Forex rebates are a great way to get money back from forex brokers. There are many rebate programs that you can take advantage of. Some of the best are sorted by popularity and user rating. You can also look for brokers that offer other rebates, such as monthly cashback or spread or commission reduction. These brokers should also provide you with real-time reports and a variety of asset classes.
You can receive a certain amount of cash back on each trade that you make with a forex broker. These rebates will automatically arrive in your account. The more you trade, the more cashback you will receive. You can withdraw your cashback from your trading account in a few different ways, including NETELLER, Skrill, PayPal, EcoPayz, and FasaPay. The funds will typically arrive in your account within 3 business days.
Some brokers offer cashback rewards as a way to entice clients to join their loyalty programs. For example, Alpari offers cashback rewards for binary options traders. By trading binary options with Alpari, investors can earn bonus points called Alps (ALP). These points can be exchanged for cash, discounts, or spread refunds. The bonus points can be earned by doing simple activities, such as registering a trading account with a forex broker.
Cashback programs are another way for FX brokers to entice new customers and retain existing traders. Many of the top cashback Forex brokers also have loyalty programs that reward their most loyal clients with prizes. Prizes can range from luxury cars to electronic gadgets to fully paid vacations to exotic locations. You should be sure to check out your cashback program options to find the best one for you.
Cashback forex brokers have various requirements and conditions for calculating your rebates. Some rebate brokers will refund all of the fee, while others will only return a portion. You should check out the terms of these rebates carefully to avoid being scammed. Some rebate portals will claim to have maximum rebates, but these are usually scams.
Some Forex rebates are worth as much as 40% or 50% of your transaction cost. So, finding the best Forex cashback rebate broker can make a big difference in your bottom line. For example, if you trade a currency pair with a 1 pip spread, a rebate of 0.5 pips can mean $1. If you trade through an ECN, the same rebates can amount to over 2% of your total trading cost.
A good Forex broker should offer you a variety of features. Some of these features include: