“What
on earth are Forex rebates?” A long time ago, I was wondering the same
thing as when someone told me about them I never bothered to look into
it – that was actually my biggest Forex remorse.
Let’s
get to the point though. As you are probably wondering, what are these
so called “rebates”? Well, Forex rebates can simply be defined as “free
cash bonus that all Forex traders are eligible to receive on every
single trade they place.” So if you are interested in free cash bonus on
every single trade you place, just read the following paragraphs and
you will see that there’s nothing tricky about it. Right
now you have all the right to be skeptical as you’re probably thinking:
“Free cash rebates, free kickbacks free this free that?? Bull$#%^! How
the heck is that even possible?” believe it or not it is only a matter
of 45 seconds to understand how rebates work. It actually makes sense if
you think that it’s based on profit sharing with Forex traders and it
results in a win-win situation for both the Forex trader and the rebate
provider. The steps that make rebates possible are as simple as the
following:
I.You open a trading account with a Forex broker through a middleman (NOT directly with the broker).
II.As
a reward, the broker pays the middleman an agreed finder’s fee, which
is equivalent to a portion of your transaction fees every time you place
a trade.
III. Just
for choosing your broker through the specific middlemen, some of them
give you back a portion of this finder’s fee! This is basically what is
called a Kickback or a “rebate”.
The
greatest part of all is that everyone is happy in the end because the
broker finds a customer, the middleman receives a finder’s fee as a
reward, and you receive a part of this Kickback reward – that is a
rebate. In addition there’s something equally important you need to
consider. You don’t have to pay anything to join a rebates program;
nevertheless an average trader can be paid about $3,000 a year just
through rebates. What’s more, it requires nothing for receiving rebates;
you can receive rebates on a $20 dollar deposit where you only trade
minilots if you want. Last but not least, top rebate providers likehttp://www.KickBackFX.comdo
not mark up any spreads for the sake of giving higher rebates. That
basically means that the spreads you see will be exactly the same either
if you join a rebates program or not. In other words you wouldn’t have
to change anything in the way you trade, yet you would receive rebates
on every single transaction fee you pay win or lose. Perhaps you are now asking the question of “How do I receive these rebates?” Well, my fellow trader, here it goes:
Choose
a middleman that you would like to be your rebates provider. Be careful
however because there are not that many great Forex rebate providers
out there, most likely because most of the middlemen are greedy and keep
everything that brokers pay them for themselves. The most important
things to consider when choosing a middleman are the rebate rates you
will get, the rebate tools offered, the brokers that they work with, the
customer support quality, and the additional bonuses (such as referral
bonuses).
Sign
up for a free account with the rebate provider you chose. No matter
whom you choose this usually takes about 30 seconds as you just need to
let them know how you would like to be paid your rebate (PayPal, check,
etc.).
Open
a Forex trading account with one of your rebate provider’s partner
brokers. The important thing to keep in mind throughout this step is to
sign up with a broker through your rebate provider’s website because if
you don’t, then your rebate provider will not be paid their finder’s
fee, which means you won’t receive your rebates as well.
The
moment your account is approved, begin trading and you will
automatically start earning rebates, as rebates are accumulated
automatically.
If a referral program is offered, you might as well pass on the good word and make some extra cash.
The majority of rebate providers offer some form
of a referral program so make sure to check if yours does. You don’t
have anything to lose really, because the only thing you have to do is
let somebody know about how he can get some extra cash and at the same
time you fill up your own pocket. That is
basically it – hopefully, it should be very clear-cut. If you would like
the idea of receiving rebates (who wouldn’t?), then you just need to
switch your broker to one that a rebate provider works with. The
bottom-line is that first of all and more importantly Forex trading is
enjoyable and addictive. Secondly you should definitely keep in mind
that it always has its up and downs and thus it is not easy at all to
stay consistent. Thirdly it’s obvious that there are plenty of Forex
strategies you can mix and match, but you should fit in the only one
that is guaranteed to stay consistent and positive, which is a Forex
rebate of course. Do consider that you dont
pay anything to anyone. When you open an account with a rebate provider
you receive monthly cash on every trade you make. Simple as that.
KickbackFXis the rebate provider that we used to test this service.
When KickBackFX launched in August last year, we promised to take the hassle out of selecting Forex rebate service provider with our fresh, exciting, easy to access and easy to use service. We said our offers would be simple, no nonsense, straightforward trading conditions that are exactly the same ...
“What
on earth are Forex rebates?” A long time ago, I was wondering the same
thing as when someone told me about them I never bothered to look into
it – that was actually my biggest Forex remorse.
Let’s
get to the point though. As you are probably wondering, what are these
s...
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the benefits that are offered by trading with a Forex rebate provider.
Forex rebates
are simple. There are no complicated processes and the procedure is effortless.
The only thing that the trader has to do is to open his trading account through
the rebate pr...