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Thread: Warning: eToro Partners is going nuts

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    Default Warning: eToro Partners is going nuts

    I usually really don't care that much when a program is fucked up but eToro is to Forex what PokerStars is to Poker and I'm sure anyone in the Forex niche will care.
    I don't promote them through their program but I know some affiliates that do so I'm a subaffiliate there.
    Last week they sent an email that the lifetime value of my subaffiliates traders is too low and they can't cover my REVENUE SHARE commission. They did not even bother to negotiate, it was just a notice that my revenue share is cut down (don't even mention how much). All my subs are sending high quality search engine traffic, not targetting any low value traders in any way btw. Ok, so far so "good".

    Now a few of my subs where complaining about their new "branding guidelines". They sent an email to all partners (me included) that they have to make changes when mentioning their brand. And these changes are incredible. For example you are not allowed to mention "Forex" but only "social investment network" (even though you can trade Forex there of course), you have to add risk disclaimers (the only thing I understand) and they don't want to appear anywhere near other brokers (ridicolous as well). They also don't want you to use their brand in your URLs (not domain!) so something like www.forexbrokersthatsuck.com/etoro is not allowed. And the list goes on and on. If you have a fairly large site it'll take a few days to implement all changes.

    And the best part of course is: they send emails to those affiliates who did not change everything properly after one week and threaten to terminate their account. I'm sure some affiliates will just give a shit and lose ongoing commission then.

    I think it's good when brands stay aware of protecting their brand, I also don't want my brand to appear next to porn or something but that's just ridicolous and obviously extremly shady to say the least. To me it just looks as if they try to cut down costs and screw over affiliates. That's the easiest way for operators I think.

    If you think about promoting them think twice. With their new "guidelines" it's almost impossible to make decent money btw. They just disallow affiliates to represent them anywhere.

    Update regarding subaffiliate commission. See this post.
    Last edited by Mr-AJ; 05-06-2013 at 03:38 AM.
    suffolkpoker likes this.

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    Having read over your post several times, I get the underlying impression that things are not going so well with you at the present time and it’s just now that your letting off steam. Every brand has a right to protect its brand and saying that every affiliate has to protect the monthly commission earnings. I have been with eToro since the outset in 2006 and it’s always been an open and transparent company and always willing to help each and every affiliate which has the need to that little extra assistance.

    Let’s wait for the official response to your post before slinging anymore mud around and it stills on the wrong walls.

    I personally back all the efforts that eToro are doing to protect its brand name and because of this it gives me more incentive to back a brand I trust and always will trust!
    MINDS ARE LIKE PARACHUTES..USELESS..UNLESS OPEN!!!!!!
    eToro.com
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    Sorry, but I had to lol
    1) My subaffiliate commission are a few hundred bucks each month and I could care less as I've already made decent money for "just" refering a few affiliates. So it's all well on my end.
    2) We are not talking about protecting a brand and if you read my post you see that I give every operator the right to do so. However, there's a huge difference between good business practice and brand protection and what eToro does.
    3) The first time affiliates got notice of all these changes to be made was like 2 weeks ago. Keeping their whole April commission until every little detail of their huge list has been modified is not a good way to treat affiliates that have build your brand over years and made you a lot of money.
    4) The argument that they can't cover costs with revenue share commission and thus cutting my sub affiliate provision just doesn't make sense. It's not the sub affiliates responsibility that operators can cover costs. "Low trader value" is just a very easy excuse I already heard of them. First I was promoting them through a tiny $100 CPA and after my first 2 traders they told me their trading value is too low after 4 days. That's just ridicolous and I just stopped promoting them myself. Btw, one of these traders is still active and brought in 4 digits in revenue over the years. Needless to say I earned at least revenue share on them.

    My conclusion: Brand protection is very important for us affiliates as well and we should all treat the brands we promote well. But forcing affiliates to make every little change (even some that really make no difference at all) within a very short period of time and holding back commissions until it's done is just not a partnership you're looking for as affiliate. And if you had a nice network of sites and lots of revenue share commission each month you would surely understand how painful this is. Losing the value of a $5k/month affiliate account just because you use the term "forex" somewhere related to eToro (which is true as you can trade Forex at eToro and if they don't want to be related to Forex they should not offer it at all) or use the term "Copytrader" without "eToro" beforehand is just ridicolous.

    And btw, I really don't care what they say in public as I'm very sure what excusions they will have. I think I know better as long term affiliate and I just want to warn other affiliates and save them headache and maybe a lot of money/time.

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    Mr AJ, do you mind forwarding me the email they sent you? This all sounds quiet ridiculous and I'd like to take a look.

    I received an email from Etoro a few weeks ago telling me they were closing my affiliate account because I hadn't sent them any RMPs in 6 months, but I didn't really mind that to be honest.
    My affiliate blog: Affiliate FYI Twitter: @AffiliateFYI

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    Will contact you through Skype tomorrow Adam.
    ironman2000 likes this.

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    Tatyana from eToropartners contacted me through PM wanting to look into it. I've sent all the details and they said they made a mistake with their calculations that showed negative profits with my subaffiliate account. I don't know how this was possible and it should not happen in the first place but it's solved now and I'm getting back to my original subaffiliate commission. I have to admit that this was handled very professionally and very quickly. Thanks a lot.

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    Dear Mr-AJ,

    Having read your post, I'd like to give you our perspective on the matter.

    First of all, I must apologize for cutting your sub-affiliate commissions; it was done by mistake due to an error in our reports. As your last post indicates, I have already contacted you in private to inform you that your sub-affiliate settings have been restored to their previous status. We've also adjusted our reports to reflect sub-affiliate activity better, so that this doesn't happen again in the future. We are very sorry for the inconvenience.

    As for our branding guidelines, I must explain the reasons for such a drastic shift.

    Over the past year we have switched our brand strategy from its previous focus on forex trading to focusing on the social trading aspect of our product exclusively. We feel that this differentiates us from the over-saturated forex landscape and reflects our values of openness, transparency and community - which are all things not usually associated with forex.

    If you're an eToro user, you are probably aware that our company really does comport itself very differently from any forex trading company, and that our social investment network is really at the core of our product.

    As a partner, you too should benefit from the added value that the social nature of eToro brings to the table, as opposed to marketing our product as just another forex platform among many. In terms of social trading we are the largest social investment network in the world, and as such we are unique.

    Of course, we still offer forex trading via our platform, but this too is done in the context of our social investment network.

    You must also understand that many of these changes are due to regulatory constrictions. As a company that offers financial trading services we are responsible for any marketing materials associated with us and have to answer for them legally. A partner that doesn't abide by these regulations puts us at risk of being sued and we therefore have to take drastic measures to motivate them to implement our brand guidelines.

    You can read more about the reasons behind out new brand guidelines here on the eToro Blog (I can't post a link here unfortunately).

    Kind regards,
    Tatyana, eToro Team
    ironman2000 likes this.

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    Well resolved etoro, good to see quick action and solution provided

    Tim
    Muchos Poker: your central cashier for 9 poker networks!

    www.muchospoker.com
    www.muchospartners.com

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    Thanks again for the quick solution and your extensive reply regarding the branding guidelines.
    I totally get your point and as I already mentioned it's your right to build your brand how you want it to and I'm sure affiliates will benefit from it long term. I also appreciate your step back from Forex as I have to admit that this term suffered a lot lately.
    However, I'd like to see more clarity in all these steps that are necessary. If I had to change lots of sites I'd like to know what is really necessary that you don't get in trouble with regulators as this is vital of course. These should be small changes every affiliate should be able to handle quickly.

    But when we talk about your branding direction you have choosen it's a whole different story. It's like your management decided to change the direction, which is a long term decision but has to be executed asap within a few days. Otherwise we'll make affiliates angry and put pressure on them. Imagine Moneybookers rebrands to Skrill and suddenly wants all sites/affiliates/operators to change everything related to Moneybookers to Skrill otherwise all funds are seized if you don't do so. Long term decisions mean long term execution and you won't do yourself a favor if you treat your affiliates like your employees and force them to do whatever you want them to do and do it quickly.

    I don't know what really is the case with my fellow affiliates and why their accounts are currently locked. Afaik they don't even know exactly what's wrong with their sites after making seemingly necessary changes so it's hard to tell.

    Again, I appreciate your input and respect you as one of the leading brands in this industry but imo you really should know better and I don't think this is how to work with your partners (!) .
    Shay likes this.

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    At eToro Partners we always appreciate feedback from our affiliates and do our best to improve our affiliate program. Your point is valid and we will certainly take it into consideration moving forward. We would like to encourage all our affiliates to contact us via partners email (it doesn't let me post our email here, but you can find it on our website) or your affiliate account manager directly if there are any unsolved issues or any questions. We will be always happy to look into each situation and come up with the best solution for it.

    Kind regards,
    Tatyana, eToro Partners


 

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