When you have been participating in the foreign exchange market for a while, you must have been familiar with the name Backcom Exness. Many brokers sometimes invite you to join this program. However, to better understand Backcom Exness, you should read the article below from EX Trading

Overview of Backcom Exness

Exness is one of the forex trading exchanges with the best services on the market, licensed by international organizations. Exness provides investors with many incentives in addition to absolute trust. 

So, if you are learning about Exness or have joined Exness, take some time to understand more deeply, including the Backcom program.

What is the backcom of Exness?

Backcom Exness is a cashback program for investors. The refunded money is the commission fee that the investor is deducted when opening an order. Backcom’s full name is Back Commission, in which Back is refunded, the commission is commission.

Subjects are entitled to participate in the Backcom program 

Not everyone who trades on Exness can participate in the Backcom program. Here, it is stipulated that the subject must have an introducing broker, which means they must trade through IB (Introducing Broker). 

At Exness, Backcom is considered to be the only incentive package, beneficial for both investors and IBs on the exchange.

Learn about Introducing Broker (IB)

• Introducing Broker (IB) is an English term, translated as introducing an employee or introducing a broker. IB is an intermediary that helps connect investors with the foreign exchange market.
• Exness’s IB is responsible for convincing potential traders to participate in Forex trading on Exness. 
• IBs, like reviewers, are people who evaluate products and receive commissions when orders are placed or advertising money is received from suppliers. Here, IB is also the one who evaluates Backcom and advises participating investors.

Refund mechanism of Backcom program:

• To participate in Backcom on the Exness forex exchange, traders need a Standard Plus account.
• First, IB will send you an introduction link, you will open an investment account at Exness.
• After you deposit money into Exness and open a real order to trade, the IB will receive a commission from Exness.
• The more money an investor deposits and the more matched orders, the higher IB’s commission.
• When joining Backcom, traders will receive a refund of the lost commission fee based on the actual commission received by IB.

In conclusion, Backcom is a program that both investors and IBs benefit from. Commissions and refunds do not depend on whether the investor makes a profit or loss when placing an order. They are calculated as usual, based on trading volume and order placement rate. In addition, traders should learn about swap charges in Exness to get enough information!

How much is the refund fee for the Backcom program on Exness?

Up to now, Exness has not fixed the % refund fee for investors through the Backcom program. 

Backcom is simply a program that ensures benefits and maintains a relationship between traders and IBs. Therefore, the money refunded to investors will be calculated by the IB itself and given based on the actual commission received by the IB.

IB will balance to keep investors with them for the longest time. Once investors understand Backcom, they should negotiate the % refund fee with IB. This also helps you ensure your own benefits.

See more: Open Exness Account: Latest guide for new traders

Instructions on how to join Backcom Exness

The 4.0 era with the strong development of technology leads to the explosion of investing to make money online. Since then, the number of Forex brokers and investors has increased rapidly. Backcom Exness is attracting more and more investors. 

To join Backcom at Exness, follow the simple steps below:

Step 1: Connect with reputable IBs (Forex brokers).

Are you learning about Forex investment or interested in opening an account on Exness? Don’t worry, IB are professional brokers who will answer all your questions. 

Some people blindly open accounts and trade on their own without strategy and direction. They have to go through a period of training to be able to reap the first profits.

To save time and invest effectively, you can search and connect with reputable IBs. IB will advise you on how to open an account, how to place orders, highly profitable currency pairs,…

Today, on social networks, there are also many people who pretend to be professional IB but are actually amateurs. So, you should chat with many IBs and make the right choice. Sources for finding IB include Forex FB groups, Zalo, websites,… 

Note:

• When connecting, please openly and frankly discuss with the IB about the refunded fee to avoid disadvantages later. 
• The refund fee is only charged when you enter the market via IB’s referral link.

Step 2: Open a Standard Plus account at Exness

What is Standard Plus Exness? This is a Standard account with higher spreads than regular Standard accounts, opened by IB for investors. It can be said that Standard Plus is a tight connection between IB and investors. 

Note, that regular Standard accounts cannot join Backcom. You must ask IB for instructions on opening a Standard Plus account. 

Step 3: Fill in the IB referral code

After the Standard Plus account is created, a request to enter an IB referral code will appear. Each IB will have a unique referral code. You need to enter this code correctly to link with IB in Backcom.

Step 4: Place order matching

• First, you deposit money into your real account on Exness. 
• Next, select the currency pair and place an order. When the order is matched, the IB receives a commission. 
• After that, part of the commission IB receives will automatically be refunded to the investor’s account. % commission agreed in advance between the two parties.

See more: Exness Bonus Program Opens Profitable Opportunities for Traders

When will Backcom money arrive in my Exness account?

You must always remember that Backcom money is not regulated by Exness but is reimbursed to you by the IB based on the commission they receive. 

Normally, after a trader places an order, Exness will transfer the commission immediately to the IB account. As for Backcom money, the refund time and refund fee will be based on the content agreed upon by the two parties. 

Investors can receive backcom money just a few minutes after placing a matched order, sometimes it can take a few days. However, IB will try to immediately refund backcoms to customers to attract and retain investors.

If a trader places an order at the beginning or end of the week, Exness needs time to process. It takes at least 12 hours to 1 day for the commission to be transferred to the IB. Accordingly, the backcom amount that traders receive will also take longer than other days.

Should I join Exness Backcom?

If you regularly trade large volumes on Exness, join Backcom. 

With Backcom Exness, you’ve just been given a job by IB. Even though you have to pay an indirect commission to IB, IB still refunds you. Backcom ensures the principle of mutual benefit.

A reputable IB is someone who has in-depth knowledge of Forex and understands Exness better than anyone. Joining Backcom is clear and transparent, with no potential risks if you choose a reputable IB. 

Hopefully, through the article, you have a clear understanding of the Backcom Exness program and consider participating. If you have any questions, please leave a comment below the article!