Top 3 Best Forex Rebates Program

top and the best biggest forex rebates brokers program

Even now, many forex traders do not know much about what forex rebates or forex cashback is. People who have been involved in forex trading might have heard about this program offered by many of the brokers, but new entrants are likely to be totally clueless. The aim of this post is to provide some information about the forex rebate program, how it works and how a trader can choose the best forex rebates program.

What is Forex Rebate

Forex rebate or cashback is not a bonus, but a financial incentive offered by forex brokers, or more frequently by third parties, in order to either acquire more or to retain existing clients. They return a part of the spread from each trade back to the traders themselves. This is to say that a forex trader receives some money back into his/her trading account whenever he/she executes a trade. The forex rebates often take into account the volume of trade produced by a trader. The program works best along with expert advisors that implement extreme scalping. This is because they would constantly be producing a great deal of trading volume.

Click Here >> Best Forex Brokers List with Highest Pip Rebates

Best Forex Rebates Program – How Does It Work

When a customer opens a currency trading account through forex rebates provider’s website or a reference link, the brokerage pays a part of the spread in a trade executed by the client as reward for referring a new customer to them. The forex rebates service provider then shares a large portion of the incentives it receives with the trader.

Opening an account with a forex broker through the rebates service provider’s website or reference link does not alter the conditions of trade such as the spreads and many other features offered by the forex broker if the customer or trader were to open an account directly with them. The only difference is that the trader either maximizes profits per trade or reduces losses to some extent.

The concept is best explained with the help of an example. Traders have to pay for each position they open and close. Depending on the broker and the account type, the trader is charged a fixed commission or spread.

Trader A opens a trading account through a forex rebates provider and Trader B opens an account directly with the forex broker. The trade details are as follows:

Trader A opens EUR/USD position, 1.00 lot, at 1.11000
Spread is 1.1
Closes EUR/USD position at 1.11050
Profit is 5 pips/$50.00
Cashback Payment $5.00
Total Profit is $55.00

Trader B opens EUR/USD position, 1.00 lot, at 1.11050
Spread is 1.1
Closes EUR/USD position at 1.11050
Profit is 5 pips/$50.00
No cashback payment as Trader B has opened the account directly with the broker
Total profit is $50

Best Forex Rebates Program – Advantages

Top forex rebates programs help traders to increase their profits or reduce their losses. In the case of scalpers, the increase in profit can go up to 100 percent, or even more at times, in a month. Forex traders stand to accrue profits on each and every trade they execute, even if a trade ends in a loss. This is because getting some money is better than losing it completely. And, the best thing is that it comes to traders for free without any change in trading conditions.

Additionally, traders are offered some free services and bonuses by best forex rebates program providers for using their services periodically. The rebates program can also be considered as an opportunity to earn when new traders are still in the process of learning to trade. This is because traders inevitably lose some of the trades during the learning phase. A rebate program helps to reduce the impact of the losses suffered. Finally, traders can join a rebates program even if they are already working with an online forex broker.

Best Forex Rebates Program – How To Get Rebates

The first step is to become a member of the forex rebates service provider. This is easy because all that a trader is required to do is register on their website. After registration, the trader has to open an account with a forex broker of his/her choice and then add their account number in the panel on the rebates service provider’s website.

If the trader opens a trading account with forex broker prior to registering with the rebates service provider, then he/she can email to the rebates provider and get guided on how to register on their website. On the other hand, if the trader has opened an account either through rebates provider’s website or their reference link, then the trader will automatically receive the rebate into his/her account. The payment to the trader’s account is usually made in about a month’s time. Traders can withdraw the amount as per the withdrawal stipulations specified by the broker.

Some of the best forex rebates program providers are as follows:

CashbackForex.Com

Cashback Forex has been providing rebates and discounts to forex traders right from 2008 onwards. Traders can register on the company’s website for free and add their preferred payout method to become eligible for the benefits. Payment methods offered by the company include PayPal, Skrill, UnionPay, bank transfer, Neteller and fasapay. However, traders’ earnings are dependent on three things: rebate rate applicable for the chosen broker’s product, pairs traded and volume traded on each pair. Customer support is provided through email and chat service.

PremiumTrading.Co

top and the best forex rebates program

Premium Trading, an International forex rebates service provider, enables you to obtain cash rebates from the best forex brokers around the world. The company offers rebates up to 80 percent of spread paid for each trade and they do not charge any additional fees for the services they provide. Premium Trading has developed a rebates calculator which enables traders to determine the size of the rebates available to them, depending on the broker chosen, account type, instrument, lot size and trades per day. Cash rebates are credited to the traders’ accounts between 5th and 15th of every month. Withdrawal of funds can be effected through Neteller, Skrill, WebMoney, MasterCard, VISA and bank transfer.

ForexCashbackRebate

ForexCashbackRebate, founded in September 2013, provide an elaborate User Dashboard to help traders track cashback/rebates. They work with a number of popular forex brokerage firms that offer instruments such as currencies, CFDs, stocks, commodities and indices, among others. They don’t charge any additional fees and keep the spreads and commissions the same. In addition, they pay out the rebates on a monthly basis. Further, their friendly and knowledgeable customer support staffs provide assistance clients for most part of the day through email and live chat. Rebates are provided to traders for each of their winning or losing trades and withdrawals are enabled through secure and reliable payment systems.

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