FXOpen, an ASIC and FCA-regulated forex and CFD broker announced the launch of a cashback program for its clients.
The new program allows traders to receive and additional refund on trades, including losing trades. The cashback option is added automatically to the client’s Commission account. The sum is determined in accordance with the total margin used on all client’s trading accounts.
The Cashback Program is available during the first 90 days after becoming an FXOpen client. The minimum cashback is $5, the maximum is $1,000. The maximum cashback per trade is $100.
The cashback amount can reach up to 150% of standard commission per trade. The calculation and payment are fully automated and credited to the client’s commission account. The sum can be withdrawn or used for trading after crediting.
FXOpen notes that the standard commission (a percentage of the FXOpen commission) equals 2.4 pips (5-decimal pricing) per trade in an STP account and 15% of the commission for ECN and Crypto accounts.
The broker also provides a table that illustrates the cashback calculations on the standard commission of $15:
FXOpen offers forex and CFD trading, via ECN and STP accounts with different level of experience and investment. The broker requires a minimum deposit of $1 and offers a leverage of up to 1:500 on some accounts.