Major improvement in our cashback offers
With the start of 2016, we implemented a unique cashback system on the market. We had high hopes that our users would benefit the most of it. The idea behind it was to offer a competitive base cashback rate up to 75%. Plus the remaining 25% could have been reached via extra user activities which benefited Cashbackcloud.co. All in all, it meant that with some focus on the extra percentages even 100% cashback rate could have been reached.
The response from our users was overwhelmingly positive. They liked the idea to have the chance to increases their rebate rate even if they did not trade in large quantities. We were also happy to see that our users would help the site grow and that they provided a lot of feedback regarding this unique cashback system.
As a result, after 2016 passed we gathered enough information from our active traders to plan and execute some improvements in the system in 2017. As a conclusion, we made three major changes which will be active from the 15th of March 2017.
1. We raised the cashback rate for every VIP level
Regarding the base VIP levels, we received two types of feedback. On one hand, our smaller quantity traders highlighted that our base offer shall be more competitive. On the other hand, our larger quantity traders said that they would love to reach higher cashback rates via trading. As a result, we raised the cashback rates without raising the requirements at all level. Furthermore, we added a new level for our “high-rollers”. Check it out:
|From 45% to 50%
|0 CBC Points
|From 56% to 59%
|500 CBC Points
|From 63% to 67%
|2.500 CBC Points
|From 70% to 74%
|7.500 CBC Points
|From 75% to 80%
|25.000 CBC Points
|New level with 85%
|100.000 CBC Points
2. We reworked the promotion cashback % system
We constantly monitored the effectiveness of our extra 25% from promotions. Our conclusion was that almost nobody used it entirely. As a result, we designed a new structure which we hope might suit our traders better. As mentioned already we took some percentages and improved our VIP level rewards. From the remaining, we will offer monthly cashback rate boosts in the form of seasonal and monthly challenges. Though it is not entirely worked out yet I can already tell that some of the most popular ways that were used to improve the rate will remain in effect with some modifications.
Those of you who has already acquired some of these extra percentages please rest assured your previous work was not in vain. Just write us an e-mail to [email protected] and we will modify your account accordingly to enjoy what you have earned already.
3. Added option for private deals
We recognize that our VIP system might still not be satisfactory for everyone. For a possible solution do not hesitate to contact us for a private deal. If you feel that based on your trading quantity, loyalty to the site or for other reasons you want a private deal, just send an e-mail to [email protected]. We will be happy to discuss it with you!
Some other changes
- We understood the need from our traders for a more exact description of the cashback they receive. The resolve the matter, after the updates our users can see an exact $/lot value for every account type on every broker page. It is important to note that these values are not always precise most of the time. When we get the commission from the brokers in the form of pip/lot or % of the spread we took a typical spread value for the calculation, however as you are aware of the spread values are constantly changing on variable spread. If this is the case we will make a short description of the calculation method in a notes menu.
- After the update users will see which administrator uploaded his/her rebate information. It can help a lot when writing your letter in case you have a question regarding the rebates to tell us which administrator made the upload.
- New payment methods are on the way: our next option for withdrawals is Fasapay which will be also available after the updates. We are still open to any suggestion from our users regarding payment providers. Just write us what you would like to see and we will try to make that happen.
- For improving our cashback deal we had to make a minor decrease in our referral offer. The new refer a friend bonus will be 10% from the commission of the referred user instead of the 12% that was active previously.
- We are happy to tell that we are now a partner of the broker Kawase. We hope you will like its offer and do not forget that broker partnership requests are still appreciated. In the near future, we will hopefully broaden our offer list with Varianse, Dukascopy and some binary offers. Will keep you updated!