Hello guys, my broker just introduced a 500% bonus promotion recently. Though I have been trying to inquire more about this bonus just launched Via here; https://www.profiforex.com/bonuses But can't seem to get get it all clear, please if there is anyone who trade with this broker can shed more light on this new bonus offer...I would appreciate it!
"Please be advised that services described on profiforex.com are not being offered within the United States and not being offered to U.S. residents or citizens." Above was on their site, so this telling me they are crooks in some way. Is that clear enough for you?
Looks like you can potentially be credited from 50% to 500% of a deposit. Let say you deposit 100 and are eligible for 500% bonus. Your bonus is 600. You get credited per lot traded. Each lot traded unlock x$ to be credited. If you withdraw money then 5 times the $$$ is destroyed from bonus. Bonus is only pending. Not yet credited. So you get paid some $ for each lot traded. But you can't really withdraw money, And ... Don't expect to get rich. Since 1$ is easily lost, With one lot. It may refund some commissions, Not even sure ... Let say you trade 600 Lots and get paid 1$ per lot. They'll credit you 600$ if you don't meet margin call. And if they do what they claim to offer.... No time erosion. But I don't know how they attribute the %Bonus.
Those forex and binary options sites all seem like shady gambling scams. Don't get enticed by their cheesy marketing and large % claims.
That's one of the biggest red flags there can be, for a forex "broker". For sure, if they're doing that, they're not genuinely brokers, but counterparty market-makers pretending to be brokers. Keep away.
Lol man they're for newbies just to get the feel of trading. Of course they'll lose there. Just don't try it with some decent money, not more than 100-200 bucks. I know some guys who have fun in the evening drinking beer and making bets just from watching news from TV. Absolutely no management and technical analysis, haha. I can be mistaken by he went in profit or 4 months I mean losing bets&winning, he uses Optiontrade or IQOption I don't remember. And don't get this as serious advice he just has fun from it.
Friend of mine got into some scheme to make 5% each month, after 20 months, salesman calls him to let him know he had made double his money and buddy asked for half the account to mailed to him, and $5,000 was, then salesman calls again and asks if my buddy like to add some real money as this 5% has gone up to 6% but ONLY GOOD FOR TODAY AND TOMORROW and he'd have to fed ex it(out of the country). Now my buddy is in his 90s, he gives me the check for three million bucks to run to fed ex, I took it home and shredded it. His son had transferred me Power of Attorney recently to oversee his fathers' accounts as dad after this deal has had declining mental abilities. So I went into his phone and all the numbers of sales people I blocked, I called company asking for 100% transfer of monies and that would make me more inclined to send three million, salesman is salivating and company wired monies. So my buddy actually got 100% in twenty months. So my buddy calls me and said the bastards cashed the three million and his account is nada, I said I would get on it, few hours later I said dinner on me, the money is still in your home bank and thank fully he didn't want to do it again. If it too good in the beginning, they will try get it out of you in the end, like the IRS.
Gambling sites offer bonuses. Why do you think they do that? From the site itself: Bonus increases your leverage: leverage 1:500+500% bonus=leverage 1:3000 Who benefits from 1:3000 leverage do you think, and at what percentage-loss do you automatically blow up the account? What would it take for you to be clear on what "credit" is?
These kinda guys, expect everyone to lose, quite rightly, your trades won't go to the market, they'll just keep your losses all, if you start profiting they'll get rid of you. 1:3000 leverage, open account place 1 trade, blow account or make a nice chunk and withdraw. 50/50 bet you can make more than your risking by a factor of 10x's
Bonus offered by brokers are good to use but you should not fall for such exuberant claims as it might for luring clients, you should check the services offered, which is more important.