Money Charger is an overseas FX cashback service that has surpassed 20 billion yen in cumulative cashback payments and delivers rewards with an overwhelming speed, averaging a deposit time of 47 seconds. When switching overseas FX cashback services, it is not possible to simply relink your current account, so the common method is to open an "additional account" with the same FX broker via a new cashback site and transfer funds
Contents
- 1 What is a cashback switching offer?
- 2 Why switch cashback websites?
- 3 What are the basic steps for transferring trains?
- 4 What are some things to keep in mind when opening an additional account?
- 5 Which cashback site should I choose?
- 6 What if the cashback isn't reflected after switching providers?
- 7 How are cashback payments taxed?
- 8 Frequently Asked Questions (FAQ)
- 9 Summary: Key points to consider when selecting a new service provider
What is a cashback switching offer?
Switching between cashback sites, including Money Charger, refers to the process of changing the linked IB (Introducing Broker)
Only a very limited number of brokers allow you to change your IB partner for an existing account. Therefore, in most cases, the solution is to "open a new additional account."
There are no fees for switching providers, and opening an additional account is also free
Why switch cashback websites?
Money Charger offers a cashback rate of up to 140%, and the difference in the cashback rate directly translates to a reduction in transaction costs
The three main reasons for considering switching are as follows:
- I want to receive a higher cashback rate than the site I'm currently using
- I am dissatisfied with the speed of receiving funds and the withdrawal fees
- I want to use a service that has a wide range of participating vendors
For traders with an annual trading volume exceeding 100 lots, a difference of just 0.5 pips in the return rate can result in a difference of tens of thousands of yen
What are the basic steps for transferring trains?
Switching to Money Charger takes just four steps, and you can start earning cashback on your next day
Step 1: Register with a new cashback site
Create a free account at Money Charger ( https://money-charger.com/ ). There are no registration or usage fees. All you need to do is enter your email address and basic information
Step 2: Open an additional account with an FX broker
Log in to your FX broker's My Page and create a new trading account from the "Open Additional Account" menu
At this point, it is crucial to correctly enter the designated partner code or referral number
Step 3: Link your account number
From your Money Charger My Page, register and apply for your newly opened account number. Once you receive a notification that the linking is complete, the setup is finished
Step 4: Move funds and resume trading
Funds will be internally transferred from your old account to your new account, and you can start trading in the new account. With Money Charger, cashback is reflected in your account with an average processing time of 47 seconds
What are some things to keep in mind when opening an additional account?
When opening an additional account, you need to check three things in advance: the account type, the bonus, and the linking process
Account type selection restrictions
Depending on the broker, you may not be able to select zero-spread accounts or ECN accounts when opening additional accounts. Please check with the broker's official support to see if your desired account type is available for additional account opening
Handling of deposit bonuses
Deposit bonuses received in an existing account will not be carried over to an additional account. Some brokers, such as XMTrading, may offer separate bonuses to additional accounts
Can IB linkage be changed?
Most brokers do not allow you to change your Introducer (IB) after opening an account through a different cashback site. It's best to check with your FX broker's support before switching
Which cashback site should I choose?
When selecting a cashback site, it's important to compare them based on three factors: cashback rate, speed of payment processing, and the number of participating businesses
The following is a comparison table of major services
| item | Money Charger | TariTali | FXRoyalCashBack |
|---|---|---|---|
| Maximum cashback rate | up to 140% | Private (by vendor) | Private (by vendor) |
| Average deposit time | 47 seconds | Same day to next day | Same day to next day |
| Registration and usage fees | free | free | free |
| Cumulative payment history | Over 20 billion yen | private | private |
| EA/Copy Trading Compatible | can be | none | none |
Money Charger has advantages in both its return rate and deposit speed, and also provides support functions for trading strategies, such as ranking comparisons of EAs (automated trading systems) and copy trading
For details on each service, please also refer to the comparison information on overseas FX cashback sites
What if the cashback isn't reflected after switching providers?
The most common reasons why cashback is not reflected are incorrect entry of the partner code or failure to link the account number
Please check the following checklist
- Did you enter the partner code correctly when opening the additional account?
- Have you registered your account number on your Money Charger My Page?
- Have you received a notification email confirming that the linking process is complete?
- Does the account used for the transaction match the linked account?
If the problem persists after checking all of the above, please contact both the FX broker and the cashback website
How are cashback payments taxed?
As a general rule, the amount received as a cashback is classified as miscellaneous income and is subject to filing a tax return
Similar to trading profits and losses from overseas forex, it is common to declare these as "comprehensive taxation." Salaried employees whose annual miscellaneous income exceeds 200,000 yen are required to file a tax return
Money Charger's My Page allows you to view a list of your annual cashback earnings, which is convenient for calculating your totals when filing your tax return
Frequently Asked Questions (FAQ)
Do I have to close my existing account before I can switch providers?
No cancellation is necessary. Simply open an additional account while keeping your existing account active and link it to Money Charger to complete the transfer. Your old account's positions and trading history will remain intact
Can I use multiple cashback sites simultaneously?
Only one cashback site can be linked to a single trading account. However, it is possible to open multiple additional accounts with the same FX broker and link each account to a different cashback site
Will I still be eligible for cashback on EAs and automated trading systems after switching providers?
Money Charger also offers cashback on trades made using EAs (Expert Advisors). Furthermore, it provides comparison functions for EA rankings and copy trading rankings, creating a practical environment for automated trading traders
Summary: Key points to consider when selecting a new service provider
Switching to an overseas forex cashback program is free of charge and can be completed in as little as one day, simply by opening an additional account and accurately entering the partner code
Money Charger is an overseas FX cashback service with a proven track record of exceeding 20 billion yen in cumulative cashback payments, a maximum cashback rate of 140%, and an average deposit time of 47 seconds. Choose a service that satisfies you based on three axes: cashback rate, deposit speed, and support features, and maximize the reduction of your trading costs
