Forex trading is a very popular business today, forex trading is also known as Foreign Exchange (Foreign Exchange). This business deals with buying and selling foreign currencies.
If you are a forex trader who has been in this business for a long time, you will be familiar with the term forex rebate. The rebate program is widely used by traders to save on trading costs incurred when trading in the international forex market.
Maybe for those of you who are new to the forex trading business, you don’t understand what forex rebates (cashback) are, for that we will provide an overview of information about what forex rebates are.
Forex rebates know it as a return of trading spreads paid by traders to brokers when trading. This rebate will be received by traders if they join a rebate service such as Prenfx when opening a trading account. The spreads that the trader pays to the broker will be partially returned to the trader.
Then how does Prenfx as a rebate service pay you? As an ib from a partner broker, we receive a commission from every trade made by traders under our ib group network, the commission which will be partially returned to the trader according to the rebate rate we offer according to the rebate terms and conditions at each partner broker .
Example of Rebate Calculation:
- Clients trade in a month is 50 lots
- The rebate offered by Prenfx is $8 per standard lot,
so the client’s rebate is 8 x 50 = $400
In accordance with the rebate calculation example above, USD $400 is the amount of rebates that will be received by the trader, whether it is a loss or profit transaction. This rebate will be received by the trader if the trader’s trading account is under our ib network.
This is the benefit you get if a trader joins the forex rebate (cashback) service, the forex rebate is an additional income if the trader is trading in a profit, but will reduce losses if the trader is trading at a loss.
Well, that was information about forex rebates which will certainly be useful for those of you who are still not using rebate services in your forex trading activities. If you are interested in using our cashback service, please contact our customer support.