A forex cashback rebate is a good way to boost your profits and reduce your losses. But the rebate should not be your sole focus when you are trading. Instead, focus on the opportunity that is presented to you by the market. If you are obsessed with forex cash back, you should rethink your trading strategy.
The cashback rebate rates are based on the amount of monthly trading volume for currency pairs. The amounts will be lower for ECN, Pro, and cent accounts. Clients who pass verification are eligible for the program. The amount of cashback you can earn is calculated on the basis of monthly trading volumes, which excludes Metals. The payment is done as a balance operation on the first day of every month. For details, see the program’s Members Area.
Forex cash back programs can be dangerous if they are not used properly. They reduce the motivation of traders, which can lead to overtrading and unnecessary trades. It can also lead to bigger risks. For these reasons, it is important to understand the terms and conditions of these programs. If the terms and conditions are unclear, contact the forex broker and seek advice.
Forex cashback rebates are similar to those offered by credit card rewards programs. In exchange for signing up, the company will pay you a certain percentage of your transaction costs. This will lower your commissions and improve your win ratio. It is important to note that a 1% rebate on a transaction will still require a fee from the credit card company.
When it comes to trading in forex, the cost of each transaction is the biggest obstacle that most traders face. The cost can compound and become crippling over time. Forex rebates can reduce these costs, but you will still need to use your trading skills to close the remaining gap. The main purpose of rebates is to help forex traders lower their cost of transaction.