Cash Back Forex Rebates – Get Paid On Every Trade You Make
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- Cash Back Forex Rebates – Get Paid On Every Trade You Make
Are you getting a rebate for every trade you make?
If you aren’t, then you’re throwing money out the window.
About Cash Back Forex Broker Rebates
Forex broker rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex broker rebates truly reduce the costs of the transaction and improve their bottom line.
How Does It Work?
When you link a new or existing forex trading account to Cash Back Forex (CBFX) the broker pays them part of the spread or commission profit for every trade you make as compensation for referring a customer to them.
Cash Back Forex then share the majority of the revenue with you, paying you a cash rebate for each trade you make as thank you for signing up.
Unlike some of the competitors your spreads will never increase as a result of using the CBFX service!
The only difference is: as their client you earn extra cash per trade, making trading more profitable than opening direct with the broker. Founded in 2007, this company is the original and leading provider of forex rebates. They pay rebates to over 100,000 accounts and traders love the helpful 24 hour live chat, telephone and email support.
Why Cash Back Forex (CBFX)?
- Real Time Reports – Real-time reports delivered to your profile dashboard update every 10 minutes (MT4) or once daily (MT5)
- #1 Rebate Provider Since 2007 – The leading and oldest provider of forex and cryptocurrency rebates.
- Instant Cash Back – Cash back right to your brokerage account and spread/commission discounts at select brokers.
- Customers like them – 99% positive customer reviews!
Are Forex Broker Rebates A Scam?
Rebates paid by legitimate rebate providers like Cash Back Forex are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer.
Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
In once case since CBFX first began offering rebates in 2007 a broker was found to be marking up pricing on their own to gain a higher profit for themselves. This is very easy to catch since clients quickly report the pricing difference. The agreement with that broker was terminated indefinitely.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to work with a rebate provider than solely with the forex broker.
What Is The Best Forex Rebate Program?
The first forex rebate programs were Chinese and catered to Chinese clients. In 2006 the company ‘FX Rebates’ arrived on the scene out of the USA, offering forex rebates to a global clientele. In 2007 Cash Back Forex became the second global rebate provider and surged in popularity.
‘FX Rebates’ shortly thereafter either went out of business or stopped offering forex rebates. From 2007 onwards CBFX have been the dominant and largest rebate provider and one of the largest introducing brokers globally.
Many competitors have come online since 2007, some good and some bad. Cash Back Forex has continued to improve along the way to stay ahead of the pack.
Are There Any Other Benefits To Working With A Forex Rebate Provider?
Due to the unique relationship with many brokers, Cash Back Forex have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues.
Brokers are often very fast to respond to them, since they typically have many clients and deal with their support team’s on a daily basis.
The CBFX support team is available 24 hours per day in 8 native languages & 23 total languages for any questions.
How Are Forex Rebates Paid?
Because Cash Back Forex deal with so many traders in so many different countries and serve 23 languages they have to cover a wide array of options. Here’s what they offer:
Forex Rebate Options:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of the top brokers including IC Markets and Global Prime. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of the top brokers including HF Markets, Instaforex, Pepperstone, and XM. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, Entropay, China Unionpay, and Neteller.
Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
Cash Back Forex Broker Rebates Advantages
Most of these rebate-giving IB’s have relationships with a single broker or a few brokers. This means that you would be very limited in your selection of a broker.
For instance, you may want to open an account with Broker A or Broker B, but if the rebate-giving IB has no relationship with either of them, you’re simply out of luck.
However, our choice for a rebate-giving IB, CashBackForex, has relationships with over fourty brokers.
If you select the “Overall Score” when sorting the following widget, you will find that IC Markets, Tickmill, RoboForex, Pepperstone and Global Prime are among the Best Forex Brokers of 2023.
We therefore recommend opening a trading account with IC Markets.
You can find more information in our IC Markets review.
Here is a list of its Forex Brokers, Cryptocurrency Brokers, and USA Brokers with the rebates and other details:
How To Receive Rebates From Trading With The Best Forex Brokers
If you’re considering opening a trading account with one of the Best Forex Brokers 2023, you might as well open one through an IB like CashBackForex and receive rebates every month. The spreads will remain the same as if you opened an account directly with one of these brokers.
Overall, its a win-win situation for you and the IB!
You’re now probably asking: Why isn’t everyone doing this? Why would anyone open an account directly with one of these brokers instead of going through a rebate-giving IB?
The likely answer: Most people just don’t know about it!
To your trading success,
Michael Sommer
BEST FOREX EA’S | EXPERT ADVISORS | FX ROBOTS
