CMSFX Giving Away $500 Live Accounts | Forex Factory

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CMSFX Giving Away $500 Live Accounts

  • #1
  • First Post: Edited Sep 3, 2007 7:30pm Aug 12, 2007 10:15am | Edited Sep 3, 2007 7:30pm
Is anyone taking advantage of this offer? Sure it's a marketing ploy but it seems there's nothing to lose by just giving it a shot. Unfortunately, it's not available to US residents so I'm out.

http://www.cmsfx.bm/en/resources/trade-for-free/

I understand the "visual" trading platform takes some getting used to.

I know of a few who have already hit their targets and are just waiting for the paperwork to go through to start their live accounts.

This promotion ended on the 31st of August, 2007!

Congratulations to all who were awarded a $500 live account!

Now on to the next goal. Who'll be the first to make 30 full lot trades and withdraw real cash money into their bank accounts?!

The saga continues in a new thread in the Journal Factory section.
http://www.forexfactory.com/showthread.php?t=45205
  • #2
  • Aug 12, 2007 10:32am Aug 12, 2007 10:32am
Quoting opie999
Is anyone taking advantage of this offer? Sure it's a marketing ploy but it seems there's nothing to lose by just giving it a shot. Unfortunately, it's not available to US residents so I'm out.

http://www.cmsfx.bm/en/resources/trade-for-free/

I understand the "visual" trading platform takes some getting used to.

I know of a few who have already hit their targets and are just waiting for the paperwork to go through to start their live accounts.
thanks for sharing,will give it a try since nothing to lose
  • #3
  • Aug 12, 2007 11:15am Aug 12, 2007 11:15am
Great. Please keep us posted on your progress.

There seems to be at least two general strategies to attack this.

The "go-for-broke" strategy taking huge risks with the aim of hitting $500 in one or two trades. I know of at least three people who've already successfully done this.

The "steady-as-she-goes" strategy using sound money management practices and careful analysis prior to entry/exit. IOW, treat the initial demo as a real live account. Obviously this will take longer but the deadline is end of the year so there's lots of time.
  • #4
  • Aug 12, 2007 11:44am Aug 12, 2007 11:44am
i think that Capital Market Services International – BM, Ltd. (CMS International) is not regulated by the NFA and CFTC. It is offshore company (wholly-owned subsidiary of Capital Market Services LLC) and you have the same risk as with the other offshore brokers.
  • #5
  • Aug 12, 2007 12:03pm Aug 12, 2007 12:03pm
That was my first concern.

http://www.cmsfx.bm/en/why_cms/profile/

Quote
CMS International is a wholly-owned subsidiary of Capital Market Services LLC (CMS LLC), a New York-based limited liability company. CMS LLC is a registered Futures Commission Merchant (FCM), a member of the National Futures Association (NFA) (Member ID# 0313199) and is regulated by the Commodity Futures Trading Commission (CFTC). As a subsidiary of CMS LLC, CMS International strictly adheres to and follows the rules and regulations of the NFA and CFTC.
  • #6
  • Aug 12, 2007 12:16pm Aug 12, 2007 12:16pm
vttrader was consitantly crashing on me or leaving me with a non moving feed when i tested it.
  • #7
  • Aug 12, 2007 12:30pm Aug 12, 2007 12:30pm
vttrader is very good platform but their execution was the worst.
  • #8
  • Aug 12, 2007 1:16pm Aug 12, 2007 1:16pm
its not hard to reach 500 dollars on a 10k. in fact its too easy. i would be interested if they said something like 500 dollars if u make 100% ROI on ur 10k.

what are they gonna do if everone hits the 500 dollar? pay it out? not likely.

"Once 30 round-turn lots have been traded, the money can be withdrawn and/or transferred freely. "


hmm 30 round-turn lots? what leverage are we using with the 500 dollars?

quite a smart marketing ploy. btw VTrader doesn't even start up properly.
{Promotion Removed}
  • #9
  • Aug 12, 2007 5:00pm Aug 12, 2007 5:00pm
It seems to me that CMS have got their maths wrong with their rebate.

Since when did 2 pips worth of 10 standard 100K lots equate to $20 !
  • #10
  • Aug 12, 2007 9:07pm Aug 12, 2007 9:07pm
Open 2 accounts and go long and short on each of them. Reach that $500 in no time.
  • #11
  • Aug 12, 2007 9:56pm Aug 12, 2007 9:56pm
Quoting mister_doodi
Open 2 accounts and go long and short on each of them. Reach that $500 in no time.
you shoudn't have to do that if you have a system, these or the kind of trader they or trying to attract, once they get that $500 account it will problay be blown in a month, the goal is to get that account and do some good with it.
If I Go Broke Trying Then I Will die happy.
  • #12
  • Aug 14, 2007 12:05am Aug 14, 2007 12:05am
Whats the maximum leverage they offer ? for this promotion
  • #13
  • Aug 14, 2007 2:37pm Aug 14, 2007 2:37pm
Thank you for applying for a live account with CMS International Bermuda.

Unfortunately we have to inform you about the fact that we are not accepting US clients due to US tax regulations.

Please feel free to contact one of our representatives in New York . As we are an independent company we are having separate promotions. Therefore, we cannot advise you of any promotions that CMS New York might have.

Good luck and thank you for your interest in CMS International
  • #14
  • Aug 15, 2007 10:57am Aug 15, 2007 10:57am
Ok Opened account 10 hours ago opened GJ 2 lots and I'm 715 demo dollar up on a 10,000 demo acct. Submitted that form will update what they are up to.

The fineprint says you have to make 30 full 1 lot trades before they ll let you withdraw the money. I see... at $500, each pip is worth around $10 so they are giving you 50 pips to gamble with and after 30 gamble if you are lucky you can do whatever with the money.

Well I got bad news for them :-) at 50 pips stop loss some people can pull hair out of their CEOs dull head.
  • #15
  • Aug 15, 2007 11:36am Aug 15, 2007 11:36am
Where did you guys read on the site that states that the 500 dollar promotion is only for US citizens? I've scanned through the page and see nothing like that. I've even opened an account with all my details ( I'm Singaporean ) and there were nothing suggesting that this promotion is only for US citizens.
  • #16
  • Aug 15, 2007 11:44am Aug 15, 2007 11:44am
thanx for the tipping.

now I have to go and take my $500.
  • #17
  • Aug 15, 2007 1:13pm Aug 15, 2007 1:13pm
registered 1 hour ago, allready made 650€ that much more than 500$ ^^
  • #18
  • Aug 15, 2007 1:38pm Aug 15, 2007 1:38pm
Quoting JodyOng
Where did you guys read on the site that states that the 500 dollar promotion is only for US citizens? I've scanned through the page and see nothing like that. I've even opened an account with all my details ( I'm Singaporean ) and there were nothing suggesting that this promotion is only for US citizens.
Hi, Jody.

Not sure why you can't find the notice but it doesn't matter. It says the promotion is unavailable to US citizens. Iow, anyone can open an account except US citizens.

As a US peep myself, this restriction makes me choke but I'm glad most of the rest of you seem to be kicking ass.

Now, who'll be the first to withdraw real cash money into their bank account?
  • #19
  • Aug 15, 2007 1:54pm Aug 15, 2007 1:54pm
Also opened my demo, will use the $500 to run some sort of EA.

Only Q I have is what does "30 round-turn lots" mean
  • #20
  • Aug 15, 2007 2:41pm Aug 15, 2007 2:41pm
Quoting Fx1618
Also opened my demo, will use the $500 to run some sort of EA.

Only Q I have is what does "30 round-turn lots" mean
That means buying/selling the equivalent on 30 lots that is 300 minilot
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