How FXTM Acquired 1,161 New Traders with a 43% CPA Reduction on Blockchain-Ads

Drive new trader registrations and first-time deposits
FXTM (ForexTime) is a globally regulated forex and CFD broker offering trading across currency pairs, commodities, indices, and crypto assets. The platform serves retail and professional traders across more than 150 countries, competing on tight spreads, multi-platform access, and active trader rewards programs. In 2024, FXTM ran a three-month campaign targeting English and Spanish traders to drive registrations and deposits via a crypto giveaway.
A note on attribution: FXTM's paid acquisition on Blockchain-Ads is managed through affiliate partners, each running independently with their own market focus and creative approach. This case study covers one such campaign and reflects what Blockchain-Ads can deliver for FXTM-aligned partners across English and Spanish-speaking markets.
FXTM needed to reach high-intent forex traders across competitive English and Spanish-speaking markets and convert them to registered depositing accounts within a fixed promotional window. Three obstacles defined what that required:
Standard display networks delivered FXTM impressions to general finance audiences lacking verified trading behaviour. Targeting users researching forex platforms required advanced behavioural segmentation beyond demographics. FXTM used Blockchain-Ads to identify genuine trading intent and promote the crypto giveaway through four capabilities:
The campaign launched across Forex Traders, Perpetual Traders, and Interest-Based Finance segments simultaneously.
Four creative angles entered the market:
All four angles ran across both English and Spanish-speaking audience pools at equal weight to generate comparable performance signals. Opening CPA sat at $300 as the algorithm accumulated conversion data across the new channel, with 116 conversions delivered in this phase.
Behavioural segments outperformed interest-based segments on conversion depth, confirming that verified trading activity was a stronger predictor of deposit intent than topical interest. The giveaway and asset angles drove the highest engagement across both language markets. The retargeting funnel activated against users who had clicked through to the registration page without completing a deposit, delivering urgency-led creative to close the gap. Spend consolidated behind the top-performing segment and creative combinations, driving CPA from $300 to $240, a 20% reduction, with 348 conversions delivered across the phase.
The final phase concentrated spend behind the Forex Traders behavioural segment and the giveaway and asset creative angles. Retargeting was running in parallel against the accumulated warm audience pool. The urgency angle gained additional traction as the June 21 promotional deadline approached, reinforcing the time-bound nature of the BTC and ETH prize mechanic. CPA compressed from $240 to $172 in the final phase, a further 28% reduction, with 697 conversions delivered. The two-month campaign closed with 1,161 new traders acquired and a 43% total CPA reduction from the Phase 1 starting point.