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Advantages vs Disadvantages for Forex Cashback

If you are really concerned about your profit on the forex market you should definitely use one of the mayor forex rebate providers. Forex rebates are extremely effective way to boost your profit, because you can get real cashback on every trade you make, no matter you win or lose. If used right, forex cashback could boost your annual profit by 50% depending on the frequency of trades.

Advantages of Forex Rebate

Disadvantages of Forex Rebate

Of course, if you follow all the basic rules and don’t let cashback really affect your forex trading, forex rebate is a highly recommended cost saving method for you. Here are some advantages of using forex rebates:

However, forex cashback could affect your trading behaviour in a negative way which you have to be aware before starting to use forex rebates. Here are some common pitfalls worth paying attention to:

1. You are rewarded every time you make a trade. No matter you win or lose, you get rebates. If you are a day trader, which is common among forex traders, you possibly make numerous trades a day. As you pay commission to your broker, forex cashback is also credited to your FxRebate account daily/ weekly or monthly. 1. Don’t let forex rebates make you complacent. Even if you are making money on every trade, you need to pay attention to your trading profit and do not calculate with cashback. There are some exceptions where traders (for example scalpers with a lot of trades per day) could make a major part of all the profit from forex cashback, but generally it’s not the case. Don’t rely on forex cashback only, you need to concentrate on your trading first.
2. Forex cashback helps you trade more profitable. Even if you are on a bad run, losing lots of money, rebates will help you get some of your money back. According to our calculations, an average trader could trade 50% more profitable annually, with forex rebate (depending on the frequency of trades). 2. Don’t be reckless. Since you’re getting rebates on your trades, win or lose, you might go faster than you should, you might take risks that you wouldn’t take. Take your time and always consider the risk / reward ratio without cashback.
3. Although forex cashback is generally for new accounts you can still get for existing account at several brokers. So, if you have already signed up for a forex broker, you might get cashback for existing account, or you can create a new account at the same, or some other broker. 3. Although you receive cashback you always need to develop yourself as a trader. Always follow the latest trends and trading techniques. Don’t forget that learning forex is a never ending road, on which you always need to evolve
4. You might get some great promotions with signing up for a broker. This can boost your forex rebates a lot. Plus, there is a affiliate program which you should consider if you would like to earn more. 4. Pay attention to good money management. Forex trading is all about handling money in a good way. To make it impossible to lose all your money on a bad series of trades you need to be very conscious about money management.
5. Apart from getting rebates is free, the more you trade, the higher your rebates get by negotiating a private deal.  5. Last but not least, do not trade only because of forex cashback. Always consider the right time to go into market and to get out and do not let forex rebate be a factor in your decision.

To sum up, forex rebates are for everybody and they are a must for a serious forex trader. It is free and secure without any risks. If you got interested in forex rebates you are in a good place. Open an account and start getting probably the highest rebates on the market.