If you earn money through CPA, hybrid, or revenue-share deals, knowing how to track & attribute conversions is crucial. This process helps you identify which clicks lead to real traders on MT4 and MT5. Besides that, it reveals which campaigns are failing to deliver results.

According to the most recent BIS survey, the global FX market now trades about $9.6 trillion daily (Bank for International Settlements). Brokers are willing to offer high CPA and hybrid deals given such volume. However, only if conversions are tracked and accurately attributed.

Why Tracking Forex Affiliate Conversions is Vital for Your IB Business

It’s important to understand why knowing how to track & attribute conversions matters.

Without reliable tracking, you lack insight into which traffic sources are bringing in financially invested traders. This can lead to the inability to secure better CPA or hybrid deals based on performance.

Other than that, occurrence of risks of disagreements, under-reporting, or over-reporting conversions. You’ll have decisions based on assumptions rather than data.

With reliable tracking, you can:

• – Demonstrate to brokers that your traffic is consistent and high-quality.
• – Reallocate money from underperforming channels to more successful ones.
• – Identify fraudulent or low-intent traffic early.
• – Build a sustainable long-term IB or affiliate business.

Recent benchmarks indicate that the average conversion rate for affiliates is between about 1% and 3%, but top performers can exceed 5% (Shopify). Improvement is impossible without knowing your current standing.

Building Blocks of How to Track & Attribute Conversions

Every system for tracking forex affiliate conversions connects three key elements. They are the user clicks on your email, social post, or website.

Next, the broker’s system for registering and trading (usually MT4 or MT5) and the affiliate program or forex affiliate tracking software that attributes conversions to you.

Basic Methods to Track Conversions in Forex Affiliate Marketing

There are three main methods:

1. Monitoring Links and UTMs:

• – Unique affiliate links include IDs like aff_id and sub_id.
• – UTM tags such as utm_source=facebook or utm_campaign=copytrading simplify analysis in analytics tools.
• – Essential for any campaign.

2. Tracking Pixels or Scripts:

A JavaScript pixel fires on the “thank you” page after a user signs up or makes a deposit. It’s a simple setup. But it can be hindered by ad blockers, cookie limits, or script errors. It’s best suited for short, straightforward funnels.

3. Server-to-Server (Postback URL) Tracking:

This method sends conversion data directly from the broker’s server to your tracker or ad platform. It is not dependent on cookies or the user’s browser.

Hence, this ensures tracking remains intact even if cookies are deleted or devices change. It’s ideal for longer Forex funnels, where a trader might convert days or weeks after the initial click. (RichAds)

How to Set Up Track & Attribute Conversions with MT4 and MT5 Brokers

While most brokers have their own panels, dedicated IBs and affiliates often link these to external forex affiliate tracking software for better clarity.

Step 1: Choose the Right Stack for Tracking

Select a solution that supports server-to-server (postback URL) tracking for registrations, first-time deposits, and trading milestones:

• – Send custom parameters (sub IDs) for ad ID, keyword, country, or channel.
• – Integrate with Google Analytics, Facebook, TikTok, and other ad networks.
• – Evaluate the performance of each campaign, funnel, and region.

Step 2: Organize Smart Tracking Links

When creating links in your broker portal, ensure they include clear sub IDs for precise conversion tracking:

• – sub1=country (e.g., MY, ID, NG).
• – sub2 as the channel (e.g., yt_short, ig_reel, seo_blog).
• – sub3 as the funnel or keyword.

This structure allows you to quickly identify which combinations of GEO, channel, and funnel yield funded traders versus those seeking free offers.

Step 3: Set Up and Test Postbacks

Collaborate with your tech team or affiliate manager to:

• – Obtain the correct format for your tracker’s postback URL.
• – Connect broker tokens like {click_id} or {payout} to your tracker fields.
• – Postbacks for important events:

              a) Sign up or lead.

              b) First-time deposit (FTD).

              c) First trade or minimum trading volume.

Run three to five test conversions for each funnel to confirm:

• – Events appear correctly in the broker portal.
• – Correct values are sent to your tracker.
• – Consistently aligned conversions across all connected ad platforms.

Do not scale your campaigns until the conversion tracking data for your forex affiliate is consistent across all dashboards.

Important Forex Affiliate Conversion Tracking KPIs

Once your system is operational, focus on analyzing and improving the numbers. Your daily or weekly reports should include the following forex affiliate analytics KPIs:

• – Click-through rate (CTR).
• – Conversion rate of leads becoming customers (clicks to registrations).
• – FTD conversion rate (from registrations to first deposits).
• – Overall CPA forex affiliate conversion rate (FTDs divided by clicks).
• – Average deposit and trading amount for each trader.
• – Earnings per click (EPC).
• – Refunds, clawbacks, and denied conversions.

Review these metrics weekly, not merely monthly.

Example of a Simple CPA Forex Affiliate Conversion Rate

Consider a CPA deal where the broker pays $800 for each qualified FTD:

• – 2,000 clicks this month.
• – 30 FTDs this month.

A 1.5% CPA rate is competitive, given that the average affiliate campaign converts 1%–3% of the time, indicating that your forex affiliate conversion tracking is effective (Shopify).

Using Multi-Touch Attribution to Track Forex Affiliate Conversions

Trader journeys typically involve multiple clicks. A person might watch a TikTok video today, read a blog review tomorrow, and then deposit after a webinar the following week.

This is where multi-touch attribution becomes invaluable in forex affiliate marketing.

Common Models for Attribution in Forex Affiliate Conversions

If your broker compensates based on the last click, applying your own analytics to implement multi-touch attribution in forex affiliate marketing can help determine where to best allocate time and budget for content and ads.

Making Money from Forex Affiliate Conversion Tracking Data

Let’s compare two campaigns for the same MetaTrader broker:

Table of Example Performance:

From your dashboard on how to track & attribute conversions, it’s clear that SEO drives fewer clicks but generates higher-quality traders.

• – TikTok attracts considerable traffic, but many users fail to deposit.
• – SEO may need enhanced content and link-building efforts.
• – TikTok could benefit from improved targeting, more compelling hooks, or a different offer.

Multi-Touch Attribution Insights

You may discover that many SEO FTDs (first-time-deposits) first encountered you on TikTok weeks prior. Even if last-click reports don’t fully credit it, TikTok serves as an essential “assist” channel.

With this knowledge, you would maintain your TikTok efforts while focusing on assisted conversions rather than direct CPA alone.

Conclusion

Brokers can support strong CPA and hybrid offers. But they must complement partners who provide high-quality traders who know how to track & attribute conversions.

To be an effective IB, hybrid partner, or CPA affiliate, you should ensure:

• – Clean technical setup, including server-to-server (postback URL) tracking.
• – Clear reporting on vital forex affiliate analytics KPIs like CTR, FTD CR, and EPC.
• – Strategic use of multi-touch attribution in forex affiliate marketing to avoid disregarding channels that contribute to sales.
• – Continuous improvement of your CPA forex affiliate conversion rate through enhanced funnels and education.

VT Affiliates exemplifies how successful partnerships can lead to significant earnings, with top-tier partners earning up to $1,500 per qualified referral, provided they send consistent, high-value traders.

Join VT Affiliates, a broker that offers comprehensive MT4 and MT5 reporting, and a dedicated affiliate manager. Ensure that each click you track consistently transforms into a reliable, growing source of income.