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Free money from brokers

  • #1
  • First Post: Edited 1:30pm Jun 30, 2009 4:28am | Edited 1:30pm
i would like to open a small account with a mt4 broker to enable me to place opposing trades and take advantage of the different spreads on the market. i am currently with oanda.
what i would like to know is if anyone knows if any brokers are offering a deal right now?? you know the ones... $200 FREE when you open a new account!! etc etc blah blah.
iv seen a few but not recently. could you PM me if you are aware of anything?
cheers
jon
PATIENCE... DISCIPLINE
  • #2
  • Jul 3, 2009 4:09pm Jul 3, 2009 4:09pm
Quoting g_j_hook@yah
i would like to open a small account with a mt4 broker to enable me to place opposing trades and take advantage of the different spreads on the market. i am currently with oanda.
what i would like to know is if anyone knows if any brokers are offering a deal right now?? you know the ones... $200 FREE when you open a new account!! etc etc blah blah.
iv seen a few but not recently. could you PM me if you are aware of anything?
cheers
jon
you're in luck. I think ibfx are offering a 10% bonus valid till the end of July.

They even lowered the spread recently.

They're probably getting desperate with all the scams they've had of late.

This is just fyi, I wouldn't go with them again even if my life depended on it.
  • #3
  • Jul 3, 2009 5:30pm Jul 3, 2009 5:30pm
I highly doubt you will get any free money from brokers.
You'll probably get a bonus on your deposit for trading XY Round Turn Lots depending on your bonus.
Chances are high that you'll blow it all anyway. That's their plan.
  • #4
  • Jul 3, 2009 7:40pm Jul 3, 2009 7:40pm
Quoting fugly
you're in luck. I think ibfx are offering a 10% bonus valid till the end of July.

They even lowered the spread recently.

They're probably getting desperate with all the scams they've had of late.

This is just fyi, I wouldn't go with them again even if my life depended on it.
there's absolutely nothing wrong with ibfx

btw, they're also giving $50 to join too
  • #5
  • Jul 3, 2009 8:22pm Jul 3, 2009 8:22pm
Yeah, you have to trade bonus money / 15 standard lots. So basically you get to trade commission free, more or less, on your bonus money.

I think you have to trade the entire amount though, so make sure you don't deposit too much money!

Looks like a good deal. My only concern is why the company has to do something like this. Smacks of desperation.
  • #6
  • Jul 3, 2009 9:54pm Jul 3, 2009 9:54pm
Quoting blazespinnaker
Yeah, you have to trade bonus money / 15 standard lots. So basically you get to trade commission free, more or less, on your bonus money.

I think you have to trade the entire amount though, so make sure you don't deposit too much money!

Looks like a good deal. My only concern is why the company has to do something like this. Smacks of desperation.
yeah, they r targeting new people/accounts.
FXDD did it with free $100 during last christmas promo
FXCM did it - $50
and ....(regulated & un-regulated)

"free money, why not a try me?" -> free words of mouth advertisement(as what I'm doing now)
they want you to remember them, taste them, feel good with them with
your "first"-experience broker.
they welcome many of your family members.(no restriction of one IP or roof)

many real-newbies may not survive to finish up 50 mini lots to own that free money. they knew it but hope got the chance that those ppl may come back funding $$$ their a/c again bcos the past feel-good-experiences with the
support/services.
  • #7
  • Jul 3, 2009 11:50pm Jul 3, 2009 11:50pm
Free money Account...Wow....i love Free money Account.
In Past so many Broker given Free account to New Clients.

CMSFXInternational: around jun 2007 they given 500$ free account to so many Traders with condition to trade 30 standard lot to be eligible for withdrawal. there is thread in forexfactory on this

FXDD: offer 100$ free account to new client.

FXCM: in Jan 2009 offer 50$ to New client.

All these offers were really good..... Given opportunity to test their service and platform , and good traders made good money and withdrawal also on these free money account.
Trader gets emotionally Attached to broker due to these Free money Offers.
and When he goes for Bigger investment he goes to these broker since he has tested service of these broker.

Whenever broker gives such free money they put condition to complete certain no of lot to be eligible for withdrawal. These lots are generally adjusted in such a way that broker get's back his money through spread profit.

One month back IBFX was giving 100$ offer to New client but that was on invitation against demo account

I think currently they are offering 50$ free account. i read there advertisement in this month Currency Trader magazine.

You can try for this IBFX offer

there is another strange broker "swissdealing" they are giving 100$ free account but there platform is under beta testing. and this broker is of very different kind they advertise " No deposit broker" they do not accept Deposit.
i wonder what kind of business model this broker ("swissdealing") is using and will they able to pay client there profit. if they really start paying then it will attract other Broker to follow such business model.

One things is very clear, If broker is using Straight through processing and not trading against Trader then he is earning on spread and he want trader to make more profit... Raise account and trade bigger lot so that broker earns more profit through spread.

If anyone come across new promotional offer on " Free real Account offer no deposit required" pl mention in this thread.... it will help those who are Good trader but don't have much money to invest.
if such post are for Traders benefit then i think ForexFactory forum should not take objection on such post.
Pl don't post deposit bonus offers.

If FrexFactor has any objection on my post pl tell me i will delete entire post.

Free money real account gives trader oportunity to Trade Stress Free.
Most Difficult part of trading is handling emotions, and most trader fail in this and suffer from fear of loose.

Best Regards.
Ramdas
  • #8
  • Jul 4, 2009 12:34am Jul 4, 2009 12:34am
well now that FX traders are running away from the US they must be afraid of losing clients
  • #9
  • Jul 4, 2009 6:50am Jul 4, 2009 6:50am
Nothing is free is this world.

One should avoid brokers who offer any such deals to the investors.

You should only invest into stock which you feel is right after doing extensive research and study. The market is almost unpredictable these days, but one should do a research before actually investing into any stock.

Going with a broker offering a few dollars "FREE" doesnt seems like a feasible option to me.
  • #10
  • Jul 4, 2009 7:50am Jul 4, 2009 7:50am
Quoting stock-penny
Nothing is free is this world.

One should avoid brokers who offer any such deals to the investors.

You should only invest into stock which you feel is right after doing extensive research and study. The market is almost unpredictable these days, but one should do a research before actually investing into any stock.

Going with a broker offering a few dollars "FREE" doesnt seems like a feasible option to me.
This forum is about forex not about stock, and there is no "investor" in forex market, there's only "trader" in forex market.
  • #11
  • Jul 4, 2009 10:35am Jul 4, 2009 10:35am
The point is solid, though. What's IBFX's capital position right now?
  • #12
  • Jul 9, 2009 3:31am Jul 9, 2009 3:31am
Hey thanx guys, some very good posts and advise there. cheers ( wish they would make a "cheers" smiley.)
My current account is with oanda as i felt they were the best on the market as far as saftey and respectability goes, and untill now iv never had a problem with them and always had good servise. My idea is to open another small acc. to take advantage of different spreads and different instruments. The amount of money i will use will be very small and so even a $50 bonus would make a difference if its on offer. The way i see it is, if i dont make the required amount of trades then i loose nothing anyway!Atm i am leaning towards ibfx as i have used there platform for charts before and it was ok. It seems to have a decent reputation over all also.
In every buisiness they advertize and work towards capturing there share of the market and so we shouldnt see the forex world as any different imo. It doesnt have to mean they are desperate and dodgy! Although of course you would have to take care in the broker you choose.
Thanks for all the help and advise ,appreciated.
jon

p.s. i will leave this thread open for now in case anyone is interested.
PATIENCE... DISCIPLINE
  • #13
  • Jul 9, 2009 6:28am Jul 9, 2009 6:28am
Quoting stock-penny
Nothing is free is this world.

One should avoid brokers who offer any such deals to the investors.

Going with a broker offering a few dollars "FREE" doesnt seems like a feasible option to me.
I agree with that. If a broker advertise this, then instant you must to realize that broker is not something serious.




Quoting MyaNyx
This forum is about forex not about stock, and there is no "investor" in forex market, there's only "trader" in forex market.
It's not true, you can be an investor in currency market. Use very low leverage, keep your positions open for months/years and you are an investor.
And a trader is just a investor(a very activ one) but who research much more, can digest a bigger risk and DD, and want more profit in a short period of time but the risk is higher.
Investors want less profit but with a more large time span and the risk is lower.
  • #14
  • Last Post: Sep 6, 2009 12:39pm Sep 6, 2009 12:39pm
Well guys! The IBFX 50$ free account offer is still on. If there is any other free account offer by any of the reputed brokers, please post it here so that it can benefit some of us...

Thanks!!
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