PayBackFX, the recently launched rebate service for forex trading of Myfxbook, has added the TradeView Forex to its list of supported brokers.
This means that traders will get rebates, or cash back, for their trades with TradeView Forex through PayBackFX. Here are the conditions, offered by the rebate service for trades through the latest addition to the list:
TradeView Forex is registered on the Cayman Islands and is regulated by the local financial watchdog, the Cayman Islands Monetary Authority (CIMA). It offers trading in forex, CFDs, stocks, options, futures, indices, commodities and shares. The trading platforms are MetaTrader 4 and cTrader. The minimum deposit is $100 and the maximum leverage is 1:400.
The other brokers PayBackFX currently works with, are: ThinkForex, IC Markets, Sensus Capital, Pepperstone, Tickmill and MaxFX.
According to the model, PayBackFX will get a fee from the broker for each order placed through it and will pay part or all of it to the trader who used it as an incentive. Usually the gain from the scheme for the trader is defined by the rebate rate of the broker.
Upon its launch in the middle of February 2016, PayBackFX promised to hand out $1 million, or $10 per each of the first 100 000 trader accounts, registered on its platform. As of March 2, the counter on its website shows that there are $995 520 left in the bonus fund. This means that in the two weeks since its launch, the newest rebate service has attracted 448 trader accounts.
Other forex rebate websites include CashBackForex, ForexCashbackRebate, Forexbrokercashback, Hftgroupfx and Fxrebategurus.