Forex introducing broker, in other words a broker that uses that metatrader platform for trading make money on spreads and commissions. When your turnover is very large, your broker make a lot of money from your trading. Is there a way to get a discount or cashback on all this money your Forex introducing broker is making from your trading?
Actually it is! Consider the following calculation example:
Assume that you open an account with FXCM which is one of the most reputable forex introducing broker, which offers 0.6 pip discount per roundtrip lot traded. One pip equals about $10 on average if you trade EURUSD, EURCHF and EURGBP. Lets 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!
FXCM is not the only of the forex introducing broker that is connected to Cashback Forex. You can also claim a cashback from the following brokers: 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 forex introducing broker.