How Does a Trader Earn Cashback?
Each of us strives to earn more. But, as practice shows, sometimes getting more money means saving money. We strive to save where we can, for example, by choosing a discounted product in the store. Recently, another way to save money has appeared - it is a cashback. It has been adopted by many services, both online and offline. It's about this way to save money we'll talk about below. And it is possible to save money on cashback by trading on the foreign exchange market.
Cashback on the currency market
What is a cashback? Cash back is translated from English as "cash back". In other words, it is a refund of part of the money spent on the purchase. Imagine you are buying something in a store and paying with your card. If you're supposed to get 10% cashback, then 10% of the amount you spend will come back to your card. This is a nice bonus that many customers have already appreciated. But cashback is possible not only in the sphere of trade at the household level.
Recently, this way of saving has also appeared on the foreign exchange market. Many brokers began to attract clients with the opportunity to save money with the help of cashback. The essence is that the client gets back a part of the commission paid to the broker for his services - a part of the spread. Broker AMarkets (go online) is among such brokers. The cashback program of this company consists of five levels and assumes the growth of the percentage of return, depending on how long the client uses the services of the company. That is, the longer the client works with forex brokerThe greater the return he receives on the account.
When determining the size of the cashback, the volume of the transaction is taken into account, as well as the duration of the hold volume. So, during the month the trader should trade from 5 lots. When this volume is reached, cashback is paid automatically. The good news is that since September 2021, AMarkets has raised rates by $3. The company will now pay back up to $17 from each lot!
Why does a broker need cashback?
It seems that refunds to clients are not profitable for the broker. But it is not. By doing so he motivates his clients to be more active. Active clients are the constant opening and closing of positions, from which the broker receives a commission. The more trades clients open, the more money the broker earns. In addition, the loyalty and success of clients increases, as well as there is an opportunity to support open positions in case of drawdown.
How does it work and how much can I earn?
AMarkets offers a 5-stage cashback program. In the first stage the rebate amount is $3 for each lot traded, provided that the volume of 5 lots in 30 days is reached. If the minimum trading volume is kept, in the next month trader gets $11 for each lot. The amount of cashback grows until it reaches $17 per lot. Such conditions push the client to activity and are profitable both for the client and for the broker.
Who would be interested in Cashback?
Cashback from AMarkets is interesting to almost any client who wants to build long-term cooperation with the broker, because the amount of payments directly depends on the duration of trading and activity. The bonus can be used to increase liquidity, which is beneficial to any trader. Importantly, clients who are already cooperating with AMarkets have the opportunity to take advantage of the 2nd and 3rd level of cashback at once. They should contact their manager and discuss the terms.
Terms and conditions of the promotion from AMarkets
To participate in the program, you must have one of the two types of accounts - Standard or Fixed. FX and Metals are allowed as trading assets and transactions must be opened in MT4 trading platform. The time of each transaction should not be less than 3 minutes and the profit from transactions should be no less than 10 pips. The most important condition is the volume of 5 lots traded within 30 days. If this condition is not met, the account returns to the first level of the program. The same will happen in case of early withdrawal of funds from the account.
It's easy to join AMarkets cashback program! Contact your personal manager or go to your personal cabinet and apply. New clients can double their starting capital by opening an account with AMarkets, which will help significantly increase potential trading profits. The cashback program opens new possibilities and stimulates active trading on the market, which positively reflects on the professionalism of traders and also contributes to the growth of profits.