The application seems to suggest the backend is also run by Gain Financial, same as with Zecco Forex. The promotion code used is CashAd The offer appears open to all, as there is a banner linking directly the bonus page from the Forex. Use the demo program before trading with real money, so that you properly understand the effect of lot sizes and leverage. FX trading can be very tricky. After first trade is initiated, cash bonus will be deposited to your account within business days.
Initial deposit can be withdrawn at any point. To withdraw cash bonus, initial deposit must not be withdrawn for a minimum of 90 days from the first trade.
This offer is available to self-directed trading accounts only. Managed accounts and accounts referred by an Introducing Broker are not eligible. Limit one cash bonus per customer. This offer is non-transferable. The reason I ask, is because these companies are giving these offers to reward customers and to try and gain business to operate profitable. Just curious towards your thoughts, and how you justify this. Well, I guess the same argument could be made about any coupon… It is the price a company pays to get you to TRY their service.
Companies realize this and every company puts in clauses to insure that you spend enough time with their product to give them a fair shake. They of course realize that some of the bonuses will be given away without every person becoming a long term customer, but how many advertising dollars are wasted in magazines and on T.
Or worse, TIVO through them! Can we fund this promotion with credit cards like the Zecco promotion? If so, does it show as a purchase on the credit card? There is got to be at least a percentage of the bank bonus customers who end up using their accounts, and thus the financial institution ends up making money in the long term. I did however move some of my savings over at E-Trade, and I am still a customer there. I understand the reason companies do it, to get people to test their product.
I think it is perfectly ethical and above-board. The company in question sets the rules, sometims paragraphs and paragraphs full of rules. The customer in this case, Johnathon, is merely following and fulfilling the rules as stated by the company. He is not breaking the rules nor somehow trying to defraud the company. Certainly if the company has a problem with the way they have written their rules, they will waste no time in amending or rewriting them!
I see no ethical problem, either. Look at the case of rebates offered by companies. The rules for submitting a rebate correctly are quite detailed and if you miss one step, you do not receive the rebate.
Companies bank on the fact that many many people will either be too lazy to follow through with the rebate process or make a mistake in the submission process.
I see where you are going with this but just like what Dee said, the company set the rules and Johnathan and the rest of us are only playing by the rules. Or if they started spamming people and trying to use their information… If you are abiding by their rules, how are ethics involved?? I was impressed with their service though, and now I have two business accounts, a money market and a joint checking account with them.
This always comes up from time to time, but here goes. But some people will open up, try it out, and not qualify. Some with open up and eventually pay thousands and thousands of commission spreads. Some will open up, decide that FX trading is for the birds, and close. As long as Forex. Incentives in which some are losers are a perfectly valid form of advertising, and it can be very powerful. Why do you think huge corporations like Bank of America still do it regularly?
The same example I always give is the loss leader of milk in groceries. Also, you might decide the store is clean and useful, and come back again next week when milk is not on sale. Is it unethical to walk in and just buy the milk? If I were to leave the 10, in that account for 90 days, I will have to pay interest on my credit card. If you have cash laying around then it might work. Is it worth the hassle? Very good point Jonathan and it puts a fork in my argument. As you stated, if you just shopped around to take advantage of the chepa milk and nothing more, the store could possibly grab you as a new customer.
Can someone do the Zecco promotion AND this one? Jonathan, you are so wrong. How about them apples? How does the price-fixing of milk in your area have to do with my loss-leader analogy? Let Wikipedia explain instead…. This is my 12th week of paper trading. Just wondering what Brokers you might recommend we start with? Notify me of follow-up comments by email. Notify me of new posts by email. July 14, at 6: July 14, at 7: Best Regards, Blogging Banks. July 14, at 8: July 14, at NYGuy — I see where you are going with this but just like what Dee said, the company set the rules and Johnathan and the rest of us are only playing by the rules.
July 14, at 2: July 14, at 3: July 14, at 5: July 15, at I was not calling you out, more just throwing out a different perspective. July 15, at 1: July 16, at 6: July 17, at 6: July 17, at 4: Let Wikipedia explain instead… http: February 26, at 5: May 2, at Thank you for any suggestions! Dangerous Personal Finance Magazine Headlines: The Attraction of High Yields. I'm Jonathan and I've been sharing about money since Father, self-directed investor, financial freedom enthusiast, and perpetual learner.
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