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How I make an extra 300 dollar per month on Forex Trading

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Old 09-09-2009, 13:50
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Join Date: Sep 2009
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Default How I make an extra 300 dollar per month on Forex Trading

Many forex brokers use so called Introducing Broker programs as a way to attract new customers. For every customer an Introducing Broker attracts he gets a share of the commissions charged to the customer.

Customers pays the same commissions no matter if they are with and IB or not. What is important to know for you as a trader is that brokers have a built in margin in their commission structure to allow for incentive payments to Introducing Brokers.

Some introducing brokers are now passing on a significant amount of their payments received to you as a trader. There are several programs on the market at the moment, but I use ForexCashback since they have the highest rebates with the best brokers and they have never missed a payment so far. I get the payment through Paypal which is the most convenient payment method for me.

I have two accounts with Alpari Uk, one with FXCBS and one with FXCM. I have a total balance of about $7 000 dollar on these accounts.

I get an average of 0.5 pip rebate and I trade pairs with an average pip value of around $10. So the discount I make is about $5 per Lot traded.

On average I trade about 60 Lots per month in total. The monthly cashback discount I receive is therefore 60 x 5 = $300

My trading style and strategies is described on my blog and information regarding the cashback program can be found at the ForexCashback.info site.
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