This is a general question, so anyone with trading experience can join the discussion.
I want to know how this 500% bonus offered by Profiforex can be best used. My first interest was whether the bonus can be withdrawn, and yes it can but not instantly. There are two sides to this bonus:
The very instant I received the bonus, my leverage increased from 1:500 to 1:3000, and I love using high leverage (Though it increases my risk, but my trading strategy has no tolerance for loss).
Bonus was not added to my main balance. The only way to withdraw it is to convert it to my main balance, which can be done from the personal area. The whole bonus is not available for conversion immediately; it is released to you as you continue to trade with your main balance.
So here is the deal, if I convert the bonus and withdraw it, it will certainly reduce my leverage back to 1:500. So, I have the options of
Leaving the bonus where it is and enjoying the leverage 1:3000
Convert and withdraw the bonus.
Which would you prefer or how would you use such a bonus?
6 times faster could also go well if you are making profit. So, I guess I’ll just accumulate the bonus and withdraw it or add it to the main balance and trade with it. Thanks for your comments though.
This is the account I opened just to test this bonus. I actually got the bonus. The bonus was given as credit. I have converted some of the bonus into my main balance to help with my margin. and if I want to withdraw it, I could simply do that. there is about 494 bonus credit left, which I can convert once it is available to do so. So, I the bonus looks real and it is sitting in my account. The only bad part of this bonus is that it increases your leverage and increases risk.
I use this broker as well. I got about 500 USD as credit bonus. I was able to convert 50USD to my balance and I have withdrawn. The disadvantage of this bonus is that you can’t withdraw it all at once.
500%, im wondering what conditions comes with it, no broker will give away free money, and though i dont know much about it, but something tells me that it can be a formula that has a high probability of failure, if someone is able to withdraw such bonus then im all ears.
To be honest I really dislike trading with an account that has any kind of bonus, because they always come with some sort of a catch. I’d rather be in full control of the money I have invested.
Done that already. It is Free, but I did not get to withdraw it as soon as I got it. I had to do some trades and for each trade I made, parts were being released. Still free money though and I like it.
…and thats the trick! Most new traders will never manage to complete the number of lots traded to claim all the ‘bonus’ without blowing their accounts. Even those that do manage will have likely paid several times the ‘bonus’ in brokers fees/spreads
Forget about it. You will lose bonus as well as your own money.
But if you love experiments deposit small amount like $30 and see how it goes.
Good luck
