They're withing their rights then, even if he doesn't like it. He puts £200 on the account, loses £200 then has to wait 3 months for his bonus. Where's the confusion?
VDM Markets ?
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They're withing their rights then, even if he doesn't like it. He puts £200 on the account, loses £200 then has to wait 3 months for his bonus. Where's the confusion?
KillPhil08
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I have a feeling I might have read the T&C wrongly, and assumed I had to wait 3 months. Correct me if i'm wrong.
A contract can be interpret differently by two parties. My viewpoint is, that one must rely on common sense in cases like this. At least to me, it is in favor of the SB company in this particular case.
gamma
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You are quite right there KillPhil08,
I have just spoken to their customer service
You have to wait 3 months, no one in their right minds would let you, open an account, give you a bonus and let you remove it, within a month with no conditions attached.
If it would be so easy I would simply open accounts for all 25 members of my extended family put 3 very low value trades and make myself 5 grand.
I have just spoken to their customer service
You have to wait 3 months, no one in their right minds would let you, open an account, give you a bonus and let you remove it, within a month with no conditions attached.
If it would be so easy I would simply open accounts for all 25 members of my extended family put 3 very low value trades and make myself 5 grand.
KillPhil08
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Then again you could just do that and go short and long on different accounts. Withdraw the £200 anyways (if they let you).
cheers gamma, my monayz will be out by my bday woot - def spending on drink.
cheers gamma, my monayz will be out by my bday woot - def spending on drink.
It depends on when you opened an account. He opened it in Feb when the T&C stated that
3. The Match Bonus cannot be withdrawn from the account as cash, unless you have placed more than 10 opening trades within 3 months from the day the Match Bonus is credited into your account.
The three month rule has only been introduced in March.
He simply wanted his original deposit back which they claim is the bonus money now since he made loses. I have told him that he should argue the money lost is the bonus money, lol.
Anyhow, what makes VDM definitely doggy is the fact they had to offer him two or three different excuses as to why he may not get his money back.
I will be meeting up with him tonight for drinks and will give you the full low down 2moro. For all we know, the compliance dept could have sorted it out.
I believe, the offer is one per household ( fine print again, lol ). However, it is possible if they live in different households. That is what they are clearly offering.
Give him a strong one.
I don't know if VDM is such a small player. The SB company is fairly new, but as I understand it, one of the companies behind VDM is quite a strong player in the financial field. The same goes for me regarding the last part of your post.
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gamma
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So in other words this bad trader wants to be compensated for his losses
They are going some way to help you recoup some of your losses by letting you trade with their money.
gamma
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Apologies, it was a off the cuff remark I didn't really know if they were large or small.
I suppose my assumption was based on the point ,that every time I phone them, I get the same nice girl answering and very polite people they are, Actually if one is :smart::smart: enough, one can get 4 to 600 pounds of free trading money.Very useful for new traders.
Maybe because, it is Swedish people who are handling the operation in Sweden.
Phil Mibbutz
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From VDM? I'm obviously not :smart::smart: enough, then.
tar
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Phil Mibbutz
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Just noticed that VDM's spreads on indices vary constantly, just like the real market.
Yes they have a variable spread. Meaning less problem getting filled. If they can provide slightly better spread on some of the indices, they could compete with the bigger guys. I have been trading with them for about 1 year now, never had any problem whatsoever. On the Dow they have about 3-4 spread. If the can lower this to 2-3, I would be interested trading the Dow with them.
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Phil Mibbutz
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Bit worrying that the Dow spread seems to go up to 5-6pt, even during cash market hours.
Are you looking at Wall Street Daily Cash? On my screen it is for the most part 3-4 point spread. Of course, just before a news release it might be more.
Phil Mibbutz
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It's quite hard to follow, but I think the Wall St spread briefly flips up to over 4pt, even without news. FTSE and DAX vary from 1.5pt upwards, it seems, so you can do better elsewhere. Share spreads are very tight.
On the positive side, the platform and charts work quickly, and there doesn't seem to be any restriction on how near stops can be placed.
eltrot1979
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Anyone else having problems logging in to VDM spreads tonight? I can't even get onto the home page - keeping getting a page load error?
