Forex Basics

1. What is FOREX?

   The foreign exchange market (currency, forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies.

2. What is a Pip?

   A “pip” is the smallest increment in any currency pair.

   In EURUSD, a movement from 1.3241 to 1.3242 is one pip, so a pip is .0001.
   In USDJPY, a movement from 130.45 to 130.46 is one pip, so a pip is .01

3. What is a rebate?

   A rebate is a part of the spread or commission that you pay to your broker that we give back to you each month. We are able to give rebates to our clients because we receive compensation for referring you to your Forex broker. Major part of that compensation goes directly back to you each month.

4. What is a R/T (round turn)?

   A round turn is a completed trade - the opening and closing of a position.

5. How much leverage is available to me?

   Most brokers have different leverage available to the Forex Trader. Usually it is 100:1*, but other leverage ratios are used as well like 50:1, 75:1, 200:1, 500:1*. Each broker is slightly different, but they all have more than one leverage option for the trader.

   *Without proper risk management, this high degree of leverage can lead to large losses as well as gains.

Forex Rebate Service

1. What if my trade loses, do I still get rebate?

   Yes, you will get rebate. There is no difference in this situation - if you win or loose, you get rebate on your traded volume.
   Note: Some brokers have policies regarding if traded position will be taken into account when calculating rebates. You should check it in the broker’s page in ForexTradingChoice.com.

2. Why do I have to go register through you to receive rebates? Why cant I just sign up directly with wanted broker?

   If you go directly, you will not be able to get rebates. Therefore, you have to register with our introduced broker of your choice using the placed links or naming us as referring/introducing broker. Otherwise a Forex broker will not be able to find out that you have been referred by ForexTradingChoice.com.

3. How do I sign up to get rebates?

   To join our Forex rebate service, you need to:
   1. register at our page;
   2. open an account with a participating broker of your choice using the links on our site;
   3. register your account at our page.
   You can begin to trade then.

4. Why clients do not pay more money when they go through an IB - ForexTradingChoice.com?

   ForexTradingChoice.com is an introducing broker (referring agent) to Forex brokers listed here. Main rule of partnership with Forex brokers - no increased spreads and no added commission fee. We are compensated by the clearing firm (the company that holds the clients’ funds and execute the trades) we work with according to referred clients trading volume. This way we can offer traders a cash refund on every trade a trader executes
   We receive commission for every round turn trade our referred clients make. Then we give the majority of this commission back to them!

   We are just doing revenue sharing with referred Forex traders!

   Note: We DO NOT hold any funds! Clearing firm holds your funds.

   You will receive exactly the same spreads, execution, and other levels of service from your Forex broker that you would if you register directly to your selected Forex broker. The only difference - you will get monthly rebates.

5. How can the clearing firm compensate the IB - ForexTradingChoice.com without making the client pay for it?

   The clearing firm pays referring/introducing agent a part of the spread for the referred trader. Trader get access to the same tight spreads that are available to all other clients of the clearing firm. This way of compensation is common and most of the clearing firms work with referring/introducing agents to get more clients.

   If you would not use our Forex rebate service, you will not get rebates according to your trading volume.

6. What if the Broker that I want to trade through is not listed on ForexTradingChoice.com?

   Please contact us to let us know which Broker you would like to trade with. We are open for such suggestions.

7. Do you have access to my account?

   We have no authorization to access your account, because we partnership with Forex brokers as referring/introducing broker and not as money manager. Therefore, you will receive the same spreads, execution, and other levels of service from your selected Forex broker that you would if you would register directly at your selected Forex broker.

8. I already have an account with one of the listed brokers. Can I still get rebates?

   It can be done. You will need to fill out a transfer form or fill out new account paperwork naming us as the Referring/Introducing Broker. This is an easy process that we expedite for you to ensure a timely transfer with little to no downtime in your trading.

9. How much do I need to start?

   Our service is FREE for all traders. The limitation is from brokers side, because each broker has an initial deposit amount that is required to open an account. This amount varies within brokers.

10. Can I demo trade the account before I go live?

    Definitely, yes! Each listed Forex broker has demo accounts. You can test the broker prior opening a live trade account.

11. Does it matter which platform I want to use?

    You can trade on any platform you like - you just need to trade at any broker we have listed. This is up to you.

    But we must note, that the rebate rate may differ within broker different trading platform, so please check what you can get with each trading platform and make your own decision.

12. If I am already profitable from trading, why do I need a rebate?

    Regardless of whether you are a new or experienced trader profitable or not you should be receiving a rebate on your account. This is money you are going to pay out per trade in any case. Do you want to throw your money and not get it back at no additional cost to you?

13. Do you offer any other brokers not listed on your site?

    We have relationships with brokers not listed at ForexTradingChoice.com. Some of them do not offer transparent partnership (we do not get clear information like how much which trader has traded and etc.) or we can not meet their requirements. If you know broker not listed at our website, send a message to us via contact us form. We strive to response within one business day.

14. Does it matter which currency pairs I trade?

    Not at all. You will get the same rebates regardless of currency pairs traded.

15. I would like to open a mini or micro-account – do I still qualify for rebates?

    Yes. You will get rebates according to the size of your trades.

16. Does my account size matter? Can I be too small to qualify for rebates

    We accept every client, who wants to get trade rebates. It does not matter how big or small your account is. You need just to trade and you will receive rebates.

Payment information

1. When do I get paid?

   Traders get rebates paid once per month before the 25th of each month for the previous month trading (i.e. payment for January’s trading is sent before February 25th.)

2. How will I get paid?

   Payouts can be made through:
   1. AlertPay (2,5% fee) - Alertpay may charge you additional fee;
   2. MoneyBookers (free);
   3. Liberty Reserve (4% fee);
   4. PayPal (2% fee) + PayPal may charge you additional fee;
   5. Wire transfer ($35 transfer fee).

3. Is there minimum payout?

   We do not have payout minimum. But we recommend you to calculate what option would fit your needs best.

4. Can you pay my rebates into my trading account?

   No. We are a third party to your account. Common regulations prohibit brokers to accept payments into your account from a third party, because of anti-money laundering regulations.

What if I have other questions?

Please, send your question to us via contact us form. We are open to your questions, comments, proposals. Our mission is to assist you with whatever questions you may have.