Forex Cashback and Rebates: How to Utilize Rebate Strategies for Scalping and Day Trading Success

For the active scalper or day trader, where every pip is a battle and transaction costs can silently erode profits, finding a consistent edge is the ultimate pursuit. Implementing sophisticated forex rebate strategies transforms these unavoidable trading costs from a liability into a powerful asset. This guide is dedicated to unveiling how forex cashback and rebates are not merely a loyalty perk but a core tactical component for high-frequency trading success. We will deconstruct how to systematically leverage these rebates to lower your break-even point, amplify your net gains, and build a more resilient and profitable trading operation.

1. What Are Forex Rebates? Demystifying the Cashback Model

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Let’s translate this model into a practical scenario to illustrate its impact, which is crucial for developing effective forex rebate strategies.
Assume you are a day trader using a broker that charges a 1.0 pip spread on the EUR/USD pair. Without a rebate program, your cost to open a standard lot (100,000 units) trade is $10 (1.0 pip $10 per pip).
Now, you enroll in a rebate program that offers a返金 of 0.3 pips per trade. The mechanics are as follows:
You Open a Trade: You buy 1 standard lot of EUR/USD. Your initial trading cost is $10.
The Rebate is Calculated: Your rebate provider tracks this trade. The promised rebate is 0.3 pips, which equates to $3 (0.3 pips $10 per pip).
The Rebate is Paid: This $3 is credited to your account, either per trade, daily, or weekly.
Net Result: Your effective trading cost for that single trade drops from $10 to $7. This 30% reduction in transaction costs is not merely a minor saving; it is a fundamental enhancement to your trading edge.
For a high-frequency scalper executing 20 trades per day, the arithmetic becomes compelling:
Daily Cost without Rebates: 20 trades $10 = $200
Daily Rebate Earned: 20 trades $3 = $60
* Effective Daily Cost: $200 – $60 = $140
Over a 20-trading-day month, this scalper would recover $1,200 in transaction costs. This cashback directly improves the trader’s bottom line, turns breakeven trades into profitable ones, and provides a crucial buffer during drawdown periods.

Types of Rebate Structures

Understanding the different payment structures is vital for aligning rebate programs with your specific forex rebate strategies.
1. Fixed Pip Rebate: The provider offers a fixed pip amount返金 on every traded lot, regardless of the instrument or the actual spread. This model offers predictability, which is highly valued by scalpers who trade highly liquid pairs with tight spreads.
2. Fixed Cash Rebate: A specific monetary amount (e.g., $2.50) is返金 per lot traded. This is simply a different way of expressing a fixed rebate.
3. Percentage-based Rebate: The返金 is a percentage of the spread or commission paid. This model can be more lucrative when trading pairs with wider spreads but offers less predictability.

Why Rebates are a Strategic Imperative, Not Just a Perk

For the active trader, particularly the scalper or day trader, rebates should be viewed as a non-negotiable component of their operational setup. The relentless focus on minimizing costs is what separates consistently profitable traders from the rest. In a domain where strategies often yield small, frequent profits, transaction costs are the primary adversary. A robust rebate program systematically dismantles this adversary.
By directly reducing the cost of entry and exit, rebates effectively widen the profit zone for every trade. A strategy that requires a 2-pip move to break even without a rebate might only need a 1.7-pip move with a rebate. This difference is monumental in scalping, where profit targets are often just a few pips. It provides more room for error and increases the statistical probability of a strategy’s success over thousands of trades.
In conclusion, forex rebates are far more than a simple cashback perk; they are a sophisticated financial tool that optimizes the economics of trading. By understanding the cashback model’s ecosystem, mechanics, and strategic implications, traders can consciously integrate forex rebate strategies into their approach, transforming a portion of their trading costs into a steady stream of returns that compounds significantly over time.

1. How to Choose a Rebate Provider: Key Reliability and Transparency Factors

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A rebate is only as good as its receipt. A provider’s reliability is the bedrock upon which trust is built and is non-negotiable for traders who depend on this cashflow to offset trading capital or as a direct revenue source.
1. Financial Stability and Track Record:
The first metric to assess is the provider’s longevity and financial health. A company that has operated successfully for several years through various market cycles is more likely to have robust systems and sufficient capital reserves to honor its payouts. Scrutinize their “About Us” page, look for press releases, and check their registration details. A provider operating as a transparent legal entity inspires more confidence than an anonymous website.
Practical Insight: Before committing, search trader forums and independent review sites for user experiences. Pay specific attention to comments about payout consistency during volatile market periods, such as major news events, when trading volumes—and thus rebate obligations—spike. A provider that falters during high stress is a liability to your forex rebate strategies.
2. Payout Frequency and Methods:
Reliability is also defined by predictability. You must understand the provider’s payout schedule and mechanisms.
Frequency: Options typically range from weekly to monthly. For active scalpers, a weekly payout is preferable as it improves cash flow and allows for quicker reinvestment or withdrawal of profits.
Method: Examine the available withdrawal options (e.g., bank transfer, Skrill, Neteller, PayPal, or even direct broker account credit). Ensure the methods are convenient for you and be wary of excessive fees that could erode your rebate earnings.
3. Broker Partnership Stability:
A rebate provider is an intermediary between you and your broker. Their ability to provide rebates is contingent on their formal partnership with that broker. A reliable provider will have established, long-term relationships with a curated list of reputable brokers. Be cautious of providers offering rebates for obscure or poorly regulated brokers, as this can be a red flag for the stability of the partnership itself.

The Pillar of Transparency: Verifying What You Earn

Transparency is what separates a legitimate partner from a mere middleman. Without it, you cannot accurately calculate your true trading costs or the real value of your forex rebate strategies.
1. Clear and Accessible Rebate Calculation:
The provider must offer a crystal-clear, real-time calculation of your rebates. This is paramount.
The “My Account” Dashboard: The best providers offer a secure client portal where you can see a detailed breakdown of every trade, including:
Trade volume (lots)
The rebate rate per lot (e.g., $0.80 per standard lot per side)
The exact rebate earned for that trade
A running total of accrued rebates.
Practical Example: Imagine you are a day trader using a EUR/USD scalping strategy. You execute 20 trades in a day, totaling 15 standard lots. If your rebate rate is $1.00 per lot, your daily rebate should be a clear $15.00 in your dashboard. Any ambiguity in this calculation is a major warning sign.
2. No Hidden Terms and Conditions:
Scrutinize the provider’s Terms of Service. Key areas to investigate include:
Minimum Payout Thresholds: Is there a minimum amount you must accumulate before you can withdraw? If so, ensure it is reasonable.
Inactivity or Account Closure Fees: Some providers may charge fees if your trading account becomes inactive or if you close your broker account. These can unexpectedly diminish your earnings.
* Rebate Eligibility: Are all account types and trading strategies eligible? Some providers may exclude certain ECN accounts or specific types of trades. For scalpers, it is critical to confirm that high-volume, short-term trading is not only allowed but welcomed.
3. Independent Verification and Tracking:
Your rebate earnings should not exist in a vacuum. The most transparent providers use systems that allow you to cross-reference the trade data in your rebate account with the trade history in your live trading account with the broker. This independent verification is the ultimate test of a provider’s integrity.
Conclusion for the Section:
Selecting a rebate provider is a strategic decision that demands due diligence. Do not be seduced solely by the highest rebate rate; a slightly lower rate from a demonstrably reliable and transparent partner is infinitely more valuable than a premium rate from an opaque and unstable one. Your forex rebate strategies are designed to enhance your trading edge, not introduce counterparty risk. By prioritizing providers who excel in timely payouts, clear communication, and verifiable tracking, you integrate a dependable, profit-boosting engine directly into your scalping or day trading business model.

2. How Rebates Work: The Relationship Between You, Your Broker, and the Rebate Provider

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Practical Implications for Your Trading Strategy

For the active trader, this relationship is transformative.
Direct Impact on Profitability: Consider a scalper who trades 50 standard lots per day. With a rebate of $7.00 per lot, they earn $350 daily from rebates alone, equating to $7,700 monthly (assuming 22 trading days). This income directly counteracts the spreads and commissions paid, dramatically improving net profitability.
Enhanced Risk Management: The rebate income provides a small but consistent buffer against losses. It allows for slightly wider stop-loss placements without negatively impacting the risk-reward ratio, offering more breathing room for your trades.
Strategy Validation: A key forex rebate strategy involves selecting brokers that offer the best combination of tight raw spreads (essential for scalping) and high rebates. The goal is to minimize the net cost of trading. For example, Broker A might have a 0.1 pip raw spread + a $5 commission and offer a $4 rebate, resulting in a net cost of $1. Broker B might have a 0.9 pip fixed spread (no commission) and offer a $7 rebate, resulting in a net cost of $2. The calculation must always be made to find the most cost-effective setup.
In summary, the relationship between you, your broker, and the rebate provider is not adversarial but collaborative. You receive a portion of the broker’s acquisition budget directly, transforming your high trading volume from a pure cost liability into a hybrid cost-and-income model. By strategically selecting your partners and understanding this cash flow dynamic, you can build a more resilient and profitable trading operation, making rebates an indispensable tool for the modern scalper and day trader.

2. Selecting a Scalping-Friendly Broker for Maximum Rebate Earnings

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In scalping, where profit targets are often just a few pips, execution quality is paramount. Two primary execution models dominate the market:
1. Electronic Communication Network (ECN) / Straight Through Processing (STP) Brokers: These brokers aggregate liquidity from multiple banks and liquidity providers, offering direct market access. The key advantages for scalpers are:
Raw Spreads: ECN/STP brokers typically charge a small, fixed commission per trade but offer raw, interbank spreads that can start from 0.0 pips on major pairs. This transparency is crucial for calculating precise entry and exit points.
Minimal Requotes & Slippage: Due to direct market access, orders are filled instantly at the best available price, drastically reducing the frequency of requotes—a scalper’s nemesis. While slippage can occur in volatile markets, it is generally lower and can be both positive and negative.
2. Market Maker (Dealing Desk) Brokers: These brokers often act as the counterparty to your trades. While some are reputable, the inherent conflict of interest can lead to wider fixed spreads and a higher incidence of requotes, especially during news events, as the broker seeks to manage its own risk.
For a scalper, an ECN/STP broker is almost always the superior choice. The combination of tight, transparent spreads and fast, reliable execution creates a predictable trading environment where a forex rebate strategy can be accurately modeled and relied upon.

Once you have identified brokers with a scalping-permissive policy and high-quality ECN/STP execution, the next step is to analyze their compatibility with rebate programs. Your goal is to select a broker whose fee structure synergizes with a cashback service to minimize your net trading cost.
Commission-Based vs. Spread-Only Accounts: If you are using a rebate program that pays a fixed amount per lot, your net cost per trade becomes: `(Spread Cost + Commission) – Rebate`. On an ECN account with a 0.1 pip spread and a $5 commission, a $7 rebate per lot turns a cost into a net gain. Conversely, on a spread-only account with a 1.5 pip fixed spread (equivalent to $15), the same $7 rebate only partially offsets the higher inherent cost. Therefore, low-commission ECN accounts often provide the most fertile ground for maximizing rebate earnings.
Broker-Run Loyalty Programs vs. Independent Rebate Providers: Some brokers offer their own in-house cashback or volume-based rebate schemes. While convenient, these are often less generous than those offered by dedicated third-party rebate providers. Independent providers aggregate the trading volume of thousands of clients, granting them significant negotiating power to secure higher rebate rates from brokers. Furthermore, using a third-party service allows you to choose the best broker for your strategy independently of the rebate source, rather than being locked into a single broker’s potentially inferior program.

To operationalize this analysis, follow this step-by-step framework:
1. Create a Shortlist: Identify 3-5 reputable, well-regulated brokers (e.g., under ASIC, FCA, CySEC) known for ECN/STP execution.
2. Audit the Fine Print: Scour the client agreement of each for any clauses that could hinder scalping.
3. Analyze the True Cost of Trading: For the brokers that pass step two, examine their typical spreads on your preferred pairs during active trading hours (e.g., London-New York overlap) and add their commission structure. Calculate the total cost per standard lot.
4. Engage a Rebate Provider: Research a reputable independent rebate provider and ascertain the rebate rate they offer for each broker on your shortlist.
5. Calculate Net Cost: For each broker, perform the calculation: `Total Cost per Lot – Rebate per Lot = Net Trading Cost`. The broker with the lowest, most predictable net cost, combined with reliable execution, is your optimal partner.
Example Scenario:
A scalper executes 50 round-turn trades per day on EUR/USD, averaging one standard lot per trade.
Broker A (ECN): Avg. Spread: 0.2 pips ($2), Commission: $4 per RT, Total Cost: $6 per lot. Rebate from Provider: $7 per lot. Net Gain: +$1 per lot.
* Broker B (Spread-Only): Avg. Spread: 1.5 pips ($15), Commission: $0, Total Cost: $15 per lot. Rebate from Provider: $7 per lot. Net Cost: $8 per lot.
In this clear example, Broker A, despite charging a commission, is vastly more profitable for the scalper when the rebate is factored in. The scalper not only benefits from superior execution but effectively gets paid to trade.
In conclusion, selecting a broker for scalping with the aim of maximizing rebate earnings is a deliberate, multi-faceted process. It requires moving beyond superficial marketing and delving into execution models, cost structures, and policy details. By aligning a scalping-friendly, low-cost ECN broker with a robust third-party rebate program, you transform a routine cost of business into a strategic revenue stream, systematically enhancing your bottom line.

3. The Mathematics of Volume: Why Scalpers and Day Traders Benefit Most

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In the world of Forex trading, profitability is not merely a function of winning trades; it is a complex equation where transaction costs play a pivotal, and often underestimated, role. For the average position trader who executes a handful of trades per month, the impact of spreads and commissions, while important, is diluted over a larger profit target per trade. However, when we shift our focus to the high-frequency domains of scalping and day trading, the mathematical dynamics change dramatically. It is here, in the relentless arithmetic of volume, that the strategic implementation of forex rebate strategies transforms from a minor perk into a critical component of a sustainable business model.

Scalpers and day traders operate on the principle of small, frequent gains. A scalper might target 5-10 pips per trade, while a day trader might aim for 20-30 pips. Their edge is often slim, built on statistical advantages that play out over hundreds of trades. The primary adversary to this edge is the cumulative effect of transaction costs.
Let’s break down the mathematics with a simplified example:
A Scalper’s Week:
Trades per day: 30
Trading days per week: 5
Total Weekly Trades: 150
Average Cost per Trade (Spread + Commission): $8
Total Weekly Transaction Costs: 150 x $8 = $1,200
Before a single pip of profit is realized, this scalper is facing a $1,200 deficit. Over a month (approximately 600 trades), this balloons to $4,800. This “cost drag” is a formidable hurdle. To be consistently profitable, the trading system must first overcome this substantial overhead. This is where the raw volume of scalping and day trading intersects powerfully with rebate programs.

A forex cashback or rebate program directly attacks this problem at its core. Rebates are typically a fixed amount or a fraction of the spread returned to the trader for each traded lot. By integrating this into our cost equation, the financial landscape shifts.
Let’s revisit our scalper, now employing a robust forex rebate strategy:
Scenario with Rebates:
Total Weekly Trades: 150
Average Rebate per Trade (Standard Lot): $4
Total Weekly Rebate Earned: 150 x $4 = $600
Effective Weekly Transaction Cost: $1,200 (Original Cost) – $600 (Rebate) = $600
The rebate has effectively halved the trader’s transaction costs. The monthly overhead drops from $4,800 to $2,400. This is not merely an increase in profit; it is a fundamental enhancement of the trader’s edge. The system now requires a smaller average win to become profitable, thereby increasing its statistical robustness and the trader’s risk-adjusted returns.

From Cost Center to Profit Center: The Breakeven Shift

The most profound impact of rebates is on the trader’s breakeven point. In our initial example, the scalper needed to generate over $1,200 per week just to cover costs. With the rebate, the breakeven point is lowered to $600. This dramatically increases the probability of having a profitable week, even if the market provides only modest directional opportunities.
Practical Insight:
Consider a day trader who uses a strategy with a 55% win rate. Without rebates, the strategy might have a net expectancy of +0.2R per trade after costs. By incorporating a rebate that reduces costs by 40%, the net expectancy could jump to +0.35R. Over 500 trades a year, this difference compounds into a staggering improvement in annual returns. The rebate doesn’t just save money; it actively contributes to the profit and loss statement.

Enhancing Risk Management and Psychological Fortitude

The benefits extend beyond pure mathematics. Lower effective costs provide greater flexibility in risk management. A trader can use tighter stop-losses without the cost of the spread consuming an unreasonable portion of the potential profit. This can lead to more favorable risk-to-reward ratios.
Furthermore, the psychological burden is lessened. Knowing that a portion of every cost is being recouped, regardless of the trade’s outcome, reduces the pressure on each individual trade. This “guaranteed return” on transaction volume fosters a more disciplined and patient approach, which is invaluable in the high-stress environment of rapid-fire trading.

Strategic Implementation: Choosing the Right Rebate Partner

To fully leverage this mathematical advantage, scalpers and day traders must be strategic in their selection of a rebate provider. Key considerations include:
1. Rebate per Lot: The raw number is important, but it must be evaluated against the broker’s inherent spreads and commissions. A higher rebate on a broker with wide spreads may be less effective than a moderate rebate on an ultra-low-cost ECN broker.
2. Payout Frequency and Reliability: Consistent, timely payouts are crucial for traders who rely on this as a stream of capital return or income.
3. Broker Compatibility: The best rebate programs offer a wide selection of reputable, well-regulated brokers that cater to the high-volume, low-latency needs of scalpers and day traders.
In conclusion, for the scalper and day trader, volume is not just a trading style—it is a quantitative reality. The relentless accumulation of trades turns transaction costs into the primary adversary. A sophisticated forex rebate strategy is the most direct and powerful tool to win this battle. By systematically reducing the cost drag, lowering the breakeven point, and enhancing overall expectancy, rebates move from the periphery to the very core of a profitable high-frequency trading operation. It is a mathematical imperative that no serious volume trader can afford to ignore.

4. The Registration and Tracking Process: Ensuring You Get Every Dollar

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The registration process is the gateway to your rebate earnings, and it is deceptively simple. The cardinal rule, one that cannot be overstated, is this: You must register your trading account with the rebate provider before you place your first live trade.
Why is this so crucial? Rebate providers track your activity through a unique tracking ID or link that is embedded in your account upon registration. If you fund your account and begin trading before this link is established, the provider’s system has no way to attribute those trades to you. Brokers do not retroactively apply tracking for rebates. A single pre-registration trade can invalidate rebates for that entire account.
A Practical Registration Workflow:
1. Select Your Rebate Provider & Broker: Your primary decision is whether your chosen broker partners with a rebate provider you trust. Compare rebate rates, payment schedules, and the provider’s reputation. For scalping forex rebate strategies, the provider’s reliability and timeliness of payments are as important as the rate itself.
2. Initiate Registration via the Provider: Never go directly to the broker’s main website. Instead, navigate to the rebate provider’s site, find your chosen broker, and click their specific registration link. This action ensures the tracking cookie or ID is attached to your application.
3. Complete the Broker’s Application: You will be redirected to the broker’s standard account application form. Fill in your details exactly as they appear on your official identification documents. Consistency is key for verification.
4. Confirmation is Key: Do not assume the process is complete. You should receive two confirmations: one from the broker (account approval) and one from the rebate provider (successful registration and tracking activation). If you do not receive the latter within 48 hours, contact the provider’s support immediately.
Example of a Costly Mistake: A day trader, eager to capitalize on a market-moving news event, opens a $10,000 account directly with a broker and executes 50 round-turn lots in the first week. Only then does he discover a rebate program and attempts to register. Those 50 lots, which could have yielded hundreds of dollars in rebates, are permanently lost. This underscores that the registration process is a non-negotiable, pre-trade ritual.

Once registered, the onus shifts to tracking. Relying solely on the rebate provider’s statements is a passive approach; the professional trader adopts an active, verification-based strategy.
1. Understanding the Metrics:
Rebates are typically calculated based on a “lot” or “round-turn trade.” A round-turn is one opening and one closing transaction. As a scalper or day trader, you generate a high volume of these. You must understand your provider’s specific terms:
Does the rebate apply per standard lot (100,000 units), mini lot (10,000), or micro lot (1,000)?
Is there a difference in rebate for fixed vs. variable spreads? Some providers offer higher rebates for trades executed during wider spread conditions.
Are all instruments eligible? Rebates on major forex pairs are standard, but check the rates for minors, exotics, indices, or commodities if you trade them.
2. Maintaining Your Own Trade Journal:
Your trading platform (e.g., MetaTrader 4/5) provides a detailed account history. Export this data regularly—daily or weekly. Create a simple spreadsheet with columns for: Date, Instrument, Volume (Lots), Profit/Loss, and Calculated Rebate. By applying the agreed-upon rebate rate to your traded volume, you can independently forecast your expected rebate earnings.
3. Reconciling with Provider Statements:
Your rebate provider will issue a statement, usually monthly. The core of your tracking process is to reconcile your own calculated rebates with this official statement. Discrepancies, while rare, can occur due to server issues, mis-categorization of instruments, or platform errors. Identifying and reporting these discrepancies promptly is essential to “ensuring you get every dollar.”
Advanced Strategy: Multi-Account Management
Sophisticated traders often operate multiple accounts, perhaps one for scalping EUR/USD and another for day trading gold. In this scenario, your forex rebate strategies must be systematized. Each account must be registered separately and tracked independently. A master tracking spreadsheet becomes indispensable, allowing you to aggregate rebate earnings and assess the performance of your overall rebate strategy across your entire trading operation.

Conclusion: From Administrative Task to Strategic Advantage

For the retail trader, the registration and tracking process might seem like a mundane administrative task. For the serious scalper and day trader, it is a fundamental component of risk and cost management. By treating this process with the same discipline as your trade analysis—emphasizing precision at registration and rigor in tracking—you transform the rebate program from a simple cashback scheme into a powerful, profit-enhancing strategy. It ensures that the relentless pace of your trading is consistently rewarded, turning a persistent cost (the spread) into a tangible, predictable revenue stream. In the quest for trading success, every dollar reclaimed is a dollar earned, and it all starts with a perfectly executed registration.

Frequently Asked Questions (FAQs)

What are the most important factors when choosing a forex rebate provider?

The most critical factors are reliability and transparency. You must choose a provider with a proven track record of timely payments. Furthermore, they should offer complete transparency in their tracking process, providing you with clear statements that detail every trade and the corresponding rebate earned. A lack of clear reporting is a major red flag.

How do forex rebates specifically benefit scalpers over long-term traders?

Scalpers execute a high volume of trades, often dozens or even hundreds per day. Since forex rebates are typically paid on a per-lot basis, this volume is the key driver of earnings. A long-term trader might place a few trades per month, generating minimal rebates, while a scalper’s frequent trading compounds the cashback into a substantial income stream that can directly offset trading costs like spreads and commissions.

Can I use any broker with a rebate program, or do I need a specific type?

No, you cannot use any broker. To maximize a rebate strategy for scalping, you must select a scalping-friendly broker. Many brokers prohibit or restrict scalping through terms like “arbitrage trading” or “manipulative trading.” Using such a broker could lead to your account being closed and rebate earnings forfeited. Always verify that your broker explicitly allows your trading style.

What is the typical process for registering with a rebate provider?

The process is generally straightforward but requires attention to detail:
Sign Up: Register for a free account with the rebate provider.
Select Your Broker: Choose your broker from their list of partners.
Link Accounts: Use a specific referral link provided by the rebate service to open a new trading account or link an existing one (if the provider allows it).
Start Trading: Once linked, your trades are automatically tracked, and rebates are accrued in your provider account.

Are forex rebates considered taxable income?

In most jurisdictions, yes, forex rebates are considered taxable income. They are typically classified as a discount or rebate on your trading expenses. It is crucial to consult with a qualified tax professional in your country to understand your specific reporting obligations and how to properly declare these earnings.

How can I calculate my potential earnings from a forex rebate program?

You can estimate your potential earnings using a simple formula:
(Volume Traded in Lots) x (Rebate Rate per Lot) = Total Rebate Earned.
For example, if you trade 100 standard lots in a month and your rebate provider offers $7 per lot, your estimated monthly rebate would be $700. This demonstrates the power of volume in these strategies.

What are the risks associated with using a forex rebate service?

The primary risks involve choosing an unreliable provider. These include:
Non-payment: The provider fails to pay your earned rebates.
Poor Tracking: Their system fails to accurately track all your trades, leading to lost earnings.
* Lack of Support: Inability to get help if you have questions or issues with your account.
Mitigate these risks by thoroughly researching providers, reading user reviews, and starting with a small account to test their service.

Do rebates create a conflict of interest with my trading strategy?

A properly structured rebate strategy should not create a conflict of interest. Your primary focus must always be on executing a profitable trading plan. The rebate is a reward for the volume you already trade. The danger arises if a trader starts overtrading just to generate more cashback, which would be a serious strategic error. The rebate should be an enhancement to your strategy, not the driver of it.