PayBackFX, a forex rebate service provider, said on Wednesday it has partnered with forex brokers Vinson Financials and NoaFX. The brokers’ clients can take advantage of the company’s rebate system for each trade they make.
NoaFX’s clients will receive a fixed amount of $4.5 for each round-turn lot they complete.
Clients of Vinson Financials, on the other hand, will be pay different amounts, depending on the instruments they trade. For forex, investors will receive between $3.75 and $11.25 for each round-turn lot. More details can be viewed on this link.
PayBackFX offers rebates, or cash back, to traders for each trade they make with any of its partner brokers. Investors receive cash for each trade, regardless whether it is a winning one or not. The service provider received from broker-partners a pre-determined commission, part of which it later re-directs to traders, so that they have an incentive to use the service. The amounts received differ, depending on their choice of broker, trading account and instrument. The rebates currently range from fixed amounts in currencies, to pips, to percentage of spreads or commissions.
PayBackFX allows traders to take part in the rebate program either if they connect an existing account with a broker-partner or if they open a new one via www.paybackfx.com. Traders still use the same trading conditions their broker offers as they would even if they don’t use the cash back service.
The PayBackFX rebate service is accessible from desktop and mobile devices. Since its launch, the web site has been systematically expanding its supported brokers list, reaching 17 with the latest two additions. Just this month, eight other brokers have joined PayBackFX – XM, FxGrow, Solidary Markets FX, FXPrimus, AxiTrader, Fidelis Capital Markets Cyprus, Oanda Europe, and Fibo Group. The other brokers that take part in the program are Sensus Capital, ThinkForex, MaxFX, Tickmill, Pepperstone, IC Markets, and TradeView Forex.
PayBackFX was launched in mid-February 2016 by Myfxbook, aUK forex analytical tools provider. Myfxbook represents a social forex community and an online automated analytical tool for forex trading that 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 are CashBackForex.com, ForexCashbackRebate.com, www.forexbrokercashback.com, www.hftgroupfx.com, and www.fxrebategurus.com.
Vinson Financials offers trading in forex, metals, and contracts for difference (CFDs). It is registered and regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC). This allows it to operate on all EU markets.
Meanwhile, NoaFX is a non-regulated broker of forex and CFDs. It is a brand of Capital Market Investments Limited (CMI). Keep in mind that in most countries brokers that operate without authorization may be violating the local regulations and that your funds could be at higher risk.