Forex Brokers Bonuses, can You Really Withdraw them?

[Robert]

There are many Forex brokers that tempt new traders with large bonuses but did you ever think for just one moment if you could really withdraw it? Please give post your FX broker (if they offer a trading bonus) and how much trading volume you need to make and in what time frame it needs to be done in order to claim the 'free' money? Please do not post unregulated FX brokers as even if they offer you a 600% bonus you are unlikely to be able to withdraw along with your real investment lol Please do not post links to your FX brokers to keep the admin happy

 

[Fxpipper]

Why would any brokerage shell out free money to traders? Most of the bonus packages [real ones and not the scammy ones] can be used to trade with but cannot be withdrawn..
Of course, no one bothers to review the terms and conditions as they apply to the bonus in question and then, when they want to withdraw, they start crying foul..

 

[TheLastBear]

Why would any brokerage shell out free money to traders? Most of the bonus packages [real ones and not the scammy ones] can be used to trade with but cannot be withdrawn..
Of course, no one bothers to review the terms and conditions as they apply to the bonus in question and then, when they want to withdraw, they start crying foul..

There is a number of brokers who let you withdraw bonuses after conditions are met. Basically they earned enough from your trading through spreads so they do not give you their own funds. As mentioned before, its all in the fine print.

 

[Robert]

I know it is calculated by the trading volume but what I am asking is which broker gives you the 'easiest' conditions for withdrawing the bonus?

 

[Fxpipper]

LOL, that broker will have a record number of brokers queuing up to register for an account..sorry, there are no brokers who give you the "easiest" conditions for the simple reason nearly every broker offers a bonus of some sort and there are way too many players in the market..

 

[Robert]

LOL, that broker will have a record number of brokers queuing up to register for an account..sorry, there are no brokers who give you the "easiest" conditions for the simple reason nearly every broker offers a bonus of some sort and there are way too many players in the market..

I think you are misunderstandfing me, I will give a few examples. I hope this helps all traders in this forum

 

[Robert]

Broker: RoboForex

Bonus: 25% bonus, up to $5,000 bonus.

Withdrawing the bonus


If you deposit $1,000 and receive a $250 bonus. In order for you to withdraw the bonus you will have to trade (these are their bonus terms) 83.33 lots. Each 1 lot is worth 100,000 units. Therefore, you will have to trade the bonus ($250) over 32,000 times in order to claim it.

Conclusion: I wish you the best of luck, very difficult

 

[Robert]

Broker: LiteForex

Bonus: 30% bonus (limit is unknown, please post if you know)

Withdrawing the bonus


If you deposit $1,000 and receive $300 you will have to open in 50 different positions (must be 50) that the total amount of lots no less than 30% of the bonus received (which comes up to 90 lots). Each standard lot is worth 100,000. Therefore, the bonus must be traded 30,000 in order to withdraw it. The catch is that it must be done in 50 different positions and not less.

Conclusion: Almost impossible, you will need more luck to get this bonus

 

[Robert]

Broker: ForexTrading

Bonus: 25% bonus, up to $4,000 bonus.

Withdrawing the bonus


If you deposit $1,000 and receive $250 you will need to trade the bonus amount multiplied by 20,000. 1 lot is worth 100,000. You would therefore need to reach 50 lots (20,000 x bonus) in order withdraw the bonus.

Conclusion: Not easy but thank but easier than the earlier 30,000 x bonus

 

[Robert]

Broker: FXcast

Bonus: 25% bonus, up to $25,000 (fixed bonus for a range of predetermined despoit amount).

Withdrawing the bonus

If you deposit $1,000 and receive $250 you will need to trade for every $1 of the bonus 0.1 lots (which is equivelant to 10,000) of the deposit + the bonus. That means you will need to close trades that are worth 125 lots in order to claim the bonus. Thefore, the bonus amount must be traded 50,000 times in order to withdraw it. The 125 lots must be made within 3 months of receiving the bonus or the broker will remove it from your account.

Conclusion: 125 lots? I personally do not make that in a year, let alone 3 months

 

[Robert]

Please post the bonus terms for your broker so we'll find out who is the best broker for bonuses

 

[Fxpipper]

Er. don't think you understood what I stated correctly. It was not a question of "my broker offers the better deal in terms of bonus" quandary..just that there are one too many brokers out there and it is just not possible for one single trader to investigate the lot and post it here.
I use Trader's Way, FXCM and Alpari, they do offer bonus and for details, please head over to the websites in question.
Just wanted to add that it pays to read the small print when bonus are offered.

 

[Robert]

Hi FXpipper, I will review the brokers you have mentioned. My main focus is on the bonus conditions. A FX broker that provides its clients with 'bad' terms for withdrawing the bonus does not necessarily mean they are fraud or illegitimate. I am trying in this thread to find the best broker that are regulated and yet give thier clients a fair chance in earning the trading bonus

 

[Robert]

Broker: TradersWay

Bonus: 20% bonus, up to $2,000 bonus.

Withdrawing the bonus

If you deposit $1,000 and receive $200 you can never withdraw the bonus. Addionally the bonus is not calculagted in a stopout calcuklation (it's mentioned on their web site) and the client sends a withdrawal request the bonus is cancelled immedaitely.

Conclusion: Bottom line, you can never withdraw the bonus from this broker

 

[Robert]

Broker: FXCM

FXCM (I think) is running temp. promotions offering bonus to their clients. At the moment I could not find such a promotion on their site. If you can find the bonus conditions for this broker please post it here so we can determine if they provide fair bonus terms to their clients

 

[Robert]

Broker: Alpari

Similar to FXCM they have temp. bonus promitions, none are active at the moment. However, I did see their previous conditions for the bonus. A bonus amount between 0 - $1,500 would require a trading volume of 200 standard lots where each lot is woeth 100,000. If the bonus amount if between $1,501 - $3,000 the trader will need to make a trading volume of 400 lots (each lot = 100,000) to withdraw the bonus. There is a time frame where the 200 or 400 lots must be made, approximately 30 days.

Conclusion: Big lots in small time, you will need plenty of good luck

 

[DiF0r]

Some brokers give you a "welcome bonus" of $5 and up to $100 just for registering and you don't need to make any deposits. And the profits can be withdrawn, sometimes even the bonus after XX lots traded.

So I guess the bonuses on deposits can also be withdrawn Some brokers set the conditions very high but it's free money anyway...

 

[candle7779]

Broker: ForexTrading

Bonus: 25% bonus, up to $4,000 bonus.

Withdrawing the bonus


If you deposit $1,000 and receive $250 you will need to trade the bonus amount multiplied by 20,000. 1 lot is worth 100,000. You would therefore need to reach 50 lots (20,000 x bonus) in order withdraw the bonus.

Conclusion: Not easy but thank but easier than the earlier 30,000 x bonus

Do you mean cash bonus or deposit? There are different conditions and I' m a bit confused as to your conditions.

 

[TheLastBear]

A lot of brokers offer calculators so traders know what level they have to reach.

 

[AWFX]

Hi everyone,

Interesting question. However, I am not sure if bonuses can be taken to your individual account anyware. In most cases, the aim of bonus is to give more money for trading.