When trading the forex market, your broker should be your most trusted partner. Not only do their services allow you to access the markets, but you also trust them with your money. However, this trust should be shared both ways, not just from the customer to their broker.
Therefore, FXTM are taking steps to reward loyal customers through their new Loyalty program. It’s not enough for a broker to sign up new clients, they also need to keep the ones they’ve got satisfied. That is what this new program aims to achieve – to give back to existing clients.
This promotion is intended to reduce the transaction costs incurred while trading, saving clients money. Transaction costs can be quite a burden when trading the forex markets, ether in the form of spreads or commissions and overnight or weekend swaps. All these together can take away a significant portion of your profits, unless you have the loyalty program.
In the program, the cost of transaction is slashed on a sliding scale depending on your account balance, and the number of lots traded. Assume that trading one whole lot incurs a 20-point spread ($20), as this is the average spread.
Read on this Forextime Loyalty Program page for more detail.