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Thread: IMPORTANT: Bonus system abuse.

  1. #1
    Director of FXOpen Aus FXOjafar's Avatar
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    Default IMPORTANT: Bonus system abuse.

    Dear Clients

    Due to abuse of the bonus system the following method is not allowed.

    1) Open 2 accounts
    2) Make minimum deposit to both accounts
    3) Open opposite positions on each account
    4) Let one account profit and the other account run into loss and wipe out

    If it is detected that anyone is abusing the system with this technique, all bonuses and profits made will be voided without warning.

    Thank you for playing fair with FXOpen as the company plays fair with you by offering a bonus in the first place.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  2. #2
    Administration FX Ind Manager's Avatar
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    what if he did 1,2 only (not 3 and 4 )...
    FXInd.com Livechat Support

    Kindly don't send support question via PM.

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    Default

    Quote Originally Posted by RebateFX.com View Post
    Dear Clients

    Due to abuse of the bonus system the following method is not allowed.

    1) Open 2 accounts
    2) Make minimum deposit to both accounts
    3) Open opposite positions on each account
    4) Let one account profit and the other account run into loss and wipe out

    If it is detected that anyone is abusing the system with this technique, all bonuses and profits made will be voided without warning.

    Thank you for playing fair with FXOpen as the company plays fair with you by offering a bonus in the first place.
    Well, first of all this is stupid.

    U talk of fairness on your side? What bloody fairness are u talking about when u're messing in my trade by openly prohibiting or allowing certain trades? Can I trade freely? Or maybe I should call & ask for your approval whenever I want to enter? Ha-ha. It makes me laugh to realise that u(belvedere) can't live a single day without posting some ridiculous restrictions on your clients' trade.

    Most ridiculous of all is probably forced acceptance of $25 bonus. I guess this is needed in order to successfully interfere with your clients’ trade lol.

    PS.I'm gonna wait till u're registered in the US to make things clear.
    PS2.If u what to give us your money why can't u simply do it?!

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    Something else: belvedere talks way too much of voiding its client's profits

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    Default Promotion Bonus disapointed

    Dear Manager..

    Please do not makes change day by day, time by time, for the program bonus, I think its makes many mistakes at all, Thought its goal to promoted but seem too much hurt , any way. Iam a nubie but gonna learn bout trade forex with you, Iwas get hurt that you take all my profit yestdy, i wanna open again but get woried...its happen again that the end of my trade you take away my profit...

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by fat.trader View Post
    Well, first of all this is stupid.

    U talk of fairness on your side? What bloody fairness are u talking about when u're messing in my trade by openly prohibiting or allowing certain trades? Can I trade freely? Or maybe I should call & ask for your approval whenever I want to enter? Ha-ha. It makes me laugh to realise that u(belvedere) can't live a single day without posting some ridiculous restrictions on your clients' trade.
    How about this?

    You do as is described 10 times. You lose 10x bonuses. FXOpen loses $250 in bonuses given in good faith.

    If 10 people do the same thats $2500 lost.

    There are over 33,000 accounts at FXOpen. If just 1% of people try this, thats $8250 lost in bonus payments to clients. If you include the bonus payments they keep, thats $16,500 in additional outlay. If those 330 people do it 20 times thats $33,000 in outlay by FXOpen just so you can play a silly little game rather than do what the vast majority of people at fxopen do and that is just simply trade!

    Is it fair that FXOpen pays for that?

    Bottom line is, if you just open your account, trade like any normal trader does without playing games or trying to cheat the system or exploit loopholes or bugs, your trading experience at FXOpen is one of the best there is.

    I don't say this from the perspective of someone working as closely with the company as I am. I say this as a trader who has traded live accounts with a wide variety of brokers and I know the advantages and disadvantages of all of them.

    FXOpen plays fair with you. Please play fair with FXOpen.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  7. #7
    Bullish lionel.leo's Avatar
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    Quote Originally Posted by RebateFX.com View Post
    How about this?

    You do as is described 10 times. You lose 10x bonuses. FXOpen loses $250 in bonuses given in good faith.

    If 10 people do the same thats $2500 lost.

    There are over 33,000 accounts at FXOpen. If just 1% of people try this, thats $8250 lost in bonus payments to clients. If you include the bonus payments they keep, thats $16,500 in additional outlay. If those 330 people do it 20 times thats $33,000 in outlay by FXOpen just so you can play a silly little game rather than do what the vast majority of people at fxopen do and that is just simply trade!

    Is it fair that FXOpen pays for that?

    Bottom line is, if you just open your account, trade like any normal trader does without playing games or trying to cheat the system or exploit loopholes or bugs, your trading experience at FXOpen is one of the best there is.

    I don't say this from the perspective of someone working as closely with the company as I am. I say this as a trader who has traded live accounts with a wide variety of brokers and I know the advantages and disadvantages of all of them.

    FXOpen plays fair with you. Please play fair with FXOpen.
    yerp. i agree with u. im ok with that bcos im playing fair. we need to know why the company make that kind of restrictions rite? if someone dont agree with the system, maybe u can just simply go to another company isnt it? but for me, i already satisfied with this type of system. but i want to make a suggestion here.. a little bit about marketing strategy. how bout the trader can choose between two packages? 1st package will gives the trader the bonus amount with some of restrictions and the 2nd package is for normal account. normal account here means no bonus money and they dont have any restrictions on how they gonna manage their account. this packages allow the traders to choose between the systems. this kind of system can attracts many more fx traders i think..

  8. #8

    Default

    Quote Originally Posted by FX Ind Manager View Post
    what if he did 1,2 only (not 3 and 4 )...
    Yes..What if someone wants to trde with more than one account?
    I think now the best way to do so is to fund the new account with internal transfer so there'll be no bonus ..so he can trade with no restrictions.
    Would that be OK?

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by [email protected] View Post
    Yes..What if someone wants to trde with more than one account?
    I think now the best way to do so is to fund the new account with internal transfer so there'll be no bonus ..so he can trade with no restrictions.
    Would that be OK?
    Yes I'm sure that would be ok. The issue here is multiple bonus account hedging, not trading legitimately with multiple accounts.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Bullish lionel.leo's Avatar
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    haha.. i think there's confusion here.. rebatefx.com, i think u need to make this clear. from my opinion, rebatefx.com wanna say this way: we cannot open 2 accounts -then make minimum deposit to both accounts -then open opposite positions on each account -then let one account profit and the other account run into loss and wipe out- the company are denying us on making this steps all together but actually they dont put obstacle for us in having multiple accounts. hmm.. do u got what i mean?in other words, we can do the 1st step [1) Open 2 accounts] but we cant go to the other steps [2,3,4].. hmm.. is it clear?

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    Quote Originally Posted by sarinursanty View Post
    Dear Manager..

    Please do not makes change day by day, time by time, for the program bonus, I think its makes many mistakes at all, Thought its goal to promoted but seem too much hurt , any way. Iam a nubie but gonna learn bout trade forex with you, Iwas get hurt that you take all my profit yestdy, i wanna open again but get woried...its happen again that the end of my trade you take away my profit...
    yup! totally agreed with u.
    i think before any changes,fxopen must inform to all earlier.
    about in a week or more,.
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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by lionel.leo View Post
    haha.. i think there's confusion here.. rebatefx.com, i think u need to make this clear. from my opinion, rebatefx.com wanna say this way: we cannot open 2 accounts -then make minimum deposit to both accounts -then open opposite positions on each account -then let one account profit and the other account run into loss and wipe out- the company are denying us on making this steps all together but actually they dont put obstacle for us in having multiple accounts. hmm.. do u got what i mean?in other words, we can do the 1st step [1) Open 2 accounts] but we cant go to the other steps [2,3,4].. hmm.. is it clear?
    It is quite clear. Let me explain it with more detail.

    1) You open 2 accounts
    2) You minimum deposit to both giving you 2x $50 accounts
    3) You place opposing trades on each account. Long gbp/jy on one and short gbp/jpy on the other
    4) gbp/jpy rallies 100 pips.
    5) You let one account wipe out including the bonus. You keep the account that is in profit.

    This is unfair because FXOpen loses money (The bonus given) so you can play a game. Is that clearer now?

    If you can't trade, you should spend more time on demo and learn how to trade instead of trying to cheat the system.

    I can suggest a simple solution if you want to play. Make your deposits to the accounts using internal transfer therefore the bonus payment is not given. Or deposit to the accounts normally and then email [email protected], tell them what you are doing, and ask for the bonus to be removed before you play the game. Then you can play it with your own money.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  13. #13
    Bullish lionel.leo's Avatar
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    hmm.. i got what u want to tell me. but i think u r not get what im trying to say. im totally agree with u. but some of the other traders think that the traders cannot open 2 accounts. i mean, we actually can do only first step. not the other steps (steps 2-5).. the traders miss understand what u r going to deliver.. some of them think that we cannot open more than 1 account..

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    Intraday Master hinomaru's Avatar
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    yes,there are many misunderstanding about point #1..
    if i have 4 account and both of the bonus and deposit on all account run into loss...so?fxopen still loss?it's still unfair for fxopen??
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    PLEASE remove this bonus system totally from the system, and i think every one will be happy...

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