Under the Upway Global Affiliate Program, the Referral Program offers up to 18% commission on the actual spreads generated by referred clients. The Advertising Alliance, on the other hand, pays a fixed $28 reward when a referred user successfully registers and activates an account. At first glance, the 18% commission and the $28 reward may seem difficult to compare, as they follow completely different calculation methods. The 18% is not a fixed payment; it is calculated based on the spreads generated by referred clients' actual trading activity.

The Upway Global Referral Program has four trading commission tiers: Lv1, Lv2, Lv3 and Lv4, with commission rates of 8%, 10%, 12% and 18%, respectively. Affiliates start at Lv1 upon registration and can progress to higher tiers by meeting the relevant requirements for the number of direct referrals and trading volume. In addition, Referral Program affiliates are automatically enrolled in the team commission scheme, earning 30% and 15% of the trading rewards received by their first-level and second-level team members, respectively.

For example, suppose Alex joins the Upway Global Affiliate Program and refers a friend, Ben. Once Ben successfully deposits funds and activates his account, Alex receives a $2 activation bonus.

Ben then starts trading Spot Gold. Assuming he completes a total of 10 lots, with an actual Spread of $15 per lot, and Alex is currently at Lv1 with an 8% commission rate, Alex's trading commission would be:

10 lots × $15 × 8% = $12 in trading commission.

Meanwhile, Ben can also become an affiliate and refer his own friends. Suppose Ben refers Chris, who then refers David. Based on this referral structure, Ben is Alex's direct referral, Chris is Alex's first-level team member, and David is Alex's second-level team member.

If Chris earns $100 in trading rewards from the trading activity of his referred clients, Alex receives an additional $30 in first-level team commission. If David earns $100 in trading rewards, Alex receives another $15 in second-level team commission. Commission earned from Ben's trading is calculated as a direct referral commission, not as team commission.

The Advertising Alliance has a more straightforward reward structure. Affiliates receive $28 when a new user successfully registers and activates an account through their referral. By comparison, the $2 activation bonus under the Referral Program is only the starting point, with additional rewards depending on the actual trading activity of referred clients.

If an affiliate wants to earn a total of $28 through the Referral Program, they would need to generate another $26 in trading commission. Based on the highest Lv4 commission rate of 18%, and excluding team commissions and points redemption, the required trading volume can be estimated using the following formula:

Required trading volume (lots) ≥ $26 ÷ (Actual Spread per lot × 18%)

This means that the lower the actual Spread per lot, the more lots the referred client needs to trade to generate the same amount of commission. Conversely, a higher Spread per lot means fewer lots are required to reach the same commission amount.

It is important to emphasise that this is purely a mathematical comparison between the two reward structures. It should not be taken as an incentive for referred clients to increase their trading volume simply to generate more affiliate commission. Trading decisions should always be based on individual judgement and risk tolerance.

Both programs have their own advantages. The Advertising Alliance focuses on registration and account activation rewards, making its reward structure relatively straightforward. The Referral Program, meanwhile, combines activation bonuses, trading commissions, team commissions and points redemption, offering multiple potential sources of rewards. However, the actual amount earned depends on referred clients' trading activity and the affiliate's commission tier.

Choosing between the two programs largely depends on the resources available to you. If you know people who actively trade Spot Gold and Spot Silver and have consistent trading habits, the Referral Program may offer opportunities to earn ongoing commissions, accumulate points and receive team rewards. If your main strengths lie in generating traffic, creating content or securing one-off promotional exposure, the Advertising Alliance's fixed $28 reward may be a more straightforward option.

Affiliate rewards are not guaranteed or stable income, and trading precious metals involves inherent risks. Before participating in either program or engaging in related trading activities, make sure you understand the applicable reward rules and trading risks, and make decisions based on your individual circumstances.