How to make money in forex without actually trading in 2023

Forex is the skill of buying and selling foreign currencies in the exchange market. The purpose of forex trading is to make a profit. Let’s be honest for a second, not everyone has the time or is able to learn this complex skill and earn from it. Like any other skill, forex trading needs a lot of time and practice to master the skill. We will outline how to make money in forex without actually trading.

Who is this article for?

• People with zero knowledge or interest in forex trading, but still want to make money.
• Those with busy schedules with no time to learn about trading.
• Traders who want to make a passive income.

The Big Question: Can You Make Money in Forex Without Actually Trading?

Attaining profitability in the forex market is one of the most daunting tasks. Both for newbies and professional traders in forex trading. It can be overwhelming and it takes a lot of time to understand forex trading strategies and concepts. The financial market is full of uncertainty and ever-changing conditions. Besides, there is still hope in making profits from forex without investing your own money.

All struggling forex traders are always looking for ways to make money without trading the financial markets. This makes one wonder: Is forex trading profitable? Yes. Trading forex requires a combination of skills. Some include technical analysis, fundamental analysis, discipline, and patience. This is required to make consistent profits in the markets. If you are not equipped with such skills, avoid blowing up your Forex trading account. Use some of the ways listed below on how to make money from forex without actually trading.

Using these options helps in reducing risks, and saves time and resources. These would be wasted if you engage in forex trading without the skills you need. 

We will now explain the ways you can earn a passive income from Forex without trading:

• Forex Brokers Affiliate Programs
• Funded Trader Programs Affiliate
• Forex Copy Trading
• Forex PAMM Accounts

FOREX BROKERS AFFILIATE PROGRAMS

Forex brokers affiliate programs are where one makes money by referring traders to trading platforms. You choose a forex broker you want to promote and earn a commission from the clients you attract. Nowadays, forex affiliate programs are becoming more popular. Forex brokers are flooding the market. At the same time, more people are becoming aware of the existence of the financial markets.

This option is best for website owners, social media influencers, bloggers, and those with massive social connections.

This model requires very little time once you set it up. You get to earn bonuses and commissions from qualified and active referrals. Always read the terms and conditions of the forex broker offering the program to understand the kind of deal you are entering into. The general procedure is as follows:

• Select a forex broker.
• Sign Up to receive an affiliate link.
• Promote the link on various platforms such as blogs, social media, or email.
• A potential trader clicks through to the Forex broker site.
• The trader signs up and funds their account and trades.
• You get a commission or bonus based on the trader’s activity.

Depending on the Forex Broker you choose, you will find various types of revenue share models offered. Generally, they will include the list below:

CPA (Cost-per-action): A one-time commission paid when the trader completes a specific action. This leads to the forex broker considering them a qualified lead.

Affiliate Program: A commission based on a qualified lead. Such as a trader who funds their account and completes a certain number of lots traded.

Introducing Broker: In this Model, you earn a higher level of income since your earnings are based on the trader’s activity. The more they trade, the more you earn. The income is usually based on the Revenue Share of the forex broker’s earnings via Spread or Commissions charged to the traders you refer.

Best Forex Affiliate Programs

Keep in mind that every broker will offer their own compensation model and packages. Some will be better than others. Your job is to go through the different models and choose what works best for you.

As a guide, browse below our selection of the best forex affiliate programs with the best rates:

FUNDED TRADER PROGRAMS AFFILIATE

This is where one makes money by referring traders to funded trader programs. You choose a forex prop firm you want to promote and earn a commission from the clients you attract. 

This option is best for website owners, social media influencers, bloggers, and those with massive social connections.

Always read the terms and conditions of the forex prop firm offering the program to understand the kind of deal you are entering into. The general procedure is as follows:

• Select a forex prop firm.
• Sign Up to receive an affiliate link.
• Promote the link on various platforms such as blogs, social media, or email.
• A potential trader clicks through to the Forex prop firm site.
• The trader signs up and purchases a forex funding challenge.
• You get a commission or bonus based on the qualified purchase.

Depending on the Forex prop firm you choose, you will find various types of revenue share models offered. Generally, they will include the list below:

CPA (Cost-per-action): A one-time commission paid when the trader completes a specific action. This leads to the Forex prop firm considering them a qualified lead.

Affiliate Program: A commission based on a qualified lead. Such as a trader who purchases a forex-funded account.

Best Funded Trader Programs Affiliate Programs

Keep in mind that every forex prop firm will offer its own compensation model and packages. Some will be better than others. Your job is to go through the different models and choose what works best for you.

As a guide, browse below our selection of the best-funded trader programs and affiliate programs with the best rates:

FOREX COPY TRADING

Forex copy trading is another good way of earning from forex if you have little to no experience in trading. Although, you will still need to have some familiarity with forex trading platforms in order to engage with this type of investment.

The benefit of using copy trading is that you reduce your risk exposure by choosing the right investor. But, after a thorough analysis of their trading performance and risk management model. You are using the skill of a professional trader to make profits, at a small fee or commission, of course. There is no limit to how much you can earn via this method if you do it right. Moreover, everything is automated, so you don’t need to think so much about it.

Disclaimer: Past performance is no guarantee of future results.

The procedure to copy investors’ trades varies depending on the provider. But the general procedure involved in copy trading is as shown below:

• Open a Real Forex Trading Account.
• Select the right Investor to subscribe to based on their trading history and performance.
• Set your risk margins.
• Enable Automated Copy trading.

In order to be successful in forex copy trading:

• Accept the risks involved in trading.
• Select the right investor.
• Diversify your risk portfolio by splitting your capital among different investors.

Best Forex Copy Trading Providers

Below you will find our selection of the best forex copy trading platforms:

FOREX PAMM ACCOUNTS

Forex PAMM accounts means Percent Allocation Management Module. This is also a very good alternative to earning money without trading. This model involves pooling funds together as investors and allocating those funds to a specific Fund Manager. This is also a Professional Trader via a forex broker. The broker offers the investors and the fund manager the platform to manage their funds and agreements. The Fund Manager is paid via an agreed-upon commission from profits made. 

Our recommended PAMM Brokers are listed below:

CONCLUSION

In conclusion, there are many ideas on how to make money in forex without actually trading. But, I would recommend you choose whatever resonates with you to see success. 

Take the step today! If you get the time and you have interest, forex trading can be a good way of earning a consistent income once you put the work into it. I know many successful forex traders who make a living doing forex as a full-time career.

Your Turn, Good Luck!