What is IC Markets cashback?

IC Markets cashback is a trading fee rebate program that the IC Markets forex broker is applying to its traders through affiliated partners (IBs).

Normally, when you trade, you have to pay the broker two basic types of trading fees, including the spread and the commission. If your account is not linked to any IB, the broker keeps all of these fees. But if your account is linked to an IB, the broker will pay a portion back to the IB, called an introducing commission.

If you register to receive cashback, the IB will refund you part or all of the commission that the IB receives from the broker. Whether you get more or less depends on each IB’s policy. If you do not receive cashback, then the broker and the IB will split it and keep all the trading fees you paid to the broker.

When registering to receive IC Markets cashback under the IB code of Backcom101.io, you will be applied the highest rebate rate, up to 100%.

Is IC Markets cashback a scam?

IC Markets cashback is an official promotion program of IC Markets applied to customers through the broker’s IBs, so this is a fully trustworthy program.

With IC Markets, cashback will work as a direct discount on spread fees or as a bonus paid back to the trader’s bank account, depending on which method you choose to receive cashback.

Therefore, cashback will not affect the actual spreads of the currency pairs you trade, and it will not affect order execution or the win/loss results of your trades.

Benefits of receiving IC Markets cashback

Cashback is a trading fee rebate program, so the most obvious benefit is that you save on trading costs. For example, if you trade 1 lot of gold on a Standard account, the trading fee you pay to IC Markets is about $11/lot. When receiving cashback, you will get $4/lot refunded. Thus, in reality, you only pay the broker $7/lot, saving $4.

For traders who trade large volumes, accumulated cashback can be a very large amount of money. If you don’t take it, someone else will—so there’s no reason for traders to refuse broker cashback.

Which accounts is IC Markets cashback paid on?

Currently, IC Markets supports traders receiving cashback on two main account types: Standard and Raw Spread.

How IC Markets cashback is calculated and how to receive IC Markets cashback

The amount of IC Markets cashback will depend on the following factors: the trader’s account type, the asset being traded, the trading volume or number of lots, and the cashback rate applied by the IB.

When registering to receive cashback under the IB code of Backcom101.io, you can choose 2 cashback methods with the following cashback levels:

• Method 1: cashback paid to your bank account at the beginning of each month. With this method, you will receive 100% cashback, i.e., $2/lot for Raw Spread accounts and $4/lot for Standard accounts. This cashback level applies to FX pairs and metals.
• Method 2: cashback discounted directly into the spread fee. However, with this method, you can only receive a maximum of 75%, per the broker’s rules—i.e., $1.5/lot for Raw Spread accounts and $3/lot for Standard accounts. For example, when placing 1 lot of gold on a Standard account, normally the spread fee recorded on the trading platform is $11 for both sides as soon as you open the trade, but when cashback is set up, the spread fee will be recorded as $8.

Most traders will choose the first method because it allows them to receive up to 100% cashback.

How to receive IC Markets cashback

There are 2 cases for you to receive IC Markets cashback under the IB of Backcom101.io:

• Case 1: you already have an IC Markets account and it is not linked to any IB. In this case, you will connect your account to the IB code of Backcom101.io.
• Case 2: you do not have an IC Markets account yet, or you already have an account but it is linked under another IB. In this case, you must open a completely new IC Markets account.

Method 1: Connect your IC Markets account to the IB code of Backcom101.io

Step 1: Message Zalo 0868933361 to check whether your IC Markets account is linked under any IB. If not, continue to Step 2. If yes, switch to Method 2.

Step 2: Send an email to the following address: partners.apac@icmarkets.com

Subject: Connect account to IB 51531

Content: Please connect my account under IB 51531 for better service. Thank you.

After sending, wait for confirmation from IC Markets.

Step 3: After sending the email, message Zalo 0868933361 with the following information: email (registered with IC Markets), any MT4/MT5 account ID, and your bank account details to receive cashback.

Method 2: Open a new IC Markets account

Step 1: Go to the IC Markets website or click the link below to register an account https://icmarkets-vnk.com/?camp=51531

Step 2: Click the Start Trading Now button

Step 3: Fill in your personal information according to the form

Step 4: Continue providing personal information and enter the IB code: 51531

If you go directly to the IC Markets homepage to register an account, you must enter the IB code: 51531 in the Referrer ID field. If you click the link in Step 1, the system will auto-fill this section for you.

Step 5: Continue following the guided steps to open the account.

Step 6: Complete account verification in the IC Markets client area.

Step 7: Message Zalo 0868933361 to confirm whether cashback has been set up successfully, along with your bank account information to receive cashback.

Step 8: Deposit funds into your account and start trading to receive 100% IC Markets cashback

With that, you have completed registering to receive IC Markets cashback. During the process, if you encounter any issues or have any questions, you can message Zalo 0868933361 or the Telegram channel for the fastest support.