Two affiliate offers can show very different amounts and earn about the same, or the opposite. What matters is not the figure at the top of the page, but the conditions that come with it: who counts as a qualified client, in which countries, with which deposit and trading volume, and when the commission is paid.
This article describes the three payout models found in broker programs, based on definitions published by the brokers themselves, and gives a method to compare two offers. It does not rank any broker.
CPA: a fixed amount per qualified client
CPA (cost per acquisition) pays a fixed amount for each client who meets the program’s conditions. The Admirals partner page, checked in October 2026, describes it as a fixed payment for each referred client who verifies their identity and makes a qualifying deposit. On the same page, the CPA requires a minimum first deposit and a minimum volume in lots, and its amount varies by the client’s country group.
What makes a CPA vary
- The client’s country: many programs pay different amounts by country, and some countries are not accepted at all.
- The first deposit amount: CPA is often split into tiers, each first deposit range giving a different amount.
- Trading volume: a minimum number of lots may be required before the client counts as qualified.
- Identity verification: a client who does not complete KYC does not count.
- Quality clauses: programs usually reserve the right to reject traffic judged fraudulent or non-compliant.
The advantage of CPA is clarity: you know what a qualified client earns you, and you are paid without waiting months of activity. Its limit lies in the conditions: a client who deposits slightly less than the threshold, or trades slightly less than the required volume, may earn nothing at all.
Revenue share: a share of what the client generates
Revenue share pays the affiliate a share of the revenue the broker earns from the client. The Admirals page defines it as a share of the spread or commission generated by each referred client. Some programs express this share as a percentage, others as a fixed amount per lot traded.
Income follows the client’s activity: it continues while the client trades and stops when they stop. An active client can earn more than a CPA over time; a client who deposits and then barely trades earns almost nothing.
Revenue share by region
Not every model is offered everywhere. The Admirals page says its revenue share plan does not apply to the Europe and UK regions, while its CPA targets audiences in those very regions. Before building a strategy on one model, check that it is open in your clients’ countries.
Hybrid: a bit of both
A hybrid deal combines a CPA, often lower than a CPA alone, with a revenue share. The affiliate receives an amount at the first qualified deposit, then a share of the activity. Admirals presents this option as mix models: using several commission models at once, by region, audience and traffic source. These deals are usually negotiated with the broker’s partner team.
Hybrid spreads the risk: part of the income arrives quickly, the rest depends on the client’s lifetime. In return, it requires you to follow two things at once, the CPA unlock and the volume traded.
How to compare two offers
Advertised amounts can only be compared once the conditions are laid out. The questions to ask each program:
- What is a qualified client: identity verification, minimum first deposit, number of lots, time allowed to reach them?
- Which countries are accepted, and does the amount change by country?
- Is the CPA split into tiers by first deposit? Where are the thresholds?
- Is the revenue share a percentage of spread or commission, or per lot? Is it open in your regions?
- How often is the commission paid? At Admirals, payments are usually monthly.
- Which reports do you get: registrations, deposits, lots, client ID? Is there an API to retrieve them?
- What happens if a client withdraws their deposit, or if the broker judges traffic non-compliant?
With these answers in hand, the calculation is simple. For a CPA: the number of clients who will actually meet the conditions, times the amount of the matching tier. For revenue share: the volume your clients actually trade, times the amount per lot or the percentage. Your own conversion figures decide, not those on the program’s home page.
The rules that shape the offers
Programs are not built in a vacuum. In the European Union, the CFD measures announced by ESMA in March 2018 limited leverage for retail clients, restricted the incentives offered to clients to trade CFDs and required a standard warning stating the share of retail accounts that lose money. In the United Kingdom, the FCA’s FG24/1 guidance (March 2024) points out that an unauthorised affiliate who promotes a regulated product without the approval of an authorised firm may commit a criminal offence.
On the advertising side, Meta’s policy (checked in October 2026) bans ads for contract for difference trading and binary options, and Google requires financial services advertisers to be verified in many countries. These rules partly explain why models and amounts change from one region to another.
Tracking commissions broker by broker
Whatever the model, the difficulty is the same: knowing, for each client, whether they met their broker’s conditions. The broker’s report gives deposits and lots; the deal gives the tiers and thresholds; the conversation with the lead tells who converted them. These three sources rarely live in the same place.
In ScaleGram CRM, each broker has its deal: CPA tiers by first deposit range, revenue share per lot, a minimum number of lots and the unlock delay announced by the broker. The first deposit used is the first confirmed deposit in time, not the smallest. The commission turns unlocked when that first deposit falls in a CPA tier and the client has traded at least the required lots; the revenue share, calculated per lot, is shown for information. With a broker on CellXpert, registrations, lots and net deposits come in automatically and are matched to leads by their UID.
In short
CPA pays quickly and predictably, provided your clients reach the thresholds. Revenue share pays over time, provided they trade. Hybrid shares the two. The right choice depends on your clients’ countries, their average deposit and their real activity: measure them before signing, then track every commission broker by broker.