Trading is a demanding job that requires you to be attentive, involved, and on point at all times. Unfortunately, some people may lose money or make less than they deserve even when they can readily demonstrate any of the listed qualities. Forex Cashback is an excellent feature for those who want to maximize their profits.
Gainful trading is all about getting every little thing you can to make more money in the long run. Even the smallest gains accumulate to create a massive advantage by the end of the year if you trade smartly. These small rebates and bonuses are even more noticeable to day traders who may open and close hundreds of deals within a single day. In such cases, small gains pile up quickly and make a huge difference.
What is a rebate?
Forex rebate is often called spread cashback. As the name suggests, the broker returns a portion of the commission or spread back to the trader. Note that some brokers have special programs aimed at retaining active traders by offering them improved trading conditions and cashback. However, one of the most efficient programs out there is Traders Union’s Forex Rebate program.
Traders Union creates partnerships with brokers to ensure that both traders and brokers receive benefits.
To fully understand what a rebate is, one must know how most brokers make money. A broker acts as an intermediate between traders and the financial market. Whenever an order from a trader is executed, a broker takes a small fee which we call the spread or commission. Spreads are tiny portions of any order but they accumulate to form a hefty sum of money over several days of active trading.
Some traders don’t make money on profitable orders due to high commissions. Some brokers return some of the money taken as commission directly to the balance of the trader. On the other hand, some brokers enter special unions such as Traders Union and participate in specialized rebate programs.
Rebates may be based on the percentage of commissions and spread effectively reducing the cost of each deal or fixed. Depending on the size of your average deal, you may find one option more beneficial than the other. Rebates can be paid out daily, weekly, or monthly. It depends mostly on your trading style.
The overall process can be summarized as such:
- You start trading and pay to a broker;
- Each transaction that you perform will be accounted for;
- Traders Union receives a special reward for each such transaction;
- This reward is partially used to cover the commission that you pay to your broker.
Note that this is specifically referring to the situation when you use the affiliate link provided by Traders Union.
How to get a rebate?
To receive your very own Forex cashback, you need to perform several actions. The process is simple and won’t take much time:
- Create an account at Traders Union and register in the Rebate service.
- Choose one or even several brokers and register on their websites;
- Add your newly created account to the special panel on the Traders Union account page;
- Start trading and enjoy your rebates.
One of the best features of this particular program is that you can get up to 100% of the spread back. The cashback is calculated and added to your balance automatically. For each performed action, you will receive a hefty cashback effectively increasing your profits in the long run.
Regardless of whether you are actively trading and opening dozens of orders every day or you make occasional deals on Forex, you will benefit from participating in the Forex Rebate program by Traders Union.
Another important feature to consider is that you can have compensation for several accounts. The cashback system is not linked to a single account.
The last thing about this program is that you need to carefully read the terms and conditions concerning rebates. When you think that you didn’t receive a rightfully deserved cashback, the issue may be related to very specific requirements that you didn’t meet. On the other hand, you can contact the support team of Traders Union and inquire about any issues related to the Forex Cashback system.