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sign up bonuses

  • #1
  • First Post: Edited 7:55am Dec 17, 2009 7:10am | Edited 7:55am
some brokers offer bonuses for signing up. they must have an insider dealing against those new accounts in order to take back this bonus and more.

is this possible?

or maybe they rely on the statistics that most traders will lose their capital along wit bonus before they quit
  • #2
  • Dec 17, 2009 8:53am Dec 17, 2009 8:53am
Quoting hnosair
some brokers offer bonuses for signing up. they must have an insider dealing against those new accounts in order to take back this bonus and more.

is this possible?

or maybe they rely on the statistics that most traders will lose their capital along wit bonus before they quit
As far as I know the bonus is only for offsetting losses, you can't draw it out. Also you have to make a minimum number of trades over a certain period.

That's the way it works for most spreadbet bonus offers here in UK, it might work differently for other brokers in other countries.
  • #3
  • Dec 17, 2009 9:00am Dec 17, 2009 9:00am
same here in US. but even if you execute certain number of orders, ultimately they cannot give away free money. somehow, they do get it back and more.
  • #4
  • Dec 18, 2009 6:44am Dec 18, 2009 6:44am
I would agree with you here because,

Why traders will go for sign up bonus accounts??

1- Do not have money to fund an account.(i had been there)

2- They are trading successfully but would like to try some other strategy on this bonus money.

3- They are new to FOREX, doing it on demo accounts and don't want to fund an account that early. So they would like to experiment that how trading real money could effect their psychology.

4- Traders that are seeking (successful and unsuccessful both) a new broker and that's a good opportunity to test the brokers execution and spread.


Now first three types will most likely blow these account's. But the positive thing for broker is that they will remember (have soft corner for the broker) this broker when they will be going for live trading again.
  • #5
  • Dec 19, 2009 3:38pm Dec 19, 2009 3:38pm
They make their money back on the spreads. They specify that you have to trade a minimum number of round turns before you can withdraw your bonus.
"Vidi, Vici"
  • #6
  • Dec 19, 2009 4:06pm Dec 19, 2009 4:06pm
My opinion....don't fall for these #broker bonuses. If you do, read the fine print. Most of them state something along the lines of: you can not withdrawal the bonus $ unless you execute XXXX number of trades within the next 12-18 months. Trying to meet that XXXX number of trades will cause you to over trade and lose.
  • #7
  • Dec 19, 2009 5:19pm Dec 19, 2009 5:19pm
If you really need the bonuses, Forex is not for you as you are to undercapitalised. As a consequence you will most likely leverage as high as possible.....bye bye account!
Just my 2cents...

Regards
Peter
{Promotion Removed}
  • #8
  • Dec 20, 2009 11:01am Dec 20, 2009 11:01am
Quoting GulfCoastPip
My opinion....don't fall for these #broker bonuses. If you do, read the fine print. Most of them state something along the lines of: you can not withdrawal the bonus $ unless you execute XXXX number of trades within the next 12-18 months. Trying to meet that XXXX number of trades will cause you to over trade and lose.
agreed with you..
  • #9
  • Dec 20, 2009 11:50am Dec 20, 2009 11:50am
when you open up an account with any of these retail bucketshops, they assume that the funds you deposited are already theirs.

i can imagine that they pay bonusses- regular thing is paying commission, meaning the broker shares a little amount of the spread they earn on any trade with the person which brought the customer. called introducing broker.

Quoting hnosair
some brokers offer bonuses for signing up. they must have an insider dealing against those new accounts in order to take back this bonus and more.

is this possible?

or maybe they rely on the statistics that most traders will lose their capital along wit bonus before they quit
  • #10
  • Dec 23, 2009 9:27pm Dec 23, 2009 9:27pm
I did open an account that offered a percentage match bonus for my deposit. I thought it was a nice incentive and it is a higher percentage that a regular savings account offers you. Anyway, I qualifyed for the bonus since I had enought trades, I open the account in November, I have made enought money and withdrew some. In their last email they told me that I did qualify for the bonus and that the money will be deposited in February 2010 when their promotion ends. I don't have any problem with it but they should deposit the bonus as soon as the requirements are met. I don't remember reading anything about when the deposit would be credited to my account.
  • #11
  • Dec 24, 2009 3:32am Dec 24, 2009 3:32am
Hi All Traders...

You can test this broker...
The best In Asia 2009
  • #12
  • Dec 24, 2009 4:04am Dec 24, 2009 4:04am
Quoting myonline
Hi All Traders...

You can test this broker...
The best In Asia 2009
Be careful with this broker. Rated as SCAM at Forex Peace Army - read this: http://www.forexpeacearmy.com/forex-...e-profits.html
  • #13
  • Dec 24, 2009 9:45pm Dec 24, 2009 9:45pm
Quoting myonline
Hi All Traders...

You can test this broker...
The best In Asia 2009
Haha, the "best in Asia"? where do you get that for a bucketshop?
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #14
  • Dec 24, 2009 9:52pm Dec 24, 2009 9:52pm
Quoting hnosair
some brokers offer bonuses for signing up. they must have an insider dealing against those new accounts in order to take back this bonus and more.

is this possible?

or maybe they rely on the statistics that most traders will lose their capital along wit bonus before they quit

The bonus is always under the condition that you over trade over a certain period of time, so that they defenately get theyre bonus back in spreads.
The greatest force on earth is compound interest.
  • #15
  • Last Post: Dec 26, 2009 10:57pm Dec 26, 2009 10:57pm
Quoting sebastionay
The bonus is always under the condition that you over trade over a certain period of time, so that they defenately get theyre bonus back in spreads.
"Overtrading" is ok if you know what you are doing and make money out of it. It is more of a scalper or a daytrader's style. http://cdn.forexfactory.com/images/icons/icon6.gif
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