Hello admin of solidarity, I want to ask, if I win the instaforex trading contest, how will the prize money be transferred??
5 Answer
E
erik tri cahyo
11 Jan 2021, 15:32
To Arlindo,
Usually, prizes from forex trading contests are funds that will be credited to the winner's real trading account. Once the prize funds are credited to the winner's real trading account, the winner can then withdraw the funds by making a withdrawal as they normally would.
Hope this helps.
H
Herawan
15 Jan 2021, 11:32
But there's a condition, Sir, that it can't be withdrawn, it has to be traded first until a certain number of lots are reached within a certain time, and then it can be withdrawn. How does that work, Sir?
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erik tri cahyo
18 Jan 2021, 21:19
To Herawan,
That's correct. Some brokers set additional rules and terms for withdrawing bonus/gift funds. In other words, to be able to withdraw/take out the funds, you must first meet all the additional requirements set by the broker.
For example, a broker sets additional rules/terms such as:
Bonus/gift funds must be used for trading first,
You must trade with a certain accumulated lot size,
Even requiring you to deposit a certain amount of real funds first.
If there are additional rules like the above (or other rules), then you must first meet all of these requirements. Therefore, we suggest always reading and understanding all applicable terms and conditions before deciding to open a bonus/contest account.
Hopefully this helps.
H
Herawan
20 Jan 2021, 14:42
Yes sir, that's right, but here's the experience from the red and green brokers, the additional rules are not written in the description. It's only explained when we ask CS. If any friends here participate in bonuses like this, what are the technical details to ask CS? Rather than being scammed, you have to deposit how much $$ first.
E
erik tri cahyo
25 Jan 2021, 20:38
To Herawan,
Usually, brokers list all the terms and conditions of a bonus account on the initial page when opening the bonus account. Even if one or two things are not listed, the broker will usually inform you once the bonus account is running. And this has become commonplace for offshore brokers to attract new customers/traders. Read Also:Getting to Know the Types of Forex Brokers
Therefore, we always recommend reading and understanding all applicable terms and conditions before opening a bonus account. If you feel something is odd or are still confused, please ask the broker's customer service directly. If necessary, ask fellow traders who have participated in the bonus program to gain experience and some testimonials from traders who have successfully withdrawn their profits. This needs to be done so that you do not feel cheated or hampered by the broker when withdrawing profits.