A recent announcement from FX Partners Network, or FXPN, has confirmed that they will be ceasing all operations. The FXPN notified their affiliates about the termination of this network. FXPN is a retail Forex and IB affiliate network, which was developed by Leverate in 2012. The idea was to interface some Forex broker’s brands with affiliate marketers to help promote the business.
One of the reasons this network is shutting down is that it was based on a marketing solution provided by DirectTrack Affiliate Software Technologies. The customized platform is no longer going to be available as of March 2014, which apparently left FXPN without a viable alternative, or at least one that they felt was feasible with their business.
This may have something to do with the fact that DirectTrack’s business was acquired by CAKE. Cake is a software-as-a-service platform, and is now offering a turnkey solution for DirectTrack’s clients who did want to replace the existing service.
The affiliates who were a part of the FXPN can now choose to work directly for the brokers that they choose. Many of these brokers who were part of the FXPN will continue to work with the affiliates, but now in a more direct way. What type of impact this will have on affiliates, or the broker brands themselves, has yet to be seen.
The brands that made up this network included ForexBrokerInc, CaesarTrade, GCMForex, GCM Asia, Fxlider, NetoTrade, AstonForex, ForexTradition and Whichway.
You can read more about this closing, and the companies involved with it, HERE.
What do you think about this announcement? Did you have any dealings with the FXPN? Pleas share your comments below.