Brokers' cheap tricks - fake promotions

I would like to share my experience with fake promotions and etc. Looks good but crap in reality.

eToro

*The "Friend Referral" promotion

Sound good

Invite your friends to the eToro experience! Get $100 for yourself and $50 for your friend.

Every time one of your friends registers with us, we will pay you $100, once your friend makes his first deposit of at least $100.

In reality

You won't be paid) you account will be credited with $100 bonus and you won't be able to withdraw it in anycase. You cannot withdraw etoro credits.

The "Friend Referral" promotion is valid for investing in stocks and copying traders on eToro OpenBook. If you wish to redeem the free credits for manual trading, all you have to do is fund your account. So it goes like this you can manually trade with it in case you deposit but if you never deposit you will not be able to manually trade with the $100

Point 8 of Terms and Conditions: 8. Conflicts of Interests

8.1. You accept and confirm that a conflict of interests may arise when the interest of eToro Group Ltd. and its affiliates competes or may appear to compete with your interests under these Terms and Conditions.

8.2. Specifically you hereby acknowledge and confirm that:


We may assign or transfer the execution of Your orders to another member of the eToro group or companies;

We may execute at the same time orders by different customers that are opposite to one another;

We may establish business, including without limitation, trading relationships with other issuers of financial instruments and We may have a financial interest in such instruments;

We act as a market maker and in this context there may be inherent conflicts of interest; and

We may compensate and/or share our revenues from your activity with our affiliates, partners and/or other similar parties performing marketing activities on our behalf. For instance, for information as to compensation paid to our affiliates please see http://www.etoropartners.com/. You hereby further acknowledge that We also may compensate other users who You have elected to follow and/or copy (such as qualified Gurus).

That there is enough for me now to go near this broker bucket shop. Your only interest in this game is making money, they state they are competing against your interests... Wankers.


KEEP WELL AWAY FROM eToro