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Brokers offering FREE money to open account

  • #1
  • First Post: Sep 9, 2009 2:32pm Sep 9, 2009 2:32pm
The purpose of this thread to to post promotions by brokers who are offering free money to open a live account.


As of 9/9/09 IBFX is offering $50 to open an account. conditions apply. I am in no way affiliated with any brokers.
  • #2
  • Sep 9, 2009 3:24pm Sep 9, 2009 3:24pm
Most of the brokers that offer free cash have high spreads too. By the time you meet the conditions of the free cash, you'll likely pay more then what the offer was offering.
  • #3
  • Sep 9, 2009 4:15pm Sep 9, 2009 4:15pm
ALSO - If you win they can take the bonus back AND your profits. FXDD did that a lil' while back to people that didnt add funds to the account. The conditions of the freebie said they could do anything they wanted.
  • #4
  • Oct 20, 2009 11:00am Oct 20, 2009 11:00am
Quoting Fulltime247
ALSO - If you win they can take the bonus back AND your profits. FXDD did that a lil' while back to people that didnt add funds to the account. The conditions of the freebie said they could do anything they wanted.
Hi.
I added a substantial amount of funds to FXDD to take advantage of thier crazy 8's bonus a few months back. I had no issues getting my money back after satisfying the round-trip requirement.

Did they seriously take your money? That concerns me.

Thanks,
RBCOE
  • #5
  • Oct 20, 2009 10:27pm Oct 20, 2009 10:27pm
Quoting therbcoe
Hi.
I added a substantial amount of funds to FXDD to take advantage of thier crazy 8's bonus a few months back. I had no issues getting my money back after satisfying the round-trip requirement. Did they seriously take your money? That concerns me.

Thanks,
RBCOE
Read the bonus conditions. They can do whatever they want. If you've added your own cash to the account you're prob safe. They mostly target people that never make a deposit and just use the free money to test risky but very profitable strategies. If you hit the jackpot with their money dont expect them to pay since they're a bucketshop and your taking money out of their pocket.
  • #6
  • Oct 21, 2009 12:29am Oct 21, 2009 12:29am
Quoting Fulltime247
Read the bonus conditions. They can do whatever they want. If you've added your own cash to the account you're prob safe. They mostly target people that never make a deposit and just use the free money to test risky but very profitable strategies. If you hit the jackpot with their money dont expect them to pay since they're a bucketshop and your taking money out of their pocket.
did you trade their required round trip amount ?
  • #7
  • Oct 21, 2009 12:46am Oct 21, 2009 12:46am
It wasnt me. I would NEVER trade with FXDD!! I was reading a thread about bonuses and quite a few traders that never made a deposit had problems collecting their winnings. Of course they fulfilled all requirements regarding lot turns but since they made a LOT of cash with free money when it came time to withdraw the cash was gone and they were directed to read the bonus requirements but basically everyone knew the reason - they never funded the accounts and had won too much cash.

FXDD reviews - [SCAM Broker] - http://www.forexpeacearmy.com/public...w/www.fxdd.com
  • #8
  • Oct 22, 2009 9:15pm Oct 22, 2009 9:15pm
Here's the thread where FXDD reversed the bonus:
http://www.forexfactory.com/showthread.php?t=188934
  • #9
  • Oct 23, 2009 7:18am Oct 23, 2009 7:18am
Quoting Fulltime247
Here's the thread where FXDD reversed the bonus:
http://www.forexfactory.com/showthread.php?t=188934
Thanks for the headsup FT.
That's pretty disheartening. I've dealt with a couple brokers before and ended up not liking thier service. So far I felt a good rapport with FXDD because thier customer service has worked with me to produce quick resolutions and I haven't faced any of the other challenges that other talk about like slippage and stop hunting.

I'm going to do a little more investigation before I withdraw all of my funds but in the meantime is there a (relatively) honest broker you've worked with that also provides decent customer service?

Thanks again.
  • #10
  • Nov 16, 2009 2:34am Nov 16, 2009 2:34am
I was just reading about the IBFX $50 offer (still available) and thought I'd mention it here, particularly for other newbies like me. (FYI - I have not actually signed up for this account, so I'm not knocking IBFX.)

In the Terms and Conditions it mentions:

Quote
The incentive will be available for withdrawal or transfer to another account after the customer has executed 5 round-turn standard lot trades in that account. For mini accounts to qualify they must trade the equivalent number of standard round-turn lots. (1 mini lot = 0.1 standard lots)
Which means (correct me if I'm wrong) that you need to make at least 50 trades using 1 mini lot and 500 if using 1 micro lot (which I think is what most would use with only $50). So don't think you can just make 5 trades and take money out.

The last item is this:

Quote
Interbank FX reserves the right to modify, amend or discontinue this program at any time.
Which I guess means they can do what they want with these accounts, like FXDD did?

Anyway, just thought I'd point this out. As always, read the fine print.. .but hey, when you see a company offer "free money", you should expect to have strings attached.
  • #11
  • Nov 16, 2009 4:29am Nov 16, 2009 4:29am
I like threads like this. No, really.

I am looking for a broker to offer me free money, so that I don't bother to trade or do whatever else. Anyone of the brokers out there gives the money away? Please help!
  • #12
  • Last Post: Nov 16, 2009 4:46am Nov 16, 2009 4:46am
Then wait for FXDD to come up with another Christmas Bonanza..

Last year, they offered free $300 of which all profits are withdrawable. however, they realized many applied for multiple accounts then hedged to transfer money from one to another.. In the end, FXDD became aggressive and started removing these bonuses even from legit traders...

I find this a big waste of time.. What are you? a beggar trader? If you cant afford to trade forex, better NOT gamble any penny you have left.
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