Last updated on August 16, 2023
If you’re new to online trading and still wondering “What are Forex rebates?” or unsure of the Forex rebates meaning, then you’ve come to the right place. Thoughts.money will answer that — and much more — in this article (make sure you read till the very end).
What you'll learn:
⓵ What are Forex rebates?
Put simply, FX rebates allow you — and every trader around the world — to:
- Decrease your trading costs
- Reduce your spread
- Maximize your winning chances
- Create an extra source of income
If you haven’t heard of Forex rebates yet, or you are still unsure how to add them to your arsenal, then keep reading.
⓶ How do Forex and Crypto rebates work?
Here’s a quick example. Let’s say you are trading with one of the best Forex brokers recommended here at thoughts.money, and your spread on a certain trading instrument is 3 pips. And our rebate program for that broker is 1 pip, then you automatically cut your spread by 33.3% (1/3=33.3%).
So not only have you managed to reduce your spread, but you have now increased your chances of winning that trade. Because you now only need your position to move 2 pips in your preferred direction — instead of 3 — in order to become profitable.
In addition, you can use the rebate program to earn extra cash by offering your rebate link to other traders. So, every time they trade, the broker shares with you a small amount of the revenue. Easy, right?
⓷ Why join a Forex rebate program?
Here at thoughts.money we work hard — so you don’t have to. We review 100s of Forex rebates brokers, perform a meticulous Forex rebate comparison, and then we recommend only the best Forex cash rebates. Here’s why you should join one of the highest Forex rebates programs:
- Earn extra cash
- Improved protection
- Reduced transaction costs
With Forex broker rebates, traders and investors — of all levels — can instantly improve their trades and take their trading to the next level.
⓸ Calculate your potential cashback rebates
Every brokers has their own calculator that includes the deposit currency, rebate per lot, pip size, and lots traded. So you know exactly how much you can earn.
❖ What is a Forex rebate calculator?
A Forex rebates calculator allows you — and potential traders — to estimate the extra cash you could get depending on:
- The instrument you are trading
- Your deposit currency
- The rebate per lot
- And the number of lots traded
A Forex lot size calculator is an easy and quick way to see in real-time what a Forex rebate program can do for you if you are looking for simple ways to increase your income through Forex rebates.
❖ How to use the FX rebate calculator?
Using a Forex cashback calculator is straightforward. You simply select the instrument, deposit currency, and rebate per lot from the drop-down menu found in our cashback Forex calculator.
Then you fill out the “lots traded” box and click (or tap) the “calculate” button. The cashback Forex profit calculator will automatically display the amount you’ll receive in your preferred currency.
⓹ Are Forex rebates a scam?
Many beginner traders are not aware of Forex cashback programs. And they miss out on the rebates Forex trading can offer. However, you should only choose reliable providers as your Forex cashback rebate partner.
Scammers are everywhere, especially in the industry we operate in. This is why thoughts.money partners only with trusted and regulated FX brokers. To protect all our readers, we never recommend unregulated and unreliable brokerages.
When done right, you’ll be able to get Forex cashback without any hassle. Using FX rebates is a legal — and efficient — way for traders to improve their trading by minimizing their costs and maximizing their returns.
There are dishonest providers that mark up the spread to traders they refer. Thus, defeating the purpose of the service provided. Meaning that such providers will soon be out of business since traders will eventually notice the higher cost compared to legitimate rebate providers.
Trusted rebate providers earn a small revenue through the spread offered to traders. This is the broker’s way of saying thank you to all the providers who help them grow their customer base.
⓺ What is the best FX rebate program?
Here at thoughts.money we go through every cashback Forex review, so you don’t have to. We want to be the best and largest rebate provider around the globe. There are many competitors out there and our value proposition is to always offer 100% unbiased and objective reviews.
We understand that to be an established global rebate provider and surge in popularity we need to adhere to our lifelong mission — to help traders and investors make well-informed decisions.
And we do that by presenting the facts as they are. We never alter our opinions or suggestions no matter the compensation we receive from our partners. Thoughts.money was built by traders, for traders. And we plan to keep on improving and staying ahead of the competition.
⓻ Do Forex rebates increase my trading conditions?
Finding the best Forex cashback program will do wonders to your trading. You’ll be able to enjoy optimal trading conditions by having access to tighter spreads.
And this will increase your chances of winning — since your trades will need to move a lot less in your preferred direction — and boost your overall trading experience as well.
❖ How can I earn even more cash?
If you are searching for ways to get Forex money back, then FX rebates is a great way to create another stream of income. You can share your Forex rebates link with other traders and whenever they place a trade you get to keep a small part of the revenue (spread).
This makes Forex rebates a great way not only to improve your chances of winning your own trades but also help other traders succeed while earning extra cash.
⓼ Are there any other benefits to working with a Forex rebate provider?
Working with a rebate broker can help you get your money back. Forex relationships are of the utmost importance here at thoughts.money. We have helped traders on numerous occasions to successfully resolve client withdrawal issues.
Because of the healthy relationships we maintain with the top FX brokers around the world, it’s easier and faster for us to help you with any potential issues you may have rather than having to solve them on your own.
⓽ How are Forex rebates paid?
A legitimate cash back Forex broker will always pay out on time through several payment options. Here are the most common FX rebate options:
|Monthly cashback||Payouts are sent automatically depending on the volume for that particular month|
|Spread or commission reduction||Spreads or commissions are reduced by your chosen broker|
|Paid directly to your brokerage account||Cashbacks are credited directly to your brokerage account once the trades are closed|
Depending on the FX broker, cashbacks can be made through bank/wire transfer, eWallet (Neteller, Skrill), and Credit/Debit card.
Forex rebates are gaining popularity and an increasing number of traders sign up through a Forex rebate provider. However, we always advise readers to do their own due diligence and only sign up with trusted and legitimate providers for an optimal trading experience.