It has been brought to our attention that REMOVED (Does OxMarkets have any policy about disclosure of this kind of information?) has made an official complaint against the Affiliate Program of OxMarkets.
Without any words of introduction please find below our official email which was sent to REMOVED regarding her partnership with us.
After a brief examination of the facts at our disposal we have determined that your so-called affiliation scheme is not a genuine one for the following reasons:
1) When we tried originally to introduce a volume restriction on paying the affiliation fees on your customers, you vehemently opposed such scheme, still claiming that your customers were bona fide customers and would be genuine traders.
2) When we tried to introduce a higher First Time Deposit on your customers, you vehemently opposed that saying that your customers would eventually deposit more than the minimum 250.
3) As soon as we paid you the first payment, all your customers that had any money immediately asked for a withdrawal!!!!
All these markers are evident when there is an affiliate scam in operation of the kind where the affiliate gathers a group of “clients” persuading them to deposit the minimum 250 and gathering the 450 affiliation commission.
As soon as the commission is received, the affiliate asks the ones who have any money left in the account to withdraw and deposit with another broker and recompenses the ones who have lost.
The mathematics go like this:
Income to the affiliate 5 * 450 = 2250
Maximum recompense for losers 5 * 250 = 1250
Actual recompense for losers 250 + 221.22 = 471.22
Minimum Profit for the affiliate 2250 – 1250 = 1000
Maximum profit for the affiliate 2250 – 471.22 = 1778.78
That is in case you had not done the mathematics!
The scheme continues with a different broker every time. In the industry, we call it the IB scam. It is common and a more recent and slightly less crude version of the old affiliate cashback scheme. This is what we believe happened in your case