leech system

Nov 23, 2011 at 03:48
4 Replies
Member Since Nov 03, 2011   119 posts
Nov 23, 2011 at 03:48
So this isn’t a real system about making money from trading, but from using all the free stuff, cash bonuses and the likes to make money. Here is now it works.

I signed up an account with refundfx.com.au and cashbackforex.com – I chose these 2 as refundfx is ASIC licenced in Australia <where I live> and cashback has been around for ages.

By signing up at these places you earn about 0.5 to 0.8 pip cash back on the trades that you place with different brokers. So say you have an FXCM account, you now get cash back each month for the trades you place. So heres the trick. From time to time brokers have different promotions. These promotions combined with the rebates out way any trading losses that may occur and on the good months when I make money it’s a double win fall.

For example……

Recently FXCM did a 10% deposit bonus and refund fx was paying 0.8 pip rebate. I opened an account with FXCM, put in $50k. To get my 5K bonus I had to do 500 standard lots. I opened up a chart and using EAs like MDP and a couple of account churners that I have, I did 500 standard lots in about a week. I lost on the account, about $1000. So my account went like this:
$5k deposit bonus + rebate of $4k (500 lots at 0.8 rebate ), loss 1K so total profit was $8k.
Then I just wait for the next broker promotion to come along. You need to be careful that the promo is CASH, not CREDIT. Credit is junk.

Yeah it takes a bit of work depositing here withdrawing and blah blah, but its a lot easier than backtesting system, testing them in demo, then you go live, they don’t work anyway etc.
I’ll post here any pomos that come up that I thing are worth getting on.

The first steps are getting your refundfx accounts setup and your broker accounts setup…..
DEMO doesn't count - go live or go home - ?a_aid=112256
Member Since Nov 03, 2011   119 posts
Dec 01, 2011 at 09:01
This Month there is an offer for a FREE EA of your choice if you trade through Synergy FX or a free iPad if you open up with AvaFX....
DEMO doesn't count - go live or go home - ?a_aid=112256
Member Since Jul 15, 2011   131 posts
Dec 02, 2011 at 10:29
Stay away from Synergy FX, they are new in the business and clueless.
Member Since Nov 03, 2011   119 posts
Feb 29, 2012 at 05:41
I have a live account with them. I have not had any problems with them.... I see that you have complained about them on a few different threads.... maybe you should complain directly to them ;)

DEMO doesn't count - go live or go home - ?a_aid=112256
Member Since Nov 03, 2011   119 posts
Mar 01, 2012 at 09:01
Received an email just now about a Synergy FX promo. 30% - seems pretty massive. The required lots isnt too bad as its 1 lot per $10 bonus basically so its like you get 1 pip back.... what makes it interesting is that you get the bonus and the rebate from Refund FX. So you get basically 1 pip back from Synergy FX and 0.35 pip back from Refund FX. So 1.35 pip back.... Their spread at the moment is 1.5.. hmmmm I wonder if it ever goes under 1.35 and I can arb on the rebate...
DEMO doesn't count - go live or go home - ?a_aid=112256
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