4.2 / 5
Rating breakdown
Thorfx Review and Analysis
Overview
A relatively young broker, ThorFX has recently enjoyed a brand overhaul with refreshed design and new platform features. It is obviously less established than other options in the industry but sets itself apart from competitors with its ambitions to create an online community and support traders of all backgrounds.
Detailed Review
A review of the ThorFX Affiliate Programs – How to make money on ThorFX
ThorFX is an ECN brokerage offering versatile support for traders of all levels, asset interests, and strategies. The listing of tradeable products encompasses forex pairs, cryptos, indices, stocks, and commodities, making it convenient for traders looking for diverse exposure. The platform accommodates traders of different levels through a choice of four account types which vary according to scale, deposits, and spreads, but all accounts benefit from the same fast and direct no-dealing-desk brokerage services. In terms of trading, versatile lot size (including micro) and leverage of up to 1:500 exemplifies the platform’s above-average derivative trading flexibility.
As mentioned above, the platform has recently undergone an aesthetic and structural make-over. The brand draws inspiration from its name by incorporating epic Norse folklore into its design, but melded with a focus on modern trading technology, the result is fresh and unique without becoming gimmicky. Moreover, the theme is more than purely aesthetic: with comprehensive Trading Academy educational materials, content creator support, and an innovative Affiliate Program, ThorFX offers the foundation for an inclusive and ambitious trading community.
ThorFX Affiliate Program Review
This review is specifically concerned with the ThorFX Affiliate Program opportunities. From assessing the structure of the program itself to the support offered by the broker, we hope to offer potential affiliates an insight into whether a partnership with ThorFX would be the right fit.
ThorFX is not alone in offering an Affiliate Program. The system of paid partnerships or referrals is a common feature of the industry whereby Affiliate users can leverage their networks to bolster support for a platform in return for a commission. Traders are spoilt for choice if looking for Affiliate opportunities, and this makes it all the more important to find brokers who can provide competitive rewards as well as something unique that stands out in the trading world.
The ThorFX Affiliate program is multi-tiered in order to accommodate Affiliates of experience level and to incentivize progression. The community-focused theme of the broker shines through in their efforts to make every trading opportunity accessible and scalable, and the Affiliate Program is no exception. Indeed, as the ThorFX website promises traders the chance to “become the hero of their own story”, it is good to see this borne out in the variety and flexibility of earning opportunities on offer.
Essentially, the program requires Affiliates to distribute their individual referral code to followers and rewards the Affiliate for every lot traded through their link. Online Affiliation programs such as this are convenient for traders looking to enhance their earnings in their own time and without any obligation. Affiliates are free to choose their online promotion strategy whether it be via social media, YouTube, blogs, forums, or other websites. In return, ThorFX provides access to a specialized Affiliate Portal that offers personalized analytics and referral tracking so Affiliates can monitor the progress of their network.
In addition to commissions, ThorFX Affiliates benefit from exclusive educational content, professional and personalized marketing support, and even private competitions and giveaways for individual Affiliate networks. This means that Affiliate gain access to bonus materials and opportunities in addition to ThorFX’s general promotions and comprehensive Trading Academy resources. Overall, the structure of the Affiliate Program seems geared towards fostering long-term, mutually-beneficial partnerships between broker and Affiliate and motivating continuous progression.
What are the Commissions of the ThorFX Affiliate Program?
Commissions are tiered according to the number of referred lots traded through the Affiliate broker’s link. Every ThorFX Affiliate stars on Level 1, earning $2.50 per lot or $3.75 for cryptos; if over 999 referred lots are recorded, the Affiliate progresses to Level 2. Commissions rise to $3 per lot or $4.50 for cryptos on the second tier, where 4999 lots must be referred for promotion to Level 3. The top tier offers $3.50 per lot, or $5.25 for cryptos. Since crypto trades are rewarded at a higher level, the program may be ideal for Affiliates with this specific asset focus in their network.
However, an Affiliate’s position is dependent upon consistent referrals and demotion between levels is possible. For example, if Level 2 traders do not achieve 1001 referred lots for two consecutive months, they will regress to Level 1, where they will then have to achieve 1001 lots for two consecutive months before returning to Level 2. Similarly, Level 3 traders who fail to clock 5001 lots for two consecutive months will have to record this number of lots for two consecutive months in Level 2 before climbing back to the top tier. This keeps Affiliates motivated in their network progression but does penalize temporary inactivity or lapses in effort.
Nonetheless, it is worth bearing in mind that registering as a ThorFX Affiliate is completely free, so traders of all levels can start adding to their income with no cost upfront and no particular pressure to progress beyond Level 1.
The pros and cons of the ThorFX affiliate program
On the one hand, ThorFX is at a disadvantage when enticing traders and Affiliates due to it being a new and less well-established broker in the industry. At the time of writing, it is also an unregulated broker, which is certainly a weakness compared to other competitors and a potential red-flag to prospective users.
On the other hand, there is an exciting opportunity for Affiliates to grow with the brand and benefit from a lack of pre-existing competition on the same platform. For newbie Affiliates or those who identify with the brand’s strong, non-generic concept, a partnership with ThorFX offers the chance to become part of a unique trading community that actually stands out. Further, this vision of a cohesive and communicative trading community is no doubt intended to reinforce transparency, accountability, and responsiveness, even if the broker is young and relatively unknown.
The multi-tiered structure of the program carries both pros and cons. Affiliates can indeed start completely from scratch in Level 1 and will benefit from basic marketing support alongside a base commission. Progression to Levels 2&3 is dependent upon the number of lots traded but unlocks more educational and promotional material and access to private competitions. Since commissions are also upgraded, Affiliates are incentivized to grow and develop their networks with proportional support from ThorFX. However, as discussed above, this support is conditional; Affiliates can be downgraded if their referrals fall short across consecutive months.
Pros of the ThorFX Affiliate Program:
- Multi-tiered commissions according to network size
- Enhanced commissions for referral of crypto trades
- Incentive to grow network and earn more
- Free registration and set-up
- Uncapped bonuses; unlimited earning potential
- Reliable weekly payout of commissions
- Exclusive educational materials in addition to Thor Academy learning resources
- Exclusive marketing materials to share across platforms
- Professional marketing support and strategic advice
- 24/7 support through phone, live chat, or email
- Dedicated affiliate portal with advanced analytics and tracking
- Bonus promotions and competitions for Affiliate networks
- Partnership with an exciting new brokerage boasting innovative community support and above-average ECN trading
Cons of the ThorFX Affiliate Program:
- New, unregulated brokerage
- Exclusive materials/promotions dependent on progression in tiered program
- Consistent monthly referrals required to avoid demotion of earnings
- Weighting of commissions in favor cryptos disadvantages forex/stock/commodity-focused Affiliate networks
How Can you Sign Up for the ThorFX Affiliate Program?
The signing-up process to become a ThorFX Affiliate is self-explanatory and easy:
- Step 1: Registration
- Step 2: Refer
- Step 3: Track
- Step 4: Earn
Step 1: Registration
Follow the registration link from the ThorFX website to receive your own unique referral link.
Step 2: Refer
You can embed the referral link across your other platforms, social media, websites, or blogs and encourage followers to join ThorFX. Even Level 1 Affiliates will be provided with basic marketing materials to give online promotions a polished and professional edge.
Step 3: Track
Through the dedicated ThorFX Affiliate Portal, you can track referred trades and monitor the growth of your network according to traffic, trade volumes, conversions, account openings, and more.
Step 4: Earn
Receive your commissions on a weekly basis according to your referrals. With an active network, you can enjoy a reliable extra stream of income.
The ThorFX Introducing Broker Program
Besides the affiliate program, ThorFX also offers an Introducing Broker program open to those who wish to use their own networks in order to recommend and introduce traders to ThorFX.
Concluding remarks
The ThorFX Affiliate Program is an appealing option for experienced Affiliates and newbies alike. The tiered structure keeps Affiliates motivated in their referral efforts and rewards consistent growth to strengthen long-term relationships with the broker. Whilst Affiliates are threatened with demotion from the higher levels, the fact that the partnership is completely free means that there is no obligation or pressure on traders to recover an initial investment.
Overall, the program is an apt reflection of refreshed brand’s community ethos, nurturing education and progression under a unique and eye-catching theme. Affiliates looking for an unusual broker with a creative concept should certainly consider partnering with this innovative new brok