Forex rebates are a great way to make more money trading forex. A rebate is a percentage of the transaction cost that is returned to the trader, and this usually results in a smaller spread and better win ratio. For example, if a broker offers a one-pip rebate, the net spread becomes two pips.
Rebates are often offered by brokers to traders as a way to cut the spread and minimize broker commissions. They also serve as consolation prizes when a trade is not profitable. The downside of these rebates is that brokers aren’t always able to reach clients in various regions. They may not have a representative office or have language barriers. However, some brokers are willing to split a commission with rebate services.
A rebate comparison website may not offer you the best spreads, but it can still save you money. A forex rebate provider has limited access to your trading account. Typically, they only have the number of your trading account, which you provide them with upon request. Some rebate providers will provide you with limited account information, such as your trading history. This is not ideal because it can compromise the rebate provider’s business and reputation.
Fortunately, there are rebate comparison forex services that will help you make the best decision for your trades. These websites will rank brokers based on their rebate offers and trading conditions. They also have a compensation fund to protect you in the case that your investment doesn’t work out. Some rebate sites even offer free legal support.