ECN Forex Brokers - How to get monthly cash rebates
ECN forex brokers, are forex brokers that, in contrast to retail forex broker, do not trade against you. Instead, they act like an interbank broker by consolidating bank quotes and providing you with the best bid available. Spreads tend to be tighter and more predictable. Instead of trading against you like retail brokers, ECN forex brokers charge commissions, which is a slight downside. However, it is possible to get substantial cashback on your turnover when using an ECN forex broker. The answer is a service called cashbackforex.
Consider the following calculation example:
Assume that you open an account with an ECN forex broker. Furthermore, take one of the more conservative discounts of 0.6 pip per roundtrip lot traded available on cashback forex. One pip equals about $10 on average if you trade EURUSD, EURCHF and EURGBP. Let's say that you deposit $2000 on the account. Our estimate is that you will turn over about 10-15 Lots per $1000 per month on your account when using FAPTurbo and Megadroid. Assume that your turnover is 24 lots per month on your $2000 account.
Your monthly cashback during the first month would then be:
0.6 x 10 x 24 = USD 144
Your annual ROI would then be (144x12/2000) about 86% per year.
This is a very conservative figure since it does not take any compounding at all into regard and assumes zero growth from expert advisors. Assuming a monthly growth rate of 20% you could make $4500 per year from this program only.
It is 100% free to sign up and your spreads or commission remains the same after joining this program so there is really no reason why not to join. It is simply just money waiting to be collected by you!
There are several ECN Forex Brokers connected to Cashback Forex. In addition you can also claim a cashback from the following brokers (some retail): Alpari UK, Avafx, Dukascopy, Etoro, FXCBS, FXCM, FXDD, Fxopen, Fx Pro, GallantFX, Go Markets, Liteforex, Marketiva, Tadawul FX, X Forex If you are a forex trader, sign up for this program today and start to take advantage of the cashback system and get some money back from the ECN Forex Brokers.
|
Linear Mode
