Moneta Markets Launches Game-Changing Cashback Bonus Promotion
Today, we caught up with Moneta Markets’ Founder and CEO, David Bily, to discuss the broker’s latest addition, the Cashback Bonus promotion.
Your Cashback Promotion is no regular deposit bonus promotion, can you take us through the inception of the Cashback Bonus? Our Cashback is an inventive twist on the standard bonus credit promotions widely seen in the Forex industry. We realized that the standard bonus credit promotion was being systematically abused, not just with us, but industry-wide. However, we remained committed to giving back to our clients, which necessitated the creation of something that still delivered value, but also deviated from the norm to give it a point of difference. This is the premise on which the Cashback Promo was developed.
Our idea was largely inspired by loyalty programs that are prevalent in various sectors – including credit card companies, e-commerce platforms, and industry giants like Amazon. These entities reward their customers not only for their loyalty but also for their business activity. The Cashback Bonus Promo embodies this principle, offering rewards to clients who open and fund a live account, and those actively trading popular instruments such as FX, Gold, and Oil. It’s a feature that is tailor-made for genuine and active traders to benefit from.
How does the Cashback Promo function?
We’ve gone to every length and dedicated significant resources to develop a completely automated system, to make the process as straightforward as possible not only for clients but also for our Operations Team. So, all that’s required is to Deposit, Trade, and Earn. After funding a live account with $500 or more, we provide 50% worth of bonus credits. This bonus then automatically converts into cash as a client trades FX, Gold, or Oil! The higher the trading activity, the more cashback that can be accrued. Best of all, it’s all displayed in a brilliant dashboard within the Client Portal, so users can see their Cashback balances increasing on a daily basis. Then, at the beginning of each new month, users can transfer the converted bonus amounts to their trading account to withdraw or trade with as they please.
How have your clients reacted to this initiative?
The response has been overwhelmingly positive! Our UX and development teams spent months developing an automated solution so that clients can now effortlessly see that they're saving on trading costs and earning money from their trading activity, regardless of the outcome of their trade.
It's the same in principle as credit card rewards or point collection with different banks and retailers – we've created an enticing offer that positions us as a preferred choice to our competitors. Many traders have accounts with multiple brokers, and by rewarding those who trade more with us, we are capturing more trading volume from other brokers. And the reason is simple, traders can see the additional benefits of earning Cashback when they trade with Moneta Markets.
You’ve clearly had a busy time with the Cashback Bonus, and the new app. What can we expect next?
It’s been a busy several months, but we have no plans to hit the brakes! We have also just launched our in-house Education Portal, which our analyst has spent several months building and curating content for. It’s multilingual, and features a vast array of technical analysis tutorials, market updates, webinars and video tutorials, and much more! We have always prioritized delivering value to our clients, whether introducing new products, providing educational resources, reducing trading costs, or developing new platforms, which is vital from a retention perspective, because we simply wouldn’t exist without our clients.
We’ve still got plenty of projects in the pipeline, and the team is constantly finding new ways to innovate and improve our offering, so, to our clients, partners, and those considering joining us – watch this space. There are exciting developments on the horizon!
