I wanted to signup to a broker, and in my search I came across a competition website. I wasnt sure if they are real or not. They say to sign up through a broker and you can go into a competition to win $10000…
Anyone heard of these guys before? Know anything about them? Their called forexcompetition
They have a strong association with CMS FX, possibly an affiliate, so are using the competition as a well baited hook, primed for unsuspecting newcomers.
Many brokers are providing such competitions, 10,000 will be provided in the form of trading credit which you cannot withdraw. If I won it I would trade fully leveraged… balls out or bust!
CMS do appear to be big and international but there apparent lack of desire for client retention leaves a lot to be desired…
In some sense I have to agree. Isn’t it sad though that brokers have to stoop this low and no longer have the ability to attract clients based on support, quality of service etc.
The trouble with these comps is that you have to open an account first, transfer funds just to qualify and then you are locked in. Later when you want out… the headaches start.
No I stand my ground, any Broker who has to use a competition to attract new clients is one to avoid like the plague!
I disagree, in all industries ‘special offers’ are used to attract cutomers. With so many unregulated companies promising the world, other companies do have to think outside the box to remain competitive. If its being offered by a well regulated company and you’ve read the fine print then I don’t see the problem.
But in response to the company mentioned at the start of the thread… avoid like the plague! Always consider offers from FSA regulated companies… they simply cannot make outrageous lies like offshore bucketshops do. If they do they will get fined and kicked out of the FSA.
a friend of mine was asking me to make an account here forexstars.com/en/ (probably because they have a partnership program or smth alike). Don’t know weather they are reliable and if it it easy to take money out of the system, but he plays there a lot