Today I’m reviewing the long-standing Forex rebate program, that gives you a little money back on every single trade that you take, CashBackForex. This is one of the most well-known rebate programs available, and for good reason as they promise to “beat any competitor rates.” They are currently offering discounts and cash back for 40 different brokers, with some of the most popular Forex brokers in the marketplace.
The developers of this service don’t specifically tell us where they are located, but there information and help desk services are using in Ireland phone number, so that’s the most likely location. Traders can get in touch with support, during their business hours between Sunday 17:00 and Friday 17:00, NY Time. They provide live chat during all business hours, Skype chat and email via email@example.com. They can also be contacted via phone, +353 21 242 8190.
The entire purpose of the Cash Back Forex service, is to give traders a break on the commission they are paying on every single trade. CBF has an affiliate relationship with each of these brokers, which allows them to take a small profit off of each trade that you take. Instead of taking the full profit, their services built to give some of this money back to you as an incentive for you to sign up with their services.
There really doesn’t seem to be much of a downside when using a rebate program in general. You’re essentially getting a small amount of money back, that you never would have seen in any other circumstance. Rebate programs like these are also compatible with Forex robots, so that’s no issue either.
Depending on the type of account you sign up with, you will have access to different types of rebates. Some brokers will provide a percentage of the overall broker revenue, while the majority of them will pay you per “round turn lot.” For example, if you sign up for a Micro account with XM, you would have access to “5.5/round turn lot.” What this means, is that every time you trade an entire lot, you get $5.50, in cash back. Obviously, with a micro account, it would take a lot of trades in order to get this rebate, but the same rebate is available for their standard account as well.
One of the main reasons Cash Back Forex is as popular as they are, is because they work with some of the most reputable Forex brokers in the market. With their growth in client base, they’ve been able to arrange some of the best rebates available. If you don’t see the broker that you want to utilize on this list, you can also take a look at the rebates available by Myfxbook’s PaybackFX program.
- BLACKWELL GLOBAL UK
- FIDELIS CAPITAL MARKETS
- FRIEDBERG DIRECT
- FXCM UK
- FXDD MALTA
- FXOPEN AU
- FXOPEN UK
- FXPRIMUS VU
- FXPRO/FXPRO UK
- GLOBAL PRIME
- IC MARKETS
- LITEFOREX EU
- OANDA AU
- SYNERGY FX
- THINKMARKETS AU/THINKMARKETS UK
- TICKMILL UK
- VIPRO MARKETS
- FOREX.COM USA
- OANDA USA
The majority of the client feedback for the Cash Back Forex servicve is very positive. One of the most recent reviews is negative, but with over 80 positive reviews, it’s very difficult for me to trust the one bad apple.
Most traders that are utilizing this rebate program are very happy with the service, support staff and overall quality
There is really not much else to say, about the Cash Back Forex service. If you are looking for a way to save money while trading, then you should look further at rebate programs. I don’t want to come across as a hypocrite, so I will be honest and tell you that I am not using a rebate program currently, but I don’t see any reason why I won’t be signing up with one in the near future. Any service that is willing to give you money for doing exactly what you are doing, is a plus.
If you are using a rebate program, whether it’s this one, or another, I would love to hear from you. I would like to hear why you believe rebate programs are worthwhile, and which ones we should be signing up with. Thank you for reading my review, and please let me know if you have any questions or concerns below the article now.
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