Rocking Rebate

Filed Under (Performance) by Casey on 01-03-2010

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If any one trading forex is not in any rebate program then you might not know what you are missing…

It took me one year of ignorant trading to realize how some small things will give you an edge when it comes to bottom line profits. It was pretty tedious to set up at first for me. And I started to get this going since the end of last year when I was trying to organize my account but I guess those efforts were not wasted…

I got my rebate from CashbackForex last week and I was like woo… It really helped me improve my profits for the month of February. (Will leave my February performance in another posts)

Last month I manage to get $43.93 in rebate for both my Alpari and FXOpen account which added about 0.73% to my profits.

Ok… so it’s peanuts. Still every cent counts!!!

But let’s take a closer look and see how I manage for each broker

Broker ————- Profit —————– Balance —–Rebate ————-Total Profits
Alpari ————- 98.14 (2.26%) —— 4,349.63 —– 17.34 (0.40%) — 115.48 (2.65%)
FXOpen ———– 91.76 (5.24%) —— 1,750.83 —– 26.59 (1.52%) — 118.35 (6.75%)

My FXOpen account seems to be glowing compared to my Alpari account and I can’t seem to do anything to it… but let’s just see how it will work out in time.

Looking at it in more depth, most of the rebates were coming from my scalping strategies. Just to give to you an idea… My silly scalper account made about 38 bucks on a 100 bucks account and my rebate was like adding another 10 bucks to it… almost 50% profit on a 100 bucks account…

Hmm………………. Interesting………….. mighty interesting………..

(Note: Alpari recently account that because their spread getting tighter, rebates cashback for Alpari has been reduced from 0.7 to 0.1 pips per round turn.. $hit!!! Still any rebate is better than no rebate at all)