Forex Rebates

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fxpro888

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Hello All,

I am new to forex and have only traded less than 6 months. But last month I signed up to get rebates from CashBackFX - forex refunds, forex rebates and forex cash back and I earned over $1,000on my trades for the month.

I am interested to know if any one else is doing this? It doesnt seem to be very popular but I can't figure out why!?

I am enjoy it very much making money each time I trade. I often trade 10 or 20 times a day with just a few pips gain or loss. Now, with cashbackfx.com I make money even when I break even. I get money back no matter what. Its a big help.

Very interested to find out your opinions?

Fxpro888
 
Commission is always commission. If the company is legit and you do get money back it is only a small proportion of the fees. The question is- do the brokers you have to use to get the money back actually charge higher fees anyway? In which case there is no point- you are simply working to make the company itself (both the referring company and the broker) profit (some of your 'rebate' goes towards paying the referring company).
 
UKtradergirl said:
Commission is always commission. If the company is legit and you do get money back it is only a small proportion of the fees. The question is- do the brokers you have to use to get the money back actually charge higher fees anyway? In which case there is no point- you are simply working to make the company itself (both the referring company and the broker) profit (some of your 'rebate' goes towards paying the referring company).
Click to expand...


Just red flag it as spam/con/rip off/total ********. And let the mods take it out. It is not even worth your time and effort replying by typing on the keyboard.
 
Dear UKTraderGirl,

I do not completely understand your meaning? please xplain more.

I have traded with FXCM, ibfx, and others and the spreads, service and platforms are all roughly the same if not identical. But now, after signing up with cashbackfx.com, I trade normally and at the end of the week or month I get rebates on every trade I made.

There is always cost, and to my understanding a fx traders cost is the spread he or she pays (i.e 2 pips for euro, 3 for swiss, 4 for gbp, 5 for aussie or whatever). I am still paying the same spreads as I was at all of these firms (except fXMc sometimes has much bigger spreads - wich I think is unfair) but now I get money back to me!! $1000+ last month.
 
its simple:
The company must make their money from somewere.

Either its just a scam and they will steal ur money

or they make money by selling weapons to the russian maffia

I would put my money on the first ;P
 
correect, but if the spreads your normally trade are the same and there are no other charges/fees/costs then its got to be good, right? ? I am skeptical too.

my spreads haven't changed. the only thing that has changed is I have now started getting cash back.

certainly someone is making money from me. but they were before in any event right? so it stands to reason, if all things remain the same then I benefit from getting the rebates. your opinion?
 
If i were a broker and i made 200 uds from a customer without rebates. Then maybe per customer my expenses are 100 usd. That means 100 usd in profit.

If i were to give my customers 200 usd in rebate i would still have 100 usd in expense. meaning i would have a 100 usd loss for every customer.

And even if i only have you 50 usd back i would make "only" 50 usd in profit. Why make 50usd in profit when i can make 100usd in profit?

And even if they did it for marketing purposes i think that they "steal" another 150 usd from some hidden fees u havent discovered. Meaning you pay 350-100 = 250 usd. Thats more than other brokers.

In the end we are always the loser in the deal with the broker. So go for a real broker like migfx or even better IB.

=)
 
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The rebate is just part of the marketing budget that bucket shops are prepared to pay to attract punters via IB's.

The punter pays the same spread regardless, so they might as well take the rebate.

I suppose it might be argued that the customers of a particular IB may be treated slightly better, if the IB has influence over a large number of customers, and the option to take business elsewhere (although I doubt in practice that is the case)

Loads of companies offer similar rebates, they've been around for a while so you might as well go with one whose well established with a proven track record of paying.
 
I only know who really pays forex rebates and broker is reliable. Also you can get up to 40 usd rebate for professional account if yo trade at least 1000 lots monthly.
 
Wolffx said:
I only know who really pays forex rebates and broker is reliable. Also you can get up to 40 usd rebate for professional account if yo trade at least 1000 lots monthly.
Click to expand...

At least 1000 ? You mean standard lots ? As a newbie, I am into rebates (make me hope I am put less money on my account). But this kind of restriction is much too difficult, 1000 lots imply a lot of money, i.e. a lot of risk.
 
You may trade even just 1 lot and get 15 usd. Wish a serious rebate then seriuos volume is required. 1000 lts is not to much.
 
LoL, its funny to see everyone out there just guessing that its a scam or there is a 'catch'... there are no smoke nor mirrors here that I can see...

sure, approach it with caution, but the fact is, fx rebates are real. I consider myself living proof. go search around. everyone should get these.

the spreads you pay are the same (though each broker does vary). the point is, that an Introducing Broker (what CashBackFX - forex refunds, forex rebates and forex cash back is) can give you a % fo those spreads back to you each time you trade. And there is no extra cost.

And there is no need to trade 1000 lots. LoL. Thats quite a bit. Trade as usual.

Sign up, open an account and see for yourself.

No scam, just getting what we deserve. $$$ back.
 
This kind of rebate is good for newbie traders like me. Will try it out.









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Hello..i am new in forex..

is't true Herringtrader..? coz i am in survey how true this forex rebates and can u give example..
 
Just a word of advice, I have had my fair share of these rebate IB and more often than not they are not a true IBs.

1. In order to be a true IB they should never have access to your funds
2. Never have direct access to you account
3. Should be NFA regulated (in the US, FSA in the UK)
4. Should be able to offer reference or proof of past business.

Now I am not going to make any suggestion on the premise of sounding too biased, but feel free to PM if you want to hear my personal opinion.
 
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