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Forex Rebate Program
PaxForex offers a "Rebate Program" whereby IB receives opportunity to pay his clients a part of the spread from every trade that is closed throughout the month by his clients.
This account type was specially developed for IB’s that attracts clients using forex rebates.
There is no cost to join the Rebate Program and trading conditions (spreads, execution and service) will be the same as any other PaxForex account type.
In order to participate in "Rebate Program", please send request to IB department using form below the page.
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We believe that any currency trader should consider forex rebates as a potential tool for increasing his profit. Here we are going to review some most common advantages and disadvantages of forex rebate programs, which sometimes also called as cash back rebate.
As you know, forex rebates were invented in order to benefit forex traders by giving them back a certain amount of funds for every trade they make. Usually it comes from a part of broker’s spread.
Let’s first describe the advantages of joining a forex rebate program.
- Forex trader gets reward just for making trades on the currency market. Why not enjoy a certain amount of funds that through time could increase? So, it’s obvious for joining and getting cash back forex.
- Rebates may help make your currency trading more profitable. If you’re having a bad run of losing trades, rebates can help make up for it by giving you back many of the money you’ve dropped. On the various hand, if you’re generating winning trades, rebates will provide you with additional profits.
- Any cash back rebate method will reward you just for signing up with a particular broker. Just as one incentive, many agents offer delightful bonuses to people that will register with them from the rebate method. This may put hundreds or perhaps lots of money into your own trading account at the same time which you can use to help to make trades.
- You'll be able to still enroll in a cash back rebate program although you may already have an account through an online agent. Many programs work with the existing broker to set up a rebate for you.
- A rebate method is a good way to earn even though you’re still finding out how to trade. Any time you’re nevertheless practicing trading, losing at forex market is unavoidable. But some sort of rebate might help take away a few of the sting of such losses.
- Subscribing to a forex rebate program is usually free. Since the objective of the program is set to promote certain brokerages, there’s not any reason to allow them to charge account fees or perhaps other persistent fees.
- The greater you trade, the higher quantity of rebates you can earn. Most forex rebate packages encourage you to definitely make much more trades through paying a rebate on every completed trade or round-turn successful lot.
Of course, like in every aspect of people’s life, forex rebate program may not be for everyone, so let’s specify its disadvantages.
- The forex rebate can make you complacent. After almost all, why take the time exerting yourself to make successful trades when you're earning some money anyway on your completed trades?
- Signing up for a rebate program can make you dangerous to yourself. Since you’re having rebates on the trades, gain or drop, why not you have to be rash? Of course, those big risks may possibly pay off with a big gain.
- You could have no incentive in becoming a better forex trader. It's not a big difference how unsuccessful trader you are, you’ll nonetheless earn some cash from your current trades by way of cash back rebates. And no one knows, no matter how unsuccessfully you trade, you can still make some winning currency deals.
- A person won’t work out good financial management. Instead of wisely allocating your own trading money among your own forex trades, you may possibly simply decide how much to invest arbitrarily and according to “instinct” rather than sensible forex trading strategy.
- A trader still may have a very strong wish to trade even when he shouldn’t do this. When the forex market is under excessive bulls’ movement, it would be better for you to stay away and take a pause. But a trader will make trades anyway since he is getting cash back rebate.
Thus, forex rebate programs have more advantages than disadvantages and their successful use depends largely on the individual qualities of a trader.