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.
If the rebates option is not shown in the menu, it means this account does not have access to the rebates feature and it must be requested by contacting Support.
The rebates area is divided into these major areas:
Approval list
The approval list is where IBs reject or approve rebates, with search and filter functionality and the ability to download the list as a CSV or XLSX file.
The most important set of data here includes:
- 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.
This dataset is updated whenever the information on the page is filtered.
Filters
The approval list includes filters to finetune the presented information by period and/or group; click Apply once the filter selection is made.
Period
refers to the time period, while Group will sort what is presented by which group the clients belong to.
Information
Here is a breakdown of the information presented in the Approvals 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 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.
Clients
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.
The most important set of data here includes:
- Total clients: the total number of clients’ trading accounts associated with this IB account.
- Clients with assigned rebates: the number of the clients under this IB with rebates assigned. Clients with rebate % of 0 are counted as well as clients in groups.
This dataset is updated whenever the information on the page is filtered.
Filters
The clients area includes filters to focus the presented information by the following criteria:
- My Account: choose a specific IB account(-s) if you have more than one. By default, all accounts are shown.
- Client ID: filter data in the table by client's user ID number. It’s possible to select several clients. By default all accounts are shown. Client’s user ID is masked; only 8 symbols are shown.
- Client's account: 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: 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: filter clients by their sign up date. By default the period chosen is 01.01.2007 to the current date.
- Country: 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: 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.
Information
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 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 the 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 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.
Groups
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.
This dataset is updated whenever the information on the page is filtered.
Filters
The group area includes filters to display only the information about the groups you prefer, including:
- Group name: enter in one or multiple group names.
- Group type: select between the manual approve rebate and auto approve rebate types; all are presented by default.
Click Apply to apply the desired filters.
Information
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 are 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.
History
The history area presents all the historical data for your rebates, clients, and groups; which help to create a track record for your IB account.
The most important set of data here includes:
- Commission: total amount of commission received from clients in USD.
- Rebates paid: total amount of rebate paid out in USD; counts rebates with Paid status only.
- Rebates rejected: total amount of rebates with Rejected status.
- Rebates with errors: total amount of rebates with Error status.
This dataset is updated whenever the information on the page is filtered.
Filters
The history area comes with a set of filters so that only the information you want to see is displayed, including:
- Payment period: a time period set using the calendar function.
- Status: select multiple status to filter the rebates by, including Paid, Rejected, Processing, and Error.
- Client account: by a client trading account or multiple trading accounts.
- Group: by a single or multiple group.
Click Apply to apply the desired filters.
Information
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 a 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 where 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.