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Importance of spread cashback

January 6th, 2010

I just checked out my Paypal history for last year to see what I used it for. Mostly Forex related stuff actually. Buying robots, paying for VPS services and getting cashback. It’s the last one I just now fully realized how big of a deal it is (or can be atleast). During last year, since April 26th when I opened my Alpari UK live micro account, I’ve recieved $909.31 from Forexcashback.com in cashback. That is awesome for a account that currently holds just about €1000 (about $1430 today). Also, I had recieved $141.24 from the Aslan Group for my Forex.com/UK account, but that isn’t quite as impressive of course because that account right now have a balance of $3600. For my ECN broker JadeFX I have no cashback, since they don’t accept IBs (Introducing Brokers, or partners like Cashbackforex.com). But on the other hand they have very low spreads and charge just $5 / lot in commission.

So, unless you trade a low-cost ECN broker like JadeFX you should definitely secure a cashback deal. Currently Cashbackforex.com offers 14 different MetaTrader 4 deals with most of the big names, even some ECNs like GoMarkets and FXCBS.

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