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rebate or cashback on interbankfx

  • #1
  • First Post: Jul 11, 2008 7:01am Jul 11, 2008 7:01am
anybody know someone or some website offering rebates/cash back if trade through InterbankFX?

Thanks
-1128 Pips since 6 August 2007
  • #2
  • Jul 14, 2008 8:02pm Jul 14, 2008 8:02pm
Quoting yohan_ip
anybody know someone or some website offering rebates/cash back if trade through InterbankFX?

Thanks
Anyone ? please?
-1128 Pips since 6 August 2007
  • #3
  • Edited 1:17am Jul 15, 2008 12:43am | Edited 1:17am
Hi yohan_ip

This might be old information, it may not even be accurate, but I seem to remember STiFX offering some kind of rebate and as far as I know they are (were?) white label for IBFX.

If you're putting decent volume their way it might be worth contacting them to see if you can negotiate a deal.



Edit: I removed the link to their website because Norton comes up with an AV alert.



~
  • #4
  • Jul 15, 2008 12:09pm Jul 15, 2008 12:09pm
I dont think IBFX offers any type of IB or affiliate commission program so I doubt you will find any offers such as this.

If you do, please let me know.
  • #5
  • Jul 15, 2008 12:41pm Jul 15, 2008 12:41pm
Quoting FrankTheTank
I dont think IBFX offers any type of IB or affiliate commission program so I doubt you will find any offers such as this.

If you do, please let me know.
I don't believe that IBFX allows rebates to be given to clients.

GAIN and FXDD do on the MT4 platform -- some clients are getting up to a half pip from certain IB's
  • #6
  • Jul 15, 2008 1:09pm Jul 15, 2008 1:09pm
Well according to IBFX they have over 100 but they refuse to say who they are or provide a list, they would rather turn the business away.

Is IBFX the right MT4 marketmaker anyway, they seem to open an hour later on Sunday and close an hour earlier on Friday. There must be a reason for it, all I can think of is that it somehow benefits them by maybe avoiding the gap risk although I'm not sure how exactly.

It seems spot forex is still a murky world, kinda makes you think about futures don't it
  • #7
  • Jul 15, 2008 1:18pm Jul 15, 2008 1:18pm
Quoting lostinspace
Well according to IBFX they have over 100 but they refuse to say who they are or provide a list, they would rather turn the business away.

Is IBFX the right MT4 marketmaker anyway, they seem to open an hour later on Sunday and close an hour earlier on Friday. There must be a reason for it, all I can think of is that it somehow benefits them by maybe avoiding the gap risk although I'm not sure how exactly.

It seems spot forex is still a murky world, kinda makes you think about futures don't it
When a client comes to an FCM through an IB, the FCM then has to pay out the IB everytime that new client places a trade.

Now, from and FCM standpoint, if this client is a trader that you would not have otherwise had trading with you, then it makes sense to take the trader and you will always be in the net (esp. considering that chances are the guy will blow out his account).

But if a guy comes to you and says "can I have a list of your IB's" he is basically saying "I'm going to trade with you anyways, but I'm going to make you pay an IB because they are going to give me money back"

That's probably why IBFX won't give you a list of their IB's.

As far as IBFX being a good firm, they most certainly are, but they have nothing over FXDD or Alpari IMO besides a debit card feature
  • #8
  • Jul 15, 2008 1:23pm Jul 15, 2008 1:23pm
Stay Away From BostonForex.
If I Go Broke Trying Then I Will die happy.
  • #9
  • Jul 15, 2008 2:41pm Jul 15, 2008 2:41pm
Quoting Moe
Stay Away From BostonForex.
  • #10
  • Jul 15, 2008 2:42pm Jul 15, 2008 2:42pm
Quoting BostonForex
When a client comes to an FCM through an IB, the FCM then has to pay out the IB everytime that new client places a trade.

Now, from and FCM standpoint, if this client is a trader that you would not have otherwise had trading with you, then it makes sense to take the trader and you will always be in the net (esp. considering that chances are the guy will blow out his account).

But if a guy comes to you and says "can I have a list of your IB's" he is basically saying "I'm going to trade with you anyways, but I'm going to make you pay an IB because they are going to give me money back"

That's probably why IBFX won't give you a list of their IB's.

As far as IBFX being a good firm, they most certainly are, but they have nothing over FXDD or Alpari IMO besides a debit card feature
That makes sense but......rather than lose the prospective customer to another marketmaker who's IB's are easier to find wouldn't it be better to either offer the customer a rebate directly or provide a list of IB's? Surely a direct rebate would be better for the MM as he wouldn't have to pay as much as he pays an IB.

It just seemed strange that rather than help me find an IB they would rather lose the business

Debit card facilities are a must for me as I'm running an averaging EA that might need funds quickly but I would rather not have large sums of money on deposit with any of those MT4 MM's. I had an account with Alpari UK because of the FSA protection but at the time they didn't offer a Debit Card facility or any other fast way to fund the account, maybe it's changed I don't know.

By the way, are you connected with Boston Technologies?
  • #11
  • Jul 15, 2008 2:50pm Jul 15, 2008 2:50pm
Quoting Moe
Stay Away From BostonForex.
Why Moe?
  • #12
  • Jul 15, 2008 3:07pm Jul 15, 2008 3:07pm
Quoting lostinspace
That makes sense but......rather than lose the prospective customer to another marketmaker who's IB's are easier to find wouldn't it be better to either offer the customer a rebate directly or provide a list of IB's? Surely a direct rebate would be better for the MM as he wouldn't have to pay as much as he pays an IB.

It just seemed strange that rather than help me find an IB they would rather lose the business

Debit card facilities are a must for me as I'm running an averaging EA that might need funds quickly but I would rather not have large sums of money on deposit with any of those MT4 MM's. I had an account with Alpari UK because of the FSA protection but at the time they didn't offer a Debit Card facility or any other fast way to fund the account, maybe it's changed I don't know.

By the way, are you connected with Boston Technologies?
I agree with you that the MM should offer a direct rebate to the client and some firms do that, such as FX Solutions. I think the reason that they don't could be attributed to increased accounting procedures and an influx in customers wanting rebates.

GAIN Capital allows you to deposit funds via credit card on their MT4 and FXDD offer PayPal, which are both fairly quick and reliable and easy to find IB's for.

I am not affiliated with Boston Trading Technolgies.
Quoting lostinspace
Why Moe?
Ya Moe, Why?
  • #13
  • Jul 15, 2008 3:33pm Jul 15, 2008 3:33pm
Quoting BostonForex
I agree with you that the MM should offer a direct rebate to the client and some firms do that, such as FX Solutions. I think the reason that they don't could be attributed to increased accounting procedures and an influx in customers wanting rebates.

GAIN Capital allows you to deposit funds via credit card on their MT4 and FXDD offer PayPal, which are both fairly quick and reliable and easy to find IB's for.

I am not affiliated with Boston Trading Technolgies.


Ya Moe, Why?
because your always promoting something that benefit you, this thread is about interbankfx not about what other brokers offer.
If I Go Broke Trying Then I Will die happy.
  • #14
  • Jul 15, 2008 4:25pm Jul 15, 2008 4:25pm
Quoting BostonForex
an influx in customers wanting rebates.
lol, yes I thought of that as soon as I posted the message, as well as all those irate existing customers demanding fair play and backdated rebates!.....I pity the poor desk that all that would land on

Anyway, thanks for the info.
  • #15
  • Jul 15, 2008 4:55pm Jul 15, 2008 4:55pm
Quoting BostonForex
I agree with you that the MM should offer a direct rebate to the client and some firms do that, such as FX Solutions.
FX Solutions offer a direct rebate to the client? Do you mean FX Solutions will pay the rebate that an FX Solutions IB is offering to a client directly or are you saying that FX Solutions will pay a non-referred client a rebate?
  • #16
  • Jul 15, 2008 5:48pm Jul 15, 2008 5:48pm
Quoting fxtrader42
FX Solutions offer a direct rebate to the client? Do you mean FX Solutions will pay the rebate that an FX Solutions IB is offering to a client directly or are you saying that FX Solutions will pay a non-referred client a rebate?
Both -- If you call up FX Sol and ask for an IB rep say "This IB is offering me a $5 rebate, but I don't want to work with them, can I get it directly from you?"

They will say yes. FXSol relies heavily on their IB's, so they have no problem paying anyone out, whether it be the client or the IB. Nor do they have a problem switching a non-referred client under a big IB (the IB must refer at least SOME business of course)

It may go a bit smoother if you just went to an IB of theirs and requested to be paid directly by FXSol.

If anyone would like to try this and gets denied, please PM me and I will give you a few contacts to email -- And I will leave myself out of the deal just for good rapport!

Quoting Moe
because your always promoting something that benefit you, this thread is about interbankfx not about what other brokers offer.
Moe -- You've taken hundreds of threads much further off topic than I have on this one.
  • #17
  • Jul 15, 2008 6:02pm Jul 15, 2008 6:02pm
Quoting BostonForex
Both -- If you call up FX Sol and ask for an IB rep say "This IB is offering me a $5 rebate, but I don't want to work with them, can I get it directly from you?"

They will say yes. FXSol relies heavily on their IB's, so they have no problem paying anyone out, whether it be the client or the IB. Nor do they have a problem switching a non-referred client under a big IB (the IB must refer at least SOME business of course)

It may go a bit smoother if you just went to an IB of theirs and requested to be paid directly by FXSol.

If anyone would like to try this and gets denied, please PM me and I will give you a few contacts to email -- And I will leave myself out of the deal just for good rapport!
Excellent, thanks for the info! This is what forums are all about instead of all the childish arguments!
  • #18
  • Jul 15, 2008 8:30pm Jul 15, 2008 8:30pm
Quoting BostonForex
Both -- If you call up FX Sol and ask for an IB rep say "This IB is offering me a $5 rebate, but I don't want to work with them, can I get it directly from you?"

They will say yes. FXSol relies heavily on their IB's, so they have no problem paying anyone out, whether it be the client or the IB. Nor do they have a problem switching a non-referred client under a big IB (the IB must refer at least SOME business of course)

It may go a bit smoother if you just went to an IB of theirs and requested to be paid directly by FXSol.

If anyone would like to try this and gets denied, please PM me and I will give you a few contacts to email -- And I will leave myself out of the deal just for good rapport!
I am not going to say what you are saying isnt true since I have never asked. However, I highly doubt that what you are saying is true. If there is an IB attached than I do believe it is possible. However, if anyone were to call FX Sol and ask for better spreads (considering their spreads are not very competitive IMO) they would never give it to you regardless of volume but if a trader asks if he can get a rebate (basically the same thing as getting a better spread) they will say yes. Somehow I doubt that. However, if someone has actually got such a deal or calls and they offer a rebate without going through an IB I would be surprised. I know this much it is not going to be me that makes that call!
  • #19
  • Jul 16, 2008 5:24am Jul 16, 2008 5:24am
Thank you for the inputs
it's really wonderfull to see such intelegent and an awesome knowledge of each traders..

BostonForex, thank you for giving out the informations, i'll let you know if i receive the rebates.
-1128 Pips since 6 August 2007
  • #20
  • Jul 16, 2008 10:33am Jul 16, 2008 10:33am
Quoting fxtrader42
I am not going to say what you are saying isnt true since I have never asked. However, I highly doubt that what you are saying is true. If there is an IB attached than I do believe it is possible. However, if anyone were to call FX Sol and ask for better spreads (considering their spreads are not very competitive IMO) they would never give it to you regardless of volume but if a trader asks if he can get a rebate (basically the same thing as getting a better spread) they will say yes. Somehow I doubt that. However, if someone has actually got such a deal or calls and they offer a rebate without going through an IB I would be surprised. I know this much it is not going to be me that makes that call!
Rather than speculate why don't you try?

And to be clear -- a tighter spread and rebate might look to be the same thing, but a $5 flat rate rebate is not the same as shaving a half-pip off of a spread unless we are talking about a single lot trade.
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