Plus500 is an online broker in forex and CFDs, catering mostly towards novice traders. Its biggest advantages are an incredible CPA (up to $570) and a high conversion rate due to a free no-deposit bonus. While its (both trading and affiliate) software isn't state of the art, in terms of profitability it is second to none in the retail online trading niche.
The product
The best point to start our affiliate program review of Plus500 (or 500Affiliates, as the program is actually called) is by looking at what exactly it has to offer to the end consumer. Plus500 offers online trading services in forex (foreign currency exchange) and CFDs (contracts for difference). It does so through a basic, easy to use trading program that one can download or access through a web browser.
The software is nothing special and the spreads and rollover rates aren't particularly sharp (meaning they're not the cheapest). Where Plus500 truly stands out for the concumer is with its $30 no-deposit bonus. This means new customers get to use its services for free, with $30 'on the house'.
The affiliate program
This $30 no-deposit bonus is a great way to boost conversion rates. Customers are required to give their phone number in order to receive the bonus, which will later be used to sell a full-fledged trading account. Once the customer makes a real deposit and executes a minimum number of trades, the affiliate (that is, you!) receives his CPA. And what an affiliate commission it is... up to $570 (depending on the geographic region) for one single new trader!
Of all the affiliate programs I have reviewed, none beats the profitability of Plus500 in terms of CPA/conversion. Alternatively, you could opt for a revenue share (up to 25%), but I wouldn't recommend this. Most forex traders go broke after a few months and don't return to the game.
What they offer you
Plus500 has a very good affiliate support, with your personal account manager who keeps in close touch. This has enabled me in the past to hammer out good deals and set up special promotions. Their online affiliate environment offers a LOT of marketing materials in many languages, so promoting them is made easy as pie.
In terms of its affiliate software, 500Affiliates is adequate, but not great. It is clear that software development is not where they allocate their money (but, fortunately for us, CPA and welcome bonuses are where it goes). You can view monthly reports of demo registrations, real registrations and commissions earned, but only with a three-month history and no additional details.
The tracking software may not be great, but so far they've always paid me accurately and on time. There is a minimum payment threshold of $150. Normally I would consider that to be absurdly high, but given that the CPA for just one customer is already higher than that, it doesn't really matter. The best way to receive your payments from Plus500 is through MoneyBookers. They do write cheques, but those take time to arrive and are costly to cash. If you're serious about affiliate marketing it is wise to have a MoneyBookers and a PayPal account anyway.
Affiliate review conclusion
Plus500 offers decent online trading software for novice traders. To their affiliates they offer good support and marketing tools. Their tracking software is reasonable, but they have established themselves as a reliable and prompt payor. Due to their enormous CPA and excellent conversion rates, it doesn't get any more profitable than this. If you run a website about trading, investing or personal finance, Plus500 is a great affiliate program to work with.