XM Affiliate Program vs. Competitors: Which Forex Partnership Pays Best in 2025?

Affiliate marketing in the finance and forex industry remains one of the most profitable niches in 2025. Forex brokers compete aggressively to attract affiliates by offering lucrative CPA, CPL, and revenue share programs, along with advanced tracking tools and reliable payouts.

Among all options, XM Partners stands out as the Editor’s Choice, thanks to its high payouts, daily commissions, and powerful affiliate tools. But how does XM compare to other big players like IC Markets, FP Markets, Exness, AvaTrade, FXTM, Pepperstone, Octa, Tickmill, HotForex, and FBS?

Let’s take a detailed look at each.

1. XM Partners – Editor’s Choice

XM is one of the largest and most trusted multi-regulated brokers, serving over 15 million clients across 190+ countries. The broker has been in the industry for more than 15 years and has built a strong reputation for fast execution, stable leverage (up to 1000:1), transparent trading conditions, and award-winning services.

The XM Affiliate Program is designed with flexibility in mind. Affiliates can choose from multiple payout models:

• CPA (Cost Per Acquisition) up to $1,000 per client, among the highest in the industry.
  
• Revenue Share, with lifetime earnings up to $80 per lot traded on forex, metals, and crypto CFDs.
  
• CPL (Cost Per Lead) and Hybrid Plans tailored for different traffic sources.
  
• Sub-Affiliate Commissions, with 10% override earnings for master IBs.
  

XM also offers daily payouts (minimum threshold $5), while most competitors only pay weekly or monthly. Affiliates benefit from a powerful Partner Platform featuring real-time tracking, API integration, AppsFlyer for mobile campaigns, auto-rebate systems, and 25+ languages of marketing materials.

The program has won multiple awards including Best IB/Affiliate Program LATAM 2025 and Best Partnership Program in MENA 2024. Combined with XM’s trusted global reputation, this makes XM the #1 affiliate program in forex for 2025.

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2. IC Markets

IC Markets is a well-known ECN broker, famous for tight spreads, transparency, and high daily trading volumes. It is especially popular among professional traders and scalpers, which gives affiliates an advantage in promoting a broker trusted by experienced traders.

The IC Markets affiliate program offers two main models:

• CPA, paying up to $650 per referred client.
  
• Revenue Share, where affiliates earn a percentage of spreads or commissions generated by their clients.
  

IC Markets also provides robust tracking tools and reliable payouts, typically processed on a monthly basis or on request.

While IC Markets has strong brand credibility and is easy to promote in trading communities, it does fall short compared to XM in terms of maximum CPA payouts and payout frequency, since affiliates often prefer daily or weekly payments. Still, IC Markets remains a strong choice for affiliates targeting advanced traders.

3. FP Markets

FP Markets is a long-established forex and CFD broker with a reputation for low spreads, ECN execution, and strong regulation. Its affiliate program, however, is more limited compared to top-tier brokers like XM.

The program offers a CPA-only model, with commissions of up to $450 per referred client. This simplicity makes FP Markets easy for new affiliates to understand, but it lacks the flexibility of offering revenue share or hybrid deals.

Payouts are generally processed monthly or on request, which can be less attractive for affiliates scaling fast campaigns.

FP Markets is best suited for affiliates who want a straightforward CPA program and who are promoting to regions where FP Markets has strong penetration. However, it lags behind XM in payout size, flexibility, and advanced affiliate tools.

4. Exness

Exness is one of the largest brokers by trading volume globally, processing trillions in monthly trading activity. This gives affiliates confidence that they’re working with a trusted, liquid, and high-demand broker.

The Exness affiliate program offers:

• CPA commissions that can reach up to $1,000 per client, depending on the region and traffic quality.
  
• Revenue Share plans for affiliates who prefer lifetime earnings from client trading activity.
  

Exness typically processes payouts on a weekly basis, which is competitive but still less frequent than XM’s daily payouts.

The strengths of Exness are its huge brand presence, competitive payouts, and global trader base. The downside is that CPA rates vary heavily by geography, and affiliates must carefully align traffic sources with Exness’s accepted markets.

5. AvaTrade

AvaTrade is a heavily regulated broker with offices across multiple continents, making it a solid choice for affiliates who value credibility and compliance.

The AvaTrade affiliate program offers:

• CPA payouts up to $800 per client, depending on region.
  
• Revenue Share and Hybrid Models, giving affiliates flexibility in structuring deals.
  

Payouts are usually monthly, and affiliates have access to multilingual marketing materials, tracking dashboards, and promotional campaigns.

AvaTrade’s main advantages are its long-standing reputation and regulatory strength, which help affiliates build trust with leads. However, compared to XM, its CPA payouts are lower and the payout cycles slower.

6. FXTM (ForexTime)

FXTM is a popular global broker, well-regarded for its education resources and diverse account types.

Its affiliate program offers:

• CPA commissions up to $600 per client, depending on traffic quality and region.
  
• Revenue Share models for recurring income.
  

FXTM supports affiliates with multi-language materials and a strong marketing team. Payouts are processed monthly, which may be slower than what some affiliates prefer.

The program works well for affiliates promoting to beginner traders, thanks to FXTM’s strong emphasis on training and educational support. However, its payouts are lower than XM’s and it lacks daily payment options.

7.  Pepperstone

Pepperstone is an award-winning broker, particularly well-known in Europe and Australia, offering ECN-style execution and low-cost trading.

The affiliate program includes:

• CPA commissions up to $500 per client.
  
• Revenue Share models based on client trading activity.
  

Affiliates can rely on Pepperstone’s solid reputation and transparency, but payouts are generally monthly.

While Pepperstone is easy to promote in regulated markets, its CPA ceiling is lower than XM’s and it does not offer hybrid or CPL options, which makes it less flexible for diverse affiliate campaigns.

8. Octa

Octa (formerly OctaFX) is popular in Asia, Africa, and emerging markets, thanks to its promotional campaigns and regionalised offers.

The affiliate program provides:

• CPA up to $500 per client.
  
• Revenue Share options for long-term income.
  
• Bi-weekly or monthly payouts, depending on agreements.
  

Octa affiliates can leverage the broker’s regional promotions to increase conversions. However, its lower payouts and limited appeal in Western markets make it less competitive on a global scale compared to XM.

9. Tickmill

Tickmill is a respected broker, known for its professional-grade trading conditions and tight spreads.

The Tickmill affiliate program includes:

• CPA commissions up to $600 per client.
  
• Revenue Share models for long-term income.

Payouts are monthly, and affiliates benefit from Tickmill’s transparent reporting and regulated brand reputation.

Tickmill works best for affiliates targeting professional traders, but it falls behind XM in terms of maximum CPA, hybrid models, and payment frequency.

10. HotForex (HFM)

HotForex, now rebranded as HFM, is a global broker with a strong reputation across multiple regions.

Its affiliate program offers:

• CPA payouts up to $600 per client.
  
• Revenue Share options.
  
• Monthly payouts.
  

HFM is attractive due to its long-standing credibility and global footprint, but compared to XM, it lacks flexibility, daily payouts, and hybrid commission structures.

11. FBS

FBS is a broker that has gained popularity in Asia and Africa, thanks to aggressive promotional campaigns and bonuses.

The affiliate program includes:

• CPA commissions up to $500 per client.
  
• Revenue Share models.
  
• Bi-weekly payouts.
  

Affiliates promoting in emerging markets may find FBS effective due to its marketing promotions. However, its payouts are significantly lower than XM’s, and it does not have the same global reputation or advanced affiliate tools.

Final Comparison Table

Conclusion

When comparing affiliate programs in 2025, XM Partners is the clear winner. With the highest CPA payouts (up to $1,000), daily commission payments, sub-affiliate earnings, and a multi-award-winning reputation, XM gives affiliates a complete package for building sustainable revenue.

While brokers like Exness and AvaTrade offer competitive payouts, and IC Markets remains strong among professional traders, none combine high payouts, daily flexibility, global reach, and advanced affiliate tools as effectively as XM.

👉 For affiliates serious about the finance niche, XM should be your top choice in 2025.