There are several options for Forex rebates. You can choose a fixed dollar amount, a percentage of your trade turnover, or both. You can also opt to receive rebates daily, weekly, or monthly. The rebate system works between you and your broker. To begin, you need to register on a rebate service’s website and complete an identification process. Once you’re registered, you can open an account with a partner broker. Then, you connect your personal accounts with the broker and receive payment every time you make a trade.
The FXCM Markets retail account is a universally accessible account, which means it’s available to all kinds of traders. It offers competitive spreads – about 1.3 pips for EUR/USD – and no minimum deposit requirement. In addition, you can open an account within minutes and trade for real money. However, it is important to read and understand the company’s terms and conditions before you invest.
FXCM is a registered retail foreign exchange dealer and Futures Commission Merchant. Its retail forex platform provides retail customers with access to over-the-counter forex markets. It acts as a counterparty in retail transactions and rebates 70 percent of its revenue to a market maker.
To qualify for the FXCM Cash Back Rebate Program, you must trade at least 100 standard lots of currency in a month. FXCM automatically calculates your rebate and credits it to your account within 15 calendar days. The amount of cashback you earn will depend on your trading volume. The table below shows the different cashback amounts available to you. To participate, you must have a live trading account with FXCM.
The FXCM Active Trader Rebate Program provides five tiers. The highest tier is $25, and the lowest level is $5. In addition, active traders can qualify for lower rates with FP Markets and Tickmill. FXCM’s commission-based pricing is competitive and offers low underlying spreads of 0.2 pips during peak hours. It also offers a social trading platform called ZuluTrade.
The process of opening an account at FXCM is very easy. Once you’ve registered, you’ll need to verify your identity and address. Then, you’ll need to deposit funds to your account. You can deposit funds from a bank account, credit card, or eWallet. Withdrawals from FXCM are usually free, but you might have to pay a fee if you use a bank wire.
The CFTC and NFA settlement between FXCM and Effex also provides some independent factual support for the Defendants’ claims. This settlement was reached because Effex and FXCM acted with deceptive practices and improperly handled their clients’ money. This case is very important to consumers who want to trade at a high level. If you’re thinking of filing a lawsuit, make sure you have all the evidence that is necessary to pursue your rights. If you want to make sure your claims are legitimate, make sure they’re made in writing.
FXCM misrepresented that there was no conflict of interest between them and retail forex customers. In fact, FXCM had an undisclosed interest in a market maker that traded against retail customers. The CFTC found that FXCM misrepresented their relationship with this market maker. In addition, the company misrepresented its role as a credit intermediary. This put its retail forex customers at risk.