I read on another forum where a trader asked about rebates, and another trader replied that there is no such thing. I was surprised. This is to inform all new trades to take advantage of rebates.
When you register with a rebate website, you will get paid for every single trade you make with your broker. It does not matter whether you make profit on the trade or not. You’ll still receive a commission for that trade.
In forex, sometimes you lose money. Why not use this to cover some of your loses? It is a win-win situation for you. All you have to do is register with a rebate company and link your account number to them. They will pay you, weekly or monthly.
Beware!!
Beware of rebate companies that widens spreads for you. Such companies will tell the broker to widen your spreads in order for them to make more profit. So be careful.
I personally use one rebate website forex4rebate.com. They do not widen spreads. You trade normally like everyone else and get paid every week.
So, before registering a new account with any broker, go through a rebate website in order to get paid for your trades and cover your loses.
This information is for new traders who have not started using rebate services.