“Forex Rebates vs. Cashback: Understanding the Differences and Benefits in 2024”

In the fast-paced world of forex trading, every pip saved can translate to greater profitability—yet many traders overlook powerful tools designed to maximize their returns. Forex rebates vs cashback programs offer distinct ways to reduce trading costs, but understanding their differences is key to choosing the right one for your strategy in 2024. While rebates reward high-volume traders with per-trade refunds, cashback programs return a percentage of spreads or commissions, making them accessible to all. As broker competition intensifies and payout structures evolve, this guide will break down how each program works, their unique benefits, and how to leverage them for optimal savings. Whether you’re a scalper, swing trader, or long-term investor, unlocking these incentives could significantly impact your bottom line.

1. Core Definitions and Mechanics

Understanding the fundamental differences between forex rebates and cashback is essential for traders looking to maximize their profitability. While both mechanisms provide financial benefits, they operate under distinct structures and serve different purposes within the forex trading ecosystem.

1.1 What Are Forex Rebates?

Forex rebates are a form of compensation paid to traders for executing trades through a specific broker or introducing broker (IB). These rebates are typically a portion of the spread or commission that the broker earns from the trader’s activity.

Key Mechanics of Forex Rebates:

• Source of Rebates: Rebates are derived from the broker’s revenue, meaning they are a share of the trading costs (spread or commission) that the trader incurs.
• Payment Structure: Rebates are usually paid on a per-lot basis, meaning traders receive a fixed amount (e.g., $0.50 – $5 per standard lot) depending on the broker’s policy.
• Frequency: Payments can be daily, weekly, or monthly, depending on the rebate provider.
• Eligibility: Traders must register with a rebate service or an IB to qualify.

Example:
If a broker charges a $10 commission per standard lot and offers a 30% rebate, the trader receives $3 back per lot traded. Over time, this can significantly reduce trading costs.

Types of Forex Rebates:

1. Standard Rebates – A fixed amount per lot traded, regardless of trade outcome (win or loss).
2. Volume-Based Rebates – Higher rebates for traders with larger trading volumes.
3. Tiered Rebates – Increased payouts as traders reach higher trading tiers.

1.2 What Is Cashback in Forex?

Cashback in forex is a broader financial incentive that refunds a portion of a trader’s expenses, not limited to trading costs. Unlike rebates, cashback can apply to deposit bonuses, subscription fees, or other broker-related charges.

Key Mechanics of Cashback:

• Source of Cashback: Cashback can come from brokers, third-party platforms, or affiliate programs.
• Payment Structure: Often a percentage-based refund (e.g., 10% of net losses or a fixed deposit bonus).
• Frequency: Typically paid monthly or quarterly, depending on the program.
• Eligibility: May require signing up for a specific broker or using a cashback portal.

Example:
A broker offers a 10% cashback on net losses for the month. If a trader loses $1,000, they receive $100 back, softening the blow of losing trades.

Types of Forex Cashback:

1. Loss-Based Cashback – A percentage refund on net losses (common with prop firms).
2. Deposit Cashback – A bonus refunded upon depositing funds (e.g., 5% of the deposit amount).
3. General Spending Cashback – Refunds on non-trading expenses like VPS or educational subscriptions.

1.3 Key Differences Between Forex Rebates and Cashback

| Feature | Forex Rebates | Forex Cashback |
|———|————–|—————|
| Source | Broker’s spread/commission | Broker or third-party incentives |
| Calculation | Per-lot basis | Percentage of losses/deposits |
| Profit Dependency | Paid regardless of P&L | Often tied to losses or deposits |
| Best For | High-frequency traders | Traders with occasional losses |
| Payment Frequency | Daily/weekly/monthly | Monthly/quarterly |

Practical Insight:

• Rebates are ideal for scalpers and high-volume traders who benefit from consistent per-lot payouts.
• Cashback suits swing traders or those with fluctuating performance, as it provides a safety net on losses.

## 1.4 How Rebates and Cashback Impact Trading Costs
Both mechanisms reduce the effective cost of trading, but in different ways:

• Rebates directly lower transaction costs by refunding part of the spread/commission.
• Cashback indirectly compensates for losses or other expenses.

Example Scenario:

• A trader executes 100 standard lots with a $3 rebate per lot → $300 rebate earned.
• The same trader has $2,000 in net losses with a 10% cashback → $200 refunded.
• Net effect: The rebate provides a direct trading cost reduction, while cashback mitigates losses.

## 1.5 Choosing Between Rebates and Cashback
The best option depends on trading style and objectives:

• Opt for Rebates If:

– You trade frequently (scalping/day trading).
– You want consistent, predictable returns per trade.

• Opt for Cashback If:

– You have occasional losses and want a partial recovery.
– You seek deposit bonuses or refunds on ancillary costs.

Final Thought:

Understanding these core mechanics allows traders to strategically select rebates or cashback—or even combine both—to optimize their forex trading profitability in 2024.
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2. Key Differences: Rebates vs. Cashback

When trading forex, maximizing returns is a top priority for traders. Two popular ways to enhance profitability are through forex rebates and cashback programs. While both offer monetary benefits, they operate differently and cater to distinct trading strategies. Understanding the key differences between forex rebates vs cashback is essential for traders looking to optimize their earnings.
This section explores the structural, operational, and strategic distinctions between rebates and cashback, providing clarity on which option may be more suitable for different trading styles.
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1. Definition and Mechanism

Forex Rebates

Forex rebates are partial refunds paid back to traders based on their trading volume (usually per lot traded). These rebates are typically offered by Introducing Brokers (IBs) or affiliate programs linked to forex brokers.

• How It Works:

– Traders receive a fixed or variable rebate for each trade executed.
– The rebate is credited to the trader’s account, reducing overall trading costs.
– Example: A broker offers a $3 rebate per standard lot (100,000 units). If a trader executes 10 lots, they receive $30 in rebates.

Cashback Programs

Cashback in forex refers to a percentage or fixed amount returned to traders based on their spreads or commissions paid. Unlike rebates, cashback is often directly tied to transaction costs.

How It Works:

– Traders receive a portion of the spread or commission back after each trade.
– Cashback is usually calculated as a percentage (e.g., 10% of the spread).
– Example: If a trader pays $50 in spreads, a 10% cashback program returns $5 per trade.
Key Takeaway:

• Rebates are volume-based (per lot), while cashback is cost-based (percentage of fees).

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2. Payout Structure and Frequency

Forex Rebates

• Fixed or Variable Rates: Rebates can be a fixed amount per lot or vary based on trading volume.
• Accrual Method: Rebates accumulate over time and are paid weekly, monthly, or upon request.
• Example: A high-volume trader may negotiate higher rebates per lot with their IB.

### Cashback Programs

• Percentage-Based: Typically a set percentage of spreads/commissions.
• Instant or Delayed Payouts: Some brokers offer instant cashback, while others process it at the end of the month.
• Example: A broker may offer 20% cashback on spreads, meaning a $10 spread trade returns $2.

Key Takeaway:

• Rebates are more predictable (fixed per lot), while cashback fluctuates with trading costs.

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3. Impact on Trading Costs

Rebates: Lowering Effective Spreads

• Rebates reduce net trading costs by refunding a portion of the broker’s commission or spread.
• Best for high-frequency traders who execute large volumes.
• Example: A scalper trading 50 lots/month at $2 rebate per lot saves $100, effectively lowering transaction costs.

### Cashback: Direct Reduction in Fees

• Cashback directly offsets spreads or commissions, benefiting traders with wider spreads or higher commission structures.
• More advantageous for long-term traders who hold positions longer and pay more in spreads.
• Example: A swing trader paying $500 in monthly spreads with a 15% cashback gets $75 back.

Key Takeaway:

• Rebates favor volume traders, while cashback benefits traders with higher per-trade costs.

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4. Eligibility and Broker Dependence

Rebates: Often Require Third-Party Affiliation

• Traders usually need to sign up through an Introducing Broker (IB) or rebate portal.
• Not all brokers support rebates—must check broker policies.
• Example: A trader registers via an IB to receive rebates from Broker X.

### Cashback: Direct from Brokers

• Many brokers offer cashback directly without intermediaries.
• Some cashback programs are automatic, while others require enrollment.
• Example: Broker Y provides 10% cashback on all trades without needing an IB.

Key Takeaway:

• Rebates often involve intermediaries, while cashback is more broker-centric.

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5. Suitability for Different Trading Styles

| Factor | Forex Rebates | Cashback |
|———————-|——————|————–|
| Best For | High-volume traders (scalpers, day traders) | Traders with high spreads (swing traders, position traders) |
| Payout Structure | Fixed per lot | Percentage of spread/commission |
| Broker Dependence | Often requires IB | Usually direct from broker |
| Cost Reduction | Lowers net trading cost per lot | Reduces effective spread/commission |
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Conclusion: Which is Better?

The choice between forex rebates vs cashback depends on trading style, volume, and cost structure:

• Rebates are ideal for high-frequency traders who execute many trades and benefit from per-lot refunds.
• Cashback suits traders with wider spreads, as it returns a percentage of paid fees.

Some traders combine both strategies—using rebates for volume-based savings and cashback to offset high spreads. By understanding these differences, forex traders can make informed decisions to maximize profitability in 2024.
Next Section Preview: “3. Pros and Cons: Evaluating Rebates and Cashback in Forex Trading” will analyze the advantages and limitations of each model.
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This detailed breakdown ensures traders grasp the key differences between forex rebates vs cashback, helping them choose the best option for their strategy.

3. Benefits of Forex Rebates in 2024

Forex rebates have become an increasingly popular way for traders to reduce trading costs and enhance profitability. Unlike cashback programs, which offer generalized refunds on transactions, forex rebates are specifically tailored to trading activities, providing direct monetary returns based on trading volume. As we move into 2024, the advantages of forex rebates continue to evolve, offering traders a competitive edge in the fast-paced forex market.
This section explores the key benefits of forex rebates in 2024, highlighting why they remain a preferred choice for active traders over traditional cashback programs.

1. Reduced Trading Costs

One of the most significant advantages of forex rebates is their ability to lower overall trading expenses. Every forex trade involves spreads, commissions, or fees charged by brokers. Forex rebates return a portion of these costs to the trader, effectively reducing the cost per trade.

Practical Example:

A trader executing 100 standard lots per month with a broker charging a $5 commission per lot could pay $500 in commissions. With a forex rebate program offering $1 per lot, the trader receives $100 back, reducing net costs to $400.
Compared to cashback programs—which may offer a flat percentage on deposits or withdrawals—forex rebates directly offset trading expenses, making them more beneficial for high-frequency traders.

2. Enhanced Profitability for Active Traders

Forex rebates are particularly advantageous for active traders, scalpers, and algorithmic traders who execute numerous trades daily. Since rebates are volume-based, the more a trader trades, the more they earn in rebates.

Key Insight:

• Scalpers & High-Frequency Traders: These traders benefit significantly from rebates because even small per-trade savings accumulate into substantial amounts over time.
• Algorithmic Traders: Automated systems that place hundreds of trades daily can maximize rebate earnings, improving overall strategy profitability.

In contrast, cashback programs often provide fixed returns unrelated to trading activity, making them less lucrative for active market participants.

3. No Conflict with Trading Strategies

Unlike cashback promotions that may require traders to meet specific deposit or withdrawal conditions, forex rebates are earned purely based on executed trades. This means traders can maintain their preferred strategies—whether day trading, swing trading, or hedging—without altering their approach to qualify for rewards.

Comparison with Cashback:

• Cashback Programs: May impose restrictions, such as minimum deposit requirements or holding periods, which can interfere with trading flexibility.
• Forex Rebates: Reward traders purely for their trading activity, ensuring no disruption to their market approach.

## 4. Additional Income Stream
Forex rebates serve as a supplementary income source, particularly for professional traders and introducing brokers (IBs). Traders receive payouts (usually weekly or monthly) based on their trading volume, adding to their overall profitability.

Case Study:

A trader generating $1,000 in monthly rebates effectively earns an extra $12,000 annually—a substantial passive income boost without altering trading behavior.
Cashback programs, while useful, rarely provide such consistent and scalable returns since they are often tied to sporadic transactions rather than ongoing trading activity.

5. Broker Neutrality and Flexibility

Forex rebate providers typically work with multiple brokers, allowing traders to choose their preferred brokerage while still benefiting from rebates. This flexibility ensures traders are not locked into a single broker just to receive rewards.

Advantage Over Cashback:

• Cashback: Often limited to specific brokers or payment methods.
• Rebates: Available across a wide network of brokers, giving traders more freedom in broker selection.

## 6. Transparency and Predictability
Forex rebate programs usually offer clear, predefined payout structures—traders know exactly how much they will earn per lot or per trade. This transparency helps in financial planning and risk management.

Example Rebate Structure:

| Broker Commission | Rebate per Lot | Net Cost After Rebate |
|——————-|—————-|———————–|
| $7 | $2 | $5 |
| $10 | $3 | $7 |
Cashback programs, on the other hand, may involve complex terms, such as tiered rewards or expiration dates, making earnings less predictable.

7. Better Suited for Professional and Institutional Traders

Institutional traders, fund managers, and high-net-worth individuals benefit greatly from forex rebates due to their large trading volumes. Rebate programs often provide customized solutions for such traders, including higher rebate rates or direct broker negotiations.

Why Cashback Falls Short:

Cashback offers are generally standardized and do not scale effectively for high-volume traders, whereas rebates grow proportionally with trading activity.

8. Long-Term Cost Efficiency

Forex rebates contribute to long-term savings, especially for traders who remain active over extended periods. Unlike one-time cashback bonuses, rebates provide continuous returns, improving the trader’s cost-efficiency over time.

Long-Term Impact:

A trader receiving $500 monthly in rebates saves $6,000 annually—a considerable reduction in trading expenses that enhances net profitability.

Conclusion: Why Forex Rebates Outperform Cashback in 2024

While both forex rebates and cashback programs offer financial benefits, rebates are uniquely structured to align with traders’ needs. They provide direct cost reductions, scalability for active traders, and an additional income stream without restrictive conditions.
For traders seeking to maximize profitability in 2024, forex rebates present a more strategic and sustainable advantage over generic cashback offers. By leveraging rebate programs, traders can significantly lower costs, enhance earnings, and maintain full control over their trading strategies.
In the next section, we will compare forex rebates and cashback in greater detail, helping traders determine which option best suits their trading style and financial goals.

4. Benefits of Cashback in 2024

Cashback programs have become an increasingly popular incentive in the financial markets, particularly in forex trading. Unlike forex rebates, which are tied to trading volume and broker commissions, cashback offers traders direct monetary returns on their transactions, regardless of profitability. As we move into 2024, cashback programs are evolving with enhanced features, making them a compelling choice for traders. Below, we explore the key benefits of cashback in forex trading and how they compare to traditional rebates.

1. Direct Monetary Rewards Regardless of Trade Outcome

One of the most significant advantages of cashback is that traders receive a fixed percentage or amount back on every trade, win or lose. Unlike forex rebates, which are often calculated based on spread markups or commission structures, cashback is straightforward—traders earn a rebate on executed trades, providing an immediate financial cushion.
Example:
If a trader executes 100 standard lots with a cashback rate of $1 per lot, they receive $100 back, irrespective of whether their trades were profitable. This contrasts with rebates, where the payout depends on broker commission structures.

2. Reduced Effective Trading Costs

Cashback effectively lowers the cost of trading by offsetting spreads, commissions, or swap fees. For high-frequency traders or scalpers who execute numerous trades daily, even a small cashback per trade can accumulate into substantial savings over time.
Practical Insight:
A trader with a $5 commission per trade who receives $1 cashback per trade reduces their net cost to $4. Over 1,000 trades, this results in $1,000 in savings—a tangible reduction in overall trading expenses.

3. Enhanced Flexibility and Accessibility

Cashback programs are often more flexible than forex rebates because they are not tied to specific brokers or affiliate agreements. Many third-party cashback providers allow traders to claim rewards across multiple brokers, whereas rebates are typically broker-specific.
Comparison:

• Forex Rebates: Usually require trading through an introducing broker (IB) or affiliate link.
• Cashback: Can be claimed independently, sometimes even retroactively, offering greater freedom.

## 4. Incentive for Consistent Trading Activity
Cashback acts as a motivational tool, encouraging traders to remain active in the markets. Since rewards are granted per trade, traders benefit from consistent participation, making it an attractive option for both beginners and experienced traders.
Use Case:
A part-time trader who executes 50 trades a month at $0.50 cashback per trade earns an extra $25 monthly, supplementing their income without needing profitable trades.

5. Transparency and Predictability

Cashback structures are typically transparent, with fixed rates per lot or trade. Traders can easily calculate expected returns, unlike forex rebates, which may vary based on broker policies or fluctuating commission structures.
Example:
A cashback program offering $0.80 per lot allows traders to forecast earnings precisely, whereas rebates tied to spreads may fluctuate with market conditions.

6. Compatibility with Various Trading Strategies

Cashback is strategy-agnostic, benefiting scalpers, day traders, and long-term investors alike. Since rewards are trade-based, traders using high-frequency strategies gain more, but even position traders benefit from partial cost recovery.
Strategy-Based Benefit Breakdown:
| Strategy | Cashback Advantage |
|———————|———————–|
| Scalping | High volume = More cashback |
| Swing Trading | Moderate cashback accumulation |
| Long-Term Investing | Smaller but steady cashback over time |

7. Potential for Passive Income Streams

Some cashback platforms allow traders to combine cashback with referral programs, enabling additional earnings. By referring other traders, users can earn a percentage of their referees’ cashback, creating a secondary income source.
Practical Example:
A trader refers five friends who collectively generate $500 in cashback monthly. If the referral bonus is 10%, the trader earns an extra $50 passively.

8. Mitigation of Losses in Volatile Markets

In highly volatile markets where trading risks are elevated, cashback serves as a partial hedge against losses. Even if trades result in a net loss, the cashback earned reduces the overall deficit.
Scenario:
A trader loses $1,000 in a month but earns $200 in cashback, effectively reducing the net loss to $800.

9. Growing Popularity and Technological Integration in 2024

In 2024, cashback programs are becoming more sophisticated, with AI-driven platforms offering dynamic cashback rates based on trading behavior. Some brokers now integrate cashback directly into trading platforms, automating payouts without requiring manual claims.
Innovation Trend:

• Automated Cashback Tracking: Real-time dashboards showing accrued cashback.
• Tiered Rewards: Higher cashback for increased trading volumes.
• Cryptocurrency Cashback: Some platforms now offer crypto-based cashback, appealing to digital asset traders.

## Conclusion: Cashback vs. Forex Rebates in 2024
While forex rebates remain valuable for high-volume traders working with specific brokers, cashback offers broader accessibility, transparency, and flexibility. In 2024, cashback programs are evolving to provide greater automation, higher rewards, and multi-asset applicability, making them an essential consideration for traders looking to optimize cost efficiency and profitability.
By leveraging cashback, traders can reduce costs, generate supplementary income, and trade with an added layer of financial security—advantages that position cashback as a compelling alternative or complement to traditional rebates.

5. How to Choose: Rebates or Cashback?

When deciding between forex rebates and cashback, traders must carefully evaluate their trading style, frequency, and financial goals. Both programs offer monetary benefits, but their structures cater to different needs. Understanding the nuances of each can help you maximize your returns while minimizing costs.

Key Factors to Consider When Choosing Between Rebates and Cashback

1. Trading Frequency and Volume

One of the most critical factors in choosing between forex rebates and cashback is your trading frequency.

• Forex Rebates are ideal for high-frequency traders who execute numerous trades daily or weekly. Since rebates are paid per trade (usually as a portion of the spread or commission), active traders accumulate more significant earnings over time.

– Example: A scalper making 50 trades per day with a $0.50 rebate per lot earns $25 daily—translating to substantial monthly gains.

• Cashback programs, on the other hand, may offer fixed or percentage-based returns on deposits or losses. These are better suited for traders who trade less frequently but still want to recover some costs.

– Example: A swing trader depositing $5,000 might receive a 5% cashback ($250) regardless of trading volume.
Verdict: High-volume traders benefit more from rebates, while occasional traders may prefer cashback.

2. Cost Structure: Spreads vs. Commissions

The type of broker you use (spread-based or commission-based) influences which program is more advantageous.

• Rebates work best with commission-based brokers, where traders pay a fixed fee per trade. Rebates offset these costs directly.

– Example: If a broker charges $5 per lot and offers a $2 rebate, the net cost drops to $3.

• Cashback is more flexible and can apply to both spread-based and commission-based accounts. Some brokers offer cashback on net losses, helping traders recover a portion of their drawdowns.

Verdict: Rebates are optimal for commission-heavy accounts, while cashback is versatile across account types.

3. Short-Term vs. Long-Term Trading Strategies

Your trading horizon also impacts which program is more beneficial.

• Scalpers and day traders (short-term) benefit from rebates because they capitalize on small, frequent gains. Even minor rebates per trade add up significantly over hundreds of transactions.
• Position and swing traders (long-term) may not trade often enough to make rebates worthwhile. Instead, cashback on deposits or occasional trades provides better value.

Verdict: Short-term traders should prioritize rebates; long-term traders may prefer cashback.

4. Broker Restrictions and Program Terms

Not all brokers offer both rebates and cashback, and program terms vary widely.

• Rebate Programs:

– Often provided through third-party rebate services (e.g., Cashback Forex, Forex Rebates).
– May require a minimum trading volume to qualify.

• Cashback Programs:

– Sometimes tied to promotions (e.g., deposit bonuses).
– May have withdrawal restrictions or expiry dates.
Verdict: Always review broker terms—some may limit rebate eligibility or cap cashback amounts.

5. Risk Appetite and Profitability

Your risk tolerance and profitability influence which program aligns with your strategy.

• Rebates reward active trading, meaning they are most beneficial if you consistently execute profitable trades. However, overtrading just to earn rebates can lead to losses.
• Cashback acts as a safety net, especially if you experience losses. Some brokers refund a percentage of net losses, softening the blow.

Verdict: If you’re a disciplined trader, rebates enhance profits. If you’re risk-averse, cashback provides a cushion.

Practical Example: Rebates vs. Cashback in Action

Let’s compare two traders:

Trader A (High-Frequency Day Trader)

• Strategy: Scalping, 100 trades/day
• Rebate: $0.50 per lot
• Monthly Trades: 2,000
• Total Rebate Earnings: $1,000

### Trader B (Swing Trader)

• Strategy: 10 trades/month
• Cashback: 5% on $10,000 deposit
• Total Cashback: $500

Here, Trader A gains more from rebates, while Trader B benefits from cashback without needing high volume.

Final Decision-Making Checklist

To determine whether forex rebates or cashback is better for you, ask:
1. How often do I trade?
– Frequent → Rebates
– Occasional → Cashback
2. What’s my broker’s fee structure?
– Commission-based → Rebates
– Spread-based → Cashback may be better
3. What’s my trading style?
– Short-term → Rebates
– Long-term → Cashback
4. Do I need a loss buffer?
– Yes → Cashback
– No → Rebates
5. Are there broker restrictions?
– Check terms before committing.

Conclusion

Choosing between forex rebates and cashback depends on your trading habits, broker model, and financial objectives. Rebates are ideal for active traders looking to reduce costs per trade, while cashback suits those who prefer occasional rewards or loss protection. By analyzing your strategy and comparing broker offerings, you can select the program that maximizes your forex trading profitability in 2024.
Would you like further insights on optimizing rebates or cashback with specific brokers? Let us know in the comments!

8 FAQs on Forex Rebates vs. Cashback in 2024

What is the main difference between forex rebates and cashback?

• Forex rebates are paid per trade (e.g., a fixed amount or percentage of spread/commission).
• Cashback is a lump-sum refund based on total trading volume or losses.

Rebates suit frequent traders, while cashback offers flexibility for all traders.

Which is better for scalpers: forex rebates or cashback?

Forex rebates are typically better for scalpers due to their per-trade structure. Since scalpers execute many trades, small rebates per transaction accumulate faster than periodic cashback payouts.

Do all brokers offer forex rebates and cashback?

No—rebates and cashback are often provided through third-party programs or specific broker partnerships. Always verify a broker’s rebate/cashback policy before signing up.

Can I combine forex rebates and cashback?

Some brokers allow stacking rebates and cashback, but this is rare. Most programs require choosing one. Compare terms to see which aligns with your trading style.

How do forex rebates reduce trading costs?

• Rebates lower effective spreads/commissions.
• High-frequency traders see compounded savings.
• They’re automatic, requiring no extra effort.

Are cashback rewards taxable?

In many jurisdictions, cashback is considered a discount rather than income, but tax laws vary. Consult a financial advisor to ensure compliance.

Which offers faster payouts: rebates or cashback?

• Rebates: Often instant or daily.
• Cashback: Usually weekly/monthly.

Frequent traders may prefer rebates for quicker liquidity.

How do I choose between rebates and cashback in 2024?

Consider:

• Trading volume (high = rebates, low = cashback).
• Payout frequency needs.
• Broker compatibility.

Test both if possible to see which maximizes your returns.