Strategy
Measuring broker marketing: CPA, FTD, LTV and what really matters
Broker marketing dashboards are full of numbers that look good and mean little. Impressions, clicks and registrations are easy to grow. Profitable traders are not. The brokers that allocate budget well measure further down the funnel.
The core funnel
- Registration: a sign-up. Cheap and often misleading.
- KYC completed: a real, verified person.
- FTD (first-time deposit): the key acquisition event for most brokers.
- Active trader: someone who trades after depositing.
- Retained trader: still active after 30, 90 and 180 days.
Cost per FTD, not cost per lead
A channel with cheap leads and poor deposit rates can be far more expensive than one with pricier leads that fund. Always compare channels on cost per first-time deposit — and ideally on cost per retained trader.
Cheap leads are only cheap until you count the deposits.
Lifetime value changes everything
Traders from different channels and regions have very different lifetime values. Creator-referred traders might deposit less initially but stay longer; bonus-driven traders might deposit quickly and leave. Estimate LTV by source, then set target acquisition costs per channel.
Attribution you can trust
Connect your CRM, trading platform and ad platforms so deposits are tied to sources. Use consistent UTM tagging, affiliate tracking and offline conversion imports. Imperfect attribution is fine; no attribution is not.
Report on cohorts
Group traders by month and source, then track deposits and activity over time. Cohort reporting reveals which campaigns built lasting value and which just produced a spike.
The takeaway
Measure registrations, but manage by FTDs, retention and lifetime value. That's how budget flows to the channels that actually grow the business.
This article is for general information only and is not financial, legal or regulatory advice. Trading forex, CFDs and crypto carries a high risk of loss.