Online forex broker Vantage FX has joined as a member forex rebate website PayBackFX, the rebate service provider said on Sunday. Clients of the broker can get 0.3pipos or $0.75 per round-turn lot if they use Stadard STP or RAW ECN trading accounts, respectively.
Sydney-based Vanatage FX is a brand of Vantage Global Prime Pty, which is regulated by the Australian Securities and Investments Commission (ASIC). The broker offers trading in forex, indices and commodities and the minimum required deposit starts from AU$100 or its equivalent in another currency.
PayBackFX offers rebates, or cash back, to traders for each order they make with any of its partner brokers, which now total 22. 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 the choice of broker, trading account and instrument. The rebates currently vary 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, which was launched mid-February 2016, js 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.
The website has partnered with other forex brokers, as well – Exness, GBE Brokers, FXOpen, Vinson Financials, NoaFX, XM, FxGrow, Solidary Markets FX, FXPrimus, AxiTrader, FIBO Group, Oanda Europe, Fidelis Capital Markets Cyprus, GKFX, MaxFX, Tickmill, TradeView Forex, Pepperstone, ThinkForex, IC Markets., and Mayzus.
Other forex rebate websites are CashBackForex.com, ForexCashbackRebate.com, www.forexbrokercashback.com, www.hftgroupfx.com, and www.fxrebategurus.com.