CashBackForex Review 2023 - Verified Customer Reviews
Fxverify is the first of it's kind and only publishes user reviews by verified customers with a real CashBackForex trading account. Learn how we verify.
CashBackForex Promotions
CashBackForex Regulators
- No regulators available at this moment
CashBackForex Review
Updated July 21, 2023
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- A long-established, reputable company
- FX rebates & crypto exchange fees discounts
- Free, weekly demo trading contests with cash prizes
- High customer ratings
We start our 2023 CashBackForex review with a quick analysis of this long-established IB broker. With an overwhelming 99% positive feedback from verified user reviews, CashBackForex.com (CBFX) is always setting the benchmark in the rebates industry with its innovative services and tools.
CBFX is the leading and oldest IB broker providing forex and cryptocurrency rebates and timely payments to its clients. Established in 2007, this rebates provider is a popular brand in the finance industry, with hundreds of thousands of happy clients.
With CBFX, traders can win rebates with their trading activity (even if positions are closed with a loss) on several asset classes: forex, stocks, indices, commodities and cryptos.
CBFX boasts a real-time reports feature on the client’s dashboard, allowing customers to check the accumulated rebates as trading positions are closed. Clients can also count on the expertise of a professional customer support team, available to solve problems and answer questions 24/5, from Sunday 17:00 to Friday 17:00 (New York time).
Let’s look in more detail at what makes CBFX the industry benchmark, what are the average rebate rates, what payment methods are offered, fees and minimum withdrawal amounts.
CBFX is the leading and oldest IB broker providing forex and cryptocurrency rebates and timely payments to its clients. Established in 2007, this rebates provider is a popular brand in the finance industry, with hundreds of thousands of happy clients.
With CBFX, traders can win rebates with their trading activity (even if positions are closed with a loss) on several asset classes: forex, stocks, indices, commodities and cryptos.
CBFX boasts a real-time reports feature on the client’s dashboard, allowing customers to check the accumulated rebates as trading positions are closed. Clients can also count on the expertise of a professional customer support team, available to solve problems and answer questions 24/5, from Sunday 17:00 to Friday 17:00 (New York time).
Let’s look in more detail at what makes CBFX the industry benchmark, what are the average rebate rates, what payment methods are offered, fees and minimum withdrawal amounts.
Rebate Rates
4.7| Asset Class | Spread Reduction | Rebate per Lot | Commission Reduction |
|---|---|---|---|
| Forex | Avg. 0.6 pip | Avg. $5.42/lot | Avg. 19.8% |
| Commodities | |||
| Crypto |
When you trade with one of CBFX partner brokers, and have a linked trading account, your trading activity will be eligible for rebates and will be accumulating cashback.
- Spread reduction: CBFX rebates rates are some of the best on the net. Traders linking a trading account can benefit from an average spread reduction, for forex CFDs, of 0.6 pip.
Investors with a Standard type trading account, from a CBFX partner broker, and trading the EUR/USD pair with a spread of 1 pip, will instead trade with a 0.6 pip.
- Rebates per lot: CBFX rebates rates per lot are on average $5.42 per lot. Take into account that 1 traded lot volume also includes mini-lots (0.10, 0.20, etc.). Smaller volumes should add to a minimum of 1 complete lot by month end to be eligible for the rebates. CBFX will credit the rebates to your dashboard, regardless if trades were closed in profit or loss.
- Commission reduction: Traders selecting a broker offering this option will pay lower trading commission. This is a common feature with ECN brokers, with an average of 19.8% reduction on the trading commissions.
For example, a trader with an ECN-type account with a broker charging $6 commission per 1 lot of EUR/USD will only pay $4.812 trading commission per lot.
Rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
CBFX offers different types of rebate options, and every type of cashback is processed differently. Let's compare the several rebate options:
Rebate Options
| Rebate Type | Rebate Description |
|---|---|
| Spread or commission reduction | No cashback. Instead, the broker will offer lower spreads/commissions directly on your live account |
| Direct to broker account (after $5) | Cashback is credited directly by your broker to your live account daily |
| Paid directly to your broker account | Cashback is credited directly by your broker to your live account 1-7 days after the trades are closed |
| Direct to your XM MyWallet (2x weekly)* | Cashback is credited directly to your XM MyWallet. *Only applicable to the XM broker |
| Monthly cashback | Processed by CBFX, cashback will be credited to your rebates profile and withdrawn at any time |
| Monthly cashback with real-time reports | Managed by CBFX, and similar to monthly cashback above, but with real-time reports posted on your profile dashboard |
CBFX works with 30+ top forex brokers, offering different rebates options and rates. These rates vary from broker to broker, and so the method the rebates are credited/paid back to you. Your potential earnings will highly depend on the rebates rate offered by the broker, traded instruments as well as traded volumes.
Payment Methods, Fees and Minimum Payment
If you have a rebates profile with CBFX, you will need a payment method to withdraw your cashback. CBFX offers several solutions, including the most popular e-wallets and crypto. Let's find out what payment methods are available, what withdrawal fees are charged and the minimum amount for withdrawal:
| Payment Methods | Withdrawal Fees | Minimum Payment |
|---|---|---|
| Bank Wire | $40 | $200 |
| Neteller | 3.5% | $10 |
| PayPal | No fees | $10 |
| Skrill | 3.5% | $1 |
| SticPay | 2% | $10 |
| China UnionPay | 2% | $20 |
| Credited to trading account | No fees | $1 |
| BTC* | 0.00002 BTC | 0.0005 BTC |
| ETH* | 0.0035 ETH | 0.005 ETH |
| USDT (TRC20)* | 2.5 USDT | 5 USDT |
| USDT (ERC20)* | 3.55 USDT | 7.11 USDT |
| *Please note: USD rebates are converted into cryptocurrency at the market rate applicable when payment is being processed | ||
When you trade with one of CBFX's partner brokers and link a trading account to your rebates profile, your trading activity will be eligible for rebates and will be accumulating cashback.
Cashback can be redeemed via eleven payment methods, including bank wire, popular e-payment solutions and a few selected crypto.
With some brokers, the available rebates balance can also be credited back to the broker's trading account and added to the account equity.
Payments are credited to your CBFX profile and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
CBFX does not charge any withdrawal fees. However, withdrawals may incur fees on payments to international banking institutions and e-payment providers. Currently, CBFX does not charge any inactivity fees or account maintenance fees.
CBFX does not charge any withdrawal fees. However, withdrawals may incur fees on payments to international banking institutions and e-payment providers. Currently, CBFX does not charge any inactivity fees or account maintenance fees.
Popularity
5.0
| Trading Education | Trading Tools | Customer Support |
|---|---|---|
| Trading Academy Video Tutorials Technical Indicators MQL Tutorials Market Analysis Forum Telegram Group |
Live Charts Forex Calculators Account Performance Economic Calendar Free Demo Trading Contests |
24/5 Support Multi-language Phone call Live Chat |
The popularity of this excellent IB broker is always high, the fruit of the seriousness and quality services provided to thousands of traders throughout the years in business. Rebates can be earned by trading with 30+ selected brokers offering the highest level of retail investors protection, including segregated investor accounts and negative balance protection.
CBFX broker’s portfolio also allows for trading across multiple platforms (MetaTrader 4, MetaTrader 5 and cTrader) to suit all kinds of traders and trading strategies.
Nevertheless, the key factor for the huge popularity of CBFX is its long presence in the forex rebates industry and its approach to always offering innovative solutions and the best trading tools to its clients. Clients can find:
- Trading Education: CBFX offers an extensive trading education library, available through the Trading Academy tab. Traders can learn how the markets work by reading professionally written articles covering FX and crypto trading. And if you're into MQL programming, several tutorials are offered alongside video tutorials on how to use some of the most popular technical indicators.
- Trading Tools: One of CBFX's strong points and very popular with the trading community. The company offers a complete selection of forex calculators, from pip calculator to compounding calculator, useful to accurately simulate how a trading account can grow over time with a chosen gain percentage per trade. But also, live charts for almost every asset class, a great economic calendar and an account performance tool to analyze the account trading performance (also available for demo accounts).
- Customer Support: - CashBackForex professional and dedicated customer support team is available around the clock, 24 hours, 5 days a week (Sunday 17:00 - Friday 17:00 New York time) in 7 languages: English, Chinese, Italian, Portuguese, Polish, Russian and Spanish. The support team can be reached via contact form, phone call, email and live chat directly from CBFX's website.
- Free Demo Trading Contests: Every trader can be a winner with CBFX. Not just the traders winning rebates, but also thanks to CBFX's demo trading contests, free to join. Participants will trade with a demo account for the chance to win a real cash prize (paid directly to the winners payment method). To participate there's no need to deposit or pay any fees. The only requirement is to have a profile with CBFX and a verified payment method (so CBFX can pay you the cash prize if you are a winner). For more info, visit the CBFX's contests page.
To conclude our CashBackForex review, this top IB broker is a very credible option for traders looking to earn extra cash from their trading.
But also, with over 20 years of experience in the sector, and for their legitimacy, CashBackForex is the ideal solution for those looking for guaranteed forex rebates. And powering a complete suite of trading tools (free to use), merged with the popular demo trading contests paying real cash prizes every week, CBFX is a must-have for any trader.
If you would like to start earning extra cash with your trading, open a rebates profile, or a trading account with a selected broker, or link an existing trading account, visit CashBackForex - Forex Rebates now.
Was this review helpful? Share it with a friend!
But also, with over 20 years of experience in the sector, and for their legitimacy, CashBackForex is the ideal solution for those looking for guaranteed forex rebates. And powering a complete suite of trading tools (free to use), merged with the popular demo trading contests paying real cash prizes every week, CBFX is a must-have for any trader.
If you would like to start earning extra cash with your trading, open a rebates profile, or a trading account with a selected broker, or link an existing trading account, visit CashBackForex - Forex Rebates now.
Was this review helpful? Share it with a friend!
CashBackForex User reviews
CashBackForex Account types user rating
(3)rebates