« Canceling your credit cards can hurt you | Main | Balance transfer challenge: $433 in 18 minutes »
December 21, 2006
Cash bonuses and free iPods from FOREX.com?
This offer at first looks like an easy way to check out currency trading while earning some cash and an iPod Shuffle for your time and effort. When you open a FOREX.com account, you get an iPod plus various amounts of cash, based on your deposit:
The details say you'll get the cash within 30 days of your deposit. This offer looked so good I was thinking of applying for it. Then I saw this minor detail:
Bonus will be added as equity to your trading account within 30 days of initial account funding. Withdrawal of bonus funds is contingent upon the completion of round trip standard lots (or the mini equivalent) according to the following schedule: $50 equals 5 trades, $100 equals 10 trades, $175 equals 20 trades, $250 equals 30 trades, $500 equals 50 trades and $1000 equals 75 trades.
So that means you have to put some money at risk and trade currencies to earn the bonus money. With currency trading, you can lose a lot of money, often within a few seconds. I'm going to pass. If you're up for it, though, apply quickly - the offer expires Dec 31, 2006.
Posted by brian at December 21, 2006 06:53 PM