I heard from my friend who trades in IBFX that they can get a rebate of $8 per lot. He found out about it from a thread on kaskus, pusatrebate.com. Is that true? Do regulated brokers also provide rebates?
To the best of my knowledge, that falls under affiliate.
Thanks
For trading, it can be said to be safe because traders trade with the broker. Only for rebates, fraud can occur from the affiliate or upline/ib, it may not be distributed or others.
Thanks.
@ Yanto:
It's possible, for 1 lot the average per pip = USD 10, so if USD 8 means getting a 0.8 pip rebate. I think it's reasonable for a spread that (at that time) averaged 2 pips for EUR/USD.
Brokers regulated by credible regulatory bodies also offer rebates. Rebates are one way of promotion to attract clients, usually through IB. Read also: List of Brokers Providing Forex Rebate. On that list, regulated brokers such as Pepperstone and OANDA also provide rebates.
Note: IBFX Broker is now defunct. As of September 2014, it has been acquired by FXCM broker.
@ Omin:
Safe as long as the broker is regulated by a credible regulatory body. There, Pepperstone and OANDA also provide rebates.