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  1. #1
    Junior Member

    Broker's deposit bonus. Is it a trap? !!!

    I like to know if brokers deposit bonus is safe to accept or a trap. Just opened an account with Topoption, deposited 100USD , blew it out and now being talked into depositing excess of 500USD to get excess of 25% bonus. I have a lot about bonus issues. I talked to my trading specialist about this and he said he will give me pending bonus that will not restrict me from withdrawal of profit at anytime. Has anyone experience with this broker in this regard?

  2. #2
    Legendry Member Michael Hodges's Avatar
    check the terms, don't accept it too fast, there are usually restrictions that will keep you from withdrawing your profits if you don't meet certain minimums. Be sure you understand what you are getting into before you take it.

  3. #3
    Veteran Member Dan21's Avatar
    Taking bonus is not that safe, because its purpose is to make you trade more and most probably lose your money at the end. If you try to make this 20-30x turnover and if you are not experienced you will lose not only from the bonus but from your deposit too. If you want to continue trading besides your first loss, however you can take that bonus but have to be very very careful and not to take huge risks at all.

  4. #4
    Junior Member
    Thanks for your response below are the terms of their bonus. Can a lawyer in the house help me to break it down into specifics.
    Cash Bonus Terms and Conditions
    Safecap offers a number of attractive reward features to new and existing clients, including cash bonuses and one time trading credits. These bonuses are limited time offers and the terms and conditions associated with any bonus reward are subject to change. You will be given the opportunity to accept or decline any bonus reward you are offered.

    1. Your cash bonus is added to your account balance and you may use it to place trades on the platform

    2. Withdrawal Restrictions:

    2.1 The bonus amount cannot be withdrawn until the minimum trading volume requirement, equivalent to 40 times the value of your bonus amount, has been met. For example, if you received a bonus of $500 you must generate total volume of $20,000 before being eligible to withdraw your bonus

    2.2 In addition, if you accept a bonus, you will not be able to withdraw any profits that were generated after the date you received the bonus, until you have met a minimum trading volume equivalent to 5 times the bonus value. For example, if you received a bonus of $500 you must achieve a total valid volume of $2,500 before being eligible to withdraw any profits made on the account

    2.3 Trades placed which are greater than 50% of your then current account balance will not count towards the required (5 times) minimum trading turnover. For example, if you received a bonus, your account balance is $900 and you placed a $500 trade, the $500 will not count as valid volume

    3. Any improper or abusive trading, not in accordance with TopOption.com Terms and Conditions, will result in the bonus being revoked and may also result in your account being frozen.


    HIGH RISK INVESTMENT WARNING: Trading binary options is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital. Therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please click here to read full risk warning. TopOption is a trading name of Safecap Investments Ltd, a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. 092/08. Safecap Investments Ltd is located at Treppides Tower, 6th Floor Kafkasou 9, Aglantzia P.O.Box 26522 CY2112, Nicosia, Cyprus.

  5. #5
    Master Member SeasaltMcFish's Avatar
    If you take a bonus here, you'll have to trade for at least 5 times your bonus amount before you can make any profit withdrawal. I guess you can withdraw your own money, but no profit until the conditions are met. You may not trade for half your account (or more) at once and you need to trade 40 times the bonus amount before you can withdraw it.

    Probably you will lose the rest of the bonus if you withdraw before you met the 40 times condition, but I'm not sure about that.

  6. #6
    Specialist Member pinoyoptions's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    If you take a bonus here, you'll have to trade for at least 5 times your bonus amount before you can make any profit withdrawal. I guess you can withdraw your own money, but no profit until the conditions are met. You may not trade for half your account (or more) at once and you need to trade 40 times the bonus amount before you can withdraw it.

    Probably you will lose the rest of the bonus if you withdraw before you met the 40 times condition, but I'm not sure about that.
    Man your right as always this Bonus thing will surely intended to lose your money. For simple reason behind this bonus% is for you to trade more often and in the end you will lose everything including your initial capital. But set aside what I said, If a trader has a good tested strategy to give 60% above winning percentage, then It's ok to accept this bonus% from your broker. My personal opinion, I will never accept bonus% because there is no Bonus at all just an account ILLUSION.

    @Sholadek... Toption is a very good Broker. I personally tested it. But for some reason If you are trading under short expiry 30min below . You have to win 60% above and early sell option is not available in short expiry.

    Try check my remarks about TopOption under brokers discussion. CLICK HERE
    Last edited by pinoyoptions; 01-25-2014 at 02:17 AM.

  7. #7
    Veteran Member hchandra's Avatar
    Bonus is good for extra, its brokers way to entice customer, I say its sweetener.
    If you are expert you can trade without risking any deposit by trading the bonus, after profit, withdraw your deposit and using bonus you deposit again to other brokers which offer deposit bonus. When you reach this level then no money at risk, its hard to reach.

    From my personal perspective, generating profit 5 times than the bonus received surely hard, 40x bonus for volume requirement also unreasonable.
    I don't know top option, but there are case from other brokers where they deny withdrawal after customers already reach all requirement and tell the internet, "This customer break our rules" we return all the deposit made and erase all of the profit.

    The point is make sure to follow the terms and watch if there are people who successfully withdraw the bonus or profits made.

  8. #8
    Specialist Member marc's Avatar
    Personally I will never accept a bonus (again) ... the disadvantages are simply to big for me ... the fact, that you can't retrieve your money at anytime just means, that you are 'locked in' with your broker ... so you you can be stuck with a bad broker/or a platform that doesn't fit your trading style until you clear the bonus or you lose your account ...

    You have to be a real pro to clear a bonus ... and if you are such a skilled trader, then just do your math and you will see that you can earn the same amount in relatively short time the 'normal way' without a bonus ... for me a bonus is simply not worth all the hassle ...

    I have seen other promotions in the past, which are more useful in my opinion ... like a "1-month money guarantee" (where you can trade safely and the broker will give back your possible losses) and such ... but the days of such creativity in marketing BO business seem to be gone ... anyway, for me a bonus is rather a threat, than a goodie

  9. #9
    Junior Member
    Thanks again for all your contributions. I share all your views just wanted to be sure im right.
    @pinoyoptions; do you make any withdrawal at topoption. if yes, what was the experience like as that is my major fear.?
    Again , I like to know precisely the meaning of this statement in the bonus terms above;
    3. Any improper or abusive trading, not in accordance with TopOption.com Terms and Conditions, will result in the bonus being revoked and may also result in your account being frozen.

  10. #10
    Administrator Martin Kay's Avatar
    Quote Originally Posted by sholadek View Post
    Again , I like to know precisely the meaning of this statement in the bonus terms above;
    3. Any improper or abusive trading, not in accordance with TopOption.com Terms and Conditions, will result in the bonus being revoked and may also result in your account being frozen.
    i think we're going too deep into details here. Bonus - you take it or leave it. I think the only think you should think of in this case is - will I be able to trade in a volume of 30-40 times your bonus? Will the bonus make you successful? Could I be fine we just a 10-15% bonus? Maybe it's even better?

    TopOption is a good broker, I've seem some complaints about them but never about withdrawal. Don't make one if you won't succeed trading 40 times your 100% bonus and can't make a complete withdrawal. McDonald's is great, eating too much might just kill you... morgan spurlock said so not me...

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