Myfxbook, a UK forex analytical tools provider, said on Monday it has launched PayBackFX, a new rebate service for forex trading.
A rebate service means that traders will get get rebates, or cash back, for their trades with a select broker. The service supports six brokers – ThinkForex, IC Markets, Sensus Capital, Pepperstone, Tickmill, and MaxFX. However, soon others are expected to join them.
Myfxbook, as a rebate service provider, will get a pre-determined fee from brokers for each order executed via the PayBackFX website, www.paybackfx.com. They re-direct all or part of this amount to traders, so that they have an incentive to use the service.
Here are some of the highlighted features of Myfxbook’s rebate service:
- The reporting is completely real-time! That’s right, no need to wait 30-45 days just to see your profit.
- Completely transparent service, giving you complete reports on each and every rebate you are paid.
- We cover all withdrawal fees when withdrawing to your PayPal account – what you see in your account is what you get.
- The user interface is as simple as it gets – connect your account by simply completing a form.
- Highest rebate rates.
- Great support.
- Responsive platform which can be accessed from any of your devices.
As part of the promotional campaign, Myfxbook will give out $1 million in bonuses for the first 100,000 connected accounts. Traders will receive a $10 bonus for each account they connect.
The new service will be a good addition to the rest of the web-based services and products that Myfxbook offers – automated trading, charting, and system analysis.
MyFxBook is a social forex community and an online automated analytical tool for forex trading. It supports over 100 brokers and the trading platforms cTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5), fxTrade/fxTrade Practice, FXCM Trading Station and Strategy Trader.
Other forex rebate websites include CashBackForex.com, ForexCashbackRebate.com, www.forexbrokercashback.com, www.hftgroupfx.com, and www.fxrebategurus.com.