Good advice, often bonus account create a lot of problems in calculating your account equity as to how to use it for good money management.
Bonuses can be good if utilized effectively however they are always associated with certain terms and conditions, so it might be good to understands the proper terms before availing them.
Sometimes, it is good to be skeptical, especially when money is involved. being overly skeptical could also cost you a lot of money. You could miss good things in life. The bonus can be tested with as little as 1 usd. So why don’t you try it out and see for yourself. Its good.
If you have long term trading plan with selected broker then bonus will be effective for you. However read and understand the terms and conditions
What would I do with a 500% bonus? I will withdraw half the money and trade with the rest. I am going to find out now if this is for real.
It isn’t.
In spite of “jennyscott’s” anxiety to keep bumping this thread to promote it. :rolleyes:
It can’t be. Genuine, ethical brokers don’t use promotions like that, [U]and there are reasons for that[/U].
Reading the small-print of the exact terms of those “deposit bonuses” will clarify how many trades you’d need to do before ever being allowed to withdraw any of the profits.
“Brokers” who make offers like this (and there are a lot of them), without exception, aren’t genuine brokers: they’re all counterparty market-makers whose business model revolves around attracting a particular type of customer, whose lack of experience they know will make such offers appear attractive to them, because they understand very clearly that they’ll almost never actually pay out at all, on such offers, because (a) their system is more or less rigged, overall, to make it close-to-impossible for the customers to win in the long run, because that’s how they make their living, and (b) that’s the potential customer-group their research has correctly identified as the one least likely to be able to trade profitably over the medium-term anyway - in other words, the odds are stacked hugely in the “brokerage’s” favour.
These are “brokers” who don’t offer negative balance protection, and they’re “regulated” (if you can call it that) in a variety of “offshore” places, such as Cyprus, where they’ve deliberately chosen to be regulated for reasons that suit themselves very nicely but - to put it mildly - are far from in their customers’ interests - in other words, [B]they’re “brokers” one shouldn’t trade with[/B].
This is one of the biggest [B]red[/B] flags you can have, warning you [B][U]not[/U][/B] to do business with a “broker”.
It’s also a huge distraction from gaining meaningful, helpful trading experience of the type from which a small minority of forex traders benefit enough eventually to go on to become steadily profitable, overall.
Big bonus always useful for trading and if any person will do forex with strong bonus then surely he can earn reasonable profit. I always prefer to do forex with big amount in order to get the fruitful result.
I personally do not trust brokers who offer bonuses, especially such “big” bonuses like 500 %. There is always a catch in these cases. You should carefully review the Terms and Conditions because if they give you the bonus but do not let you to withdraw it the whole at once, then there is a mislead somewhere. However if you are confident in your trading strategy, give it a try but be careful to not blow your account because of this bonus. It is definitely made to “stimulate” the traders to increase their trading activity and pay more on fees, spreads, commissions, etc.
Read your broker’s bonus agreement before sign up for it.
You are right, it has great benefit. Even though it is a broker’s way of attracting clients, does not make it bad to use. I love taking advantages of broker promotion, especially when it has to do with free money… don’t know about you
Dont know if I got lucy but I con verted $50 bonusin a couple of days. But yes is a promotion thing that most of these brokers give. But if 90% go bust in 2 or 3 months how much are they realygiving away. Also if you take their income by the time you trade bonus 50 times even if you win well they are not giving that much away.
He [I][U]isn’t[/U][/I] right at all, Jonnie: it [B]doesn’t[/B] have any real benefit at all. Far from it …
Actually it [I][U]does[/U][/I]. Because the brokers offering these gimmicks are exactly the ones you should be [I]avoiding[/I]!
Experience has taught them that promotions like these can - at virtually no cost at all - attract exactly the type of customer who doesn’t bother checking their regulatory record (and typically doesn’t even know that you can). And those are, of course, the customers all of whose money they can gradually win. They know what they’re doing.
Reading post #27 on the previous page may help you. 
There is no such thing as “free money” :58:
Credible brokers dont need to offer bonuses
A “Big Bonus” of 500% indeed sounds lucrative but this is something you should actually avoid. I agree there is no such thing called Free Money. These are the marketing strategies adopted by the brokers (especially MM brokers) to make you lose money. To withdraw bonus, you need to fulfil some trading conditions like meeting volumes or doing particular number or lots and to meet these conditions when you trade aggressively, your chances of burning your account increases significantly which exactly your broker wants.
Seems like you have something against this broker and it is not the bonus that pisses you off. Anyone can read the anger and frustration in your post. There are so many brokers offering Bonuses out there, and all company has some form of incentive in one kind after another. Understandably, there are traders who love bonuses and some don’t. It is a matter of choice.
Heres a rule of thumb bro. The more a broker chases your business, the dodgier they become. Reputable brokers have no need to capture your business with “bonuses”.
My guess your another professional spammer here to promote these scab operations
Can you blame her?
This subject is raised time after time and each time we get new posters saying how great this is, while experienced posters try to advise against it.
Can’t help but think that many of these new posters, who never contribute anything useful elsewhere on BP, are either idiots or, more likely, scammers/affiliates/brokers
Lol … I don’t even know which broker it is, whose bonus we’re discussing, here.
That doesn’t matter (especially to me, because I don’t use counterparty market-makers anyway).
What [U]matters[/U] is that the promotion they are/were running is a big red flag to avoid them, for all the reasons that so many long-established, respected members have now so patiently and repeatedly explained in this thread.
My frustration is not with whoever the broker is/was: it’s with the people like Jonnie Kash who have very little idea what they’re talking about and are simply making fatuous, deeply misguided posts in the thread (presumably without even having read much of it, and seeing the explanations that so many members are offering for our perspective that these are deals to [B]avoid[/B]), just repeating their naive, gullible view that there’s potentially something to be gained by allowing yourself to be attracted by these stupid offers, and not appreciating the damage they do to your success-chances in the long run. In any other, better regulated industry, the ways they’re promoted would be [U]illegal[/U].
Like so many of the factors that determine which (few) traders will ever become steadily successful and which (many) never will, it’s actually a matter of [I][B]judgment[/B][/I], based on experience and understanding.
It’s a shame for neophyte traders to make choices which will further damage their future success prospects, in a field of endeavour with such low overall success-rates in the first place.
This is also true.
You can fix a lot of things Lexy but you can"t fix stupid.