The rebates area of your Personal Area contains the functions and features required to manage the rebate system for Introducing Brokers . This article will take a tour of this area, and explain the information presented for each area.
We recommend following the links to read about the rebates system first, and about how to manage rebates before exploring the rebates area.
To find the rebates area:
- Log in to your Personal Area
- Select Rebates from the top menu.
The rebates area is divided into these major areas:
This is where you can find a list of the rebate payouts which need to be manually approved before they are credited to your clients’ accounts.
In this section, you will find:
- Clients to approve:The number of clients who have rebates pending based on the rebate settings.
- Commission (USD):The reward due to the IB from these clients' trades.
- Rebates to approve (USD): The sum of unapproved rebates.
Here are the filters provided in the Approval list area to help you retrieve information:
- Period: This refers to the time period for which you are retrieving information. By default, the period chosen is 01.01.2007 to the current date.
- Group: You can use this filter to select the group(s) you want to approve rebates for.
Here is a breakdown of the information presented in the Approval list area.
- Date: shows the date the rebate was created.
- Total clients: shows the number of client trading accounts in the selected group. If a client has traded on multiple trading accounts, there will be as many entries listed here.
- Group: shows the group name (if applicable); clicking on the group name will redirect you to more information about the group.
- Commission: shows the amount of commission received from the client in USD.
- Rebate : shows the total amount of rebate to be paid to the clients selected.
- Details : opens more details within the approval list about the selected client.
- Status: Contains the Reject and Approve buttons.
The Clients area presents a generalized list of all clients and includes tools to filter what is presented as well as a way to add clients to specific groups.
Here you can find
- Total clients: This shows the total number of clients’ trading accounts associated with this IB account.
- Clients with assigned rebates: This shows you the number of clients registered under your partnership with rebates assigned. Clients with a rebate % of 0 are counted as well.
Here are the filters provided in the Clients area to help you retrieve information:
- My Account : To choose a specific IB account(-s) if you have more than one. By default, all accounts are shown.
- Client ID : To filter data in the table by client's user ID number. It’s possible to select several clients. By default, all accounts are shown. The client’s user ID is masked; only 8 symbols are shown.
- Client's account : To filter data in the table by client's trading account. It is possible to select several trading accounts; by default, all trading accounts are shown.
- Account type : To filter data in the table by account type. It is possible to select several account types. By default, all account types are shown.
- Sign-up period : To filter clients by their sign-up date. By default, the period chosen is 01.01.2007 to the current date.
- Country : To filter data in the table by client's country. It is possible to select several countries. By default, all countries are shown. Countries are listed by the 2-letter country code, i.e IN, VN, TH, etc.
- Group: To filter data in the table by groups. It is possible to select several groups. By default, all groups are shown
You can set multiple different filters at once; click Apply to apply the filter or Clear filters to remove all filters.
Here is a breakdown of the information presented in the Clients area:
- Client ID: shows the client's user ID number. The UID consists of 8 symbols. Clicking on the UID value refreshes the list filtering by selected UID.
- Client account: shows the client’s trading account number. Clicking on the trading account number redirects to the History tab filtered by this trading account number.
- Destination account: shows the trading account number of the client to which the rebate will be credited. This entry is empty by default and can differ from the client’s trading account. Clicking on the pencil icon opens a window in which you can edit the destination window with an alternative trading account belonging to the client.
- Rebate %: shows the rebate rate set for the client. If the client isn’t in a group, this shows their personal rebate otherwise this displayed the group default rebate. Clicking on a group name redirects to the client's group settings tab.
- Group: clicking on it redirects to the group information page.
- Volume lots/mln: shows the total volume traded by the client in lots or mln USD; clicking on it switches between these two values. Lots are shown by default.
- Commission: shows the total partner commission received from the client (USD)
- Rebate: shows the total rebate paid to the client (USD).
- My account: shows the IB account number. This column is only shown if you have more than one partner account and is hidden by default.
- Account type: shows the account type of the client's account and is hidden by default.
- Client account registration date: shows the date of client's account creation and is hidden by default.
- Client country: shows the client’s country of registration (in a 2-letter country code, i.e TH, VN, etc). This is hidden by default.
- See rebates history: this redirects to the History area filtered by the chosen client's trading account.
The Groups area presents a list of all of your created groups of clients and presents filtering tools and datasets for this purpose.
The most important set of data here includes:
- Clients in groups total: the total number of clients added to groups.
- Groups total: the total number of groups.
The Groups area includes filters that help you finetune the information you would like to retrieve.
The filters available are:
- Group name: You can choose one or multiple group names.
- Group type: Use this to choose between the manual approve rebate and auto approve rebate types; all are presented by default.
Click Apply to apply the desired filters.
Here is a breakdown of the information presented in the Groups area:
- Group: shows the name of the group.
- Type: shows the type of the group
- Rebate: shows the rebate percentage set for the group. If a group has multiple, a range of values is shown from minimum to maximum.
- Clients: shows the number of clients in the group.
- Edit: clicking here redirects to the group edit information page.
- Delete : clicking here opens the delete group window; this is only presented for groups with no clients when hovering the mouse over it.
The History area presents all the historical data for your rebates, clients, and groups; which helps you create a track record for your IB account.
The most important set of data here includes:
- Commission: the total amount of commission received from clients in USD.
- Rebates paid: the total amount of rebate paid out in USD; counts rebates with Paid status only.
- Rebates rejected: the total amount of rebates with Rejected status.
- Rebates with errors: the total amount of rebates with an Error status.
The History area comes with a set of filters so that only the information you want to see is displayed, including:
- Payment period: To select a time period set using the calendar function.
- Status: To select multiple statuses to filter the rebates by Paid, Rejected, Processing, and Error.
- Client account: To filter by a client trading account or multiple trading accounts.
- Group: To filter by single or multiple groups.
Click Apply to apply the desired filters.
Here is a breakdown of the information presented in the History area:
- Processed date: shows the date when rebate status changed to a final status, which includes Processed, Rejected, or Error. This column is empty until final status is assigned.
- Commission date: shows the date when the reward was credited from which this rebate was calculated.
- Group: shows the name of the group the client belongs to, if applicable. Clicking on it redirects to the group information page.
- Client account: shows the client's trading account number. Clicking on it refreshes the history report filtered by the client’s account number.
- Destination account: shows the client's trading account the rebate was paid to.
- Lots: shows the volume traded by the client in lots.
- Commission: shows the commission received from the client on the date shown in the commission date column.
- Rebate : shows the IB rebate paid to the client on the date shown in the processed date column.
- Status: shows the current status of the given rebate, including Approved, Processing, Paid, Error.
For more information about rebates, we recommend reading more about the rebate system, or how to manage rebates.