Broker Offering 100% Bonus

pindol

Junior member
26 1
Over the weekend I was informed by a colleague that a broker was offering a 100% deposit bonus on FX/CFD. I could not believe this at first as that sort of thing is left to the dross that is the binary market. If this is the case then it is one heck of an offer that I certainly have never seen before so there must be some very onerous clauses. I have already taken a look to see if it is a bona fide offer as its a bit too good to be true. My situation is that I currently have all my trading funds stuck in Alpari!!. I will do some more digging tomorrow for everyone to see what i can find or if we immediately resign it to the rubbish bin. They are in the UK same as me so should be easy to get the dirt on them but my collegue said he knew the CEO and was adamant that it is a genuine offer even though I have never heard of the company before. Clouseau is on the case and will report back
 

pindol

Junior member
26 1
Hi I am getting there finding out about this so please allow me a few more hours but its getting interesting..in a good way for a change actually
 

options-george

Well-known member
483 92
Not to dampen your mood re the 100% bonus but.....

I have come across a few broker bonuses over the years, but most of them require you to complete such a huge amount of trades in order to meet the conditions, that it renders the bonus worthless. (and they basically strongly encourage you to overtrade!!)

The only decent one I came across was with ETX a couple of years ago where they would refund losses of up to £300, provided you opened and closed 5 trades - that one was worth doing.

As a matter of comparison, the conditions for welcome and deposit bonuses with internet casinos have far less stringent requirements (and intrinsically lower spreads) than brokerage companies!! :)
 

JossisGiants

Newbie
4 0
I think that some brokers offer some legit bonuses, as long as you can withdraw your deposit and profits at anytime, then it can be useful.

If the broker doesnt allow you to take your profit, then what's the point??

Read carefully the terms, if not clear get some written clarifications from the broker and only go for it if you are comfortable with the rules.
 

pindol

Junior member
26 1
Hi I have finally been able to final get a lot of information and pleasantly surprised but took a lot of digging with many people to get more info. Unfortunately not a lot of time left to do anything about the bonus. The company is one I hadn't heard of before but now I know why. They are called VolanteFX and have only been going for around 6 months. They are in the UK but seems like they are the agent/face in the UK for a much bigger global player. GCM are behind them so a big broker. My source told me that GCM decided to close regional offices so looked for reputable companies they had been working with and chose the best in different world areas to represent them. I did speak with a number of friends in the city and the CEO of VolanteFX has a very good reputation in the city with many brokers/financial institutions. That is the background I can find on them at the moment. I will try to find more. I will detail the bonus in the next post as it is pretty damn good.
 

pindol

Junior member
26 1
Ok the bonus is as follows:-
1. You get exactly 100% of what you first put in or if you are already a customer then the next deposit will qualify. So say you put in 5k you get 5k added
2. You can keep and use this bonus amount for the next 90 days and do what you like with it!!!
3. Whatever profits you make on the bonus you can take out whenever you want.
4. there is a maximum bonus of $50k so really big
5. You need to do 10% of the bonus in lots during the 90 days so for $10k you must do 1000 lots which is a load of trades. But there is a big caviat. The lots are done in stages which is on their website but if you put in less than the next level you only have to achieve the previous step lot amount. This can make a huge difference. So as an example if you put just $5 less than 10k you then only need to achieve the next level down lot amount which is 5k so 500 lots . Therefore for $9.99k put in instead of $10k you have to make half the amount of lots so can be very craftily done to make it easier to achieve.
6. This is the big suprise and could be worth doing just for this is that you can do what you like with the bonus. If you blow it up they dont want it back!!. The bank you put in is safe. This is unheard of and i can think of doing something that will give you plenty of chances to double this money and probably achieve the lot amount without risking my deposit.
7. If you achieve the lot amount you also keep the bonus at the end of 90 days.
You must leave your initial deposit in for the 90 days but can then withdraw

Anyway I said I would find out. The problem is that it seems like this offer has been on for 3 weeks already and will close in 1 week time, I cant believe no one has found it before. That's me done everyone.
 

Lightning McQueen

Moderator
4,917 780
do they have regulation? it is unclear from their website.

there is no regulation info at the bottom of their webpages. even the banana republic regulated outfits put that info at the bottom of pages with their registration number. though it does say this "VolanteFX customer funds are held by GCM, which is authorised and regulated by the FSC, (BVI) under the Securities and Investments Business Act, 2010 License no SIBA/L/11/0964" that's the only quote of a licence number I could find.

further to this. are these the same people that were involved with the signal service called trading elite club?
 

pindol

Junior member
26 1
High Lightening I think you haven't checked it out correctly or read my comments to understand correctly so hope this next bit will explain more simply for you and others as its a complicated subject. As regards how they are structured and regulated they make it very clear on the bottom of their website even quoting the license number which checks out on the fsa register. As i said very clearly VolanteFX is the portal for GCM in the UK. If you look at the GCM website and VolanteFX then the structure is the same just that VolanteFX have put their branding on it. In the marketing business this is called a White Label. Therefore you may go through VolanteFX as the face but all running, trades regulations etc are GCM so therefore VolanteFX is really GCM which is a bona fide broker with all regulations , segregated accounts etc so is a safe as any broker out there. This isnt rocket science it is something than loads of companies do to reduce costs of operation. McDonalds whole empire works this way and so do many other international companies. The only difference I can see is that GCM are not doing this bonus but VolanteFx are. Probably as the major player who collapsed in the market is Alpari based in the UK I expect they are hopefully looking to get customers from them with this great offer. I am trying to find out how long this bonus is on as I am certainly going to go for it as its just free money to trade for 90 days and In can make a load on it before its taken back and I keep that. This is a no brainer. I will let you know when they reply on this bonus deadline. Hope this clarifies things a bit.
 

Lightning McQueen

Moderator
4,917 780
High Lightening I think you haven't checked it out correctly or read my comments to understand correctly so hope this next bit will explain more simply for you and others as its a complicated subject. As regards how they are structured and regulated they make it very clear on the bottom of their website even quoting the license number which checks out on the fsa register. As i said very clearly VolanteFX is the portal for GCM in the UK. If you look at the GCM website and VolanteFX then the structure is the same just that VolanteFX have put their branding on it. In the marketing business this is called a White Label. Therefore you may go through VolanteFX as the face but all running, trades regulations etc are GCM so therefore VolanteFX is really GCM which is a bona fide broker with all regulations , segregated accounts etc so is a safe as any broker out there. This isnt rocket science it is something than loads of companies do to reduce costs of operation. McDonalds whole empire works this way and so do many other international companies. The only difference I can see is that GCM are not doing this bonus but VolanteFx are. Probably as the major player who collapsed in the market is Alpari based in the UK I expect they are hopefully looking to get customers from them with this great offer. I am trying to find out how long this bonus is on as I am certainly going to go for it as its just free money to trade for 90 days and In can make a load on it before its taken back and I keep that. This is a no brainer. I will let you know when they reply on this bonus deadline. Hope this clarifies things a bit.

sorry no it doesn't clarify, maybe I have not looked at the same page as you.

if they are regulated through the fca uk why then does the quote that I have posted from the VolanteFX site reference the fsc of the british virgin islands? surely this is a mistake on their part if they could indeed claim fca uk regulation. I would suggest they would be shouting that from the rooftops one would have thought, but they do not. so it is very clear that although volantefx may be based in the uk, or at least the people running it are, their regulaters are not. therefore if not fca autherised then your funds are at risk as you are not covered by any compensation scheme in the uk.

but regardless of their regs, I would further suggest that before anyone even looks at this outfit they direct their due diligence towards the defunct trading elite club signal service first.
 
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pindol

Junior member
26 1
I am at a loss to explain more simpler than child's language. Who the heck said about british fca I certainly didnt (I said fsa but actually its fsc as its bvi)its a white label GCM so its GCM what are you on about british fca you are dealing with GCM so its a GCM site and regulated as GCM therefore they have their regulations in the british virgin islands and its not easy to miss its on the FRONT PAGE. VolanteFX is just GCM white label so I dont give a toss who faces clients in the UK its GCM so make any comment about GCM. My god how stupid can you get. They are a big broker so its a way of getting free money through the UK portal. I dont know why I wasted my time telling anyone. its free money any profits you keep its a no brainer, Use a martingale system and you could make a fortune quickly, lose it and you dont give it back its a free bet. If its of any interest then please take a look I will now leave it at that as I was trying to highlight something which people my be able to take advantage of but obviously some people cant see further than their nose and dont have any capacity to understand something simple. so i will not do any more checking on this and close the thread. Let me just emphasis again to make it clear IT IS GCM IT IS GCM IT IS GCM WHITE LABEL SO EVERYTHING IS GCM SO YOUR REALLY OPENING AN ACCOUNT WITH GCM and 10s of thousands of people have accounts with GCM you are going through a GCM portal. Does that explain it enough
 
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pindol

Junior member
26 1
Anyway after my little rant let me just say that if anyone is interested then take a look if we leave it to the trolls then dont as everything is bad, everything is wrong, everything doesnt work. I will never open a thread again to try and help people when I find something good only try and give info on already existing threads which i am doing re the alpari items as I have been able to give good info to people who want to learn or know items on that thread. What a pity we have such idiots around these forums.
 

Lightning McQueen

Moderator
4,917 780
well you were the one going on about them being in the uk. whether volantefx or gcm clearly if they go bust like alpari you'll not have recourse to any compensation in the uk, is that clear enough to anyone reading this thread? I do hope so.

are you pappa c ?

I thought you'd searched thoroughly about these clowns? how deep did you dig? as you don't appear willing to go anywhere near discussing trading elite club, one must conclude you are indeed pappa c.
 

options-george

Well-known member
483 92
Anyway after my little rant let me just say that if anyone is interested then take a look if we leave it to the trolls then dont as everything is bad, everything is wrong, everything doesnt work. I will never open a thread again to try and help people when I find something good only try and give info on already existing threads which i am doing re the alpari items as I have been able to give good info to people who want to learn or know items on that thread. What a pity we have such idiots around these forums.

Hi Pindol,
I think it's great that you took the time to share the bonus that you found! Whenever something like this is found, and people put their heads together a suggestion or idea either dies or is validated. And sometimes it's uncertain, and people can do as they please with it.

I hope you are not overly discouraged from sharing things like this in the future.

One point I wanted to raise as to the bonus.
Say you get a $10,000 bonus and need to trade 1,000 lots in order to meet the requirements of the bonus. Let's say the broker gives you a 1 pip spread on your trades (which might be optimistic) - this means that on every lot that you trade you have a $10 spread cost. $10 spread cost per lot multiplied by 1,000 lots = $10,000. So the amount of spread you have to incur equates to the amount of the bonus - meaning that on paper the bonus is worth zero to you.

I guess if the bonus requirements are in fact applied in increments e.g. you need to trade 500 lots for bonuses up to $9,999 - then yes you could create positive expectancy assuming you are able to get 1 pip spreads.

What do you think about this line of reasoning? I mean this in a completely constructive manner.

If you decide to go ahead with trading this bonus and want some advice on how to play it, then feel free to PM me. There is actually a mathematically optimal approach for how to trade such bonuses, and it's rather counter-intuitive.
 

pindol

Junior member
26 1
Hello options george thanks for your comments and bringing back sanity to something that one person made stupid. I have been told not to comment on this poster any more. One of my characteristics is I don’t suffer fools gladly and I was wrong to fly off like that and I apologise and will not do it again as I have had some great advice which I will share so at least something positive comes out of this thread.

I have had a reply from the company re the bonus timescale and unfortunately it ends this weekend so I found out about this way too late. They state that it has been running for 4 weeks and they now will close it. So my thread which I only started a few days ago is somewhat pointless as the bonus is ending already.

Ah well I wasn’t to know that. I realise that we have moderators on the site who do a great job policing the forum and I had a great piece of advice which I will share with you. “Please be aware that on this forum we have all sorts of individuals and unfortunately ones who do the forum great harm with their comments. Do not fuel these people but leave them well alone. It can be difficult sometimes not to rise to the bait but your experience on the forum will only be improved by doing this. Having read this very short thread in your case then the fact that this offer you found is over as you were starting this thread then makes their comments seen as what they are. If this had been started four weeks ago then there could have been some ember of credibility to the comments given but as you started it as it was closing which you were unaware of then other forum users will see through their trolling comments very easily. You find these people have to post again so please just ignore it as they always feel they have to have the last comment and it just shows others what they are”

It is also worth showing everyone the additional information I have had on this subject from T2W to help members calm situations they may find themselves in and I have also taken the comments on board.

"Forums are notorious for human beings behaving badly toward each other. We don’t want this on T2W. If you don’t like someone, think their question is stupid, have had a bad day and whatever else you think excuses bad behaviour then deal with it some other way. If it appears on the forums and crosses a line then you can expect it to be dealt with by us.
Every community has a small but very vocal number of people who add nothing of value. They deliberately cause trouble and offence and clearly have little else to do with their time. Your job is not to rise to the bait. Ignore them and report them. They will soon get fed up and go somewhere else."

I will answer your comments properly options george on the final post but then as I have been advised to end this thread as the offer is over tomorrow. I have also been given the route for reporting this type of offender.
 
 
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