FX partner programmes: what CT should steal
Research by an Opus subagent, 10 Oct 2026. The agent's sourcing caveats are at the end; several incumbent pages were read from Wayback copies because the live sites block fetching.
1. Programme map
| Programme | Targets | Comp | Enablement | Notable hook |
|---|---|---|---|---|
| Currencies Direct (Redpin group, with TorFX) | Agents, lawyers, accountants | Bespoke % of "profit"/turnover, only while "active" (referred within 365 days); sub-introducer override (EU T&Cs) | Portal (statements, invoices, banners, templates), partnership manager (ES); 25+ APIs | PropertyPay (now Redpin Payments): no banker's drafts; 20+ Spanish branches |
| Lumon | Agent networks (IAD), Kyero | €50 per account opened + 0.276% of volume, client lifetime (IAD, Jul 2024) | Training, email template, objection scripts, event alerts | Paid onto a prepaid card in the agent's name |
| Smart Currency Exchange | Mortgage advisers, agents, lawyers | 25% of revenue, lifetime; ~£625/referral (Dec 2025) | Account manager, co-branded materials, no minimums | Auto-flagged inside Twenty7tec mortgage software |
| moneycorp | Professional firms, associations | Undisclosed ("generous remuneration") | RM + dealer, monthly referral reports | Free FX audit for partners' clients |
| OFX | Accountants, platforms | % of gross revenue, 24 months only; A$500 floor (T&Cs) | Alliance manager, embeddable rate tools | Xero integration |
| TorFX (AU) | Migration agents, agents, lawyers | 20% profit share + AU$70/referral towards CPD (2019) | Portal, named manager; refer/rebrand/API | CPD subsidy via association deal |
| Corpay Cross-Border | Consultants, professional firms, fintechs | Undisclosed (third-party listing: 5% while active) | Named partner manager, joint GTM, APIs | Referral → API → white-label ladder |
| Airwallex | Accountants, CSPs, SaaS | $200 after net-revenue floor + optional revenue %; third parties cite 15-20% for 12 months | PartnerStack, deal registration, development funds, demo accounts | Sleek deal: priority review + 0% margin on first HK$20k |
| Wise | Affiliates; banks (Platform) | From £10/£50 flat per customer; 1-year cookie; first introducer only | Partnerize, quarterly newsletters | Platform: banks embed Wise (UniCredit, Capitec in FY26) |
| Introducing broker (generic) | Trader/payment introducers | $3-12/lot or spread share; master-IB overrides | IB portals | No FCA authorisation needed, but no statutory protection: post-termination pay only if contracted (Fox Williams) |
2. Five most stealable tactics (ranked)
- Publish a lifetime rate partners can check. Agents can verify Lumon's 0.276%. Currencies Direct sets "profit" "in its absolute discretion and without being required to produce evidence". CT: a public rate card (bps of volume, lifetime, no payout floor), commission shown per trade.
- Sign networks, not agents. Lumon funds partnership managers by region, and 30 staff can't match that. Cheaper: IAD recommends Lumon to its whole network; Kyero (10,000+ agents) made Lumon its first affiliate partner (Kyero); TorFX used Migration Alliance; Smart used Twenty7tec. CT: in each vertical, one franchise network, one portal or MLS, one software integration.
- Pay the individual at account opening. Lumon pays €50 per opened account, before any trade, onto the agent's own card. CT: €50/£50 per approved account to the named negotiator (agency-approved), plus the agency's revenue share.
- Script the referral. Lumon publishes the intro email and rebuttals ("I want to use the bank"). Redpin adds co-branded landing pages and website calculators. CT: a landing page per partner, a prefilled intro email and three scripts at onboarding.
- Report events, not totals. Lumon tells agents when referrals register, trade or stall. OFX promises only "general statistics"; Airwallex withholds referred clients' transaction data. CT: alerts per referral, with client consent: KYC passed, rate booked, funds sent.
3. What partners complain about (advertise the opposite)
- Maths you can't check, terms that move. Currencies Direct statements are binding "other than in the case of manifest error". OFX can amend terms by email; Airwallex amendments take effect "upon posting".
- Commission that expires or is kept. OFX pays 24 months and nothing after termination. Currencies Direct may keep accrued fees after 365+180 days without a new referral. FX News Group (Sep 2026) calls these the "fine print nobody notices" (FXNG).
- Lost credit for referrals. Airwallex voids prospects already in its CRM; Currencies Direct lets a rival introducer claim a client until the lead qualifies; affiliate-platform reviews report broken links and unpaid commission.
CT promise: lifetime commission that survives termination, line-item statements, and evidence behind every "we already knew them".
4a. Spanish estate agents
- The wedge is completion day. PropertyPay removes banker's drafts, bank visits and powers of attorney; funds release instantly at the notary when both sides hold accounts. Redpin sells it on fraud: "4 out of 5 Spanish property professionals" face email fraud. CT: a completion pack built on named EUR accounts: verified payee details, proof of funds for the agent's AML file, payment confirmation to agent and lawyer.
- Currencies Direct warns that customers of providers without an EU licence "may not be fully protected". CT needs a clear answer for buyers who live in the EU.
- Spanish withholding tax on partner commissions (24% for non-residents). CT: handle the withholding for agents; build the required fee disclosure into the referral form.
4b. Corporate service providers
- Banking is already bundled at incorporation. Quality Company Formations puts a Wise referral in its non-resident package. Companies Made Simple's partner directory lists Tide (£100 cashback), Zempler, Barclays, ANNA and Revolut, but no FX specialist (directory). Tide gives formation agents a partnerships manager, referral code, landing page and API.
- Copy the Sleek-Airwallex deal: faster account review plus free first conversions.
- CT: open a named multi-currency account alongside the company, prefill KYC from the CSP's due-diligence pack, pay a bounty per account plus a lifetime share. Pitch to UK formation agents and offshore CSPs whose companies collect EUR or USD.
Agent's caveats: few public complaints from FX partners themselves (section 3 drawn from providers' own terms + affiliate-platform reviews); several pages read from Wayback (2024-26) because live sites block fetches; Airwallex 15-20% and Corpay 5% are third-party figures; two unconfirmed claims left out (Currencies Direct/GICA deal, Lumon's "2,000 referring agents").