Bonus accounts are better then demo!
Dear all its my personel idea that bonus accounts are even better then demo. Bonus accounts provide us an opportunity to test our effeciency and trading skills. One side we start tradeing remaining an unwanted plan(brokers terms n cond and tv including other many limits and restrictions) we also can test brokers standard of service and behave on trades on the othe hand we input our selves to test how much we can go deeper in watter to touch bottoms. If we got profits its not compulsory to make money freelt but can atleast check our strategy and other tools. If we succedd means we are pass if we fall we failed. I gonna give you my 2 examples to make you understand it simply.
Before it on demo we do not take things sereusly thinking that no matter if we get loss.
Example no.1
I got bonus of 500 usd on insta. Remaining under term and conditions the foal was to make atleast 50 usd in a month to replish and get withdraw. I started trade and in 7 days i got more then basic requirements from broker.
In example no.2
I got bonus of 150 usd with a tradable margin of only 30 usd. The challange was 1 usd worth on each 1 lot traded. But it was compulsory to stay above an equity of 120usd while trades openings at all.
I got profits on it too. So the cocept that bonus accounts are not useful i think its a misconcept. When you work on bonus account it provides you golden chance to test both sides and yes you have to remain under many restrictions so it can prove wether your teal plans can also be acheived or not.
So its better to start your trades on a bonus account if you found one.
You sure you’re not affiliated with good 'ol Instaforex there???
But whatever the case:
Just make DARN sure you that READ the terms and conditions of these oh so sweet bonuses. Most all of them are designed for nothing other than to coerce you into depositing funds especially those “bonus match” things where the broker will match your deposit amount up until a certain amount. There’s one particular broker around here that does this BUT will withdraw the bonus the moment any loss reaches more than the actual capital that’s been deposited and starts eating into the bonus amount. What happens??? Instant margin call and your money is gone. And then there’s the other bonus type offerings where you have to ensure that you’ve either traded a certain volume or placed a certain number of trades within a given period otherwise same thing. All this is for is to encourage frequent and over trading. You cannot win with this stuff. These brokers are WAY too clever. Fact of the matter is: the moment a broker starts offering this nonsense then look for another broker. Pretty simple rule of thumb.
Actually and in fairness: if you KNOW what you’re DOING well then why not take advantage. Unfortunately though that’s the minority especially around these parts i.e. these things are not designed to attract experienced traders but the broker can afford a few winning trades by experienced traders.
I agree with you, I said the same thing differently on another thread.