{"version":"1.0","provider_name":"For overseas forex cashback services, try Money Charger","provider_url":"https://money-charger.com/en/","author_name":"admin","author_url":"https://money-charger.com/en/author/admin/","title":"What is overseas forex cashback? A complete guide to choosing a cashback site, its drawbacks, taxes, and more - Money Charger, your overseas forex cashback service","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"IkTSZVnBqj\"><a href=\"https://money-charger.com/en/information/cash-back/\">What is cashback on overseas forex trading? A complete guide to choosing a cashback site, its drawbacks, taxes, and more</a></blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https://money-charger.com/en/information/cash-back/embed/#?secret=IkTSZVnBqj\" width=\"600\" height=\"338\" title=\"&amp;quot;What is overseas forex cashback? A complete guide to choosing a cashback site, disadvantages, taxes, and more&amp;quot; &#x2014; Money Charger, your overseas forex cashback service\" data-secret=\"IkTSZVnBqj\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"></iframe><script type=\"text/javascript\">\n/* <![CDATA[ */\n/*! 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However, many people probably have questions like these: What exactly is cashback? What should I do to get the most out of it? Are there taxes on profits earned from cashback? This article answers these questions and explains points to consider when choosing a site. It's written in an easy-to-understand way even for beginners, so please use it as a reference! Advantages & Disadvantages of Overseas Forex Cashback Sites / How to Choose One In short, overseas forex cashback is a service that gives money back to users. You can receive money when opening an account or making a deposit, depending on the volume of your trades. There are two types of cashback: Direct cashback: Bonuses unique to the overseas forex broker. Indirect cashback: Bonuses from cashback sites (companies that specialize only in cashback). The former is not cash but money received as margin when trading, and includes account opening bonuses and deposit bonuses. The latter is cash directly deposited into your account. Everything offered by cashback sites falls under this \"indirect cashback\". What are overseas forex cashback sites? A \"cashback site\" is, simply put, like an agent for overseas forex brokers. When you open an account through the site, the overseas forex broker pays the cashback site a referral fee. The cashback site receives money from the overseas forex broker each time, depending on the trading volume of the site user. A portion of the money earned is then returned to the site user as a bonus. This cashback can be received for every trade. To trade as profitably as possible, it is necessary to deepen your understanding of cashback. It is sufficient to understand that cashback can reduce fees. Those familiar with overseas forex can easily understand this by thinking of it in terms of spreads, as follows: Example: If you can receive a cashback of $3 per lot (100,000 currency units) You can receive $3 in cash for each lot traded. If the spread is 1.0 pips, then $3 is returned as 0.3 pips. The returned amount can be used to reduce the spread width to (1.0 - 0.3) pips, effectively making the spread 0.7 pips. This is the logic that cashback can narrow the effective spread. Why do they offer cashback? Why do overseas forex brokers offer cashback to their users? At first glance, it may seem like they're just handing out money. However, by implementing a cashback system, both the broker and the user have a win-win relationship. In short, overseas forex brokers make money from the fees incurred for each trade. The more users there are, the greater the total trading volume, and the more fees the broker can receive from users. It's safe to assume that brokers offer cashback to attract more users. They're happy if giving back to users, even a little, encourages more people to \"try forex!\" You might feel suspicious and think, \"It's shady to get money just for trading,\" but the brokers do it to make a profit, so please use it with peace of mind. Profits from cashback are subject to tax (you need to file a tax return) Cashback is a great service that gives you money back for each trade, but if there is a downside, it is that the money you receive is subject to tax. The bonus you receive from the cashback site is deposited directly into your account as cash. The deposited money can be withdrawn from your account as cash, so the money you receive is considered profit earned from forex. As a result, any profits earned from cashback must be included when filing your tax return. Be aware that, like profits earned from FX trading, it is treated as taxable income. Profits earned from overseas FX (including cashback) are subject to comprehensive taxation as miscellaneous income. The tax rate for comprehensive taxation is determined by a progressive tax system (7 levels from 4% to 45%). The more profit you make, the higher your taxes will be, so be sure to check your profits carefully. On the other hand, bonuses unique to FX brokers are generally not subject to taxation. This is because they are distributed as margin or points, not actual cash. Choosing an overseas FX broker you want to use for trading is important. Avoid choosing an overseas FX broker based solely on cashback. A site that seems to have a good cashback rate may have wider spreads than other companies. You should choose a cashback site using the following steps: Choose the broker you want to use. Choose a cashback site that handles the overseas FX broker you have chosen. Compare the cashback rates and narrow it down to one. The most important thing is to avoid losing money in trading. Don't be fooled by temporary campaigns or high cashback rates offered by FX brokers. It's important to choose a cashback site based on the overseas FX broker you want to use, or a trusted overseas FX broker. Even if you're already registered with an overseas FX broker, if the broker allows you to open multiple accounts, you can open a new account with the same broker through the cashback site. (You can open an additional account even if you already have one with that broker.) Some brokers only allow you to open one account (such as iFOREX), so if you're just starting out in FX, we recommend checking the following two points before opening an account: The number of accounts you can open; and the partner cashback site. Note that some brokers don't even allow account opening through cashback sites. Money Charger's partners are popular brokers. Money Charger partners with overseas FX brokers popular with Japanese traders. All partners offer Japanese language support, so you can use it with peace of mind. The following four companies are partnered with Money Charger: Gemforex, FXGT, IS6FX […]"}