FXDD is having a Holiday Bonus: I call this a Red Flag (suicide) Bonus!
* Free $100 trading money for all "new accounts". This is trading money that you can use for live trading - however, you cannot withdraw this amount - only PROFITS made on it!
Why is this a red flag? I was informed that FXDD is currently swamped with hundreds, if not thousands of new applicants each day. As we all know, it is a mathematical probability that among the thousands of trades, there can be one "SUPER LUCKY" (or many of it) such that, a mere $100 could make $1000 instantly.
For example: One could have applied for 2 accounts; one would have went LONG EURUSD on one account, and went SHORT EURUSD on one account several minutes of the FOMC report (or any of those very volatile news). Surely, one account will go bust/margin call, while the other would ride the wave till kingdom come.
Another Example: I was told that one can have as many "New Accounts" by applying that much. So go apply for 256 New Accounts then!
Step1: Go long EURUSD on 128 accounts, go short EURUSD on 128 accounts. Go maximum lots, 10 pips to margin call and 15 Pips to TP. You will get 128 accounts doubled money!
Step 2: Rinse Repeat!
Step 3: after several cycles, you could end up with a fat $25K account.
Guess what will happen if all these free loaders filed for withdrawal?
* Free $100 trading money for all "new accounts". This is trading money that you can use for live trading - however, you cannot withdraw this amount - only PROFITS made on it!
Why is this a red flag? I was informed that FXDD is currently swamped with hundreds, if not thousands of new applicants each day. As we all know, it is a mathematical probability that among the thousands of trades, there can be one "SUPER LUCKY" (or many of it) such that, a mere $100 could make $1000 instantly.
For example: One could have applied for 2 accounts; one would have went LONG EURUSD on one account, and went SHORT EURUSD on one account several minutes of the FOMC report (or any of those very volatile news). Surely, one account will go bust/margin call, while the other would ride the wave till kingdom come.
Another Example: I was told that one can have as many "New Accounts" by applying that much. So go apply for 256 New Accounts then!
Step1: Go long EURUSD on 128 accounts, go short EURUSD on 128 accounts. Go maximum lots, 10 pips to margin call and 15 Pips to TP. You will get 128 accounts doubled money!
Step 2: Rinse Repeat!
Step 3: after several cycles, you could end up with a fat $25K account.
Guess what will happen if all these free loaders filed for withdrawal?