What stands behind 10-20-30% Deposit bonus! | Forex Factory

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What stands behind 10-20-30% Deposit bonus!

  • #1
  • First Post: Apr 8, 2011 3:11am Apr 8, 2011 3:11am
Hello, at first remember nobody will want to give you money for free!

Just want to show you terms and conditions of such bonus:

http://img600.imageshack.us/img600/16/unledek.png


Be smart!

John.
  • #2
  • Apr 8, 2011 10:50am Apr 8, 2011 10:50am
Quoting JohnFX_King
Hello, at first remember nobody will want to give you money for free!

Just want to show you terms and conditions of such bonus:

http://img600.imageshack.us/img600/16/unledek.png


Be smart!

John.
This has been going on for years. Basically, a deposit bonus is something that a deal desk offers because statistically they get about 50% of your money after x amount of trades. So they offer 10% or 20% bonuses for opening an account, but of course, you have to run x amount of trades to keep it. Hey, I'd give you $50 extra if I knew I was going to get $250 back!
  • #3
  • Apr 8, 2011 4:54pm Apr 8, 2011 4:54pm
If I by chance thought this was legitimate in any way, I'd go ahead and read the customer agreement, which usually is so fraught with conditions and clauses that basically guarantees nothing (including not guaranteeing return of your trading deposit).

So, if you actually believe you will be trading in the real market and not the sandbox of this dealer, the following statement alone completely allows them to undo any profit you think you had attained, and simply undo every transaction you made with them; don't get fooled into this, and be aware that your odds are you will lose the 'bonus' and far more:
Quote
HotForex also has the right to block the account and send the initial deposits back to the client.
Read it word for word; should you start making money, they will close you down. Period.

P.S. - Hopefully you've realized they operate out of Mauritius for a reason. Along with all their worldwide virtual offices and a nameless CEO, this has more red flags all over it than the Chinese Party has provided to it's citizens in the past decades!
  • #4
  • Apr 11, 2011 12:49am Apr 11, 2011 12:49am
Quoting IndyTrader
This has been going on for years. Basically, a deposit bonus is something that a deal desk offers because statistically they get about 50% of your money after x amount of trades. So they offer 10% or 20% bonuses for opening an account, but of course, you have to run x amount of trades to keep it. Hey, I'd give you $50 extra if I knew I was going to get $250 back!
Let's talk about this. So only 'fresh' traders are interested in this deposit. They start with small deposit. So they have small account and they need to trade huge lots, because they want to get deposit bonus. In my opinion, deposit
bonus also help brokers to get money back faster.

BTW... Why FXPro doesn't offer any bonuses?
  • #5
  • Apr 11, 2011 1:24am Apr 11, 2011 1:24am
Quoting josef
Let's talk about this. So only 'fresh' traders are interested in this deposit. They start with small deposit. So they have small account and they need to trade huge lots, because they want to get deposit bonus. In my opinion, deposit
bonus also help brokers to get money back faster.

BTW... Why FXPro doesn't offer any bonuses?
Who cares about FXPro?
  • #6
  • Apr 11, 2011 5:21am Apr 11, 2011 5:21am
Quoting IndyTrader
Who cares about FXPro?
They are good MM, so why not!
  • #7
  • Nov 10, 2011 10:27am Nov 10, 2011 10:27am
Bonuses like these normally work 1 standard lot open for $1 of withdrawal of the bonus, example, deposit $500 on a 50% bonus, you end up with an additional $250 in your account, that means in order to withdrawal that amount you would have to open 250 standard lots.
It's easy to be humbled but hard to be humble.
  • #8
  • Nov 14, 2011 8:34am Nov 14, 2011 8:34am
yes, and honestly that would be a fair deal. if we speak of probabilities I'd say the chances of earning more is a lot bigger if you know what your doing, its still a win win situation there ^_^
  • #9
  • Oct 18, 2017 2:37am Oct 18, 2017 2:37am
They're giving you the bonus in perspective of the supposition that you will blow your record before taking the money out. That is the reason there are necessities for trading the particular volume. If they wouldn't require these conditions, for what reason would they give you the bonus? My proposal is: get yourself a dependable broker and carelessness bonuses
  • #10
  • Last Post: Nov 21, 2017 7:06am Nov 21, 2017 7:06am
This is so enlightening to me.
Thanks everyone
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