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To calculate your rebate on a single trade, follow these simple instructions and
example:
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Obtain the broker's rebate rate from www.cashbackforexusa.com, for this example we will use
the broker FXDD, who currently has a rebate rate of .7 pips per round turn.
* A round turn simply
refers to a completed trade. If the rebate rate is not expressed in pips, but is
expressed in dollars you should skip all additional steps and simply multiply
the rebate rate by the number of standard lots (1 standard lot = 1, 1 minilot =
.1, 1 microlot = .01, etc.) If the rebate rate is expressed as a % of
commission, you can skip all additional steps and simply multiply the rebate
rate % by the amount of commission your broker charges.
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In the first field of the calculator [Pip Amount] enter the rebate
rate, in the case of our example we enter .7, and then choose the currency pair you
have traded or intend to trade from the dropdown textbox. Lastly, enter the contract size of your trade expressed in currency units. For one standard lot the value will
be 100000, for one minilot (.10 lots) the value will be 10000 and for one
microlot (.01 lots) the value will be 1000. If you wanted a calculation based on
2 microlots rather than 1, you would simply enter 2000, etc. For our example, we
will enter 100000, the equivalent of one standard lot.
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Click the [Calculate] button to view your rebate on this single trade. To
estimate your total rebates over a month or year you will have to multiply this
value accordingly. In our example, the calculator results are '7 USD', so we would
receive a $7 cash rebate for every trade like this one.
* The pip calculator uses the current exchange rate of the selected currency
pair while historical or future trades would be calculated based on historical
or future exchange rates, respectively. |