Can somebody please explain to me how forex rebates work?
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This entry was posted on Friday, October 30th, 2009 at 8:01 am and is filed under forex trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 30th, 2009 at 8:01 am
It is simple. The brokers make money only when you place orders. They make their money because of the spread (the difference between buy and sell price).
So they try to persuade you to get big rebates… they pay you back if you place orders, based on your volume. But you first had to pay them (though you don’t see it, it is the hidden cost of the spread).
Don’t fall for it. To make money on forex, you need to be a smart trader and smaller spreads will make you more money than fake rebates.