Forex Rebates

Styex said:
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.
Click to expand...

Exactly, Styex. There obviously are IB's out there that are NFA (or FSA) regulated, don't have access to your account and are generally reputable.

TradersChoiceFX is a good one that fits all of those criteria.......
 
I signed up with [email protected] for FXPRO, he pays 8 USD per 100,000 traded. Write him an email and ask him which brokers he offers currently maybe he is not working with FXPRO any more I do not know....I know he stopped offering FXCM.

Alex does not have a nice website actually he does not have a website at all....but he pays out the most rebates I have found. I spent like 2 days researching IBs giving out rebates and among all I found that Alex pays out the most and the second best choice is cashbackforex Forex Rebates & CashBack

If anyone finds an IB that pays more rebates than Alex or cashbackforex let me know!
 
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Many thanks herringtrader, I have emailed him.
You still getting rebates on monthly basis?

Is there any drawbacks to these schemes?
 
I received rebates from Alex 2 times after my FXPRO trades than I stopped trading at FXPRO and moved to FXCM. I got rebates once so far after my FXCM trades.

I could not find any drawbacks so far....maybe the time commitment that it requires. You have to figure out which IB to use...it is a couple of days, then you have to check each month if you receive the amount that you are supposed to get..... it requires some time but other than that no drawbacks.



samuelhogg said:
Many thanks herringtrader, I have emailed him.
You still getting rebates on monthly basis?

Is there any drawbacks to these schemes?
Click to expand...
 
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does anyone know which rebates broker/provider is the most trusted one ? Im planning join a couple of forexbrokers, but with some rebates though rebate brokers... can anyone tell me which one is actually paying you back, and on time as well?
what about being paid through Paypal while the major broker itself doesnt allow Paypal as an option, can a rebate broker actually be in profit due transaction fees etc ?
 
I have two IBs Alex and Forex Rebates & CashBack
They both paid me in time every month so far.

If the clients complain a lot about an IB the broker will simply kick the IB out.
The brokers usually give out the info about how long a certain IB has been working for them. Ask this info from your broker....if the IB you are looking at has been working for the broker for like more then 6 months It would be good enough for me.
 
Styex said:
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.
Click to expand...

Yes, Steve you are right. Currently I am discussing terms with many brokers as an IB and can confirm, that IB never has direct acces to your funds, unless you fill Power of Attorney form to make the selected IB as your money manager.

IB does not have direct access to any's account, just IB gets reports every month about trading volume per every referred trader.

IB can not solicit US citizens, otherwise IB should have NFA license.

For UK market. I am dealing with some brokers that operates in UK and there were no requests from their side to be FSA regulated.

To conclude, IB should be regulated with its local Forex regulating authority.

As a individual trader I get rebates from some IBs, and it is good thing adding about 20% revenue more (because I can not get rebates from my own company).

From my side as an IB, who is offering rebates.

I require brokers, to whom I work as an IB, not to levy spreads, commissions or fees to the end trader. It stays the same as it would be if the trader registers directly at broker. So there is no problem to register and get rebates - you still would get the same trading conditions, just minimizing your costs.

If anyone has direct questions, please PM me or go to Rebates. Discounts. Cashback. - ForexTradingChoice.com
 
brendansvest said:
is this available in the UK?
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Our Forex Rebate service is available for all traders worldwide.

Just select the option how you would like to receive your rebates? If you do not prefer the available options, just contact us and we will discuss the way you would like to receive your Forex rebates.
 
Any one with these guys:

Cashbackforex

What is Cashbackforex?
Forex companies and brokers pay Cashbackforex a commission (similar to a finder's fee) on every sale, or every trade placed on a brokerage account opened through our links. We give you cash back at the highest rate in the industry, and because it is not a primary stream of revenue we will continue to increase our cash back rates should any other company raise theirs! In fact, we urge you to search the net and compare us to other companies!
 
badbud said:
I've been looking long time for some forex Rebate/cashback companies that provide good rebate if you open an account att FXpro.com. At last I found F1cashback.com. They offer $ 3 / lot of major, and much more on the other currency pairs.
But still wondering if anyone knows any other cashback companies that pay more?
Badbud
Click to expand...

Hi, Badbud,

FxPro is in our list of brokers with whom we will sign IB partnership contract. Just need some time to get in contact if IB manager. I will get back when I will now the details what ForexTradingChoice.com will be able to offer to you.

If you have any more question, please ask. I will get back to this thread.
 
I got answer from FxPro representative and I will be able to give back $3 per RT lot on the majors.

If anyone want to consider the custom solutions, please contact me through my website.
 
and what kind of rabates are to be discussed? if it's some kind of a bonus, e.g. extra 20$ jn your account, does that count? =)
 
Mikhail Tegin said:
and what kind of rabates are to be discussed? if it's some kind of a bonus, e.g. extra 20$ jn your account, does that count? =)
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Mikhail, extra bonus to your account is not available, unless from broker side (not from ours).

But if you are going to deposit 10 times more than the minimum required deposit or even more, or you are going to trade very intensively - the specific rebate level can be discussed or just the same rebate level with extra rebate after X lots have been traded.

Everything counts..
 
kakhuis said:
Any one with these guys:

Cashbackforex

What is Cashbackforex?
Forex companies and brokers pay Cashbackforex a commission (similar to a finder's fee) on every sale, or every trade placed on a brokerage account opened through our links. We give you cash back at the highest rate in the industry, and because it is not a primary stream of revenue we will continue to increase our cash back rates should any other company raise theirs! In fact, we urge you to search the net and compare us to other companies!
Click to expand...

OK what is the level of rebate.
 
Mikhail Tegin said:
brendansvest, you tgere are brokers who don't charge any comission =)
Click to expand...

There is 3 options how you pay broker:
you pay commissions on your trades
you pay the spread
you get tightened spread but pay additional commissions on your trades

On every of these options you can get rebate (of course, if broker allows IB to offer rebates for their referred traders).

So it is your option to get a rebate (or cashback, the same thing) or leave it to your broker.
 
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