Frequently Asked Questions & Answers
What are rebates?
When placing a trade on your Forex account, the Broker charges you with a fee in the form of spread or commission.
For referring a client to a Broker, the IB gets paid cash rebate, which is a percentage of the fee that is already been taken from the client. MyForexib pays the rebates back to its clients on a monthly basis, ensuring lower costs of trading, which inevitably results in greater profits.
The program is valid for new and existing clients.
Unlike some other Cash Back providers, we believe that transparency and honesty is the way to go. That is why when you choose a broker you can be sure that your account will not have any additional markup.
How to receive rebates on your new Trading Account?
1. Choose a broker from the list and open an account with him
2 Register on MyforexIb
3. Register the account on your personal page on our website and start receiving cash rebates
How to receive rebates on your existing Trading Account?
For existing clients:
To receive rebates on your existing account please contact your Broker and ask him can he transfer your trading account under Crystal Capital’s IB account. In some cases, you need to open a new trading account with the same Broker, in order to have Us as your IB. Please note that not all Brokers allow existing clients to receive rebates or to be transferred under different IBs if they were already introduced by some other IB.
If your Broker allows you to receive rebates from us, please do the following:
- Register on myForexib.com website
- Fill in your Account in your personal area page
- Contact us via e-mail or chat
Can I still receive rebates even on a loosing trade?
YES! The rebates are paid for the volume you make. It does not matter if your trades are winning or losing. You still get paid rebates.
Will my spread or commission increase if I use myForexib?
No! We don’t have any markup with our contracts with Brokers. This means your that there will be no additional increase in your spread and commissions.
How to know that this is not a scam?
We are an official company registered under the laws of the European Union with an official Reg number. The status of the company can always be researched by our clients or authorities.
Never the less our status can also be verified by the Forex Brokers we are working with.
Can i have multiple accounts with different brokers and still get rebates?
Sure! You can have as many accounts with different brokers and receive rebates on every trade as long as those Brokers are our partner and can be found in the “Brokers” tab on the website.
When can i withdraw my rebates?
At any time you wish.
How long will it take to transfer my rebates once I make a withdrawal request?
All withdrawals are processed within 24 hours from the time of your request. However please have in mind that the requests are been processed during the working days of the week.
How can i receive rebates if i have an account with a Broker which is not listed on your website?
You need to contact us and tell us which Broker do you have in mind. We will review the Broker and if there aren’t any legal restrictions or any loss to our good standing we will start cooperating with his so you to receive your rebates.
How many accounts can i have with myForexib?
What kind of Payment Methods you have?
What are the withdrawal fees for each Payment Methods?
The withdrawal fees related to different payment methods are as follows:
Can my rebates be deposited directly into my trading account?
Some of the Broker we work with have this options.
For more information pay attention to the “Rebate option” field which can be found in the Trading conditions for every account type offered by the Broker.
“Instant” means that the rebates are deposited directly into your trading account
In what currency do you pay the rebates?
The rebates are paid in USD (American dollars)
When and Where can i see my rebates?
At the beginning of each month, the client’s rebates are been calculated for the previous month and they appear on the upper blue field in client’s personal area.
What is the minimum rebate Withdrawal amount?
The minimum withdrawal amount is as follows:
$100 for Bank Transfer
$10 for Skrill, Neteller, and Paypal
Pay attention to the “Notes” section, which is located beneath the Account types in the personal page of every Broker.
There may be some exceptions for the Withdrawal minimum.
Does myForexib have access to my trading account?
No! We do not have access to your Trading account or statements.