Do you know how to make money using Forex trades, whether they are winning or losing trades?
Most people who trade on the stock exchange or forex market do not know much about cashback or forex rebates. Those involved in foreign exchange transactions may have heard of those programs offered by many brokers, but users who have just started trading have never heard of such programs. The purpose of this article is to provide some information about cashback or forex rebates programs, how they work and how traders can choose the best cashback or forex rebates program.
Do you know what Forex Rebates or Forex cashback is?
Forex rebate or cashback is not a bonus, but a financial incentive offered by a broker or more often by a third party to attract or retain clients. They return a portion of the SPREAD of each trader’s transaction. This means that every time a trader executes a transaction, he will receive part of the commission back in his trading account. Forex Rebates usually take into account the trading volume generated by traders. This plan is best suited for expert consultants who implement extreme scalping. This is because it will continue to generate a large number of transactions.
The Best Forex Cashback Rebates Programs – How Does It Work?
When a client opens a forex trading account through a cashback provider’s website or through a referral link, the broker will pay part of the spread of the transaction executed by the client as a reward for sending new clients to it. Then, the rebates/cashback service provider will share most of the spread with traders.
If a client or trader should open an account with a forex broker directly through our site, it will not change the trading conditions, such as spreads and many other functions provided by the forex broker to which it wishes to register. The only difference is that the trader either maximizes the profit of each transaction or reduces the losses.
Example Forex Cashback / Forex Rebates
It is best to follow an example to explain this concept. Traders must pay fees for each position they open and closem. Depending on the broker and the type of account, traders have to pay a commission or a fixed spread. Trader A opens a trading account through a rebates / cashback account, and Trader B opens a direct account with a currency broker. The exact details are as follows:
Trader Open a EUR / USD position, 1.00 lot, at the price of 1.11000
Spread is: 1.1
The EUR / USD transaction closes at the price of 1.11050
Profit is 5 pips / $ 50.00
Cashback: $ 5.00
Total profit: $ 55.00
Trader B opens a EUR / USD position, 1.00 lot, at the price of 1.11000
Spread is 1.1
The EUR / USD transaction closes at the price of 1.11050
Profit is 5 pips / $ 50.00
No cashback / rebate payment, because Trader B opened the account directly at the broker.
Total profit: $ 50.00.
The best programs for forex cashback rebates – Advantages
The best cashback / rebate programs can help traders increase profits or reduce losses. For those who do scalping, profit growth can go up to 100% or more in a month. Forex traders must accumulate profits for each executed transaction, even if the transaction ends with a loss. This is because using the cashback program, the partial loss of money is better than the total loss of money in a transaction. And, the best thing is that it is offered to traders for free, without changes in trading conditions.
In addition, the best providers of cashback / rebate programs will offer traders some free services and bonuses so that they can use their services regularly. When new traders are still learning to trade, cashback / rebate programs can also be seen as an opportunity to win. This is because traders inevitably lose some trades during the learning phase. The cashback / rebates program helps reduce the impact of losses. Finally, traders can sign up for cashback / rebate programs, even if they already work with forex brokers.
The best forex cashback companies / forex rebates programs – How do you benefit from these advantages
The first step is to become a member of a cashback / rebates service provider. This is easy because all traders have to do is register on their website. After registration, traders must open an account at the forex broker of their choice and then add their account number to the panel on the cashback / rebates provider’s website.
If a trader opens a trading account with a forex broker before registering with the cashback / rebates service provider, he can send an email to the cashback / rebates provider and receive instructions on how to register on the site. On the other hand, if the trader opens an account through the cashback / rebates provider’s website or through his affiliate link, the trader will automatically receive the discount in his account. Payment is usually made to the trader’s account within about a month. Traders can withdraw funds according to the withdrawal regulations specified by the broker. Some of the best providers of forex cashback / rebate plans are as follows:
CashbackForex.Com
Since 2008, Cashback Forex offers cashbacks and rebates to forex users. Traders can register for free on the company’s website and add their preferred payment method to qualify. The payment methods provided by the company include PayPal, Skrill, UnionPay, bank transfer, Neteller and fasapay. However, a trader’s income depends on three things: the discount rate applicable to the product of the selected broker, the trading pair and the volume of each pair. Provides customer support via email and chat services.
PremiumTrading.Co
Premium Trading is an international provider of cashback / rebates services, which allows you to get cash commission discounts from the best forex brokers in the world. The company offers discounts of up to 80% of the spread (commission) of each transaction and does not charge additional fees for the services it offers. Premium Trading has developed a cashback / rebates discount calculator, traders can determine the size of the discount available based on the selected broker, account type, instrument, lot size and daily transactions. Cashbak / cash rebates are credited to the trader’s account between 5 and 15 each month. Funds can be withdrawn via Neteller, Skrill, WebMoney, MasterCard, VISA and by bank transfer.
ForexCashbackRebate
ForexCashbackRebate was established in September 2013, offers a dashboard designed to help traders track cashback / rebates. It cooperates with many popular forex brokerage companies, which offer tools such as currencies, CFDs, stocks, commodities and indices. They do not charge additional fees and keep their spreads and commissions unchanged. In addition, I pay monthly cashback / rebates. In addition, their customer support staff is friendly and knowledgeable. Provides customer support via email and live chat for most of the day. It offers discounts for every winning or losing transaction and withdrawals are made through a secure payment system.
