- Trading apps like Robinhood and Acorns are leveraging social-media influencers to drive sign-ups.
- Influencers are making money by promoting these fintech apps through affiliate links.
- Industry insiders shared the affiliate marketing rates some trading apps have offered recently.
- See more stories on Insider’s business page.
Affiliate marketing has increasingly become a top revenue source for finance-focused influencers.
These influencers earn money by driving sign-ups for popular trading apps like Robinhood and Acorns by promoting them through affiliate links.
Finance affiliate marketing differs from some other verticals like tech, fashion, beauty, and lifestyle. Those programs generally offer a percentage-based commission that is typically between 1% and 20%, according to industry professionals. Finance affiliate programs, in contrast, usually offer a fixed rate per sign-up, and these creators are paid by either receiving a free stock or a cash payment.
Instead of earning a commission per sale, stock brokerages pay influencers once someone signs up for an account with the company through the influencer’s custom trackable affiliate link and deposits money (typically around $100) into their new account.
Many finance affiliate programs are run directly through the company, and some creators told Insider that they got started by reaching out to companies over email.
Influencers can also get started by signing up for an affiliate marketing network, like Impact or CJ Affiliate. These networks are connected with big brands and companies, offering rates, varying tools, and tracking information to help a creator get started.
But how much do these programs pay?
Industry insiders broke down the base commission rates some trading platforms have offered recently (these rates were all confirmed by multiple sources):
- Webull: base rate is $30 per funded account
- M1 Finance: base rate is $100 per funded account of $1,000
- Questrade: base rate is $70
- Public: base rate is $20 per funded account
- Robinhood: base rate is $50
- Acorns: base rate is $5
“Acorns is $5 and that’s silly, $5 per account,” said one influencer, who asked to remain anonymous to protect business relationships. “They are not in favor with the influencers because they are not giving a reasonable amount of commission.”
M1 Finance confirmed its rates with Insider. Public, Acorns, and Questrade declined to comment. Webull and Robinhood did not respond to requests for comment.
Some of these rates can also be negotiable. Two creators told Insider that some programs are willing to negotiate a commission rate above $100, and three creators said they earned between $60 and $65 per sign-up through Webull after negotiating.
For more on finance affiliate marketing and tips for getting started, check out the full story below:
How much money influencers make driving sign-ups for trading apps
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