PaybackFX Review: Are Rebates worthy?

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PaybackFX Review: Are Rebates worthy?

A new rebate program developed by myfxbook is here for us to check out. PaybackFX ( review is out after the developers claimed that this is the best rebate program. The purpose of developing this platform is to give traders a break on commissions paid to brokers. To start the process, traders have to sign up with an affiliate broker using a referral link. By doing so, members earn money off every trade that is made. Read this entire PAYBACKFX critique.

PaybackFX Review

About PaybackFX

Before continuing with this review, users should note that the platform is not open to certain jurisdictions. The disclaimer at the footer of their homepage states some of the countries whose members are ineligible. It means the distribution of their services is contrary to the laws or regulations in those countries. When it comes to the overall presentation of the platform, a lot leaves to be desired. Information on the background and history of the platform is missing.

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PaybackFX is a recognized brand due to the developer. Myfxbook is a well-known statement sharing service provider. With myfxbook, traders get to verify whether trading robots do make a profit. Apart from statement sharing, the company has decided to offer rebate services. To get into contact with the owner, there is a page on either of the websites. Pay Back FX believes that they stand above the rest of the crowd. Users have to test the rebate to see whether it can compete with other strong brands. Other major competitors include Cash Back Forex and IC Markets.

Business owner

There is a lot to talk about when it comes to the business owner. Myfxbook Ltd is the sole owner of this rebate program. The platform is widely relied upon when it comes to verifying trading results. It shows the level of professionalism by the vendor to look after the interest of traders. With a commendable owner, we expect their services to be fully professional. In case of any hurdles, the platform should be able to respond to queries. It is what makes a rebate program stand apart from the rest.

Comments from users

With over 90 percent positive comments, it goes to show how serious this rebate program is. The vendor is trying to compete with other long-standing providers such as Cash Back Forex. Ensure you check the various comments made available on their myfxbook profile. There is some negative feedback from a user by John562, who is unhappy with the platform. Elena is another user whose payment is yet to reflect on her account. Other users seem to be content with the services and are happy with the rebate platform.

Domain details

According to a trusted domain checker, the website went live on15th October 2015. The vendor has over five years in the industry, which goes to show their ever-growing experience. Data also reveals that their servers are located in New York. There have been four unique IP changes over the past five years. Thanks to this information, we can safely assume that Pay Back FX is a reliable rebate provider. Being in the industry for over five years shows commitment to the course.

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Features of Pay back FX

PaybackFX Features

When it comes to the available features, the developer does not hesitate to name them. Some of the notable features include real-time reports, the highest rebate rates, and awesome support. There is also a welcome bonus which we will explain further. The trading conditions will remain the same as it helps reduce trading costs. One will also have to improve profitability when using rebate programs. It is the reason why we insist on newbies to try out this rebate program from myfxbook.

How to choose the best rebate provider

Before signing up with a rebate provider, there are some aspects to look out for. A genuine rebate provider must have some features that make them stand apart from the rest. Make sure that the selection of the rebates is conducive. Ensure you consider payment options and the security guarantee the payment provider offers. The customer support is important as the rebate provider must provide the language in your country. Check whether they offer a loyalty system and referral programs.

License and registration of PaybackFX

As far as permits go, PaybackFX is far from having a valid pass. It is one of the reasons why the vendor is not providing their services to certain jurisdictions. And this goes to show how far rebate programs have to go to be recognized as legal entities. The vendor should come clean and inform users that there are risks involved. One of the risks involved is the security of funds with their platform. When and if the platform faces bankruptcy, users will lose any funds deposited with the rebate program.

The term of services is another area which we have to shine a light on. With their terms and conditions, we see a scenario where there is no liability. All liability is pushed to members, which is ideally operating in bad faith. With rebate programs, the vendor should be able to protect consumers. All the brokers should comply with industry regulations and have a valid trading license. It’s the only way to protect users from insolvency and to wind up. When signing up, know that the rebate service provider does not guarantee the security of funds.

Obstacles and opportunities with Payback FX

Free $10 bonus on every trading account

PaybackFX is offering a $10 bonus on every trading account. According to their homepage, they are giving away one million dollars to the first 100,000 accounts. Users are also not limited to one account as they can add as many accounts as they wish. One can withdrawal the amount after the total accumulated funds reach $100. And this is the catch that most traders don’t get with this rebate program. Although it seems fair to offer $10, the withdrawal clause is a huge disadvantage to users.

Supported brokers

Supported Brokers with PaybackFX

There are over thirty supported brokers with this rebate program. The number of brokers keeps increasing with the high sign up. Users can also use their preferred brokers, but they must use a referral link. It seems that the platform is interested in promoting their brokers. In fact, members are urged to use the listed brokers due to withdrawal issues. The vendor claims it’s easier to use these brokers as funds are sent to them immediately. We don’t believe it to be the case as the vendor can easily send funds to any broker.

Support and contact

When it comes to customer support, this is where Payback FX performs dismally. The only way to contact the vendor is using their myfxbook profile or sending an email. Looking at their contact page could see that there is no direct access to the support team. There’s just a message board where users are to leave their message. One would expect that such a reputable owner should offer a live chat service. The vendor should have at least posted their phone number for easier access.

Scam or Legit PaybackFX

For those who are interested in rebates, PaybackFX is a platform worth checking out.  Interested parties can test out this rebate program and share their experience. Considering the volume that traders conduct, rebates will surely become an option. Take advantage of rebate programs and ensure you earn more.


We highly recommend using and testing this rebate program. Kindly leave your comments on your experience with Pay back FX.

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Our entire trading team wishes everyone a happy and lucrative trading experience.

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