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Can't withraw funds from a broker. Help!

iamgifted (iamgifted)
Mar 06 2016 at 08:28
1 posts
Please advice, because I don't know what to do with the broker I have.
I have trading account with www.stoxmarket.com
I have put there my funds in total of 3300USD and also received bonuss/credit in amount of 7500USD. I have been very successfull lately scalping DAX and my balance grew up to 14 000USD. Together with the credit my equity is around 21 000USD.
I want to withdraw the money, except the credit of 75000USD, but they don't let me. They say I have to trade certain volume to be able to withdraw the money.
There are 2100lots to trade till I meet the volume, thats pretty much and would take a long time.
Fact is, that Its really hard to do, because when I traded DAX successfully I had really low spread but now they changed it to 10 times higher. It's impossible to scalp.

Please support,
J

FXtrader2010
Mar 06 2016 at 12:15
724 posts
Well nothing you can do until you reach quota. You signed the terms and conditions.

naurismucenieks (naurismucenieks)
Mar 06 2016 at 12:20
23 posts
you have to resign from the bonus - it's locked in.
i advise you to read terms of agreement for bonus credit, before accepting it next time.

EanDInvestors
Mar 06 2016 at 12:27
1 posts
You cant do anything.. Thats the reason why you always need to deposit without any bonus. Maybe its also good for u so you get dicipline with withdrawing money image your blance after 2100 lots ;)

naurismucenieks (naurismucenieks)
Mar 06 2016 at 15:08
23 posts
EanDInvestors posted:
You cant do anything.. Thats the reason why you always need to deposit without any bonus. Maybe its also good for u so you get dicipline with withdrawing money image your blance after 2100 lots ;)


i can 'imagine' his balance, after 2100 lots :D

togr (togr)
Mar 07 2016 at 08:09
4862 posts
iamgifted posted:
Please advice, because I don't know what to do with the broker I have.
I have trading account with www.stoxmarket.com
I have put there my funds in total of 3300USD and also received bonuss/credit in amount of 7500USD. I have been very successfull lately scalping DAX and my balance grew up to 14 000USD. Together with the credit my equity is around 21 000USD.
I want to withdraw the money, except the credit of 75000USD, but they don't let me. They say I have to trade certain volume to be able to withdraw the money.
There are 2100lots to trade till I meet the volume, thats pretty much and would take a long time.
Fact is, that Its really hard to do, because when I traded DAX successfully I had really low spread but now they changed it to 10 times higher. It's impossible to scalp.

Please support,
J

Hi @iamgifted
1. Well according to conditions you cant withdraw profit now - You cannot withdraw your profits unless Volume requirements are met.
2. Your required lot should be 7500/10=750 lots - The volume calculation is the bonus granted divided by 10, or Bonus issued / 10 = Lots required for trading

Thats still a lot but it is doable with the right EA

jchan
Mar 07 2016 at 14:40
15 posts
May I ask, where and how we are guided in choosing the right brokerage or institute in opening fx trading account; that is for normal fx, or MT4, or autotrade/EA trade or scalp etc. Is this something most don't want to share?

dkilmer (dkilmer)
Mar 08 2016 at 07:52
90 posts
go with brokers that are regulated, and always read your terms and such before depositing .

I have been with OANDA, they are good

Everything in the market is like a fart, if you have to force it, it is probably shit
mlawson71
Mar 08 2016 at 11:05
1487 posts
Always read the terms and conditions of a contract before you sign it and always work only with licensed and regulated brokers.

HalleyFX
Mar 09 2016 at 11:52
83 posts
I advice you to research a Rebate bot; which opens tons and tons of trades. Use 10% margin risk and let it run on a trustful VPS. You should be definitively safe with your 21k. Recommend starting with 0,01 lotsizes - let it run for 4 months and you be able to achieve those lots (If not doing stupid things.........)
Thank me later!

and take the advice of others here as well - read the Terms & conditions of a contract.

DISCLAIMER: I have no real life experience with this 'bonus' situation. Please consult with an expert, in special IF the bonus is really part of the margin equity.

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