Many forex traders are unaware of forex rebates, otherwise known as forex cashback. This is an excellent opportunity for new traders to make some extra cash online. This program allows users to earn up to 30% of their trading volumes back through a rebate program. Many forex brokers offer these programs, but many people are still unclear about how they work. In this article, we will go over some of the basics of forex rebates and how you can benefit from them.
Forex rebates work in a similar way to credit card rewards programs. A credit card has a fee of 1.5% or more, which is offset by the rebate. The cashback reward that you get from a credit card is not actually free money, but is compensated by the vendors. However, forex rebates are similar to the cashback rewards that you earn when you buy things with your Visa credit card.