAGEMENT REPORT AFFILIATES
- CTR %
- registrations (demo accounts)
- conversions (live accounts)
- New CPA accounts
- CPA commissions
- Revenue share commission
- Sub affiliate commission
Same as event summary, but per a specific campaign.
A list of all payouts performed to date.
Introducing broker and money manager reports
After full verifications (see partner requirements table) specified partners have additional reporting in order to manage their portfolio.
Each report type should be filterable & sortable by the following fields:
· Report: Partner CRM = per campaign, time frame, country, language, Email / ID
· Report: Account CRM = per email, per account type live or demo, time frame
· Report: Account volume report = account id, time frame, volume per platform type, type account
|Partner CRM||Account CRM||Account Volume Report|
|trader name||account ID||transaction id|
|Email - name||account type||account number|
|campaigns||open position date|
|commission type||Country||open position price|
|media type||registration date||close position date|
|country||last activity||close position price|
|language||last position date||transaction amount|
|platform account Demo||P&L||gross revenue|
|platform account Live||account volume / lots||net revenue|
|total deposits||account deposits||commission per trade|
|total withdraw||account withdrawal||pip value|
|total Bonus received||last withdrawal date||roll over / swap|
|last activity||account bonuses|
|account net revenue|
As a solution providing company it is important for us to cater to all the different types of partners with the equal dedication and commitment.
We offer the following rebate solutions
- CPA ( Cost per acquisition)
- CPL ( Cost Per Lead)
- Flat fee
- Revenue Share
- Incremental revenue share
- Hybrid agreements ( combination of two or more commission structures)
CPA (Cost per acquisition)
We have seen that in the market every country has a different value and thus we decided to compensate accordingly. Like all brokers everyone has problems with the fraud that CPA automatically invites. This is calculated through to the affiliates resulting in a lower CPA that would be possible if there was a way to excluded all fraud. Since the tracking allows us to see where the lead is coming from we are able to assign certain CPA compensation per lead per country. This means that a lead from Germany will be valued different then a lead from Sri Lanka.
What will be possible this way is when an affiliate does a special campaign then for this campaign it is possible to create a special CPA for his targeted market. The moment they invest funds in order to reach a certain demographic we will be able to assist by offering a tailor made plan that best reflect the partner's activity
When there is a special holiday in a country and you are running a campaign for this holiday, then for the duration of that holiday and the targeted market we are able to instant assign you a special CPA without having to change any a former settings. This revolutionary approach is clear and explained through tutorials and assistance giving the affiliate a better view of the value of their traffic.
In order for a partner to receive CPA for a referred trader this trader is required to open an minimum amount of positions.
B.CPL (Cost per Lead)
Many online marketers work through CPL, which means that verified leads are provided to our sales department for further processing.
The CPL is generally set a certain amount (for example $15) per lead. Any contact that is defined as a lead is someone who has clearly indicated that they want to be contacted by our sales department. This is in order to make sure that at NO time we are considered to spam the potential client.
This format is primarily used for media providers that rent out their online real estate to our brokerage for a set fee per time cycle. A set amount is paid to the supplier for exposure of our brokerage through his means. This can range from a newspaper ad to a banner on a high trafficking website.
At its most general definition, Revenue Sharing refers to the sharing of profits between us the broker and the partner that referred the trader. In real time the trading activity generates revenue for the company and the affiliate is rewarded a certain percentage of this profit. The percentage is established by determining the net profit and simply allocates the partner his share.
In today's market this is the format used of almost 80 % of all affiliate agreements between the service provider and affiliate. In this format the partner is partly ( in accordance to the % he receives in the agreement) responsible for the bonus that SKY Forex offers to its new clients.
Payment is per monthly time cycle equal to CPA rebate payment.
E. Incremental revenue share.
larger affiliates, Introducing brokers and Money Managers and all know more or less the amount they are to earn in future months , nonetheless there are differences between the months when sometimes a few of the traders under their account are trading more than at other times. This is when you should be rewarded accordingly.
The incremental part means that when you pass in the time frame set for your account (which is by default a month but can be longer) you reach a higher level of generated revenue you will automatically receive a higher level of % for that month. Every month the level goes back to your default but you will always have the opportunity to earn more.
If you as a large affiliate generate $ 45,000 per month you would be on for example 30% revenue share plan as a set amount of percentage to be received and receive the compensation for that month of $13,500 , then if that month you generate $60,000 instead of $45,000 you receive not $18,000 which is the 30% as set percentage but $19,200 because you passed the 32% threshold . so they earn $1200 more than if you were on a set agreement.
This revolutionary incentive rebate model allows the partner to be truly compensated for their activity making us the first in the market to offer this amazing model.
This model is on request basis only and the account manager will be able to explain the partner who to works with instructive documentations besides the tutorials available to all partners.
A hybrid agreement is the terminology that is used for a combination of two or more commission structures. In general, this means a combination of a lower than regular CPA scale and lower than regular revenue share agreement. However, other formats are possible in accordance to the desires of the client and meet the SKY Forex partners’ requirements.
We identified and cater to several different kinds of partners. Each partner has different requirements of our system and at the same time, each partner required different compliance:
|Type of partner||Sub - Type of partner||Requirements|
|Affiliation||Web affiliate||personal details, contact details, and matching payment details|
|Affiliation||Media service provider (MSP)||company details, matching payment details|
|Introducing Broker||Regular Introducing Broker||KYC documentation, matching payment details|
|Introducing Broker||Educational service provider||KYC documentation, matching payment details|
|Introducing Broker||Rebate service||KYC documentation, matching payment details|
|Introducing Broker||Corporate Partner||corporate documentation of all owners, copy license(s) if required by domestic country|
|Introducing Broker||Signal service||KYC documentation, matching payment details|
*KYC documentation = Know you Customers documentation (proof of identity, proof of residence).
Processes involving the affiliate
Information providing website
The information that is provided on the SKY Forex partners website covers everything that the affiliate requires to know in order to make an educated decision on signing up with SKY Forex partners program. This includes but is not limited to Rebate plans, requirements for opening an account, payment processing, tools offered, all reporting options, corporate information about SKY Forex brokerage.
An affiliate goes to the SKY Forex partners’ website and fills in the required field on the signup page. This includes name, email, country, and telephone (this is industry standard). after reading the terms and conditions which are available through a clear link on the registration form, the application needs to agree with the terms and conditions by clicking the appropriate check box, in order to be able to submit the account request. After which he will receive an email welcoming his to the program containing also a link that the new applicant is required to click in order to activate his or her SKY Forex partners account. At the same time the account manager who has instantly been assigned is to contact the new partner in order to welcome and introduce the partner to the system. At any time, we reserve as published, the right to block and affiliation account request on our discretion.
Affiliate activity requirements and restrictions
A new affiliate is required to provide an email address he or she owns which we test through our activation link requirement. In addition name and telephone need to be provided. Due to the nature of the affiliation marketing verification of the name is not required till payment details are submitted.
The affiliate is to uphold all requirements and restrictions that are in the terms and conditions (see attachment 1 for the terms and conditions for affiliation account)
Every rebate ( commission) structure as mentioned in point 7 comes with clear requirements which are published in the dedicated commission section on the SKY Forex partners website in addition to the SKY Forex partners program. For CPA this means that there is a minimum amount of open positions that are required for paying the affiliate commission for this client. The affiliates are able to track the activity of the clients without being exposed to their actual identity in order to be able to track their earned commission.
Payment requirements and procedure
In order for the affiliate to receive his commission he needs to provide SKY Forex with the details to where the commission needs to be paid. This is possible through bank transfer (required all details of the bank account) credit card (required copy of the credit card) online wallets.
Once a payment method is inserted into the system the affiliate is unable to make changes to th