Hi everyone! I recently kitty read about a broker offering “rebates” and they claim to receive commissions from your broker and they then give rebates back to you provided you move their accounts under their name. Has anyone tried this? Does it really work? Does it really add to your account? I feel it is a bit of a dream come true if it’s real! Are there any problems encountered with this? This cat would love to know from experienced traders out there.
I’ve never heard of this.
I’m hearing this for the first time and it’s too good to be true so I’m kitty asking around first. I hope someone with kitty experience on this can enlighten us.
Dear Pussy cat
my broker is Ic Markets and i use paybackfx as my IB (introducing broker) …they pay rebate based on the lots you trade … conditions of your main broker stays untouched …so yes its real and it works fine
as conditions you need to make 100$ in earned rebates to make the first pay out after this first pay out you can withdrawl without limitation ( also less than 100$ )
no problems so far
I see. I will look them up. Thank youuu! This cat appreciates your feedback so much! I was a bit hesitant coz it was too good to be true and was kitty scared of getting scammed. Well, in this case i guess it is a pawesome program that helps traders like mee save up on transaction costs.
Duly noted. Thank you for sharing, dear hooman! Dis cat appreciates it!
feel free to google it for yourself …there are bad reviews good reviews like with every service… i only can say for me no problems so far
have a great kitty day
Yes they are real. IBs simply share their rewards from a broker with you. Typically FX brokers reward 10 bucks per one standard lot traded and IB shares some of this amount with you, like 5,6, 7 bucks. So you get fixed-commission rebate. For example I use cash backforex with Hotforex and Tickmill they typically return 70% of their commissions which is pretty high.
Pawesome! Do you have any idea if they pro-rate this? Say I dont meet the 1 standard lot requirement and do only maybe 10 microlots.
Of course, rebates amount is proportional to the volume traded. For example if you traded 0.01 lot, your IB will get 10 cents from that and will share 5-7 cents with you. The only problem is minimal amount to withdraw from IB, I guess its done to avoid “over requesting” of withdrawals from clients.
I see. I was thinkin they have a minimum trade value. So i guess I can accumulate the amount of rebates from microlot trades till I can withdraw em.
It’s real. I’ve used the rebate service from " Likerebateforex " more than 2 years.
It’s the best rebate service for me.
Thanks for the feedback, mate.
Forex rebate is not really something new. By using this system you get refunded, in parts, the spread or commission you have paid to your broker.
That’s so nice to hear. Such rebate offers seem quite interesting. Depending upon the volume traded, rebates will be given. I will definitely try this further.