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[FREEBIE] Instant Free $30 AUD to Try Your Hand at Online Forex Markets - Plus500

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[FREEBIE] Instant Free $30 AUD to Try Your Hand at Online Forex Markets - Plus500
Go to Deal
wazza23 on 07/05/2013 - 20:11 plus500.com (1448 clicks)
Last edited 08/05/2013 - 12:17

WORST CASE SCENARIO: YOU LOSE THE FREE MONEY

BEST CASE SCENARIO: YOU GET TO THE 60 TRADER POINTS (not too difficult if you trade wisely) AND CASH OUT ANYTHING AND EVERYTHING!

Freebie is pretty straight forward, $30 for free when you sign up.

Once you get 60 trader points (you get them by trading) you can cash out straight to your bank account or moneybookers etc. I got mine up to $75 then lost it all with silly trading.

Have a bit of fun with it, it is after all $30 for free.

Instructions:

Download the Plus500 trading software
Click on ‘Real Money’
A New Account window will open. Enter your new account details and click 'Submit'
In the drop down menu at the top of the page, click on ‘Account’ -> ‘Validate Phone'
Enter your personal details and click 'ok'
Enter your mobile number WITHOUT the country code and click on 'Send me a SMS'
You will receive a 3 digit code via an SMS message. Enter this code in the '3 digit code' field
$30 will be added to your account and you can start trading

Don't worry about the SMS bit, it's so they can try stop multiple accounts, they don't spam you, only ever received one text from them saying my withdrawal has gone through.

AND PLEASE HELP A FELLOW LONG TERM OZBARGAINER OUT!!!!

Affiliate link here: http://www.plus500.com/Marketing/Promotion1.aspx?id=1183&tags=ozbargain&pl=2

EDIT: Trading in forex is very risky and make sure you know what you are doing before depositing your own money!

Financial Foreign Exchange

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closed Comments

  • easternculture on 07/05/2013 - 20:16

    Doesn't federal money laundering laws require a broker/trading company to have your ID on file (either in the form of passport or Drivers License with your current address)?
    This applies to USA and Australia as far as im aware

    • -.- on 07/05/2013 - 20:21
      +3

      When you withdraw money, you need to validate your ID by submitting a scan of passport/Driver's License etc.

      • easternculture on 07/05/2013 - 20:24

        As per http://www.cftc.gov/IndustryOversight/AntiMoneyLaundering/in…

        The CIP rules permit FCMs and IBs to rely on other financial institutions to perform identification/verification functions; however, the reliance must be reasonable under the circumstances, the relied-upon financial institution must be subject to an AML program rule under the BSA and be regulated by a Federal functional regulator, and the financial institution must enter into a contract requiring it to certify annually to the FCM or IB that it has implemented an AML program and that it will perform specified requirements of the CIP. Pursuant to a staff no-action letter issued on March 14, 2005, FCMs and IBs may rely upon certain CTAs to perform procedures of the FCM's or IB's CIP even though such CTAs are not yet subject to an AML program rule.

        Final rules regarding customer identification programs have also been issued for banks, savings associations, credit unions, and certain non-federally regulated banks; broker-dealers, and mutual funds. The rules are substantively identical for all affected sectors of the financial services industry. These rules require that financial institutions have procedures for checking customer's names against lists of known or suspected terrorists or terrorist organizations that are prepared by any federal agency and made available to the institution. Although no lists have yet been designated, financial institutions are separately required to comply with the rules of the Office of Foreign Assets and Control (OFAC) and must consult OFAC's lists of sanctioned countries and specially designated nationals and blocked persons. Sources for complying with OFAC rules:

        OFAC's "Opening Securities and Futures Accounts from an OFAC Perspective" guidance;
        The American Bankers Association's primer and briefing on OFAC compliance; and
        OFAC forms for reporting blocked or rejected transactions.

        • wazza23 on 07/05/2013 - 20:28

          Yep I sent drivers license. And it was very easy to withdraw

        • easternculture on 07/05/2013 - 20:34
          +5

          so $30 for them to have your identity, no thanks not worth it
          Also too much time and effort to be able to withdraw the money

          Other alternatives: Forex.com allows you to setup a trial trading account with fake $50000 dollars. You will learn much better from this account as you have more money to move. The trial account is stil in real time with real time exchange rates

          Also you may want to put in the OP that they require ID to withdraw the money

        • wazza23 on 07/05/2013 - 20:37

          Up to you. It's not for everyone. If you lose your money and don't withdraw anything they DON'T need ID or anything for anyone who is wondering.

  • altomic on 07/05/2013 - 20:16
    +1

    what are the trading fees?

  • simprosimple on 07/05/2013 - 20:23
    +4

    It's impossible to get the $30 for free, you can only earn very very little trader points per $1000. You need to trade about $10000 to get 60 trader pointssss

    • wazza23 on 07/05/2013 - 20:28

      Nah I was already up to about 25 points and that was still with my original $30. Not impossible but needs patience.

    • clandestino on 07/05/2013 - 20:29

      Thanks for this comment. After registering and playing around with a couple of screens, it seems that you have saved me an hour or so of my time…

      • wazza23 on 07/05/2013 - 20:31

        Apologies if you thought it was a quick way to get $30, does need some time, but can pay off big time!

        • clandestino on 07/05/2013 - 20:39

          No problem mate. I did think that it was a quick way to get $30 or more.

        • WaywardOne on 08/05/2013 - 15:19

          $10,000 in trades…phew.
          Assuming you break even for every trade, that is 334 trades…wowsers

      • -.- on 07/05/2013 - 20:33
        +2

        It's a bit of fun at any rate, if you want to take it seriously, then the bonuses look like a good deal. They're quite substantial.

  • gooddealmate on 07/05/2013 - 20:55
    +1

    used your link, thanks, but struggling to find anything i can buy with the $30? any tips?

    • wazza23 on 07/05/2013 - 20:59
      +2

      Yep when you trade the forex pick the lowest number volume you can possibly get. You'll find something.

      • CyberMurning on 07/05/2013 - 21:15

        Will that free $30 enough to trade equities/stock? Or only forex?

    • -.- on 07/05/2013 - 21:00
      +2

      So long as the required securities figure is <$30, you're good to go.

      • -.- on 07/05/2013 - 21:05

        well I'm on $1 profit, almost a 1% increase xD. You're not going to get rich at any rate!

      • CyberMurning on 07/05/2013 - 22:11

        the cheapest i see is major forex and requires $12-16 a trade minimum
        so we can only have 2 open positions with $30? any other cheaper trades?

  • -.- on 07/05/2013 - 21:02

    Question is, where do you see how many trader points you have?

  • gooddealmate on 07/05/2013 - 21:04

    Made $79 with my $25000 practice account buying and selling gold..

  • wazza23 on 07/05/2013 - 21:16
    +3

    I got my $50 deposit I made up to $300.

    Did that in about 2 hours haha.

    You don't always get lucky!

    • Qlander on 07/05/2013 - 21:22

      Tell us more. What did u do?

      • wazza23 on 07/05/2013 - 21:26
        +6

        Watched the AUD/JPY when it went on a big downer, as soon as it started coming up I bought it and sold 15 mins after that.

        Did that again at the top of the peak (or what I thought the peak was) but 'sold' the item (which means when it goes down you MAKE money) and made some more as it came down.

        I recommend you use things like this…VERY useful!

        http://www.dailyfx.com/forex/education/trading_tips/post_of_…

    • CyberMurning on 07/05/2013 - 21:25

      yes please… tell us how

  • RubenM on 07/05/2013 - 22:07
    +1

    Certainly not worth it for me!
    http://www.mywot.com/en/scorecard/plus500.com?utm_source=add…

    • wazza23 on 07/05/2013 - 22:17

      I was worried about that too at first but after searching other forex sites…I found that they all have a bad reputation!

      I can only go by how they have dealt with me, the withdrawal process was very quick, the software is good and easy to use once you are familiar with it, there are regulatory bodies who check on these forex websites, they have good support.

      Unfortunately you will find bad reviews everywhere on most forex websites.

      As has been mentioned, it's $30 free, might make you a bit of money.

      • gravyboat on 07/05/2013 - 22:24
        +3

        Looks like you had the same concerns back in 2010 when you posted the same thread.

        • CyberMurning on 07/05/2013 - 22:27
          +1

          hey, how coincidence you did exactly the same thing 3 years ago

          3years ago post:
          "I got mine up to $75 then lost it all. Deposited $50, got that to $300 then cashed out through moneybookers."

          hmm i WORRIED now.. are you sure you are not their rep?

        • wazza23 on 07/05/2013 - 22:30

          The post 3 years ago was $25 no deposit.

          It is now $30

          I have recently got out of the stock exchange and gone back to forex trading, hence finding out it has changed to $30.

          I am definitely NOT their rep. Just simply copied and pasted my previous post because the only thing that changed was $25 -> $30

        • richie83 on 08/05/2013 - 10:40

          Why would you go back and copy a comment from three years ago and not just spend 30 seconds typing something new out?

        • wazza23 on 08/05/2013 - 11:34

          Coz its exactly the same steps and process. Stop being silly with useless comments

        • CyberMurning on 08/05/2013 - 11:44

          understand for processes are same, but do you really done:

          "I got mine up to $75 then lost it all. Deposited $50, got that to $300 then cashed out through moneybookers."

          3 years ago and yesterday?
          if not better remove those sentences from your post.

          hey im at $1 profit.

  • BakedPete on 07/05/2013 - 22:59

    I have done everything but still no $30.
    How long is the wait for the credit?

    • CyberMurning on 07/05/2013 - 23:17

      immidiately. instant.
      follow the steps above steps again.

      • BakedPete on 07/05/2013 - 23:40

        I tried again with a different mobile number and still no credit.

  • nulled on 07/05/2013 - 23:05
    +1

    Is it a Scam? Just read the same post from the OP three years ago http://www.ozbargain.com.au/node/27414
    Didn't receive that much plus then either. How do you become an affilate, couldn't find a link.

  • meroveus on 07/05/2013 - 23:20
    +1

    I tried for ages to download this trading app from plus500.com, trying Firefox, IE and Chrome.
    They all failed with a page unavailable error.
    Finally, I remembered that malwarebytes anti-malware has a habit of blocking sites it considers nefarious.
    Sure enough, when I disabled the bloody thing, I was able to get through and download the software.

    Thanks wazza, I used your referral link :)

  • danyool on 08/05/2013 - 01:23
    +1

    "What's the worst that can happen? Lose the 'free' $30?" I think it might actually be making some lucky trades and then thinkig you're an expert, and then putting in some of your own money without understanding the risks! Just sayin you may need to do a bit of research before getting into it. (and i don't really know myself, my cautious vibe might be over warranted, and i may be thinking more of CFD's where you can actually be up for losses more than you start with)

    • wazza23 on 08/05/2013 - 01:38
      +2

      Good point danyool, be careful when putting your own money in guys!! All the ozbargain savings could be lost in a few trades.

  • [Deactivated] on 08/05/2013 - 02:14

    Hey OP,

    Sorry if it's a noob question, but should I have an ABN to trade in Forex markets?

    • wazza23 on 08/05/2013 - 08:02

      No you don't need one.

  • jayt on 08/05/2013 - 05:03
    +1

    I'm guessing if you don't know what you're doing, it's not a good idea to do this considering you could end up with a fair bit of debt?

  • CyberMurning on 08/05/2013 - 07:28

    Warning do not put your own real money unless you know 2000%what cfd is.

  • ViperAMD on 08/05/2013 - 10:31

    Funny how you deposited $50 after losing your free deposit - the exact minimum amount required to gain $500 for an affiliate sign up.

    • easternculture on 08/05/2013 - 11:52

      good find

      • wazza23 on 08/05/2013 - 12:06

        You can't get any affiliate money for your own sign up…

  • davidl2 on 08/05/2013 - 12:14

    if you need practice, do it on forex.com with the fake money
    no need to waste time building up from this $30….unless you know what you're doing!

  • UserInterface on 08/05/2013 - 12:35
    +1

    Thanks, bit of fun and it just feels better spending someone elses money :)

  • carlscott1982 on 08/05/2013 - 14:31

    Hi OP, not entirely sure what broker we're trading on…? Do you have the option to use MT4, or is this plus500 what we're dealing with here..?

    • wazza23 on 08/05/2013 - 14:35

      The broker and software you use is plus500

    • carlscott1982 on 09/05/2013 - 10:36

      hmmm.

  • kev2damax on 08/05/2013 - 14:45

    What happens if my loss goes below $30?

    • UserInterface on 08/05/2013 - 15:45

      That was quick :D

      • kev2damax on 08/05/2013 - 20:21

        Noooo, i haven't tried it yet, but i noticed most forex transactions were minimum $500. So i was wondering what would happen if the the value of my holdings drop below 470.

        • clubhonda on 08/05/2013 - 20:54

          Its not possible, way before that happens, you will get a margin call and if it drops below your maintenance margin, they will force liquidate your position, so it won't ever get to the point where you lose more than what you have.

        • extract on 09/05/2013 - 09:33

          My account went into negative when i guessed wrong on an NFP announcement using an MT4 broker.

  • JohnHo on 09/05/2013 - 12:57
    +2

    For what's on offer here, my OzBargain Friends, make sure you are only for fun UNLESS you know exactly what you are doing. Trading is the HARDEST way to have an easy life or to get rich quick!! Write it down & out in front of your "trading platform" to save your sanity AND $$$.

    Having said that, it's a good way for the old hands (i.e. those who had burned themselves before) to get back to the market if they have much better mental discipline to play this DANGEROUS MIND GAME.

  • robhan on 21/05/2013 - 14:12

    I'm in this ONLY FOR FUN and have no intention of depositing any of my own money… but it's not much fun when i can't find a single thing to buy with $30… anybody have any suggestions?

    • CyberMurning on 21/05/2013 - 14:20

      try forex aud/usd… buy or sell only use around $12-15 i forget so you can get 2 open positions in the same time.
      other currency are more expensive

      • robhan on 21/05/2013 - 14:28

        Thanks :)

  • TravelKon on 28/05/2013 - 15:19

    Can anyone tell me how to check how many trader points you have? I've been trading a few times and under monetary history my points is 0…??

  • 82Degrees on 30/05/2013 - 14:42

    So basically this is just like those "free money" offers you get from online casinos. Pointless unless your wanna waste tons of time making hundreds of trades before you can withdraw.

  • moonwalk on 01/06/2013 - 15:23
    +1

    is this better than go to casino and hit hard on roulette machine? =)

    • wazza23 on 09/06/2013 - 21:22

      hahaha

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