Forex Rebates

A diligent trader has to know his/her benefits – apart from the mandatory technical and trading know-how – in order to make the most out of every trade, activity and situation. One such benefit that gives the best opportunities to profit and to learn is a Forex rebate.

What are Forex Rebates?

Forex Rebates, also called rebate pips, are a form of bonus offered by brokers to their traders.  It has the following characteristics:

  1. It puts the trader in the best position possible. It increases profits for winning trades and decreases losses for losing trades.
  1. It may be expressed as a specific dollar amount or a percentage of a certain amount.
  1. It requires activity or trade. It’s similar to the rebates given out by banks to encourage people to buy and use their debit or credit cards, i.e. buy $500 worth of products using your debit card and receive a 10% rebate.  You have to do something first, trade, in this case.
  1. It is a bonus related to trade, unlike a bonus one gets for referring a friend, etc.
  1. It’s more complicated than a bonus draw or a free cash bonus where you don’t have to do anything but to sign up and make an initial deposit.
  1. But, it is not as complicated as activity-based bonuses, where one gets additional funds only after meeting certain criteria, ex. making winning trades. A rebate can be received without regard to the outcome of the trade.

Works in winning and losing trades

Being able to put the trader in the best possible spot after every trade made – whatever happens – is the most important feature of Forex Rebates.  The following examples should be useful in illustrating the effects of rebates.

a – Winning trade, fixed rebate

Say, a trader trades $80 and the rebate is fixed at $30.  If he/she makes a good trade, he gets $110.

b – Winning trade, percentage rebate

If our trader trades $80, but the rebate this time is a 25% rebate, and he makes a winning trade, he gets $100 ($80 plus $20).

c – Losing trade, fixed rebate

For losing trades, rebates work like insurance: it gives the trader something in case of loss.  For example, if the trade in situation A above turns out to be non-profitable, he gets back $30 in the end.

d – Losing trade, percentage rebate

Using the same facts as situation B above, the trader gets to keep $20.  If the percentage rebate happens to be $100, the trader loses nothing at all.  This makes rebates an excellent learning tool for experimenting with a particular trading strategy – you get to try them risk-free.

How to enjoy the rebates

You have to check first if your chosen broker gives rebates.  Chances are, almost all, if not all, brokers give rebates.  Next thing, you have to register, open an account, and make an initial deposit with your broker.  This sets up your record or electronic wallet, as it is more popularly called, where your rebates will be credited.  After doing these simple steps, voila, you’re set to make your trades – just make sure to meet the requirements to get the rebates, such as completing round lot trades, etc.

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