Well Deltastock is offering a 50 EUR / 65 USD / 100 BGN ‘give away’ or ‘free money’ or whatever you want to call it i.e. no deposit required and you can withdraw your profits (as well as a part of the bonus depending on a certain number of trades) (for the month of March 2011 anyway).
My ‘title’ aside (I dont’ ‘work’ for the broker but only offer technical support): I’m ‘on the fence’ when it comes to these types of things. Yes: it’s a good way to attract clients for sure. Yes: it’s a good way to ‘get your feet wet’ with a live trading account as opposed to a demo trading account. Is it ‘cheap’ advertising??? That’s where I’m ‘on the fence’ really i.e. ‘undecided’ is probably the word to use. I mean you don’t see the likes of Lind-Waldock offering ‘bonuses’ but then again we’re talking FOREX trading here so the ‘rules’ are a bit different of course (I guess).
But you know what: whichever ever way you ‘slice it’ it’s ‘free money’ and certainly better than demo trading. I’ll say this though: I think the only way that you can ‘filter’ the ‘scam’ bonuses from the ‘real’ bonuses is by looking at the amount of ‘bonus’ offered in relation to the minimum lot size that is tradeable. In other words (and this I know from experience having taken Plus500 up on their ‘bonus’ offer some time ago): the ‘bonus’ was $20 at the time (I’m not sure if this has changed as I’ve not looked today but I saw Plus500 mentioned in an earlier post). Well here’s the thing: there is absolutely NO way that you can trade ANY of the instruments that they offer with $20 while managing risk no matter on WHICH timeframe you trade. So that can (to me anyway) mean only one thing i.e. they know this and they’re 100% sure that NOBODY is going to be able to make a profit out of that $20 ‘free money’ (and of course hope that after losing the $20 you’re going to fund your account with your own money). Sorry: I’m not going out of my way to ‘knock’ Plus500 I assure you i.e. they are mentioned purely for the reason that they’ve already been mentioned on this thread and after ‘doing the math’ (and alright: the reviews they’ve received on FPA aren’t helping them much either but that’s beside the point really). With a bonus such as that which Deltastock is currently offering (and has offered before) it is indeed possible to trade ‘correctly’ i.e. it’s possible even with such a small amount of money to manage risk and trade CERTAIN instruments albeit on shorter timeframes. I guess what I’m saying is that the Plus500 example is a classic example of being ‘undercapitalised’ if that makes sense and as I said my purpose is not to ‘knock’ them here (hell I know of brokers that offer a $5 bonus with minmum lot sizes of 1 000 units or a micro-lot. That’s not even enough to open a position let alone let it go against you for a pip or two ALTHOUGH the same broker to which I refer offers 500:1 leverage)!!! And no: Deltastock is not the only one to have offered ‘decent’ or ‘realistic’ promotions such as this i.e. I know for a fact that FXDD, a long time ago anyway, ‘gave away’ $100 with a minimum lot size of 1 000 units or a micro-lot. Again: this was tradeable. I know of another crowd that ‘gave away’ 100 GBP too. Same thing i.e. it was tradeable (although they were a futures broker so you were very limited in what you could trade).
But, as I advised somebody else the other day, it depends on whether you want to ‘gamble’ or learn to trade. The other way of looking at these things is to simply margin the entire account out and ‘hope for the best’!!! LOL!!! It’s ‘free money’ so if you lose it then you’ve really lost nothing. On the other hand you may get ‘lucky’ and catch a nice move and end up with $1 000!!! LOL!!! ‘Never say never’!!! LOL!!!