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Russia-based Alpari, the largest forex broker in its native country in terms of both active accounts and trading volume, said on Thursday it has started offering cash back rewards for traders of binary options.
Investors who trade with Alpari in binary options can earn points, or Alps (ALP), which is the currency of their bonus accounts. They can exchange the Alps for cash, which they can either withdraw or invest. In addition, they can keep Alps in their bonus accounts and use them to buy discount packages and get refunds on spreads, deposit commissions, and others.
Bonus points can be earned even with basic activities, such as opening and funding an account, or trading.
Earlier this week, Alpari hinted it would add binary options trading to its cashback program. Prior to this, the program was available for forex trading only. The broker said at the time it had distributed more than $2.36 million to clients worldwide through its cashback loyalty program since its launch less than 500 days ago.
The cashback loyalty program has been used from more than one million Alpari clients from 150 countries so far. 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. 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).