Get the Highest Forex Rebates from Brokers . (Rebate Table will be updated soon )Forex rebates are service offered by some Forex trading brokers that allows traders to get cash back on their trades. It is a bit like the programs offered by some credit cards, where you spend such amount of dollars and get some of your money back, except that with Forex Trading Rebates, the cash back is based on the volume of trading you do.
In order to attract more clients, many brokers will offer these Forex trading rebates, as well as other products and incentives to encourage their clients to trade with them as well as encouraging them to trade more volume.
The rebate will be automatically added to your account when you have reached a predetermined number of lots traded. The actual reward amount will vary from broker to broker, but is generally structured around 50 lots= $2, 100 lots=$3 and so on.
You may have seen sites that offer Forex Broker Rebates if you sign up with them. Before actually using one of these sites for your broker, you should be aware that these sites are paid commissions for their services by the brokers and many of the brokers recompense their commissions by raising the spread, which makes it so you may even be losing money for that rebate.
When you choose a Forex broker, you should be sure the broker has your best interest in mind and are reputable. Most Forex Rebates web sites are not interested in whether the Broker is legit or if the broker raises the pip spread 2 points higher in order to recompense for any rebates and commissions.
It is simply inadvisable to use these types of sites to find a good broker, as many legitimate brokers are already offering rebates and it just takes a little research to find the best brokers that offer the best rebates, by using a site such as this one to find the best Forex Brokers, then checking each broker to see if they have a rebate program.
If you already have a great broker you may be unaware that they already offer Forex Trading Rebates. The best way to determine if your Forex broker offers a Forex Rebate is by checking out their site, it will usually be listed on their website, but sometimes you have to do some digging to find it. If your Forex Broker’s website has a promotions link, it’s probably somewhere on that page. It also might be found in the FAQ page.
If you don’t see any sort of Forex rebate on your broker’s site, you can also try to email them and ask them if they offer one or plan to offer one in the future. They may offer some sort of rebate for certain traders with higher than normal activity or they may simply not have it incorporated into their site yet, but either way, they should be more than happy to work with you and may even offer something better than a rebate, to earn you even more money.
The Foreign Exchange market is very active with Forex Brokers coming and going all the time and new brokers offering new incentives every day. What may seem like the best forex rebates program on one day, may fall short the next day compared to other offerings, so it’s really hard to determine what the actual best Forex Rebates are available.
Another thing to keep in mind is, just because a broker may be offering a higher rebate to you doesn’t necessarily mean that you will gaining the most profit from that broker. As mentioned previously, some brokers simply increase the spread in order to get more money to offer a higher rebate. What this basically means is that you are going to be paying more money in order to get that rebate. That doesn’t make sense, does it? This is why you should look at the whole picture before deciding on going with a broker just based on higher Forex Trading Rebates.
When selecting a broker that claims to offer the Best Forex Rebates, it is highly imperative that you do some research to find out whether or not the broker increases the spread in order to provide the rebate. You should also be sure the broker has a good track record with other traders. If they have blog, forum or Facebook page, you can gleam much about the broker’s customer satisfaction and gauge whether the Forex Rebates offered is genuine and worth it.
One way you can guarantee to find the best Forex Rebates is by finding the best brokers. Sometimes it’s good to look at established brokers, but some new and upcoming brokers will offer better than average rebates in order to get themselves “in the door”, so it’s not always a bad idea to look at newer brokers as well as established brokers. The downside to going with a newer Forex Broker offering Forex Rebates is that there is little track record and it’s harder to gauge their legitimacy.
On the other hand, a good review site (or a search on several review sites, if time permits) can often land some new upcoming brokers offering excellent Forex Trading Rebates to its new clients, just to grow its client base. Just be sure that the reviewer has actually used the service and can say first hand on the legitimacy of the broker and the offerings.
If you’ve read this whole article then it’s probably become clear to you what some of the disadvantages may be, especially if you choose the wrong broker based solely on the Forex Trading Rebates being offered. You should also be aware by now that those Forex brokers offering the best forex rebates aren’t always the most profitable.
However, if you do find a great and reputable broker offering a good rebate, then of course the advantages should be obvious. Just as long as they don’t stretch the pips spread, then it is a win-win situation. You win, because you are getting cash back on your trades, whereas they win because you will make more trades in order to get the best forex rebate (in which case they will make more commission).
If you don’t plan on making a lot of trades, then there might not be much of an advantage to you, as Forex Brokers Rebates are based on volume of trading. The more you trade the better your rebate, just like the analogy of the credit card cash-back programs, if you spend a lot on their cards you get more money back, but if you hardly ever use the card, you may be spending more in interest rates than you are getting back in the incentive program.
With Forex Brokers, you should take into account all of the rewards programs, incentives and rebates offered by your broker and decide on the best avenue for your particular trading habits. If the Forex Brokers Rebate is offered instead of or in lieu of some other reward or incentive, then you need to weigh whether you will be making more with the rebate or with the other incentive. If you are an active trader, it’s often best to get on board with a good Forex rebate program, in lieu of one time bonus’s or incentives, as you will be making more money more often (usually paid once a month), over a longer period of time.
Just be sure to find a good Forex Broker, don’t be misled into using a site that offers Best Forex Rebates, as most of these could care less about how good the brokers they assign to you are. Don’t jump at what seems like a great Broker Rebate without making sure the broker is legitimate and has good reviews and ratings. If you keep all of this in mind, then you will find it’s not hard to get the best Forex Rebates with the best Forex Brokers, thus allowing you to get some free cash for trading or withdrawal while losing nothing, and who doesn’t want free cash?