CashBackForex (CBFX) was established in 2007, headquartered in Ireland, and is a website that provides forex rebate services. The main business of the site is to act as an Introducing Broker (IB), referring customers to various forex brokers and earning commissions from them. A portion of the commission is returned to clients in the form of rebates. CashBackForex offers trading options covering financial instruments such as forex, stocks, indices, bonds, oil and gas energy, binary options, cryptocurrencies, metals, vanilla options, contracts for difference (CFDs), ETFs, soft commodities (such as coffee, sugar) and non-fungible tokens (NFTs).
Rebate Service
CashBackForex collaborates with numerous forex brokers to provide rebate services to users. After registering with a broker through CashBackForex, clients can receive rebates for every trade they make. This rebate system guarantees an increase in profitability regardless of trade outcomes. The rebate structure includes cash rebates of up to 1.3 pips per standard lot traded.
User Experience
CashBackForex has generally received good reviews within the forex trading community. Many users praise its prompt customer service and timely payments. Users who have been utilizing CashBackForex's services since 2011 have reported no issues regarding payments or rebate calculations, with several stating that they have received thousands of dollars in rebates through the service.
Partner Brokers
Brokers partnered with CashBackForex include FXCM, FXOPEN, eToro, Dukascopy, among others. These brokers offer various spreads and rebate amounts, enabling users to select the broker that best suits their needs. Through these brokers, users can trade not only major and cross-currency pairs but also commodities such as gold, silver, oil, natural gas, wheat, soybeans, as well as the Dow Jones Index, S&P 500 Index, and a multitude of international indices and stocks.
Spreads and Leverage
CashBackForex provides users with the opportunity to select the best spreads through collaboration with numerous brokers. Many brokers offer a 2-pip spread on Euro/US Dollar and US Dollar/Japanese Yen, and clients with ECN accounts can even enjoy spreads as low as 1 pip. In addition, some brokers offer leverage up to 500:1, which means that users only need to provide 200 units of the base currency as margin for a standard contract.
Platform and Mobile Trading
Most brokers in cooperation with CashBackForex provide web platforms that do not require downloading, allowing users to trade on the go, and are also compatible with iPhone and iPad. Each broker offers unique web platform features and mobile trading capabilities, so these factors should be considered when choosing a broker.
Trading Tools and Education
Although CashBackForex does not itself offer trading tools or forex education, most partner brokers provide at least one pip calculator, crucial forex economic calendar dates, and a comprehensive set of forex education modules covering both basic and advanced forex topics.
Conclusion
CashBackForex provides forex traders with an opportunity to earn additional income through their trades, even in cases where the trades are not profitable. This service effectively enhances the profitability of traders over the long term. The primary benefit of opening a CashBackForex account is the generous rebates one can receive on each trade. Given that CashBackForex's rebate offers are unparalleled in the industry, not even matched by the executing brokers themselves, both novice and experienced forex traders can benefit from its generous rebate offerings. By simply choosing a partnered broker to trade with, users can set up an account for free and start receiving rebates.
In conclusion, CashBackForex (CBFX) is regarded as a popular rebate service provider in the forex trading market due to its stable and reliable service, extensive choice of partner brokers, and user-friendly rebate policies. Through the diverse financial instruments and trading platforms provided by its partner brokers, users can choose the most suitable broker and trading conditions according to their own trading strategy and risk preferences, earning rebates on each trade to increase profitability.
