FXGiants Deposit Bonus
Looking for promotions from the FXGiants. Dedicate some time to read our review on the promotions offered by FXGiants and see if they are worth your time.
There are currently two different FXGiants subsidiaries under two different companies operating in two different countries.
The first subsidiary is located in the UK. It is owned by 8Safe UK Ltd, formerly known as the UK branch of IronFX, and regulated by the FCA. The second subsidiary is in Australia, owned by GVS (AU) Pty Ltd and regulated by the ASIC.
Only the UK subsidiary has a deposit bonus therefore we will be reviewing that FXGiants’ bonuses.
FX Giants Bonus
FX Giant currently offers 3 different bonus options.
- $35 No Deposit Bonus
- 100% Bonus Maximiser
- 20% Bonus Advantage
While these bonuses seem quite attractive in theory, namely the FXGiants 100% bonus, they are not that appealing once you have read the terms and conditions.
Firstly, let us state for new traders that these bonuses are not actually money but are trading credit that you can only use for executing trades exclusively with FX Giants.
$35 No Deposit bonus
You receive $35 without having made a deposit if you open an account with FX Giants between September 1 and September 30, 2016. They claim that this FXGiants trading bonus will be available in the future as well but this is solely at their discretion. Also once you have participated in it then you cannot participate again.
While we will not list out the entire terms and conditions, there are a few things to point out:
- You cannot transfer bonus funds to any other FX Giants account you may have.
- FX Giants can remove the bonus funds from your account whenever they feel like
- If you do not have sufficient funds to withdraw then FX Giants will remove all funds from your account.
100% Bonus Maximiser
This bonus is probably the most attractive as not many brokers promise to double your deposit.
However, once you have read the terms and conditions for this FXGiants bonus on deposit then you will realize that it is not so attractive after all. Firstly, you cannot participate in this bonus and any other at the same time. Also you are limited in how much you can withdraw.
If you have $20,000 as your capital after the bonus, then make $10,000 profit then you can only withdraw $15000 which in reality leaves you with $5000 profit and the other $5k goes to FX Giants.
Also you this bonus only applies to deposits upwards of $500.
20% Bonus Advantage
This FXGiants bonus on deposit has similar rules to the ones mentioned above.
- You cannot participate in this bonus and any of the others at the same time.
- Also you must notify FX Giants in order to receive this bonus.
- You must deposit more than a $100
And also when withdrawing money, they subtract the bonus amount from you.
Example – If you deposit $10,000 and then receive 20% which is $2000 leaving you with $12000 and have a profit of $8000. You have a total balance of $20,000 however FXGiants will subtract $2000 leaving you with only $18000 to withdraw.
While these bonuses are attractive, once you have actually reviewed the terms and conditions, you realize that you lose quite a lot and they are not as attractive as you once thought.