If you open a forex broker account through Cashbackcloud, the brokers pay a part of their spreads and commissions to them on every trade you make. They share the most of this revenue with you, paying you forex rebate on each trade. Your spreads and trading conditions remain the same as if you had opened an account directly with the broker. However, if you are a Cashbackcloud client you earn a guaranteed cash on every trade.
Why you should use forex rebate?
If you are really concerned about your profit on the forex market you should definitely use one of the mayor forex rebate providers. Forex rebates are extremely effective way to boost your profit, because you can get real cashback on every trade you make, no matter you win or lose. If used right, forex cashback could boost your annual profit by 30% depending on the frequency of trades.
For an example you can earn cashback up to $8,5/lot at XM from cashbackloud what is the highest rate on the market
A very important part of using cashback is to never let it to make you complacent. Even if you are making money on every trade, you need to pay attention to your trading profit and do not calculate with cashback. There are some exceptions where traders (for example scalpers with a lot of trades per day) could make a major part of all the profit from forex cashback, but generally it’s not the case. Don’t rely on forex cashback only, you need to concentrate on your trading first.
Don’t be reckless. Since you’re getting rebates on your trades, win or lose, you might go faster than you should, you might take risks that you wouldn’t take. Take your time and always consider the risk / reward ratio without cashback.
Of course, if you follow all the basic rules and don’t let cashback really affect your forex trading, forex rebate is a highly recommended cost saving method for you. Here are some advantages of using forex rebates.
- You are rewarded every time you make a trade – no matter you win or lose, you get rebates. If you are a daytrader, which is fairly common among forex traders, you possibly make numerous trades a day. As you pay commission to your broker, forex cashback is also credited to your cashback account immediately.
- Forex rebate helps you trade more profitable – Even if you are on a bad run, losing lots of money, rebates will help you get some of your money back. According to our calculations, an average trader could trade 30% more profitable annually, with forex rebate. (depending on the frequency of trades)
- Although forex cashback is generally for new accounts you can still get for existing account at several brokers. So, if you have already signed up for a forex broker, you might get cashback for an existing account, or you can create a new account at the same, or some other broker.
- At Cashbackcloud you get a forex referral program where you can earn money after your invited traders cashback.
- Last but not least, do not trade only because of forex rebate. Always consider the right time to go into market and to get out. Do not let forex rebate be a factor in your decision.
However, forex cashback could affect your trading behaviour in a negative way. So you have to be aware before starting to use forex rebates. Here are some common pitfalls worth paying attention to.
- Don’t let forex rebates make you complacent. Even if you are making money on every trade, you need to pay attention to your trading profit. Do not calculate with cashback. There are some exceptions for traders who could make a major part of all the profit from forex cashback. But generally, it’s not the case. Don’t rely on forex cashback only, you need to concentrate on your trading first.
- Don’t be reckless. Since you’re getting rebates on your trades, win or lose, you might go faster than you should, you might take risks that you wouldn’t take. Take your time and always consider the risk / reward ratio without cashback.
- Although you receive cashback you always need to develop yourself as a trader. Always follow the latest trends and trading techniques. Don’t forget that learning forex is a never ending road, on which you always need to evolve.
Over this, Cashbackcloud is offer you cashback at IQ Option and binary option trading.
To sum up, forex rebates are for everybody and they are a definite must for a serious forex trader. It’s free and absolutely secure without any risks. If you got interested in forex rebates you should definitely check Cashbackcloud. They are on the market for at least 6 year and they already paid around $2,000,000 cashback to their traders, so that’s why i think they are the most reliable cashback provider on the market.