Combined strategies to make money on Forex

[Mila Eryomina]

Types of Forex incomes: trading, copy trading, affiliate programs. How to build your own system of passive income by Forex trading?

In addition to common trading currencies, commodities, and other assets, there are some more ways to generate passive income in Forex in addition to trading. For example, you can provide an opportunity to copy your trades to other traders and receive part of their income for this. You can also receive additional income from affiliate programs when your referrals make trades. Read on and you will learn about these ways to build your passive income with Forex and how to combine them to increase your earnings.

Combine several ways to make money on Forex

Are you a professional trader and making money on Forex trading? Do you know about the ways to receive extra passive income? From this overview, you will learn about the following techniques to make more money:

• How to open an account for copying trades by other traders and how to make money on copy trading.
• How to make earnings on Forex without investments and generate passive income.

You will also learn about some unique LiteFinance offers and secrets that will allow you to make more money on Forex!

Forex trading is beneficial because it provides several ways to make money so that you can generate both active and passive income. You can use all these ways together, multiplying your investments and increasing your cash flow without spending too much effort.

Trading itself is active earnings. And, while you are making profits from your trades, you can generate additional passive income. Passive income ideas include social trading networks and earning referral rewards.

1. How to make money from copy trading forex (social trading)

Copy trading or social trading is a unique service that allows successful traders to share their trading signals and trading behavior with newbies and investors, making extra profits. You will find a detailed guide to how an investor can join social trading platforms and start copying trading in this here. In this article, I will cover the advantages and opportunities that social trading provides to traders who want to share their trading behavior.

Advantages of social trading:

• You generate passive income from the profits of those who copy your trades. If a trader is losing money for some reason, you won’t lose anything. If the trader, thanks to your trading signals, has made a profit, you receive the percentage of his/her profit that you define yourself.
• Attracting new investors who copy your trades (domino effect). The more traders are copying your trades, the higher is your ranking, and the more popular you are for potential investors. Potential investors see the number of traders who already copy you like the indicator of your performance.

Accordingly, the more new investors you have, the higher is your passive income. You will receive your commission once a new investor joins a copy trading platform, makes a deposit, and copies the first trade.

• You can make profits from referral links of those who copy your trader (I will explain this further).

When other traders copy your trades you will also feel psychological satisfaction. It is pleasant to know that other people are interested in your knowledge and experience. At least it makes you more self-confident and motivated to develop your trading skills.

How it works

In your Client Profile, you click on the Profile tab and open the section “About me”.

Next, you click on Edit and switch on the option “Make available for copy trading”. If you have activated this function, you will see the Trader’s questionnaire.

Here, you need to fill in the information about your trading strategies and trading style: transaction frequency and duration, the number of instruments you trade, type of orders, and so on. After you are through the questionnaire, go back to the “Make available for copy trading” menu. If it is disabled, activate it again by moving the slider to the right. You will see the confirmation window.

Confirm that you agree to add your account to the trader’s ranking. And finally, set the commission rates (the percentage of profits from copying). The commission for the previous trading day is credited at the begging of every new trading day.

A piece of advice

Be sensible. You set too high commission you will discourage potential investors. If your commission fee is too small, you will miss some profit.

Calculate the commission amount based on the following parameters: the amount of income from the commission you want to receive, the number of active investors who copy you, transaction frequency, and the total profit from trades over a particular time.

Find out the commission that is set by other traders with approximately the same rankings as you. Remember, other traders, who provide their accounts for copying, are your competitors. Therefore, your conditions/performance should be more attractive for investors in financial markets.

2. Affiliate programs (referral income)

Making money on affiliate marketing programs means that you generate smart passive income by attracting new referrals (traders). Chatting on trader forums, you can help beginner traders register with your broker and start trading. If they use your referral link, you will receive from LiteFinance a partial compensation for the spread from referral transactions. The more referrals, the more passive income.

Benefits that you will have:

• Passive income up to 70% of the spread of the trades made by new traders you have attracted. You may not trade yourself, the referral income will be paid to you as recurring commissions daily anyway.
• You can build your own multilevel affiliate network and turn participating in the affiliate program into your own business. 

Important! Note that you can combine two types of passive income, referral income, and earn money from letting your trades be copied. When you attract a new trader and help him/her register via your referral link, you can offer than copying your trading behavior. Differently put, you will receive the commission for copying your trades and an additional amount of money up to 70% of the spread from each trade of your referral.

How it works

In your trader profile, you enter the Affiliate menu where you find your referral link

You can share this link on any web hosting and Internet resources. Important! You will receive the compensation for the spread of your referral’s trades if the referral registers by going to the registration page only via your referral link.

You can attract an unlimited number of referrals. You can place your referral link on forums, mailing lists, create your own website and share the link there, etc. You can learn more about forex affiliate programs and the ways to make money on partner programs here.

LiteFinance special offer. Those, who have $250 and more on the real account, can take advantage of “Bring a friend” special offer. You can learn more about this by entering your personal profile menu in the top right corner.

You will get your personal referral link to share a gift promotional code for a 100% bonus for your referral’s first deposit.

You will receive 50 USD on your real account for each new trader with the deposit starting from $250, who will register via your link. You can freely withdraw the reward from your account. The new trader who follows your link will receive up to 100% of his first deposit to his/her bonus account.

Conclusion

Forex market gives a lot of opportunities to make money, you just need to use them. You can earn not only using your knowledge and trading experience, but also using your management and marketing skills.

Social trading and affiliate programs are just some of the ways how you can make money on Forex. You can decide only yourself. DO not miss a chance to make extra money! If you have any questions, feel free to ask in the comments!

[Anna Roccova]

I came to trade in Forex when I studied the reviews of traders. I liked this broker for its customer service. I was able to learn a lot of things by talking on the company's forum, studying the analytics of specialists. I trade through the app at https://happyhamster.io/. I'm not going to change my broker.