5 Best Forex rebates for serious UK traders
One such tool that has gained popularity among serious traders is Forex rebates.
These cashback services return a portion of the spread or commission to the trader.
For UK traders, several Forex brokers offer competitive rebate programs. In the post below, experts Trading Rebates explore what they say are the top five Forex rebate brokers for serious UK traders.
XTB UK
Overview
XTB UK is one of the most popular Forex brokers in the UK. They offer competitive rebate programs, a wide range of trading options, and excellent customer service.
Key Features
XTB UK provides rebates for high-volume traders, with the rebate amount increasing with the trading volume, up to 40% of the spread or commission paid on trades.
Furthermore, XTB offers a user-friendly platform, xStation 5, and a straightforward sign-up process. Their customer service is also top-notch, with quick response times and helpful support.
IG
Overview
IG, a well-established brokerage firm based in the United Kingdom, is renowned for providing reliable and excellent services.
Additionally, IG entices traders with an attractive rebate program and offer a comprehensive selection of trading options specifically tailored to professional traders' needs.
Key Features
IG provides a lucrative rebate program that rewards traders based on their monthly transaction volume.
As the number of executed trades increases, so do the rebates earned. Traders can avail themselves up to $10 for every 300 million traded from spreads or earn as much as $5 per 25 million.
To further enhance the trading experience, IG offers real-time earnings reporting and an innovative trading platform equipped with advanced charting tools.
FXCM
Overview
FXCM is a well-established and reputable Forex broker that caters to traders globally, including the UK. With a strong commitment to providing a superior trading experience, FXCM offers a competitive rebate program to reward high-volume traders.
Key Features
FXCM offers UK traders a tiered rebate program on Forex. Traders who trade at least 10 million notional volumes qualify for Tier-1 and could receive $5 back on their trades. In contrast, traders with a trading volume of 400 million USD automatically qualify for Tier-5 and $30 per million traded.
eToro
Overview
eToro is known for its social trading platform, but it also offers a competitive rebate program for serious traders.
Key Features
eToro's rebate program is part of their eToro Club. Traders who attract followers to their trades can earn rebates on their spreads from $5 per lot traded. Furthermore, eToro also offers a wide range of trading options and a unique social trading platform.
Pepperstone
Overview
Pepperstone is an Australian-based broker that offers services to UK traders. They offer a competitive rebate program and a wide range of trading options.
Key Features
Pepperstone offers a volume-based rebate program, with higher trading volumes earning higher rebates. Traders can earn forex rebates on two trading accounts from 10% of the spread on indices and commodities or up to $3 per lot traded on Forex.
Furthermore, Pepperstone offers UK traders a range of trading platforms, including MT4, MT5, and cTrader, and provides excellent customer service.
Our Final Thoughts
In our experience, Forex rebate programs can be a valuable tool for serious traders, providing a way to earn cashback on trades and reduce trading costs.
The brokers listed above offer some of the best rebate programs for UK traders and a range of other features that make them attractive options for serious Forex trading.