It is not a secret that the trading industry (Forex in particular) is subject to high competition. A trader has an opportunity to choose from a wide range of brokers, which offer tempting trading conditions. Spreads represent one of the key factors when choosing a Forex broker. It is especially relevant for intensive intraday traders. In order to allow their clients to cut the expenses connected with spreads, some Forex brokers introduced the rebate (or spread back) option.
According to Eugene Olkhovsky, ’s leading expert in financial markets from Canada, the visitors of SAINT-PETERSBURG FOREX EXPO, which took place in late April, had an opportunity to learn the details of such rebate services.
The following brokers participated in the show: Dukascopy Bank SA, FOREX MMCIS group, PFGFX FOREX Inc., TeleTRADE, BELARTA, ForexClub, BROCO, Grand Capital and even the International Union of Forex Traders (IUFT).
The show lasted for 2 days. The IUFT stand was especially popular with the visitors. They were interested in those benefits the IUTF can provide, including the spread-back, legal safety and the security of trading and investment capital.
The range of services provided by the IUFT (over 60 000 members) is fairly wide. Not so long ago the IUFT revolutionized the industry by offering 60% spread-back for all trades (winners and losers). Since it was founded, the union has already paid its members over $2 millions of spread-back. The service became possible due to multiple agreements between the IUFT and Forex brokers.
The IUFT membership allows any member to trade with any broker in the union’s list of partners and to get spread-back for every single trade. This is a win-win situation. Traders cut their expenses while brokers get new clients. The IUFT is some kind of a middleman, who receives partner payments from brokers and distributes 60% of them between its members.
The IUFT has several competitive edges of its rivals, including fast payments, a wide range of brokers to trade with (over 100), a substantial insurance fund, free legal aid etc. And finally, the IUFT membership is absolutely FREE!
