CNBC FXCM free $25

My gf seemed really interesting in trading, and would always sit right by me and watch me trade every day. So one day about 4 weeks ago, when I noticed that FXCM was giving a free $25 dollar account to anyone that registered for the CNBC challenge, I got her one too. Within three weeks, she turned that into $2400!!!! I told her to cash out, and she just received the check. lol.. I still remember at one point, her account balance was like $600 and she was trading 8 mini lots. In any case, we got some free money!!!! Now we are trying to figure out if we want to spend that money in Vegas or Florida.

Anyone else make any free money out of that promo? or lost that, deposited more and lost that too?

Wow!

If she turned $25 dollars into $2500, - Vaction with $1500, the remaining $1000 re-invest it and turn it into 25,000$ if she is that good.

I understand that it was simply a fluke. Markets were trending like crazy. Better to put 1000 $1 bills in a pile and set them on fire than put it back into the market using no money management. The pile would atleast give us some heat, while the market would give us nothing but stress.

is the free $25 still available?

it seems to be. just go to cnbc's miilion dollar challenge website

they know that u will lose the 25, deposit more and lose that too. Thats what they want. So, beware. FXCM micro is most likely a bucketshop operation. Their website says that they may or may not offset client trades. Most of us can guess what they do. Anyways, newbies who want to start getting s feel for the market, but don't want to trade demo can use this. But if I were a newbie starting off, I'd

1. use money management always. The reason I didn't try to explain to my gf about MM was that she was just messing around. She will never take up a career as a trader or anything financial services, so it doesnt matter. She was in the mood for gambling, and since we don't live in Vegas, this was a verygood option. (Even if u win without MM, you will develop a mindset that MM is useless, which is fatal in trading and very hard to get out of.)

2. make up my mind that in the even that i lose the free money, I wont deposit any of my own money. (It shouldn't come to this point. Proper MM will 99.999999% make sure you don't lose it all.)

"...legal U.S. resident to play CNBC.com's Million Dollar Portfolio Challenge."


AHHHH NAZIS!!!! *grml*

that isn't mentioned on the fxcm site. I don't think they care. Email them and find out.

I got this when I tried to register for an account.
Why do they give you a dropdown field with different countries in the first place when only US citizens are allowed anyway?

Someone interested in openening an account for me?
Will share profits.

if she really did that im suprised she doesnt want to take up trading even part time. I mean not only did she have practically no money to start with she made $2400 in less than 4 weeks? thats crazy. She must have the bug for it now.
It wud be worth re-investing another $25 to see if she can do it again.

I signed up two weeks ago. I turned the $25 in $300 so far. Mostly by riding the GBP/USD up last week and following it down this week.
The MM is scary from the start because you must trade at least 1 microlot (.10 pip). The upper limit you can trade is 9 microlots. I started with 1 microlot last week just to keep from getting a MC on my first trade or two. When they were winners I kept adding lots to each trade. Friday I had 9 microlots on GBP/USD to sell when it failed to breach 1.5000 resistance and rode it down. I never used risky MM before in my trading but since it wasn't my money I threw caution to the wind and had some fun. I guess whenever I get the itch to gamble in my main account I'll just go to the free one to get it out of my system. At least until I blow the free account up.

yes, she did. She is smart enough to understand that one day she will lose it all. Maybe in the future she will get the urge to do it again, and deposit some money without telling me.... I don't want ot encourage that kind of behavior (no MM). Thats why I'm not encouraging her to try again.

Mate, u shud encourage her. I understand what u say though about her fluking it, and the dangers of wanting to put more money into it, cause she cud end up puttin more and more in untill she loose the lot and become mentally ill.
But still maybe she has a gift?

there any other brokers offering free start up cash?

Interesting that this thread is in the beginner's section....hmmmm

I'd rather spend that 25 or 50 or 100 dollars on eating out or something than put it into the market with a very small likelihood of making it big.

Clockwork - I guess the noobs can understand what the hell Im trying to tell them.

I believe most brokers do the whole you put some money in, and we'll give you some more for free thing. I cant think of anyone who gives free cash to start off.

I dont believe in any such thing as a "gift". She has a hard time changing her direction on a pair. I saw a couple of times, the market was telling me that it would be moving higher, and she would not cover her shorts. She told me that she was hoping to "break even". Obviously she lot money on those trades. Once, she went from like 160 to 24 dollars.

Sounds like she was quite flukey then. Well maybe that shows that the trend in your friend does work out, if thats what u mean by she dont change direction.
Hope that 2.4k works out nicely for u anyways. gd trading to u.

Quick before she forgets! Get this into an EA! Call it "beginners_fluke"!

I think I've got my wife just about talked into trying her hand at trading. She's tired of being a forex widow.