No Deposit Forex Bonuses List Updated November 2020

It all starts with a random phone call...

The job? I cold called Nigerians and South Africans, convince them to open a CFD trading account with up to 1:400 leverage and make them deposit as much money as possible. Now, a bit of background;
This was happening in Sofia, Bulgaria and as much as I know, still does. The poorest country in the EU. Average monthly salary is $700, average monthly pension is around $180. Imagine a low budget version of the shittiest boiler room movie you can recall. You are not even close. A Turkish prison looks much better. Not even a cubicle. A table, and as much people sitting on, below, around it, etc. So, you are calling those people and you chase them 8 hours a day, with the sole purpose of taking their money. Lying is okay, no regulation, dialing through a VPN, using stage names. Now, the people who worked there were mostly young people, quite stupid to be honest.But really, really manipulative, deceiving, sneaky, stone cold liars. In my working docs, it said I was a "marketing specialist". In the actual company though, you are either "sales" or "retention". The sales agent must close the lead, gets a deal on the board and passes it to the Retention agent. And the madness begins. CFD`s are banned in the US, so those types of companies work with the rest of the world. For the last 8 years, South Africa, Italy, Germany, UK and Spain are the biggest markets.
So, fast forward,a few months pass and I end up being a Retention agent. On my second day there, the boss comes out and says the Top10 salaries in the department. At this point of my life, I though $1500 is an amazing salary, considering the average is 7$00.
"$46 000, Mr.X" "$35 000, Mr.Y" Etc... Umm. What? So how you make so much money? Once you get a lead, your job is to tear him/her apart. Lie, manipulate, build chemistry, build solid KYC, promise the world, scam and take every last penny of the poor soul. 95% of the First Time Deposits are below the $500 mark. Then the retention agent makes sure to throw the poor soul in the ocean of CFDs. One thing amazes me quite a lot. Most of the people who open accounts are genuinely stupid, some are totally broke. The company wasnt regulated, there were like 250 comments in forums that we are scammers, but people still joined.
"But I read in the web that you are not regulated and you will steal my money"
"If I write an article that you are a gay, would this be true?"
Boom. That easy. Throughout my whole career I have literally seen amazing stuff ...a person saying "no" for 10 minutes straight. Then he deposited Grown ass men, being screamed at like they`re in 2nd grade. A guy from Nigeria, used to scream while depositing and losing $75 000.
He claimed he was the Tiger of Forex. Lost a bit more than $800 000.
Depositing and losing. The retention agent`s commission was based on the net amount of deposits and withdrawals of your portfolio. Depending on the money you had brought, the commission was between 3% and 8.3%. Different bonus accelerators, bonuses for trading volumes, spread generated, incentives, etc. The best agents brought between 350k/700k a month. Once again, almost nobody from the whole department knew anything about the financial markets. But once you get a lead who has no clue what is going on, you paint the picture.
When you can make a few hundred percent gain in a day... Why not? Literally can not go tits up.
We called the clients and the show began. Exposing their accounts on a 100%, calling them for more money when the margin went down, we educated them! You will be amazed, how a man can believe a voice in the phone more than he can trust his eyes and own mind. From day 1, you see what kind of a person you are dealing with. Some go massive yolo. Some open one trade a week. Some literally spend 18 hours a day, losing since the beginning. So, in a way,as an ex gambler I started to feel bad. Seen so many depleted credit cards, broken lives, it really put me in perspective. Yeah, money was good for a 22 year old. Seeing a few guys who were making upper 6 digits was quite motivating. Eventually I could not take it. I know how it feels, being a gambler. So, as I saw both sides of the coin
Took a break and a few years later I began working in a regulated company. But the job is still the same. I just can not lie... a lot : ). But I noticed something else. Now I am actually trying to help the clients. I don`t pitch them for more money. I am trying to really help. Literally telling them and warning them about everything that can go bad. Most folks now do not really want to speak with me, because they think I want to screw them (cant blame them) And somehow I reach the company target, while browsing reddit, smoking a pack a day, scratching my balls and going yolo on a demo account :) My question is: Should I leave my portfolio alone and see how much people will lose? Should I actually pitch them and chase their money and make more commission for me? Or should I continue trying to actually help them make money, but clearly waste my time?
PS: yolo, buy #vxxb (already inverted)
submitted by samgold13 to wallstreetbets [link] [comments]

[Forex Broker Exposure] GPAK Has Been Investigated by the Police

As the financial market with the most frequent transactions, the Forex market is favored by global investors due to its high efficiency, liquidity and flexibility. However, many illegal brokers also lurk around on this lucrative market, attracting investors with appealing yet misleading advertisement such as “starting trading with only US$5” and “speedy deposit and withdrawal”, or promising investors so-called “bonus” for successfully inviting others to open account at the platform. But behind the attractive “high profits” claimed by brokers, there are often great risks or even traps.

As one of the victims suffering such broker scams, Mr. Wang reported GPAK to WikiFX and shared his experience of being defrauded to warn other investors against the illegal Forex broker.

Complainant: Mr. Wang
Forex broker: GPAK
Broker website: http://www.gpakcn.com/
Time of opening account: February, 2019
Time of withdrawal: June 20th, 2019
Withdrawal status: in process
Customer service: no response
Website status: inaccessible

Event Recap
I opened an account on GPAK in February, 2019 under the recommendation of a friend and made 2 deposits through Alipay. From February to June, I managed to make some profits which added up with the initial deposit to US$3,503.62.
I once contacted the customer service in April to withdraw, but was advised to wait, as he claimed my request won't be processed during the May Day holiday. On June 20th, I was informed that my application had been approved. But strangely enough, my trading account showed the application remained in process and I still didnt receive the money a week later. When I tried to log in my GPAK account, I found the website was no longer accessible and the customer service didn't reply any more.

Case Study
First persuade investors to deposit through “acquaintance's recommendation” , and then postpone their withdrawal applications to prepare for escaping, which is an old trick of illegal brokers.
In Mr. Wang's case, GPAK first got Mr. Wang to deposit through the marketing strategy of “acquaintance's recommendation” and further lured him into making more investments with attractive profits. When Mr. Wang tried to withdraw, the customer service began to pull up all kinds of excuses such as withdrawal can't be processed during the holiday in order to postpone withdrawal and perhaps win themselves more time for running away.

Case Summary
As more Forex scams have been exposed, the illegal brokers also become more sophisticated in their tricks. We conclude the following tips based on Mr. Wang's case:
  1. Investors should always check a broker's qualification and stay prudent about the recommendations of others, even from your friends.
  2. Think twice when you seem to be profiting and want to double down your deposit, as no investment comes without risks.
  3. Asset safety should always be your priority. Only deposits made through UnionPay or in escrow are under the regulation of the People's Bank of China, and there's still a chance of getting the money back even if you' re defrauded. However, if the deposit is made through Alipay, WeChat Pay or personal transfer, investors risk suffering great loss.

Conclusion
According to the information on WikiFX App, the licenses from FCA(UK) and NFA(US) which GPAK claims to hold are suspected to be cloned, while its AR license from FCA(UK) has been revoked. Currently without valid regulatory status, the broker is rated at only 1.93 on the WikiFX App and bears significant risks, please stay away from it.
submitted by jumpjumpskate to investing [link] [comments]

Global Restrictions Curbing the Unregulated FX & Binary Options

Global Restrictions Curbing the Unregulated FX & Binary Options


The year 2018 has brought serious restrictions for all Binary Options & Unregulated FX Brokers. The growing strict policies ensure the safety of the masses of clients which are promised astronomical returns on their investments by some unethical Binary & FX services provider.
These restrictions have come from some big giants such as Visa, MasterCard, Skrill, Google & Facebook. Let's have a look on how each affects the business of the aforementioned financial services providers.
MasterCard :
The industry giant and one of the biggest payment providers sent out emails to all payment processors informing them about the new changes made by the firm. MasterCard has singled out all binary options, CFDs, Forex, CryptoCurrency & ICOs and flagged them as "High Risk Businesses". Meaning that all business having operations in jurisdictions without licenses will be re categorized into a new risk category for which the clients will be able to execute the charge backs for up to 540 days. This came into effect from 12th October 2018 ensuring that all brokers now play by the rules and do their business in the allowed jurisdictions only.
VISA:
Following the footsteps of MasterCard the payment provider has also decided to curb the unregulated FX,Options, Crypto & ICO business. Visa same like MasterCard will now be considering such businesses as Gambling Providers for the geos they are operating in without license. Acquirers will need to review the clients offering of said products and will immediately terminate all business activities in prohibited markets.This exempts Regulated Brokers however they must apply for being granted these privileges as carrying high risk firms which will still change many things for their business. The new VISA rules will come into effect from 1st December 2018.
Skrill :
Skrill which is one of the brands of the PaySafe Group and one of the widely used money transfer service in the FX sphere globally will now also be asking FX & CFD brokers to provide official copies of their license covering their operations legally. This rule comes into affect from 30th November after which customers from EU countries will not be able to transfer money to such firms. These brokers will however be given 2 weeks in which the company can use Skrill to return the funds of their clients. This move is expected to be followed by other payment companies in EU like Neteller, Webmoney, Fasapay, SoFort & Klarna.
Google:
Since July 2018 the giant Search Engine has placed restrictions over the advertising of Binary Options, Crypto, ICOs,Spread Betting and synonymous products. Brokers offering such services will now need to acquire a certification from google so they can advertise through Google Adverts one of the biggest advertisement platforms of the world.
In order to be able to get the certificate the broker must :
1) Be licensed by the relevant financial services authority in the countries they are targeting.
2)Ensure that their ads comply with googles polices such as the provision of legitimate contact info for a physical address of the business being promoted.
3) Comply with relevant legal requirements, including those related to complex speculative financial products.
Facebook:
At the start 2018, The Product Director at Facebook, Rob Leathern mentioned in a blog post that "Misleading or Deceptive Ads have no place on facebook". Many companies which were promoting ponzi schemes, crypto offerings and ICOs will now have difficulty in getting their adverts approved. The new rules state that the ''Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices such as binary options, initial coin offering or Crypto currency''.
Conclusion :
All these industry giants coupled together with the new ESMA ensure that small to medium sized investors are safe from losing their money to such firms. The safety mechanism of these big firms complements the new ESMA perfectly however one effect that can be seen from all this is the brokers and the retail investors looking for flexible legal alternative to counter the low leverages and no bonuses and as such only time will be able to tell if these new measures will be successful in limiting the deposits in offshore entities .
To keep up to date with the latest trends in Crypto, Forex & Stock Market updates visit Stratton Forex.
Subscribe to our blog for keep up to date with the latest market trends and opportunities.
submitted by StrattonForex to u/StrattonForex [link] [comments]

Global Restrictions Curbing the Unregulated FX & Binary Options

Global Restrictions Curbing the Unregulated FX & Binary Options


The year 2018 has brought serious restrictions for all Binary Options & Unregulated FX Brokers. The growing strict policies ensure the safety of the masses of clients which are promised astronomical returns on their investments by some unethical Binary & FX services provider.
These restrictions have come from some big giants such as Visa, MasterCard, Skrill, Google & Facebook. Let's have a look on how each affects the business of the aforementioned financial services providers.
MasterCard :
The industry giant and one of the biggest payment providers sent out emails to all payment processors informing them about the new changes made by the firm. MasterCard has singled out all binary options, CFDs, Forex, CryptoCurrency & ICOs and flagged them as "High Risk Businesses". Meaning that all business having operations in jurisdictions without licenses will be re categorized into a new risk category for which the clients will be able to execute the charge backs for up to 540 days. This came into effect from 12th October 2018 ensuring that all brokers now play by the rules and do their business in the allowed jurisdictions only.
VISA:
Following the footsteps of MasterCard the payment provider has also decided to curb the unregulated FX,Options, Crypto & ICO business. Visa same like MasterCard will now be considering such businesses as Gambling Providers for the geos they are operating in without license. Acquirers will need to review the clients offering of said products and will immediately terminate all business activities in prohibited markets.This exempts Regulated Brokers however they must apply for being granted these privileges as carrying high risk firms which will still change many things for their business. The new VISA rules will come into effect from 1st December 2018.
Skrill :
Skrill which is one of the brands of the PaySafe Group and one of the widely used money transfer service in the FX sphere globally will now also be asking FX & CFD brokers to provide official copies of their license covering their operations legally. This rule comes into affect from 30th November after which customers from EU countries will not be able to transfer money to such firms. These brokers will however be given 2 weeks in which the company can use Skrill to return the funds of their clients. This move is expected to be followed by other payment companies in EU like Neteller, Webmoney, Fasapay, SoFort & Klarna.
Google:
Since July 2018 the giant Search Engine has placed restrictions over the advertising of Binary Options, Crypto, ICOs,Spread Betting and synonymous products. Brokers offering such services will now need to acquire a certification from google so they can advertise through Google Adverts one of the biggest advertisement platforms of the world.
In order to be able to get the certificate the broker must :
1) Be licensed by the relevant financial services authority in the countries they are targeting.
2)Ensure that their ads comply with googles polices such as the provision of legitimate contact info for a physical address of the business being promoted.
3) Comply with relevant legal requirements, including those related to complex speculative financial products.
Facebook:
At the start 2018, The Product Director at Facebook, Rob Leathern mentioned in a blog post that "Misleading or Deceptive Ads have no place on facebook". Many companies which were promoting ponzi schemes, crypto offerings and ICOs will now have difficulty in getting their adverts approved. The new rules state that the ''Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices such as binary options, initial coin offering or Crypto currency''.
Conclusion :
All these industry giants coupled together with the new ESMA ensure that small to medium sized investors are safe from losing their money to such firms. The safety mechanism of these big firms complements the new ESMA perfectly however one effect that can be seen from all this is the brokers and the retail investors looking for flexible legal alternative to counter the low leverages and no bonuses and as such only time will be able to tell if these new measures will be successful in limiting the deposits in offshore entities .
To keep up to date with the latest trends in Crypto, Forex & Stock Market updates visit Stratton Forex.
Subscribe to our blog for keep up to date with the latest market trends and opportunities.
submitted by StrattonForex to u/StrattonForex [link] [comments]

[Just Launched] Options Domination Binary Trading - [Amazing System] - True Risk Free Trades! [New for 2015]

Many brokers or services will market something called “risk free” trades in which a certain number of your first trades you can get your money back should the signals they give you prove to be of bad quality. In most cases there are many regulations that require you to keep investing a certain amount before you can withdraw your “risk free” trades. This is the sign of a bad signal provider that probably makes more money selling their signals then they do actually implementing them themselves.
In our case study of the system we won 5 out of 7 of the trades and pocketed $250 in profit which is a 25% return on a small investment. We were very impressed with these results. At that time we could have elected to withdraw our original $1,000 and essentially be playing with the $250 “on the house”. CLICK HERE TO GET YOUR RISK FREE TRADES NOW!
CLICK HERE TO GET YOUR RISK FREE TRADES NOW!
Using their basic system of signals we were able to accumulate over $10,000 in our account in just 30 days! These are better results then we have gotten with other binary signals costing 10 times the amount of what options domination is charging. For a simple $50 a month you get multiple daily signals, keep in mind they don’t send you 1,000’s of signals a day like most services as they are focusing on the quality of the signal and not just sending you a bunch of garbage signals like many of the other companies do.
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