If you are looking to earn cashback from your Forex trading, HotForex offers a great way to do so. This cashback program allows you to deposit a certain amount of money back into your trading account each month. However, you can only claim this cashback if you open an account with HotForex.
This rebate is paid as a percentage of the transaction cost. This allows traders to trade for less, and also improves their win ratio. A rebate of one pip results in a net spread of two pips, so it’s a good way to lower your costs and increase your profits. This kind of cashback is particularly beneficial to scalpers and other short-term traders who often trade in very short time frames.
The cashback amounts vary among brokers. Some give as little as 0.5 pip in cashback for EURUSD trades, while others offer higher rebate amounts. The cashbacks are transferred to your trading account or to your sub-IB account. It’s important to understand your rebate terms and the process before you begin trading.
The amount of cashback depends on how much you trade with each provider. It can range from a few cents to as much as a few thousand dollars. Some cashback programs have very generous terms, so it’s important to read the fine print before choosing a provider. In some cases, you can earn as much as 80% of the money you invest through this program.
HotForex offers several account types, so clients can choose one that suits their trading style best. They also provide superior trading conditions, lightning-fast execution, and a variety of trading tools and services. This award-winning forex broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). HotForex also has a multilingual support team.