How to Lower Your Transaction Costs with Forex Rebates

[kickbackfx]

“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 like http://www.KickBackFX.com do 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 don't 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.

[alam3636]

Well transaction cost have direct effect on profitability and some time big transaction cost may make your losses grow in case you had a losing trade. And reducing transaction cost by way of getting ref-back should always be welcomed as it simply increase the profitability and reduce losses.

[PROPENSITY100]

Yes joining a rebate program can give us good refund of our transaction costs. Rebates are given irrespective of whether we lose or win a trade thus all traders should exploit the advantage of these rebate programs.

[euro]

I think this is a good deal too. I'm always looking for such brokers. I know at forum.tradersunion have some of that option for rebates. I always like some free money back right. Also, I also like bonuses on deposits and low capital deposit and low leverage. I also like some bonuses through forum posting. It makes it worthwhile. 

[Thayungsta]

The tips

[Decub]

Joining a rebate program is quite good against the believe that some have where the say that a trader who comes in though such affiliate program is bound to pay higher spread fee or have the tendency to be denied of some offers by the broker. IAFT is also another that offers this rebate program.

[standart]

rebate is very nice program which give traders additional profit in trading account. no matter whether our trading end up with profit or loss, bonus rebate always given in our trading account. I am never join brokers through IB and get rebate bonus. but for sure, I am interested to try.

[Stekin]

Rebate is good because it will be enabling the trader in here to be able to receive some money when he or she trades. This thing is good because whether you win or you lose, you will be able to receive some money from the rebate company or the website that refer you.

[surya77]

so we need to see the spread, spread also have impact on you profit run.  low spread is way easily for you to earn profit.

[Decub]

Because Forex is such a business where risks dominate, it becomes quite necessary for traders to always look for a way to recover part, even though it's not all the risks. That is exactly where rebates is quite essential. Rebates offer traders a facelift when it comes to reducing the effect of losses.

[Alick Bannerman]

Frankly speaking I did not really look too much into transaction. But now since we are talking about it I feel that this is indeed a good thing, it might not be exactly for me but I see a lot of traders losing massive amount over these problems, so we should always look for best broker to work with to get every possible benefit.

 

I suggest to use OctaFX broker, it’s the best broker in the world today with having great system which make sure we don’t need to pay anything extra with all our payments getting proceed instantly to any payment processor and at the same time, it also is great that we are not required to pay much money.

[Decub]

I think it's a matter of getting back something out of your trade or investment not minding if you lost or gained. It is a matter of knowing that your broker gives you a certain percentage back even though you lost out and that helps you get back on track sometimes and also makes you feel lesser pains of the outcome of your negative trades.

[pepy]

Trade with lower spreads, i mean choosing the right time you know, when you open a position choose when the currency that you choose does not lack of liquidity so the spread is low during that time. So far i only see that is the only way to do that, not anymore because that is the only is.

[myregister]

Logically with forex rebates someone will reduce or increase either loss and profit. It will increase profit if we make profit if not we reduce the risk or even in a good scenario even we loss we still make profit because our rebate is bigger than our loss.

[pepy]

Rebate make our loss lower and our profit higher, you got it? I think you're confusing about the loss and profit with forex rebates. Well FX rebates is truly good offer for people who want to use it. It is proven by many people who applied to it and feel happy with it, as i said before it lowers the loss while increase the profit so this is why this one is useful offer.

[myregister]

I think rebates is not lower the cost by simplest way. Lower cost of transaction can be done by open a position in the right time when the spread is quite low, in some ECN the average pips for EURUSD is around 0.1- 1.xx pips. Also don't open position in a very volatile condition, wait until it is a bit calm, it surely lower the cost aside from having rebate.