“Forex Cashback vs. Rebates: Which One Saves You More Money in 2024?”

In the fast-paced world of currency trading, every pip saved can translate to significant gains—especially in 2024, where market volatility and tighter spreads demand smarter cost-cutting strategies. Forex cashback vs rebates present two compelling ways to reduce expenses, but choosing the right option depends on your trading style, broker selection, and even the platforms you use. Whether you’re a high-volume scalper eyeing rapid-fire executions or a swing trader holding positions for days, understanding how these programs work—and which one puts more money back in your pocket—could be the difference between marginal profits and optimized returns. Let’s break down the mechanics, broker-specific nuances, and hidden fine print to determine which solution saves you more this year.

1. Mechanics of Forex Cashback vs. Rebates

Understanding the mechanics of forex cashback vs. rebates is essential for traders looking to optimize their cost savings in 2024. While both models aim to reduce trading expenses, they operate differently in terms of structure, eligibility, and payout mechanisms. This section breaks down how each system works, their advantages, and practical considerations for traders.

How Forex Cashback Works

Forex cashback is a reward system where traders receive a portion of their trading costs back, typically in the form of a percentage of the spread or commission paid per trade. Cashback programs are often offered by third-party providers, affiliate platforms, or even brokers themselves.

Key Features of Forex Cashback

1. Percentage-Based Rebates – Traders receive a fixed percentage (e.g., 10-30%) of the spread or commission per trade.
2. Frequency of Payouts – Cashback can be paid daily, weekly, or monthly, depending on the provider.
3. No Minimum Trading Volume – Some cashback programs offer rewards regardless of trade size, making them accessible to retail traders.
4. Broker Compatibility – Cashback is often available across multiple brokers, allowing traders to compare and switch brokers without losing benefits.

Example of Forex Cashback in Action

Suppose a trader executes 100 standard lots (1 lot = 100,000 units) per month with a broker charging a $7 commission per lot. If the cashback provider offers 20% cashback, the trader would receive:

• Total commissions paid: 100 lots × $7 = $700
• Cashback earned: 20% of $700 = $140 per month

This system directly reduces trading costs, making it particularly beneficial for high-frequency traders.

How Forex Rebates Work

Forex rebates, on the other hand, are typically offered as a fixed monetary amount per lot traded. Unlike cashback, which is percentage-based, rebates provide a set refund per trade, regardless of the spread or commission structure.

Key Features of Forex Rebates

1. Fixed Amount per Lot – Rebates are structured as a flat rate (e.g., $1-$5 per standard lot).
2. Volume-Based Incentives – Some rebate programs offer tiered rewards, where higher trading volumes unlock better rebate rates.
3. Broker-Specific Programs – Rebates are often tied to specific brokers, limiting flexibility compared to cashback.
4. Payout Structure – Rebates may be credited instantly, daily, or monthly, depending on the broker or provider.

Example of Forex Rebates in Action

A trader executing 200 standard lots per month with a rebate rate of $2 per lot would earn:

• Total rebates: 200 lots × $2 = $400 per month

This model is especially advantageous for scalpers and day traders who execute large volumes, as the fixed-per-lot structure ensures predictable savings.

Comparing the Mechanics: Forex Cashback vs. Rebates

| Feature | Forex Cashback | Forex Rebates |
|———————-|—————|————–|
| Reward Structure | Percentage of spread/commission | Fixed amount per lot |
| Best For | Traders with variable spreads/commissions | High-volume traders |
| Broker Flexibility | Works across multiple brokers | Often broker-specific |
| Payout Frequency | Daily, weekly, or monthly | Instant, daily, or monthly |
| Cost-Saving Potential | Higher for brokers with tight spreads | More predictable for scalpers |

Which One Saves More Money?

• Cashback is better for traders using brokers with variable or high commissions, as the percentage return scales with costs.
• Rebates are more profitable for traders executing large volumes, as the fixed-per-lot structure ensures consistent returns regardless of spread fluctuations.

## Practical Considerations When Choosing Between Cashback and Rebates
1. Trading Style & Frequency
– Scalpers and high-frequency traders benefit more from rebates due to volume-based rewards.
– Swing traders or those with lower volumes may prefer cashback for proportional savings.
2. Broker Selection
– Cashback providers often support multiple brokers, while rebates may be tied to specific brokers.
3. Transparency & Reliability
– Verify whether cashback/rebate providers have a history of timely payouts.
– Some brokers offer in-house rebates, reducing dependency on third parties.
4. Tax Implications
– In some jurisdictions, cashback and rebates may be considered taxable income—consult a financial advisor.

Conclusion

The mechanics of forex cashback vs. rebates reveal distinct advantages depending on a trader’s strategy, volume, and broker choice. Cashback offers flexibility and percentage-based savings, while rebates provide predictable, volume-driven returns. By assessing individual trading habits and cost structures, traders can determine which model maximizes their savings in 2024.
The next section will explore “2. Cost-Benefit Analysis: Forex Cashback vs. Rebates”, helping traders quantify potential savings based on different trading scenarios.

2. Broker-Specific Offerings

When comparing forex cashback vs rebates, one of the most critical factors to consider is how different brokers structure these incentives. Not all brokers offer the same terms, and the differences in their programs can significantly impact your overall trading costs and profitability. This section explores how broker-specific offerings influence the choice between cashback and rebates, providing practical insights to help traders maximize savings.

Understanding Broker-Specific Cashback and Rebate Programs

Forex brokers design their cashback and rebate programs to attract and retain traders. However, the mechanics, eligibility, and payout structures vary widely. Here’s how these programs typically differ across brokers:

1. Cashback Programs: Broker Variations

Forex cashback is a direct monetary reward paid to traders based on their trading volume, usually calculated per lot traded. Brokers may offer cashback in different ways:

• Fixed Cashback per Lot: Some brokers provide a set amount (e.g., $2 per standard lot) regardless of market conditions.
• Variable Cashback: Others adjust cashback rates based on account type, trading volume, or promotions.
• Tiered Cashback: High-volume traders may receive higher cashback rates as they trade more.

Example:

• Broker A offers a flat $3 cashback per standard lot.
• Broker B provides a tiered structure: $2 for the first 50 lots, $3 for 50-100 lots, and $4 beyond 100 lots.

Key Considerations:

• Payout Frequency: Some brokers pay cashback daily, weekly, or monthly.
• Withdrawal Conditions: Certain brokers impose minimum withdrawal thresholds or restrict cashback to active traders.

### 2. Rebate Programs: How Brokers Structure Them
Rebates, unlike cashback, are typically tied to spreads or commissions. They refund a portion of the trading cost, making them particularly useful for scalpers and high-frequency traders. Broker rebate structures include:

• Spread-Based Rebates: A percentage of the spread is returned (e.g., 0.5 pips per trade).
• Commission Rebates: A refund on paid commissions (e.g., 20% of the commission per trade).
• Hybrid Models: Some brokers combine spread and commission rebates.

Example:

• Broker X refunds 0.3 pips per trade on EUR/USD, where the average spread is 1 pip.
• Broker Y offers a 25% commission rebate on ECN accounts where the commission is $3.5 per lot.

Key Considerations:

• Rebate Eligibility: Some brokers exclude certain account types or trading strategies.
• Execution Speed Impact: Rebates may be more beneficial on brokers with tight spreads and fast execution.

## Comparing Broker-Specific Cashback vs. Rebates
To determine which option saves more money, traders must analyze broker-specific terms. Below is a comparative breakdown:
| Factor | Forex Cashback | Rebates |
|———————–|——————————————–|——————————————|
| Payout Structure | Fixed or tiered per-lot rewards | Percentage of spread/commission refunded |
| Best For | High-volume traders | Scalpers, tight-spread traders |
| Broker Dependency | More consistent across brokers | Varies significantly by broker |
| Profit Impact | Directly reduces cost per trade | Lowers effective spread/commission |

Case Study: Broker-Specific Savings

Let’s compare two hypothetical brokers to see which incentive works better:

• Trader Profile:

– Trades 50 standard lots per month
– Average spread: 1 pip on EUR/USD
– Commission: $3 per lot
| Broker | Cashback Offer | Rebate Offer | Monthly Savings |
|————|——————–|————————–|———————|
| Broker M | $2 per lot | N/A | $100 |
| Broker N | N/A | 0.5 pip rebate ($5 per lot) | $250 |
In this scenario, rebates save more due to the high trading volume and tight spreads. However, if the broker had wider spreads, cashback might be more advantageous.

How to Choose the Best Broker for Cashback or Rebates

1. Assess Your Trading Style
– Scalpers & High-Frequency Traders: Rebates are often better due to lower effective spreads.
– Swing & Position Traders: Cashback may be more beneficial since spreads matter less.
2. Compare Multiple Brokers
– Look beyond headline rates—check payout reliability and hidden restrictions.
3. Test with a Demo or Small Account
– Some brokers offer trial periods for cashback/rebate programs.
4. Watch for Hidden Costs
– A broker offering high rebates may have wider spreads, negating savings.

Final Thoughts

The decision between forex cashback vs rebates largely depends on broker-specific terms. While cashback provides predictable returns per lot, rebates can be more lucrative for traders who benefit from reduced trading costs. By carefully evaluating broker offerings, traders can optimize their savings and enhance profitability in 2024.
In the next section, we’ll explore “3. Calculating Potential Savings” to help you quantify which option works best for your strategy.

3. Trader Profiles & Optimal Savings

When it comes to reducing trading costs in forex, both cashback and rebates offer significant savings—but their effectiveness depends on your trading style, frequency, and strategy. Understanding which option aligns best with your trader profile is crucial for optimizing cost efficiency.
In this section, we’ll explore different trader profiles and how each can leverage forex cashback vs. rebates to maximize savings in 2024.
—

Understanding Trader Profiles

Forex traders vary widely in their approach, from high-frequency scalpers to long-term position traders. Each profile has distinct cost structures, making cashback or rebates more advantageous depending on volume, trade frequency, and broker selection.

1. High-Frequency Traders (Scalpers & Day Traders)

Characteristics:

• Execute dozens to hundreds of trades per day
• Rely on tight spreads and low latency
• Profit from small price movements

Optimal Savings Strategy:
For high-frequency traders, rebates (per-trade payouts) often provide better savings than cashback. Since these traders generate massive trade volumes, even a small rebate per lot adds up significantly.
Example:

• A scalper trades 50 standard lots per day with a $2.50 rebate per lot.
• Daily rebate earnings: 50 × $2.50 = $125
• Monthly (20 trading days): $2,500

Cashback Consideration:
While cashback (a percentage of spread/commission) can also benefit high-volume traders, rebates typically offer more predictable and higher returns for ultra-frequent trading.
—

2. Swing Traders (Medium-Term Holders)

Characteristics:

• Hold positions for days to weeks
• Trade less frequently but with larger position sizes
• Focus on technical and macroeconomic trends

Optimal Savings Strategy:
Swing traders benefit from a hybrid approach—combining cashback and rebates depending on broker conditions.

• Cashback works well if the broker offers a high percentage return on spreads.
• Rebates may still be useful if trading large lot sizes occasionally.

Example:

• A swing trader executes 10 trades per month, averaging 5 lots per trade.
• If the broker offers $3 rebate per lot: 10 × 5 × $3 = $150/month
• Alternatively, if the broker provides 0.5 pips cashback per trade, savings could be comparable or better depending on trade size.

Key Takeaway:
Swing traders should compare rebate structures vs. cashback percentages to determine which yields higher savings based on their typical trade size.
—

3. Position Traders (Long-Term Investors)

Characteristics:

• Hold trades for weeks to months
• Fewer trades but larger capital exposure
• Focus on fundamental analysis

Optimal Savings Strategy:
For position traders, cashback is often more beneficial than rebates because:

• They trade less frequently, so per-trade rebates contribute minimally.
• Cashback rewards are earned on every trade, including those held long-term.

Example:

• A position trader opens 2 trades per month, each 10 lots.
• With $1.50 rebate per lot: 2 × 10 × $1.50 = $30/month
• With 0.8 pips cashback per lot: 10 lots × 0.8 pips × $10 (per pip) = $80 per trade → $160/month

Conclusion:
Cashback provides better long-term value for position traders due to higher per-trade returns.
—

4. Retail Traders (Low-Volume, Small Accounts)

Characteristics:

• Trade mini or micro lots
• Limited capital, fewer monthly trades
• Often use brokers with higher spreads

Optimal Savings Strategy:
For retail traders, cashback is usually superior because:

• Rebates on micro lots are negligible (e.g., $0.10 per lot).
• Cashback helps offset wider spreads, improving net profitability.

Example:

• A retail trader executes 30 micro lots (0.1 lots each) per month.
• Rebate: 30 × $0.10 = $3/month
• Cashback (0.5 pips per trade): 30 × 0.5 pips × $1 (micro lot value) = $15/month

Recommendation:
Retail traders should prioritize brokers offering high cashback percentages rather than small rebates.
—

Broker-Specific Considerations

Not all brokers offer both cashback and rebates, so traders must evaluate:

• Cashback Programs: Best for brokers with higher spreads (e.g., market makers).
• Rebate Structures: Best for ECN/STP brokers with tight spreads but per-trade commissions.

Pro Tip: Some brokers allow stacking cashback and rebates, maximizing savings. Research forex cashback vs. rebates deals before selecting a broker.
—

Final Verdict: Which Saves More?

| Trader Profile | Best Savings Option | Why? |
|———————|———————-|———-|
| High-Frequency | Rebates | Higher volume = more rebate payouts |
| Swing Traders | Hybrid (Cashback + Rebates) | Depends on trade frequency & size |
| Position Traders | Cashback | Fewer trades, better % returns |
| Retail Traders | Cashback | Offsets wider spreads effectively |

Actionable Steps for Optimal Savings:

1. Analyze your trading style (frequency, lot size, broker type).
2. Compare cashback vs. rebate structures from different brokers.
3. Use a forex rebate/cashback calculator to estimate potential savings.
4. Negotiate with brokers—some offer custom cashback/rebate deals for high-volume traders.
By aligning forex cashback vs. rebates with your trader profile, you can minimize costs and maximize profitability in 2024.

4. Hidden Costs & Fine Print

When comparing forex cashback vs rebates, traders often focus on the immediate monetary benefits while overlooking the hidden costs and fine print that can significantly impact profitability. Both cashback and rebate programs promise to reduce trading expenses, but their terms and conditions may conceal fees, restrictions, or limitations that erode their value.
In this section, we’ll dissect the hidden costs, contractual obligations, and fine print associated with forex cashback and rebate programs, helping traders make an informed decision in 2024.
—

Understanding Hidden Costs in Forex Cashback Programs

Forex cashback programs refund a portion of the spread or commission paid on trades, usually credited to the trader’s account as real cash or bonus funds. However, several hidden factors can reduce their effectiveness:

1. Minimum Trading Volume Requirements

Many brokers impose minimum trading volume thresholds before cashback is paid out. For example:

• A broker may require 10 standard lots per month before releasing cashback.
• If a trader fails to meet this threshold, they may forfeit their cashback entirely.

Practical Example:
A trader expecting $200 in cashback may only receive $50 because they fell short of the required volume, effectively reducing their savings.

2. Withdrawal Restrictions

Some brokers offer cashback in non-withdrawable bonus funds, meaning traders can only use them for further trading—not as withdrawable profit. Others may impose high withdrawal fees that offset the cashback gains.
Key Question:

• Is the cashback provided as real money or bonus credits?
• Are there processing fees when withdrawing cashback earnings?

### 3. Spread Markups & Commission Adjustments
Some brokers offering cashback may widen spreads or increase commissions to compensate for the rebates. This means traders could end up paying more per trade, negating the cashback benefit.
Example Scenario:

• A broker advertises $5 cashback per lot but increases the spread from 1.0 to 1.5 pips.
• The trader pays an extra $5 per lot in spread costs, effectively nullifying the cashback.

—

Hidden Costs in Forex Rebate Programs

Forex rebates work differently—they return a fixed amount per traded lot, regardless of spread or commission. However, they also come with fine print that traders must scrutinize:

1. Tiered Rebate Structures

Many rebate providers use tiered payout models, where higher trading volumes unlock better rebates. However, the initial tiers may offer minimal returns.
Example:

• Tier 1 (1-50 lots/month): $2 rebate per lot
• Tier 2 (51-100 lots/month): $3 rebate per lot
• Tier 3 (100+ lots/month): $4 rebate per lot

A casual trader executing 30 lots/month earns $60, while a high-volume trader doing 120 lots/month earns $480—a significant difference.

2. Payment Delays & Processing Fees

Some rebate programs:

• Delay payments (e.g., monthly or quarterly payouts).
• Charge processing fees (e.g., 5% fee on withdrawals).

Impact:
A trader expecting $500 in rebates may receive only $475 after fees, reducing overall profitability.

3. Broker Restrictions & Eligibility

Not all brokers qualify for rebates. Some rebate providers:

• Exclude ECN/STP brokers (which typically offer tighter spreads).
• Only work with specific broker partnerships, limiting trader choice.

Trap to Avoid:
A trader might switch to a higher-spread broker just to qualify for rebates, ultimately paying more in trading costs than they earn back.
—

Comparing Cashback vs. Rebates: Which Has More Hidden Costs?

| Factor | Forex Cashback | Forex Rebates |
|————————–|——————-|——————|
| Minimum Volume Requirements | Often strict (e.g., 10+ lots/month) | Usually flexible (paid per lot) |
| Withdrawal Restrictions | May be non-withdrawable bonus funds | Usually real cash, but may have fees |
| Spread/Commission Adjustments | Brokers may widen spreads | Rebates are fixed, but broker spreads may still vary |
| Payment Delays | Typically credited instantly or monthly | Often monthly/quarterly payouts |
| Broker Limitations | Usually tied to one broker | May restrict broker choice |

Which Is Better for Avoiding Hidden Costs?

• Cashback is better for traders who:

– Stick to one broker and meet volume requirements.
– Prefer instant (but sometimes restricted) payouts.

• Rebates are better for traders who:

– Want fixed returns per lot.
– Trade across multiple brokers (if allowed).
—

Key Takeaways & How to Avoid Pitfalls

1. Read the Fine Print – Always check:
– Minimum volume requirements.
– Withdrawal policies (cash vs. bonus funds).
– Possible spread/commission markups.
2. Compare Net Savings – Calculate:
– Effective rebate per lot after fees.
– True spread cost after cashback adjustments.
3. Choose the Right Broker – Ensure the broker’s trading conditions align with your cashback/rebate strategy.

Final Thought:

While forex cashback vs rebates both offer cost-saving benefits, the hidden costs can erode profits if ignored. By carefully analyzing the fine print, traders can maximize their savings and avoid costly surprises in 2024.
—
Next Step: Now that you understand the hidden costs, let’s move to Section 5: Which One Saves You More? where we’ll compare real-world profitability scenarios.

5. Future of Forex Savings (2024+)

The forex market is evolving rapidly, driven by technological advancements, regulatory changes, and shifting trader preferences. As we look ahead to 2024 and beyond, cost-saving mechanisms like forex cashback and rebates will play an increasingly critical role in maximizing trader profitability. This section explores emerging trends, innovations, and strategic considerations that will shape the future of forex savings.

1. Technological Advancements Enhancing Forex Savings

AI and Machine Learning for Smarter Cashback & Rebates

Artificial Intelligence (AI) and machine learning are transforming how brokers and cashback providers optimize savings for traders.

• Dynamic Cashback Models: AI-driven platforms may soon offer personalized cashback rates based on trading behavior, volume, and risk profile. For example, high-frequency traders could receive higher rebates, while long-term position traders might benefit from tiered cashback structures.
• Automated Rebate Calculations: Advanced algorithms will ensure instant, error-free rebate payouts, reducing manual reconciliation and delays.

### Blockchain for Transparent Rebate Tracking
Blockchain technology could revolutionize forex rebates by introducing:

• Smart Contract Rebates: Self-executing contracts could automatically distribute rebates once trade conditions are met, eliminating broker disputes.
• Immutable Transaction Records: Traders could verify every cashback or rebate claim on a decentralized ledger, ensuring full transparency.

## 2. Regulatory Influence on Forex Savings Programs

Stricter Broker Compliance & Fair Rebate Policies

Regulators like the FCA, ASIC, and CySEC are tightening rules on broker incentives. Future trends may include:

• Standardized Rebate Structures: Regulators may enforce clearer disclosure requirements, ensuring traders understand how cashback and rebates impact their net trading costs.
• Ban on Conflicted Incentives: Some jurisdictions might restrict rebates tied to excessive trading, pushing brokers toward fairer, volume-based models.

### Tax Implications of Forex Cashback & Rebates
As governments scrutinize forex earnings, traders should expect:

• Clearer Tax Guidelines: Countries may classify cashback as taxable income, while rebates could be treated as trading cost reductions.
• Automated Tax Reporting: Brokers and cashback providers might integrate tax reporting tools to simplify compliance.

## 3. Evolving Broker Models & Competitive Savings Offers

Hybrid Cashback-Rebate Programs

To attract and retain clients, brokers may introduce hybrid models combining:

• Instant Cashback: Small, immediate rewards per trade.
• Tiered Rebates: Higher payouts for traders reaching specific volume thresholds.

Example: A broker could offer $2 cashback per lot plus an additional 0.5 pip rebate for traders exceeding 50 lots/month.

Subscription-Based Rebate Plans

Some brokers might adopt subscription models where traders pay a monthly fee for enhanced rebates, similar to premium memberships in other industries.

4. The Role of Forex Cashback & Rebates in a High-Frequency Trading (HFT) Future

With algorithmic and HFT strategies gaining traction, cashback and rebates will become essential for:

• Scalpers & HFT Traders: Even minor savings per trade compound significantly at high volumes.
• EA & Bot Users: Automated systems can be programmed to maximize rebate-eligible trades.

Case Study: A trader executing 500 lots/month with a $3 rebate per lot saves $1,500 monthly, drastically improving net profitability.

5. Emerging Markets & Forex Savings Accessibility

Global Expansion of Cashback Providers

Forex cashback platforms will expand into emerging markets (e.g., Southeast Asia, Africa), offering localized rebate programs.

Mobile-First Rebate Solutions

With mobile trading dominating, expect:

• App-Integrated Cashback: Instant notifications on rebate earnings via trading apps.
• Micro-Rebates for Small Traders: Fractional rewards for nano and micro-lot traders.

## Conclusion: Strategic Takeaways for Traders in 2024+
1. Leverage AI & Automation: Use platforms that optimize cashback/rebates dynamically.
2. Stay Compliant: Monitor regulatory changes affecting rebate eligibility and taxation.
3. Compare Broker Offers: Hybrid and subscription models may provide better long-term value.
4. Adapt to HFT Trends: High-volume traders should prioritize brokers with competitive rebate structures.
The future of forex savings lies in personalization, transparency, and automation. Whether you prefer forex cashback or rebates, staying informed will ensure you maximize savings in an increasingly competitive market.
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8 FAQs on Forex Cashback vs. Rebates (2024)

What’s the main difference between forex cashback and rebates?

• Forex cashback refunds a percentage of spreads/commissions per trade, ideal for frequent traders.
• Rebates offer fixed payouts per lot traded, better for high-volume traders.
• Key factor: Cashback rewards consistency; rebates reward scale.

Which saves more money in 2024: forex cashback or rebates?

It depends on your trading volume and frequency:

• Cashback wins for day traders (e.g., 50+ trades/month).
• Rebates suit swing traders executing large lot sizes.
• Compare broker-specific rates—some offer tiered cashback or rebate boosts.

Are there hidden costs in forex cashback or rebate programs?

Yes! Watch for:

• Minimum withdrawal thresholds (e.g., $50+ for cashback payouts).
• Time limits (rebates may expire if unused).
• Restricted account types (e.g., ECN vs. Standard).

Can I combine forex cashback and rebates for maximum savings?

A few brokers allow stacking, but most enforce one program per account. Always verify terms—hybrid programs are emerging in 2024.

How do I calculate potential earnings from forex cashback vs. rebates?

For cashback:

Earnings = (Spreads/Commissions per Trade × Cashback Rate) × Number of Trades

For rebates:

Earnings = Rebate per Lot × Total Lots Traded

Use a forex savings calculator (many brokers provide these).

Do all brokers offer forex cashback or rebates?

No. MetaTrader brokers and ECN/STP providers are most likely to offer these programs. Always check:

• Third-party cashback sites (e.g., CashbackForex).
• Direct broker promotions (e.g., rebates for VIP clients).

Will forex cashback or rebates affect my trading strategy?

Potentially. Cashback incentivizes frequent trading, which could lead to overtrading. Rebates encourage larger positions—assess risk tolerance first.

What’s the future of forex savings programs in 2024 and beyond?

Expect:

• AI-driven personalized rewards (e.g., dynamic cashback rates).
• More transparency (brokers disclosing hidden fees).
• Crypto integration (rebates paid in Bitcoin, etc.).

By staying informed, traders can leverage forex cashback vs. rebates to cut costs and boost profitability in 2024.