Many novice traders do not even suspect that starting trading on Forex can make it even more profitable. After all, what is the essence of currency exchange trading: buy cheaper and sell more expensive, but the spread (that is, the difference between the purchase and sale price of an asset) is the commission of a broker (dealing center). And on a partial return of the spread, traders can earn even more from the transaction.
- Important: some large brokers themselves offer a rebate service (partial spread return) on a paid basis. The trader opens a trading account, replenishes it and for a fixed monthly payment connects this option. This encourages the trader to conduct more transactions in order to “discourage” the cost of commission. However, this is not beneficial for those who work with long-term strategies, and the only way out for them is a rebate service.
An account with a rebate implies opening two personal accounts at the same time both at a broker and at a rebate service.
You can start by choosing a broker by asking his support team what kind of rebate service he works with. But agree, is it profitable for a broker? After all, the essence of rebate for a broker in attracting new customers, and it is the rebate service that is interested in offering you a reliable broker, and not vice versa! Consider how to open an account with a rebate using the example of the FxCash service.
The procedure for opening an account with a broker with rebate via FxCash
1. Opening an account with a rebate: registering an account with a rebate service
- register a personal account on the FxCash website, indicating the phone number and postal address. The username will be sent to you by e-mail after registering your account. When registering, indicate the real phone number – a confirmation code will be sent to it. Remember the password – you can only restore it using the support service;
- in your account (FxCash account), in the “Open Trading Account” section, select the broker you need. For convenience, brokers are divided into subgroups: Forex brokers, stock brokers and binary options brokers.
2. Opening a trading account with a broker and his garter in your FxCash account
- Open a trading account with a broker by going to his website via an affiliate link of the FxCash service. Clicking on the link, you automatically go to the broker’s website, where you provide information about yourself (phone, email, etc.). Important!!! The phone number, personal data and email address must match the ones specified when opening your FxCash account;
- Please note that in the registration form of the broker you must specify the ID code of the partner;
- after confirming your account (personal account), you get a trading account number and pass verification (passport data check). Please note that the responsible broker requires you to verify the documents at the time of registration of the real account, and not at the time of withdrawal of the first earnings!
- return to your FxCash account and enter the received trading account number in the corresponding window. And if the whole procedure is completed successfully, then you will receive an email from your FxCash rebate service:
Use, for clarity, a calculator located on the main page of the site. Enter the broker name, currency pair, monthly trading volume in lots and calculate your savings for 1 month and year.
We think the general picture of how an account with a rebate is opened is understandable. Any questions? Ask their professional team FxCash, your guide to the world of stock trading!
FxCash – your reliable rebate service!