Russia-based Alpari, the largest forex broker in its native country in terms of both active accounts and trading volume, said on Wednesday it has distributed more than $2.36 million to clients worldwide through its cashback loyalty program. Hundreds of thousands of traders across the globe have benefited from Alpari’s loyalty program since its launch less than 500 days ago.
The broker said it will make available loyalty programs to binary options traders in the near future. Investors will be able to receive bonus points for trading in binaries.
“During the time the program has been running, clients have been provided with over 93,000 different discounts and almost 15,000 requests for points to be exchanged for cash have been fulfilled,”said Alpari CEO Boris Shilov.
The cashback loyalty program has been used from more than one million Alpari clients from 150 countries. Alpari’s clienta who partake in the broker’s loyalty program can receive cash back on their accounts, lessen their expenditures on spreads and negative swaps, transfer funds without commission, and exchange bonus points for cash, among others. The most popular discounts to date have been: spread compensation; ECN account commission compensation; and negative swap compensation.
Those who have benefited from spread compensation discounts alone have saved $654,760 since the launch of the loyalty program. This type of compensation has been activated 31,296 times so far. Meanwhile, traders who exchanged bonus points for cash have received over $146,000, although this option has been around for just six months.
Forex brokers often conduct attractive loyalty programs to encourage investors to be more active. Some websites are specialized in providing various forex cashback offers with a wide range of brokers. Such are PayBackFX.com, CashBackForex.com, ForexCashbackRebate.com, www.ForexBrokerCashback.com, www.hftgroupfx.com, and www.FXRebateGurus.com.
Alpari offers trading in forex, metals, contracts for difference (CFDs), and binary options. It was the largest forex broker in Russia in terms of both active accounts volumes with an average monthly value of $90 billion in 2015.
The brokerage house has offices in Russia, Saint Vincent and the Grenadines, Mauritius, and the UAE.It includes companies registered with and regulated by the relevant authorities in Belize and Mauritius. It has also applied through Alpari Forex for a license in Russia. The broker is a member of the Russian self-regulatory organization Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) and external dispute resolution (EDR) organization Financial Commission (FinaCom).