Meaning & Definition
Forest Park Forex (legal name: Forest Park FX) is an introducing
broker (IB) that provides services related to forex, futures, and CFD trading[reference:0][reference:1].
The company was founded in 2013 and is headquartered in the United States[reference:2][reference:3]. Unlike
a primary broker that holds client funds and executes trades, an introducing broker acts
as an intermediary—it refers clients to partner brokers and earns commissions on their
trading activity.
According to CB Insights, Forest Park FX serves a broad range of clients,
including retail traders, service providers, institutional traders, money managers, and
hedge funds[reference:4]. The company is registered with the Commodity Futures Trading
Commission (CFTC) and is a member of the National Futures Association
(NFA), which provides a layer of regulatory oversight for its activities[reference:5][reference:6].
The core value proposition of Forest Park FX is its ability to help traders select the
right broker for their needs while offering cash back rebates on trading volume. As
Justin Hertzberg, the firm’s President and CEO, explained in a podcast interview,
Forest Park FX takes a “broker-agnostic approach”—they are not tied to any single
broker and can therefore offer more objective guidance[reference:7][reference:8].
traditional sense. It does not hold client funds or execute trades. It is an introducing
broker that connects traders with partner brokers and provides additional value-added
services, including rebates and algorithm development.
How Forest Park Forex Works
Understanding the operational model of Forest Park FX is essential to evaluating its
value proposition. Here is a step-by-step breakdown of how the process works for a
typical retail trader.
The introducing broker model
An introducing broker (IB) acts as a referral partner for primary brokers. When a trader
opens an account through an IB, the primary broker pays the IB a commission based on the
trader’s trading volume. In the case of Forest Park FX, a portion of that commission is
shared back with the trader as a cash back rebate[reference:9].
Forest Park FX works with a range of partner brokers, including well-known names in the
industry[reference:10]. The firm does not charge clients directly for its services—instead, it
earns from the broker commissions and shares a portion back[reference:11].
Rebate calculation and payment
Rebates are calculated based on trading volume. According to Forest Park FX’s FAQ, the
rebate rate can be up to 0.3 pips per round turn trade[reference:12]. A round
turn is a completed trade—for example, buying and then selling the same currency pair
[reference:13].
As an example, if your average daily volume is 1,000,000 units (10 standard lots) and the
rebate rate is 0.3 pips, you would accrue approximately $30 per day in
rebates[reference:14]. Rebates are typically paid monthly, no later than the 25th of the
following month, via Skrill, PayPal, or directly into your trading account[reference:15].
Consultative approach
Forest Park FX emphasizes a consultative approach to broker selection. The firm offers
free one-on-one consultations to help traders identify the broker that
best suits their trading style, strategy, and platform preferences[reference:16][reference:17].
This is possible because the firm is not tied to any single broker and can therefore
provide more objective advice[reference:18].
on your trades[reference:19]. This is an important distinction—rebates are based on trading
volume, not profitability.
Services Offered
Forest Park FX offers a range of services beyond basic broker referrals. These are
designed to add value for different types of clients, from retail traders to hedge funds.
💰 Cash Back Rebates
The core offering. Traders receive a rebate on every round turn trade executed
through partner brokers. Rebates are paid monthly and can significantly reduce
overall trading costs.
📊 Custom Algorithm Coding
Forest Park FX offers custom coding for trading algorithms and indicators[reference:20].
This service is aimed at traders who want to automate their strategies but lack
the technical skills to code them themselves.
📱 Trading Apps
The firm provides trading applications that can be used across different devices
and platforms[reference:21].
🤝 Broker Selection Consultation
Free consultations to help traders choose the right broker based on their
individual needs, trading style, and platform preferences[reference:22].
🏢 Support for Money Managers
Administrative and operational support for money managers, including assistance
with brokerage setup and client onboarding[reference:23][reference:24].
💧 Customized Liquidity
For hedge funds and high-volume traders, Forest Park FX can arrange customized
liquidity solutions[reference:25][reference:26].
your location, regulatory requirements, and the specific partner broker you choose.
Always confirm service availability directly with Forest Park FX.
Practical Use Cases
Different types of traders and investors engage with Forest Park FX for different reasons.
Here are some common use cases.
🧑💼 Active retail trader
A trader who executes a high volume of trades each month uses Forest Park FX
to open an account with a partner broker. The rebates they receive reduce their
overall trading costs, potentially improving net profitability.
📈 Algorithmic trader
A trader with a proprietary strategy but limited coding skills engages Forest
Park FX to build a custom trading algorithm. The firm’s developers code the
strategy into an Expert Advisor or other automated trading system.
🏦 Money manager
A money manager overseeing multiple client accounts uses Forest Park FX’s
support services to streamline brokerage setup, manage administrative tasks,
and potentially access better liquidity terms.
🧑🎓 New trader seeking guidance
A beginner trader who is unsure which broker to choose uses Forest Park FX’s
free consultation service. The firm helps them evaluate different brokers
based on their trading style, platform preferences, and budget.
Maria is an active retail trader who executes approximately 50 standard lots per
month (5,000,000 units). She opens a trading account through Forest Park FX with
a partner broker. The broker pays Forest Park FX a commission on her trading volume,
and Forest Park FX rebates her 0.3 pips per round turn. At 50 lots per month, Maria
receives approximately $150 per month in rebates ($3 per lot × 50 lots).
Over the course of a year, this adds up to $1,800 in cost savings—money that she
would not have received if she had opened the account directly with the broker.
Evaluation & Decision Criteria
If you are considering using Forest Park FX, here are the key criteria to evaluate
before making a decision.
Regulatory status
- CFTC registration: Forest Park FX is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker[reference:27].
- NFA membership: The firm is a member of the National Futures Association (NFA)[reference:28]. You can verify its status using the NFA BASIC database.
- Verification: Always verify current regulatory status directly with the CFTC and NFA, as registrations can change.
Rebate rates and terms
- Rebate rate: Up to 0.3 pips per round turn trade[reference:29]. However, the actual rate may vary by broker and trading volume.
- Payment method: Rebates are paid via Skrill, PayPal, or directly into your trading account[reference:30].
- Payment schedule: Rebates are calculated and paid monthly, no later than the 25th of the following month[reference:31].
Partner brokers
- Broker selection: Forest Park FX works with multiple partner brokers[reference:32]. Evaluate whether the partner brokers are themselves well-regulated and reputable.
- Broker restrictions: Some brokers may not allow rebates or may have restrictions based on your country of residence[reference:33].
Client feedback
- Reviews: User reviews on platforms like Forex Peace Army describe Forest Park FX as responsive, helpful, and patient[reference:34].
- Track record: The firm has been operating since 2013 and has a presence in industry discussions and podcasts[reference:35][reference:36].
that forex trading involves significant risk. Rebates do not eliminate trading risk—they
only reduce your cost basis. You can still lose money on your trades. Always trade
responsibly and never risk more than you can afford to lose.
Comparison Table: Forest Park FX vs. Direct Broker
This table compares the experience of trading through Forest Park FX versus opening an
account directly with a primary broker.
| Feature | Forest Park FX (IB) | Direct with Primary Broker |
|---|---|---|
| Account opening | Assisted by Forest Park FX, with consultation | Self-service, no consultation |
| Rebates | ✅ Yes – up to 0.3 pips per round turn | ❌ No rebates |
| Broker selection guidance | ✅ Free consultation, broker-agnostic | ❌ No guidance (broker promotes itself) |
| Spreads and commissions | Same as direct with the partner broker | Same as direct |
| Custom algorithm coding | ✅ Available as a service | ❌ Usually not available |
| Support for money managers | ✅ Administrative and operational support | ❌ Limited or none |
| Regulatory oversight | CFTC-registered, NFA member | Varies by broker |
| Client funds | ⚠️ Not held by Forest Park FX (held by partner broker) | Held by the primary broker |
Note: The above comparison is general. Specific features and terms may vary by partner broker and individual circumstances. Always verify current terms directly with Forest Park FX and the partner broker.
Practical Checklist
Use this checklist if you are considering opening an account through Forest Park FX.
- Verify regulatory status: Check Forest Park FX’s registration with the CFTC and NFA using the NFA BASIC database.
- Understand the rebate terms: Confirm the rebate rate, payment schedule, and payment method for your specific broker and trading volume.
- Research partner brokers: Ensure the partner broker you choose is itself well-regulated and reputable.
- Check broker restrictions: Some brokers may not allow rebates or may have restrictions based on your country of residence.
- Read the terms and conditions: Understand the agreement between you, Forest Park FX, and the partner broker.
- Test the platform: If you are new to the partner broker, open a demo account first to test the platform and execution.
- Consult a tax professional: Rebates may have tax implications in your jurisdiction. Consult a tax advisor for guidance.
- Start small: If you are new to the service, start with a small account to test the rebate process and service quality.
Common Misconceptions
❌ “Forest Park FX is a forex broker.”
Fact: Forest Park FX is not a primary forex broker. It is
an introducing broker (IB) that refers clients to partner brokers.
It does not hold client funds or execute trades[reference:37].
❌ “Rebates are guaranteed income.”
Fact: Rebates are based on trading volume, not profitability. While
you receive rebates regardless of whether you make or lose money on trades, you can
still lose money trading. Rebates reduce your cost basis—they do not eliminate risk[reference:38].
❌ “All brokers offer the same rebate rate.”
Fact: Rebate rates vary by partner broker and may also depend on
your trading volume. The advertised rate of up to 0.3 pips is a maximum; actual
rates may be lower.
❌ “Forest Park FX charges hidden fees.”
Fact: Forest Park FX does not charge clients directly for its
introducing broker services. It earns from broker commissions and shares a portion
back as rebates. However, you are still subject to the spreads, commissions, and
other fees charged by the underlying broker[reference:39].
❌ “Any broker can be used with Forest Park FX.”
Fact: Forest Park FX works with a specific set of partner brokers[reference:40].
Not all brokers participate in rebate programs, and some brokers may not allow
rebates for clients in certain countries[reference:41].
Risk Controls & Warnings
🚨 Risk Warning
The Commodity Futures Trading Commission (CFTC) and
National Futures Association (NFA) warn that retail forex trading
carries significant risk of loss. The NFA has
reported that the majority of retail forex traders lose money.
Forest Park FX is a registered introducing broker, but it is not
a primary broker. Your funds are held by the partner broker, not by Forest Park FX.
You can lose all of your investment. Rebates do not protect you
from trading losses—they only reduce your trading costs. Always use proper risk
management, including stop-loss orders and position sizing that limits your
exposure per trade.
Essential risk controls
- Verify regulatory status: Check Forest Park FX’s registration with the NFA BASIC database and the CFTC registration database.
- Research partner brokers: Ensure the partner broker you choose is itself well-regulated and has a strong reputation.
- Understand the fee structure: Review the spreads, commissions, and other fees charged by the partner broker.
- Use proper leverage: Avoid excessive leverage. For beginners, lower leverage is recommended.
- Set stop-loss orders: Always place a stop-loss for every trade to limit potential losses.
- Risk only 1-2% per trade: Never risk more than a small percentage of your account on a single trade.
- Keep records: Maintain a trading journal to track your performance and identify areas for improvement.
- Consult a tax professional: Rebates may have tax implications in your jurisdiction. Consult a tax advisor for guidance.
provide investor education and registration verification tools. The Federal Reserve
publishes daily foreign exchange rates (H.10 release) that can be used to verify pricing.
The Bank for International Settlements (BIS) provides global forex
turnover data. Always verify current rules, fees, spreads, rates, broker availability,
and platform terms with the relevant authority or provider.
Disclaimer: This article is for educational purposes only
and does not constitute financial, legal, or tax advice. Trading foreign exchange involves
substantial risk of loss and is not suitable for all investors. Always consult a qualified
financial advisor and tax professional before making investment decisions. Rules, fees,
spreads, rates, broker availability, and platform terms are subject to change—verify
current information with the relevant authority or provider.