Finance

FXTM

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

FXTM
1,161
New Traders Acquired
82
First-Time Deposits
$172
Final CPA
43%
CPA Reduction Over Campaign
Campaign Type
Display
industry
Finance
Duration
3 months (April – June 2024)
Total Ad Spend
$238,204
Key Markets
UK, South Africa, Latin America
Primary KPI
Cost per new trader acquired
Objective

Drive new trader registrations and first-time deposits

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About
FXTM

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.

  • Target Audience: Active forex traders and finance-focused users researching regulated trading platforms
  • Growth Stage: Hyper-growth

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.

The Challenge

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:

  • Audience precision: Forex trader acquisition requires reaching users with demonstrated trading intent. Broad finance audiences include researchers and browsers who do not convert to funded accounts.
  • Promotional window pressure: The campaign was tied to a specific trading competition window. Creative and audience performance had to compound quickly to maximise conversions before the June 21 close date.
  • Bilingual market complexity: Running campaigns across English and Spanish-speaking markets simultaneously required messaging that maintained conversion focus across both audience contexts.

Why Blockchain-Ads

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:

  • Behavioural targeting segments: Campaigns reached Forex Traders and Perpetual Traders, BTC and ETH holders, identified through verified trading activity.
  • Interest-based targeting overlay: Forex and FX Finance and Investment and Trading segments extended reach to users actively researching trading opportunities across both language markets.
  • Retargeting capability: A retargeting funnel re-engaged users who visited the registration page but didn't deposit, utilizing urgency-focused creative to drive conversions.
  • Crypto-native inventory alignment: The BTC and ETH giveaway creative performed in publisher environments where crypto prize mechanics were already part of the audience's daily context.

Campaign Results

  • New traders acquired: 1,161 across a two-month campaign window.
  • First-time deposits: 82, representing a 7.1% registration-to-deposit rate.
  • Final CPA: $172, down from $300 at campaign launch.
  • Total CPA reduction: 43% from Phase 1 to Phase 3.
  • Phase progression: $300 CPA (Phase 1) → $240 CPA (Phase 2) → $172 CPA (Phase 3).
  • Conversion distribution: 116 in Phase 1, 348 in Phase 2, 697 in Phase 3.
  • Total deposit volume: $120,283 generated across English and Spanish-speaking markets.
  • Impressions: 7.5M+ delivered across UK, South Africa, and Latin America.
Selected Ad Examples

Campaign Strategy

Phase 1: Learning (Month 1)

The campaign launched across Forex Traders, Perpetual Traders, and Interest-Based Finance segments simultaneously. 

Four creative angles entered the market:

  • An outcome angle leading with trade crypto and win crypto.
  • A giveaway angle leading with the Great FXTM Crypto Giveaway.
  • An urgency angle specifying the April 17 to June 21 trading window.A
  • An asset angle leading with winning BTC and ETH with FXTM.

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.

Phase 2: Consideration (Month 2)

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.

Phase 3: Acquisition and Retargeting (Month 3)

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.

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