When you enter the world of online forex you will find brokers who give rebates to their clients, maybe many still don’t know about rebates and the rebate calculation system from brokers to clients. But for those who have been in online forex for a long time, of course they are already familiar.
Definition of rebates
Rebates are returns on spreads or commissions when making open position transactions, rebates are calculated from the total lot closed transactions. Each broker has its own rebate calculation.
How does the rebate process reach traders?
Rebates start from transactions made by traders, from the spread paid by traders will go to the Forex Broker, then from the Forex Broker it will be paid to the IB Broker Forex Rebate in the form of a commission, of which 20% of the commission goes to the IB and 80% will be paid to traders.
When will the rebate be sent?
Rebates will be sent to the client’s trading account automatically. There are several daily and weekly rebate brokers, depending on the system of each broker.
Requirements for getting rebates
There are several brokers that provide conditions for closing positions in pips and minutes. Here’s the list below:
- Firewoodfx -> There is no position closing requirement
- XM -> There is no requirement to close a position
- Forexmart -> Terms of position close 3 minutes
- Exness -> There is no requirement to close a position
- Justmarkets -> Terms of closing 5.9 pips
- FBS -> Requirement to close position 5.9 pips
- Weltrade -> Requirements to close positions above 3 pips and each pair is different.
Note: If the closed position does not meet the conditions suggested by the broker, then the rebate will not be sent.
Best Regards,
Rebatepip.com