Thank you for shouting at me. I really appreciate that. I really do appreciate the FPA link though. I'll look at is soon.
You're right, they are not charities, but they are offering money! Hey, isn't that what a competition is? Anyone that opens a competition is giving something away for free or for an entry fee. Yes, giving something away! That means something to keep.
The problem is that you don't win $3,000. The company are retaining ownership of it. That is not a prize, it's a risk-free loan. A prize is something that's won by a contestant and the complete ownership of the prize moves from the competition organiser to the prize winner. It could be a holiday, car, money or other item.
The Olympic committee doesn't take the medals back after 3 months. If you win a car in a magazine competition, they don't take the car off you and say it was a test drive after 3 months. Prizes are not temporary, they are permanent, yours to keep or until used up. If you win $3,000 it is yours, not the company's to temporarily lend to you.
Okay, you get a risk-free account for 3 months, but if you do trade well, you don't actually win the money that's put in it. That's my point.
All the best,