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DF Markets take the prize off you!
in
Galvenais
Mar 16, 2012 at 13:02
Dale, accepted, thank you. Extensive use of uppercase text in the world of online chat and BBS/forums is shouting and offensive.The question about whether or not DFM take the prize off you even if you lose the prize is an interesting one. I wouldn't have thought that they would do that, but the rules do state that the prize will be withdrawn. A grey area that one. It might be worth checking with DFM.I think one way to stop the 'All or nothing' approach in contests might be to announce the winner as the one that made the most PIPs, not growth in equity.Someone can place 10 lots and ...
DF Markets take the prize off you!
in
Galvenais
Mar 13, 2012 at 14:50
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...
DF Markets take the prize off you!
in
Galvenais
Mar 13, 2012 at 14:45
Hi Dale,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 own...
DF Markets take the prize off you!
in
Galvenais
Mar 13, 2012 at 13:15
Hello Forum,What sort of a contest/company gives you a prize and then takes it off you after 3 months?From the DF markets contest rules:b) The funds will remain in the account for a duration of three (3) months and can be used for trading. Once the three month period ends, DF Markets will withdraw the funds from the client’s account (Winners can withdraw all profits made within those three months, but not the prize itself).--------------------------------------------------After three months you haven't won anything, unless you loose the prize money. It's a dangled carrot.
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