CashBack Forex is arguably one of the biggest and most popular companies that offer forex rebates, with approximately 14,000 registered members. They have been around for a few years now, but it is only recently that they have established themselves as a market leader in this area.
Cashback Forex is a pretty fantastic idea for Forex traders looking to get back some of the hard earned money they gift away to brokers. Forex rebates are basically a way of getting some cash back on every single trade you place, regardless of whether you win or lose.
The way it works is that the forex rebates company has working relationships with many of the major forex brokers, and are therefore able to offer you rebates on every trade that you place (and receive a commission themselves) in return for sending the brokers customers.
All you need to do is to open a free account with Cash Back Forex and choose from one of the many different forex brokers that they work with. Then, you will automatically receive cash back on every single trade you make, which can be quite a tidy sum if you are a regular trader.
If you are already signed up with one of the brokers listed on their site, you can still sign up for their rebate program, even if you didn’t originally sign up with the broker through them.
If you don’t think you can benefit from this service, do yourself a favor and take a look at some of the brokers they work with:
Gallant Capital Markets
If any of these look familiar, know that you are in a position to lower your trading costs IMMEDIATELY!
So the point is that in order to trade you will need to sign up with a broker anyway. Why not sign up with a broker that will give you the added benefit of earning cash back on the trades you make. The spreads with Cashback Forex are still exactly the same (which is not always the case with other rebate companies) and you can earn some extra cash every time you trade the forex markets. Therefore even if you only break-even with your forex trading you can still come out ahead. In addition, if you are someone who places several trades every single day or trades quite a few lots at any one time, then you stand to earn quite a bit of money through forex rebates.