Traders are able to receive additional money from FXOpen Cashback Program even if they've experienced a loss. Cashback is easy to get: your Commission account is automatically credited with it after you purchase, and it requires no further action on your part. The amount of cashback is determined by considering the total margin on all trading accounts for each client. Program users can use any type of FXOpen account they wish, including ECN, STP, Crypto, Micro, PAMM ECN, PAMM STP.
New FXOpen clients can take advantage of the cashback program during the first 90 days after registering. The program is available to exist clients for 90 days after joining the program (connection is arranged by contacting FXOpen's support department at [email protected]). There is a minimum of $5 cashback and a maximum of $1,000 cashback. Cashback is limited to $100 per trade.
What are the steps to calculate Cashback?
2.4 pip (5-decimal pricing) are taken from the fundamental partnership commission of FXOpen (a percentage of their trading commission or standard commission) for an STP or Micro account, and 15% for ECN and Crypto accounts.
A certain coefficient is applied to Standard Commission, which varies based on the totalled Used Margin of all client accounts. The following table shows the coefficients used when calculating cashback. Column right of the table illustrates how the Standard Commission of $15 is calculated in cashback terms.