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

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Instant Free $30 AUD to Try Your Hand at Online Forex Markets - Plus500
Go to Deal
wazza23 on 02/06/2015 - 20:23 plus500.com (2736 clicks)
Last edited 03/06/2015 - 09:27 by 4 other users

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.

Have a go, trade with the smallest amount you can get. And you may get lucky if the currencies go the right way!

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.

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

Feel free to read previous threads of this deal in 2013 and 2010.
https://www.ozbargain.com.au/node/102439

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closed Comments

      • Falbium on 03/06/2015 - 00:10
        +1

        "15.11 Each Transaction opened by you, and any Transaction completed, will be binding on you
        notwithstanding that by opening the Transaction you may have exceeded any credit or other
        limit applicable to you or in respect of your dealings with us."

        You don't have to give someone your credit card number to enter into a binding contract.

    • 2big4u on 03/06/2015 - 08:55

      should've read my post above :(

  • TwoDolla on 03/06/2015 - 00:13

    Deposit AU$75,000 get AU$10,000 free as a bonus?? Seems too good to be true. Couldn't easily find any T&C's relating to the bonus also.

    • mohan76 on 03/06/2015 - 00:26

      bonus are like virtual money you cant withdraw . if you withdraw your deposit your bonus also disappear . some broker allow withdrawal after you have met minimum transaction requirement (approx 4000-5000 lot [1 lot= 100k currency unit])

    • [Deactivated] on 03/06/2015 - 00:43

      But I think someone mentioned you have to treble your funds before you can run away with their generous moolay.
      Otherwise I'm in.

  • luke700 on 03/06/2015 - 00:32
    +4

    I used these guys for currency trading a few trades last year. Had an account balance of approx $1k, then I withdrew everything because the company (Plus500) crashed overnight due to accounting anomolies http://news.forexlive.com/!/shares-of-forex-broker-plus-500-… avoid.

  • longislandicetea on 03/06/2015 - 00:36

    How do I minimise my loss. I just got the free $30 and after reading the comments I am terrified. How can I change the loss parameters ?

  • piitaalaa on 03/06/2015 - 01:08
    +4

    I would strongly avoid this, i have a mate who made his own 2k to 700k+ throughout 5-6months. He withdraw 1k one time and they closed his account for breaking some regulation that I have not heard off nor did they explain what kind lol. So my mate ended up losing all his hard earn made money since they stopped replying to him.

    So guys! Don't use real money!!

    • Reveen on 03/06/2015 - 12:10

      I made some money out of their last offer, kept the profit in the account and it was subsequently debited via inactivity fees. Dodgy.

  • Diji1 on 03/06/2015 - 01:11
    +1

    What's next … binary options?

  • Cluster on 03/06/2015 - 01:24
    +2

    Be careful playing with products like this. Read the Terms and Conditions closely. Sometimes people get burned really badly when they buy a "bargain"

    For example, BrisConn:

    Retail investors loaded up on "bargain" shares without realising they were on the hook for a further $2 for each share. Many people lost homes.

    http://www.smh.com.au/business/brisconn-faces-13b-class-acti…

    "They had plunged to 0.1 cent by October and have remained around that level ever since.

    Many retail investors bought the units thinking they were getting a bargain, without realising that they would be required to pay a further $2 on each unit, making themselves liable for further payments up to 2000 times the value of their investment."

    Anyone thinking they can predict forex markets is lying to themselves. No one can predict the timing and severity of currency movements, such as the Swiss Franc vs Euro volatility earlier this year.

  • mrtin on 03/06/2015 - 06:08

    The general consensus is the majority of traders lose money over the long term. Statistics vary but the numbers are generally 85-95% of ppl will lose.
    Trading forex / derivatives is risky.

  • LoungeLizard on 03/06/2015 - 06:45
    +2

    This just screams "scam" to me. There ain't no such thing as a free lunch.

  • altomic on 03/06/2015 - 06:53
    +3

    Blue horseshoe loves Anicott steel.

  • [Deactivated] on 03/06/2015 - 07:16

    bit shameful to add ozbargain referal in the url when was posted by another guy, meh

  • Cheap Steve on 03/06/2015 - 07:20
    -5

    Gambling post. Let's get this rubbish off Ozbargain.

    • SydneySwan on 03/06/2015 - 08:39
      +1

      Absolutely agree. Ozbargain shouldn't be for nonsense like this.

      • cureforanitch on 03/06/2015 - 11:50
        +1

        Absolutely agree. Are we going to start seeing Sports Bet free sign up bonus with a bombardment of referral links littering the front page of this site soon?

    • brenwildman on 03/06/2015 - 12:14

      +1. Gambling rips people off (time, money, conscience, etc.) and is not a bargain!

  • rvsure on 03/06/2015 - 08:42
    +1

    Trading is addictive and I don't want to spend my time there losing money when I can spend time on Ozbargain and save money. I will pass. Nevertheless a find OP.

  • shortgum on 03/06/2015 - 08:57

    Call tis a deal make me laugh

  • HomeAlone on 03/06/2015 - 09:27
    +10

    2010

    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.

    2013

    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.

    2015 ITT

    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.

    You seem to have figured out a way to get to $75 every time so how about sharing that guide with us? :P

    • cmdwedge on 03/06/2015 - 10:24
      +1

      What the hell??

    • wazza23 on 03/06/2015 - 11:09
      -1

      Copy and paste, not obvious?

      • HomeAlone on 03/06/2015 - 11:12

        It is, but in the comments of 2013 post you also said this.

        Just simply copied and pasted my previous post because the only thing that changed was $25 -> $30

        If that's the only thing that changed then obviously that means that the rest didn't.

        So once again I'm asking for you to please share that guide with us on how to get to $75.

        If you didn't actually get to $75 then remove that part from the deal as it's not truthful and may mislead someone.

    • [Deactivated] on 03/06/2015 - 11:13
      +5

      I think this warrants a report for OP not mentioning affiliation?

    • KaTst3R on 03/06/2015 - 11:16
      +8

      Wazza23 looks dodgy. Could be employee of plus500.com trying to entice people into opening accounts and go into negative equity. We know how this business works…there is no free lunch in this world…

  • Bro-Die on 03/06/2015 - 10:36
    +1

    I can't find any option that lets me trade anywhere near $30…
    Forex trades seem to set to min $5000. What am I missing here?

  • KaTst3R on 03/06/2015 - 10:42
    +4

    According to Scam Advisor, this is a high risk site and there is a comment below which claims they defraud people, which is in line with what @piitaalaa said

    http://www.scamadviser.com/check-website/plus500.com

  • freakatronic on 03/06/2015 - 10:59
    +5

    This is not a bargain and not even a deal. Plus500 run this promo 24/7. It is literally always available. There are questions about free lunches, to be sure, but this isn't even a deal. As well as this, they're not the only dubious broker offering something that looks like free money. FXPrimus will match every dollar you put in your account up to $10000. Caesartrade will do similar. These promotions don't encourage planned, methodical, level headed trading. Rather they give the impression that the account holder is a "player" and that "having a punt" is OK in the markets.
    Wazza23 ought to be ashamed of himself, but it looks like he's been trying to hook suckers for years into having a dabble of forex. I doubt he has an ounce of shame left.

    • wazza23 on 03/06/2015 - 11:08
      -2

      Nobody is forcing you. If it's not what you're after, don't click.
      This is a way of people that may have been interested in forex to try it using real money that isn't theirs.

      Nowhere have I talked about depositing your own money.

      Shame on you for the allegations

      • freakatronic on 03/06/2015 - 13:17
        +6

        If it's not what I'm after?? You're enticing people to gamble for your own profit. You're no better than the TAB. I'll bear none of your shame. You're clearly a shill for plus500. I'm glad you replied, but you have an undisclosed affiliation here. This is not a deal or a bargain - it's just an offer that you repost yearly hoping for some more affiliate payments.

    • cureforanitch on 03/06/2015 - 11:57
      +8

      Well put freakatronic. This "bargain/deal" is an enticement to start gambling. The free money is the hook similar to other gambling bonus' sign up bonus. I think its quite obvious that wazza23 has some affiliation to Plus500, which he has not disclosed.

  • Pollywaffle on 03/06/2015 - 11:20

    Soy soy soy! Buy soy!

    http://i.imgur.com/Y6XvcEd.jpg

  • davlap on 03/06/2015 - 11:47
    +1

    Like any forms of trading, it is a gamble. Your super is the same and based on 'experts' losing it all instead of you.

    So, like any 'gambling' take care. Leverage doesn't seem to put you at any greater risk. Try demo mode. Put a stop position on and see what the profit/loss is. I just lost $5 on a $2000 leverage. AFAIK your deal is a % of the leveraged amount. The stops show you the profit/loss from the current trading position in $ when you set them up.

    In addition you can set up buy/sell alerts by email or text (although for me the text didn't work). You could then end the deal yourself if you want.

    Also does the following on their web site mean anything? Surely if Au based they are governed by regulation, so no more dodgy than any trading. Just you can do it without actually buying shares.
    "Plus500AU Pty Ltd, an Australian based company with its main offices located in the city of Sydney. The company is regulated by the Australian Securities and Investment Commission (ASIC) and is authorised to offer Contracts For Difference (CFD)."

    I am not in any way affiliated, just seems like a bit of fun. Its like those bingo sites that give free money on signup. When its gone, stop. Don't add any of your own.

  • cureforanitch on 03/06/2015 - 11:47
    +8

    Ozbargain, I'm disappointed. How is this any different to a betting websites signup bonus? The "worst case scenario" as stated is that you get hooked on the gambling nature of this type of scheme and pump more money in. Thats ultimately how this system works, and how they can justify giving away "free money".

    This "bargain" has been up for 15 hours now, and made it to the front page. Again, I'm disappointed.

    Neg from me

    • cureforanitch on 03/06/2015 - 12:01
      +5

      I thought this was a community that supported discouraging this type of thing (refer https://www.ozbargain.com.au/node/144353), not promoting it

    • lolmao on 03/06/2015 - 13:01
      +1

      I'm up $456 on my demo account! (leveraged $1,387,000)

    • Cheap Steve on 03/06/2015 - 17:22

      Agree, the mods are asleep at the wheel today.

  • ltompsonny on 03/06/2015 - 11:55
    +3

    Does anyone know how to close this plus500 account? Thanks!

    • jimbler on 03/06/2015 - 13:32

      Don't close it. You could become a millionaire overnight!

      • ChickenTalon on 04/06/2015 - 08:58

        You could become a ± millionaire overnight!

        fixed that for you

  • Cheap Steve on 03/06/2015 - 14:55
    +3

    Well done Ozbargain you've hit a new low today with this post. Sell.

  • gamemaster on 03/06/2015 - 14:59
    +4

    Early June 2015 Plus500 agreed to a $703 million bid from Playtech Plc in early June 2015. Playtech is an online gambling company that is expanding into trading.

    The company was acquired by online gaming company Playtech in June 2015 for a fee of $699 million.

    https://en.wikipedia.org/wiki/Plus500

    This deal is closer to online gambling than it is to sound investing.

    If an online gambling company owns Plus500, it says plenty about the gambling nature of the Forex market and this deal.

  • wozz on 03/06/2015 - 18:04
    +1

    As others have said, this screams scam. Especially considering always available

  • JetBombat on 03/06/2015 - 19:24
    +1

    Definetely not a deal

  • HingleMcCringleberry on 03/06/2015 - 21:40
    +1

    Looks like a scam to me, and points to major issues with the retailer. I've seen others get caught previously on similar platforms, so am negging to warn others.

  • klownz on 03/06/2015 - 22:05
    +1

    This is a terrible idea to introduce people to a instrument which is highly volatile, and add leverage, can decimate someones savings.

  • Willy Bargin on 03/06/2015 - 23:23

    FYI - since I have plus500 ny phone number I've been getting not stop spam call for forex and trading firm from UK and Asia . I'm pretty sure they sell your data

  • mehow on 04/06/2015 - 10:03
    +1

    This needs to be removed from ozbargain. Just encourages losing money, not saving it.

  • alex-t on 04/06/2015 - 10:43
    +1

    To get the 60 trader points you need to surrender $80 in the buy/sell price difference so you need a lot of luck. Not worth the effort, I got to $62 and only 15 points before losing it trying to get the points up.

  • johnwinkle on 04/06/2015 - 18:09
    +2

    i just lost my house, my job custody of my 2 kids and my knee caps shattered by 2 scary men in black after using this website

  • cr7 on 06/06/2015 - 00:09

    to withdraw money, it says i have to send them a picture of my license. Is this trading site safe? Is it safe for me to send it ?

  • j24bauer on 09/06/2015 - 10:18

    "WORST CASE SCENARIO: YOU LOSE THE FREE MONEY"

    Worst case scenario: you lose many multiples of the free money.

    Dangerously misleading.

  • Forenti on 12/06/2015 - 17:01

    I found out about Plus500 through this post and I was sceptical at first but I managed to withdraw $100 yesterday! I've gotten it up to $350 then I lost a bit but I still have $150 more to work with after the withdrawal.

    Just thought I'd give you my experience to compensate for all the people blindly calling it a scam.

    • wazza23 on 12/06/2015 - 19:09

      Good to hear, I had no problems withdrawing either

  • [Deactivated] on 15/06/2015 - 19:07

    I left an open trade on GBP/AUD and just logged in its over 100 dollars now … its asking for passport copy to withdraw? good idea ?

    • wazza23 on 15/06/2015 - 19:21
      +1

      I've not had a problem since giving them mine. Travelled overseas without a problem haha

      • [Deactivated] on 15/06/2015 - 19:26

        I tried to withdraw (I dont have paypal) tried 70 dollars via bank transfer it said minimum required to cash out was 266 dollars….

        so i dunno what now, i sent passport account is verified

        nevermind it works on paypal i just made a new email and its pending :)

        • Forenti on 15/06/2015 - 22:55
          +1

          Unfortunately it will probably get rejected :(
          Unless you have 60 trader points, you can't even withdraw the profits made from the bonus - I found out the hard way as well. Just do a whole bunch of trades (lasting longer than 2 minutes) to get up to your 60 points and you should be right. Keep in mind that if your positions are open for less than 2 minutes then you could be accused of scalping (taking advantage of minor inaccuracies of price).

        • [Deactivated] on 15/06/2015 - 23:27

          @Forenti:

          did they send an email to say the paypal withdraw was rejected to you? it said i was allowed to withdraw 70 AUD from the 100 odd I had 'made'

          its pending at the moment

          it said :available to cashout $70, Bonus: $22 (you require trade points to get this bonus)

          so do you think ill get the money i requested to cash out or will they decline it? im ok with not getting the bonus $22…

        • Forenti on 16/06/2015 - 08:52

          @ShinjukuJR:
          No you can't even get the money earned off the bonus. It let me try to withdraw too (as long as it was over $66 for PayPal) but I got an email after a few days saying it was rejected.

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