Hi.

Sorry. You're not going to appreciate this I know. But do you think brokers are charity organisations??? Just in case you're not sure: NO THEY ARE NOT!!!

MOST 'bucketshops' will offer you a bonus to ENCOURAGE YOU TO OVERTRADE!!! THIS bonus is NOTHING LIKE THAT!!! The terms and conditions are REAL clear i.e. 'go wild' on your demo account and if you win you get REAL money to trade with at NO cost to you!!! THEN: if you can DISCIPLINE YOURSELF and trade like a TRADER you can make money FROM money that you never had IN THE FIRST PLACE!!! What's more: you've got THREE MONTHS TO DO IT!!! I'd HARDLY call THAT 'encouragement to overtrade' your account. So??? At the end of three months you may end up with, say, only $150 or $200 or whatever. But it's cost you NOTHING and NO RISK AT ALL TO YOU in making that money??? What's the problem???

If you want a BETTER and more DETAILED explanation then see this link (of mine):

http://www.forexpeacearmy.com/forex-forum/company-comparisons-competitions/18970-bonus-programs-brokers-perspective.html

Dale, it's a prize, not a bonus.

I traded an introductory risk-free bouns with an ETX Capital spread betting account a while back and it did echo some of your FPA post concerns. It wasn't too bad though. They gave £500 risk-free for the first 10 days and it was required to take on 5 trades, I think, in that 10-day period. It didn't encourage over-trading to the extend you suggested others might. I'm sure they are out there and you're right, we need to be mindful of what we're getting into.

The ETX offer didn't cause me to over-trade, but it was a nice safety net.

Had I won a £500 competition prize, I would have expected to own that £500 and not given it back after the 10 days.

There is a difference between an introductory bonus and a prize. It may be semantics, but a prize is ownership.

Regards,

Lee.

but the thing that i dont know, how this winners or lasts contests make a high profit of 3000% and more without taking a margin call :D. they enter with big big lots and dont keep any attention to MM. any review !!!

Hello.

Let me start by my apologising to you Lee. Sorry for 'shouting' as you put it!!! LOL!!! Honestly??? Somebody else had just 'pis*ed on my battery' just before your message showed up in my InBox via Google Alerts and, well, unfairly and unprofessionally, I took it out on you!!! Sorry for that.

And yeh: I guess you DO have a point i.e. about it being a 'prize' not a 'bonus'. I never quite thought about it that way. That being said though: it's still a 'no nonsense' 'deal' (let's call it that then). I mean there are no 'hidden catches' as it were. As you may have noticed on my FPA thread: I'm trying my best to try to 'sanitise' this business and I cannot STAND IT when some of these unscrupulous brokers offer all manner of weird and wonderful 'lures' their ONLY intention being to get their hands on your money by 'dangling a carrot' that MAY result in a trader, especially a new trader, not 'seeing the wood for the trees' as it were and concentrate MORE on getting the BONUS than trading like a trader is supposed to trade (over trade their accounts). I've seen it happen. Too many times. So all I'm saying is that in THIS case that at least THIS 'deal' doesn't have an ulterior motive if that makes sense. Well: other than advertising of course but there's nothing wrong with that.

Just ONE piece of advice: there is NO doubt in my mind that in order to win the 'deal' you're going to be contending with people that are going to have the attitude of 'well: all or nothing'. In other words: you're going to find that just about EVERYBODY is going to go 'balls to the wall' on the demo. The TRICK IS: IF YOU WIN then DO NOT carry THAT 'strategy' over to the 'deal' account!!! That's for sure. And I think that answers your question too mohamed. That's EXACTLY what people do. Deltastock also runs demo contests and some of the gains made in a month are ASTRONOMICAL as a percentage of whatever starting capital was used to open the demo account. Put another way: if those same people were able to make those types of gains consistently then a) there wouldn't be an Investment Bank in the WORLD that would NOT be offering them a job at ANY salary they asked for and b) they probably wouldn't be trading in a demo contest ANYWAY if they were THAT good!!! LOL!!!

But I CAN assure you of ONE thing at least: DF Markets is ONE broker (of only a mere HANDFUL of brokers in the world) that you don't have to worry about insofar as integrity etc. is concerned. I'm not going to go into detail here as this is not MY 'parade'. But just trust me on this.

Anyway: GOOD LUCK to everyone anyway. Put it this way: GOOD LUCK on WINNING. But IF you win: then don't rely on LUCK to trade the 'deal' account!!! LOL!!!

Regards,

Dale Paterson.

If I entered the competition... and I won... I'd blow the prize account in 24hrs flat, just to show how much I think the prize withdrawal concept sucks.

Winning a Forex contest is a steep job. Winners deserve a prize they can keep, and sponsors should honour the industry a little more (even if it's only to offset the superb-quality advertising, and qualified leads that the competitions bring them anyway...).

...just sayin'.