FXOpen Cashback Program lets traders receive an additional refund for any kind of trades including loss-making. It is easy to get cashback: it is added to your Commission account that is open automatically, with no further actions. The cashback amount is determined in accordance with the total margin used on all client's trading accounts. The program is available for all types of FXOpen trading accounts: ECN, STP, Crypto, Micro, PAMM ECN, PAMM STP.
You can use FXOpen Cashback Program during the first 90 days from the moment of registration for new clients. For existing clients the program is available during 90 days from the moment of joining the program (connection is carried out upon request to the support service at firstname.lastname@example.org). The minimum cashback is $5, the maximum is $1,000. The maximum cashback per trade is $100.
How to calculate Cashback?
The basic partnership commission (a percentage of the FXOpen trading commission or Standard commission) equals 2.4 pips (5-decimal pricing) per trade in an STP or Micro account and 15% of the commission for ECN and Crypto accounts.
Standard Commission is multiplied by a certain coefficient, which depends on the total Used Margin on all client accounts. The table below shows coefficients for cashback calculation. The right column of the table illustrates the cashback calculation of the Standard Commission of $15.
As you can see, the cashback value decreases with the increase in the total Used Margin. Please note, that cashback is not credited, if the total Used Margin exceeds the threshold of $1.05m within 90 days. An example of Cashback calculation and more information on FXOpen Cashback Program you can find in FXOpen Knowledge base.
What are the advantages of FXOpen Cashback Program?
- Cashback amount can reach up to 150% of Standard commission per trade. It is one of the highest refunds among Forex brokers.
- Cashback is fully automated. The funds are credited to the client's Commission account. They can be withdrawn or used for trading right after crediting.
- The program is activated automatically at the time of registration with no additional requests. It is valid throughout the 90 days.