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FXOpen, an Australia-headquartered forex brokerage, said it will change the terms of its referral program to require partners to get paid only after they have referred at least three new customers.Moreover, commissions under $10 will not be paid, nor displayed on the partner’s balance. Amounts below $10 will be displayed as commissions on hold. The changes will come into effect as of 3 April, 2017.
“In order to boost the development and improve the quality of our partneship program, we decided to put in place the minimum benchmark on the number of referrals,” the broker noted.
In addition, the broker also intends to launch several promotional offerings, such as increased partnership remuneration for particular currency pairs and improved conditions for new partners in the near future.
Under the referral program, FXOpen partners can generate a referral link, which to share with clients they’ve attracted. Each new refer client must open a Live account with FXOpen using the referral link. For each attracted trader’s closed position, partners receive in USD commission of 2.4 pips in an STP account or 15% of the commission charged for the transaction for ECN and Crypto accounts.
The broker provides a wide range of marketing materials and services to facilitate its partners.
FXOpen offers trading in forex and contracts for difference (CFDs). Through its subsidiaries the brokerage is licensed by the Australian Securities & Investments Commission (ASIC) and by the Financial Conduct Authority (FCA), UK’s financial regulatory body.