Frequently Asked Questions
What makes you different than everyone else?
We offer a daily Chat Room and weekly educational webinars for FREE. Events are archived and easily accessible for later viewing. We post trade observations and ideas on Twitter and Facebook. In addition, we give you cash back every time you complete a round turn trade. Finally, we use a proprietary teaching method that emphasizes technical analysis, including learning to read charts and specific indicators. Our goal is to teach you how to time the market with more precision and confidence using an objective approach.
What will I learn if I subscribe to Cashmechanics.com?
As implied in our name, you will learn the mechanics of trading. You will learn how professionals approach the market each day using various methods of analysis and trading strategies. We also cover short, intermediate and long term approaches. Most importantly, you will learn how to structure your trading behavior and develop your own analytical perspective. Learn more.
Can I open up a trading account at Cashmechanics.com?
You can open up an account through one of our recommended brokers. Cashmechanics.com operates as an Introducing Forex Broker and is registered with the National Futures Association (NFA). By introducing your account to one of our recommended brokers, Cashmechanics.com is compensated through a portion of the bid/ask spread when you trade.
Who holds my funds when I use Cashmechanics.com?
When using Cashmechanics.com, your funds will be held at the respective company which you select to execute your trades through. The benefit of using Cashmechanics.com as your Introducing Broker is that you will receive cash back for every trade you complete.
Is Cashmechanics.com an affiliate of FXCM or Forex.com?
No. Cashmechanics.com is an independent Introducing Forex Broker registered with the National Futures Association (NFA).
How is Cashmechanics.com compensated?
We are compensated by the broker that holds your deposit and executes your trades. Cashmechanics.com receives a portion of the bid/ask spread each time you execute a round turn trade.
Will the broker where I execute my trades treat me the same way they treat customers that weren’t introduced by Cashmechanics.com?
Yes. You are still a customer of the broker that you chose to execute your trades, so you will get all the benefits that the broker provides. However, you will also get all the benefits that Cashmechanics.com provides including cash back on every trade you complete, customer guidance and support, and additional benefits.
What kind of trading education does Cashmechanics.com offer?
The education that we offer introduces you to proven discretionary techniques that can be applied across most financial instruments and market conditions. Learn more.
What is the benefit of using Cashmechanics.com as a referral instead of going directly to one of your recommended brokers?
The benefit of using Cashmechanics.com as your Introducing Broker is that you will receive cash back for every trade you complete. You will also get customer guidance and support and educational benefits.
Am I paying higher spreads by opening an account through Cashmechanics.com?
No. By using Cashmechanics.com, you are opening an account with one of our recommended brokers and you will receive the same spreads they offer to any other client.
What is an Introducing Broker (IB)?
An Introducing Broker is an entity that is registered with the National Futures Association and introduces traders to Forex Dealer Members (FDMs) such as the recommended brokers presented on our website in exchange for some form of compensation.
I am new to forex, where do I learn some basic information?
Can I get cash back from Cashmechanics.com if I already have an account with one of your recommended brokers?
Yes. Contact us and we will help you through the transfer process.
How do I fund my account?
Funding instructions will be provided to you upon opening an account.
How do I sign up for Cashmechanics.com rebates?
Just open a live account with one of our recommended brokers through the Cashmechanics.com website and begin to receive cash back once you begin trading. It is important to sign up through the Cashmechanics.com website which will automatically identify you as a Cashmechanics.com referral.
Can I collect rebates on multiple accounts with one or more of your recommended brokers?
Yes. As long as Cashmechanics.com is identified as the Introducing Broker.
How much will I receive for a rebate each month?
This is depends on how many lots you trade per month. We pay a ½ pip rebate on all your round turn trades (.4 pips in Australia/New Zealand). This equates to $5 for every one standard lot traded. For example, if you trade 50 standard lots you will receive $250. If you trade 50 mini lots, you will receive $25.
How do I receive my rebates each month?
If you are a client residing in the U.S., a rebate check will be mailed to you. If you are a client residing outside of the U.S., your rebate will be issued through PayPal. Rebates should be received by the middle of the following month.
What's the difference between a practice and live trading account?
The primary difference is that there is no capital at risk when trading on the practice system. The exchange rates available in the practice system are the same real-time rates available to live trading accounts. The practice account gives you the same dealing spreads offered in the live market and allows you to trade instantly. There is a difference between the U.S. and non-U.S. practice accounts because of U.S. forex trading regulations. The functionalities and/or products available in the demo accounts, but not available to U.S. residents, may include, but are not limited to, the ability to hedge, trade Contracts for Differences (CFDs), and no requirement to use just First In First Out (FIFO) trade allocation methodology.
Where do I get a username and password for my MT4 practice account?
When you download the MT4 platform; Go to 'File'; Click 'open an account'; Type in all required information; a window will pop up automatically with a computer generated password and username.