Most brokers will offer some form of cashback bonus when you first sign-up and make a deposit. With so many bonus offers available, it can be hard to find one that matches your trading style and requirements.
Cashback Bonus Terms & Conditions
- Cashback bonuses and sign up incentives are the trading industry’s favored method for attracting new traders.
- Many new traders will choose a broker based purely upon the bonus offered. While the “no-deposit” or “100-200% cashback” bonus appear to be a great reason to select a broker, you have to wonder why would the broker be offering this?
- It is essential you pay attention to the “Terms and Conditions” attached to any cashback bonus offer.
- There is no shortage of horror stories from new traders who have realised what is in the fine print after it is too late.
- A very common trick used by mostly unregulated brokers is to tie the redemption of the cashback bonus to trade volume or turnover requirements.
- Forcing the client to trade. We have seen instances where the trader must trade the bonus amount + their deposit 50x (yes, 50 times) to be able to withdraw from their account.
- Until this requirement is met, even their original trading capital is locked up