Forex rebates are a simple and reliable way of getting more value from your forex trading. Just open a trading account, choose an Introducing Broker (IB) and pick the broker you want. Is that easy. And did we also mention is free?
Simply put, forex rebates is money paid by the broker to the IB everytime you place an order. The provider, in turn, gives a high percentage of this money back to you. This could sound like another marketing scheme for any skeptic out there, but it is actually a quite simple win-win scenario: The broker gets more clients, the IP get commissions and you get your rebates.
When you open an account to trade in forex you have the option of acquiring an IB service that will help you find a good and recognized broker to help you place your trades. IBs are trading companies that can negotiate directly with brokers and get rebate commissions for introducing clients such as yourself to them.
Once your account has been approved and you have selected the broker you wish to work with, you can start trading in the market. The good thing is that the cash rebates you receive don`t depend on the outcome of your trades but rather from the spread; that is, the difference between the buying and the selling price of your trade operation. So win or lose in the market, you will always get money back from forex rebates. If the broker always wins, why shouldn`t you?
Of course, depending on your placement volume so is the amount of money in forex rebates you will receive, which can sometimes alleviate your balance when your trading hasn`t been so good. In the long term, this can become another lucrative way of making money with your financial trading.
You can also receive cash rebates from one or more brokers on multiple accounts. In theory, there is no limit on the number of accounts or brokers you can manage or deal with, however, this all depends on the broker you are working with, as some may not allow them. You can even recommend one you know to your IB system. A simple e-mail notification will generally suffice for the IB to set up a partnership with him so you can have a new source of rebates.
In general, Forex rebates are paid once a month for trades made the previous month. Depending on the broker you may even receive your rebate earlier. You can get your cash rebates through a Pay pal account, moneybookers, ACH or bank wire, but be aware that they all have different rebate fees and minimum payouts and some don’t offer international service. If your rebate for a specific month doesn`t meet the required amount for payout from your payment method it will carry over until you have enough.
So if you need to start thinking about changing your broker or switching your account to a rebate account it is totally worth it. You are not going to become a millionaire with rebates, but it will certainly help your trading earnings, and the more you trade, the more you can win.
Forex rebates is an excellent way to complement your trading earnings. Just open a rebate account, choose a broker to work with and you will start earning money for trading, win or lose.