If you are considering using a forex rebate program, you need to make sure you choose a legitimate one. There are many unscrupulous providers out there that may mark up the commission, spread, and other trading costs they charge to clients. While this isn’t illegal, it can damage the reputation and business of the rebate provider. This article will provide some tips for choosing the best rebate forex program. You can start by comparing rebates offered by different forex brokers.
Forex rebates are normally reserved for new account holders, but many brokers also offer these to existing customers. Many brokers even offer referral programs that allow existing clients to earn extra money. Using a forex rebate program can make a lot of difference in your income. This is a great way to earn extra money and have it credited directly to your trading account.
A rebate forex program pays a percentage of the transaction costs back to you. This means you pay less in spread and improve your winning ratio. If you are looking for a Forex rebate, make sure you find a broker that offers rebates in the currency pairs you trade. XM is one of the more regulated brokers, with an ASIC and CySEC license. The company also offers advanced market research tools for its clients. Its minimum deposit is just $5. You can also make use of rebates offered by brokers that are CySEC and Dubai DFSA-regulated.
To calculate your rebates, you can use a Forex rebate calculator. This calculator will take into account your trading habits and give you the best rebate based on these. Select a popular currency pair, your broker, and your account type. You can also input the size of your Forex rebate and the number of trades you make each day. For example, if you trade EURUSD with a 1.6 point rebate every day, you’ll earn $1,680 a month.
ForexCashbackRebate is a relatively new company that focuses on providing forex rebates to traders. The company was founded in September 2013, and works with some of the largest forex brokerage firms. It doesn’t charge additional fees and commissions and pays out rebates on a monthly basis. It also provides knowledgeable customer service and secure payment systems for withdrawals.
Rebates are paid out monthly, usually around the 12th of each month. These payments can be made as cashback to a bank account, NETELLER, Paypal, China Unionpay, or FasaPay. The cashback is paid to you within 1-3 business days after your trades are closed.
To avoid having to pay high fees, try to find a forex broker that offers a rebate program. Binance and FX CashBack are both popular options for forex rebates. The latter offers a great variety of order types and low trading fees. If you prefer trading on a cryptocurrency exchange, PrimeXBT is another great choice. To find the best rebate forex broker, look at the fee structure, supported cryptocurrencies, and storage options before deciding which one to choose.