Partner Federation Glossary — last updated September 2026
Churn is the rate at which referred clients stop trading and go inactive — they stop depositing, stop opening new positions, or withdraw and never come back. It’s usually measured as a percentage of active clients lost over a given period.
Why It Matters for Partners
Churn is the number that makes or breaks revenue share and spread share specifically, since both models only pay a partner for as long as a referred client keeps trading. A client with high LTV who churns out after two months is worth far less than the same client trading steadily for two years — which is why churn sits right alongside LTV and CAC as one of the core numbers a serious partner tracks, rather than just the initial signup or FTD count.