Forex rebates website PayBackFX said on Friday it has expanded its supported forex brokers list with Exness and GBE Brokers. This are the third and fourth additions this week and the thirteenth and fourteenth in March.
Exness’ clients can receive cash back from PayBackFX for each trade they make in the amount of 30% of the spread if they use Mini or Classic trading accounts, or $0.75 for each round-turn lot.
GBE Brokers’ clients will receive back 0.165 pips per round turn lot executed with traditional spreads and $1.65 per round-turn lot with raw spreads.
The PayBackFX website was launched mid-February 2016 and has grown to 20 brokers in its portfolio. This week alone, the broker also added FXOpen and ACFX. Since the beginning of March, it has also included Vinson Financials, NoaFX, XM, FxGrow, Solidary Markets FX, FXPrimus, AxiTrader, FIBO Group, Fidelis Capital Markets Cyprus and Oanda Europe. Othe brokers that have partnered with the rebate service provider are MaxFX, Tickmill, TradeView Forex, Pepperstone, ThinkForex, IC Markets.
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 receives a pre-determined commission from broker-partners, 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.
PayBackFX is a project of 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.
Exness ‘ product portfolio includes more than 120 currency pairs traded via the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The broker holds a license issued by the Cyprus Securities and Exchange Commission (CySEC). The group companies are also registered with the relevant regulatory bodies in Germany, the Netherlands, Poland, Spain, Italy, and Sweden.
GBE Brokers is a broker of forex and contracts for difference (CFDs). It is also licensed by the CySEC.
Other forex rebate websites are CashBackForex.com, ForexCashbackRebate.com, www.forexbrokercashback.com, www.hftgroupfx.com, and www.fxrebategurus.com.