10k Qantas Points for $1k Deposit and 5 FX Trades on Forex Site Pepperstone

77

Go to Deal

PPete Gabitas on 08/02/2017 - 08:39 pepperstone.com (196 clicks)
Last edited 08/02/2017 - 13:29 by 1 other user

Got an email telling me if I signed up to FX trading site Pepperstone I'd get the following:

20 bonus Qantas Points per Forex lot traded up to a maximum of 50,000 bonus Qantas Points during the promotional period*

10 Qantas Points per AUD$1 deposited on their initial deposit up to a maximum of 100,000 Qantas Points*

However when I went to the website it turned out to be only up to a maximum of 10,000 Qantas Points.

Still I presmume I can deposit $1k then withdraw it once I get the points. Not bad.

EDIT: Looks like you need to do 5 FX trades to get the bonus - not so good after all.

More info here: https://pepperstone.com/en/partnerships/qantas-faq

"The First Deposit Offer is to earn 10 Qantas Points per AU$1 deposited into the individual Pepperstone trading account, up to a maximum of 10,000 Qantas Points, on an Eligible Client’s first deposit, subject to the following conditions: This offer is only available to new Eligible Clients who have not previously held a funded trading account at Pepperstone. Eligible Clients must trade 5 full FX lots on Major currency pairs (AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY), Minor currency pairs (AUDCAD, AUDCHF, AUDNZD, AUDSGD, EURAUD, EURCHF, EURGBP, GBPAUD, GBPCHF, NZDUSD) or Crosses (CADCHF, EURCAD, EURNZD, GBPCAD, GBPNZD, USDCAD, AUDJPY, CADJPY, CHFJPY, EURJPY, GBPJPY, NZDJPY), excluding Exotics, Commodities, Indices and Futures, as defined here. Qantas Points earned on the First Deposit Offer will be allocated at the beginning of the subsequent calendar month, a minimum of thirty (30) days after the fifth (5th) full FX lot is traded - which is essentially the start of the month, two calendar months after you close your 5th full FX lot."

Mod: Please note that Forex trading can be risky. See professional advice from a financial adviser.

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  Wootwootwoot on 08/02/2017 - 08:50

  Shouldnt the title be 100k deposit for 10k deposit?

  • 

    Pete Gabitas on 08/02/2017 - 09:14

    The website says 10K I believe. If it does turn out to be 100k I'm happy to change it.

    • 

      Wootwootwoot on 08/02/2017 - 13:14

      Check the website again, it says 100k points for me

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  Turd on 08/02/2017 - 08:51

  Targeted?

  No it isnt

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  Turd on 08/02/2017 - 08:53

  +1

  Eligible clients must trade 5 full FX lots on Major currency pairs

  So you must trade I'm order to get the points.

  Not a good deal imo

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  godzilla123 on 08/02/2017 - 08:54

  Seems you will need to trade 5 full fx lots as a requirement for the FF points:

  "The First Deposit Offer is to earn 10 Qantas Points per AU$1 deposited into the individual Pepperstone trading account, up to a maximum of 10,000 Qantas Points, on an Eligible Client’s first deposit, subject to the following conditions: This offer is only available to new Eligible Clients who have not previously held a funded trading account at Pepperstone. Eligible Clients must trade 5 full FX lots on Major currency pairs (AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY), Minor currency pairs (AUDCAD, AUDCHF, AUDNZD, AUDSGD, EURAUD, EURCHF, EURGBP, GBPAUD, GBPCHF, NZDUSD) or Crosses (CADCHF, EURCAD, EURNZD, GBPCAD, GBPNZD, USDCAD, AUDJPY, CADJPY, CHFJPY, EURJPY, GBPJPY, NZDJPY), excluding Exotics, Commodities, Indices and Futures, as defined here. Qantas Points earned on the First Deposit Offer will be allocated at the beginning of the subsequent calendar month, a minimum of thirty (30) days after the fifth (5th) full FX lot is traded - which is essentially the start of the month, two calendar months after you close your 5th full FX lot."

  • 

    Pete Gabitas on 08/02/2017 - 09:18

    Yep, well spotted. Edited the OP.

  • 

    Wills7 on 08/02/2017 - 09:39

    Anyone know how much in AUD is considered a full fx lot trade?

    • 

      kefa on 08/02/2017 - 09:53

      A$100,000 I believe
      https://www.pepperstone.com/en/forex-trading/razor-ecn

      • 

        team teri on 08/02/2017 - 10:26

        Trade a 100k on a 1k deposit? Oanda has a max factor 50 leverage. Not sure about this mob. Unless you want to trade anyway this is no deal. The spread will almost wipe out the value of the QF points.

      • 

        noxas on 08/02/2017 - 11:02

        @team teri: 1pip movement on a full size lot would be 10 bucks. Average range of currency maybe 50pips/day? That would translate to +500 or -500 per day. On an event day, the volatility would be big enough to wipe out your deposit and force you to get out at undesirable price.

      • 

        team teri on 08/02/2017 - 11:58

        +1

        @noxas: yes, that's why this is no deal. Even if you just get in an out instantly and have no movement, depending on currency pair and volatility the spread would cost you on average perhaps 15 bucks a trade. 5 trades you've given them 75 bucks. That's more than 10k QF points are worth to me.

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  huu on 08/02/2017 - 09:43

  Can anyone here confirm that they actially make money with forex? I have tried quite a few companies. Open 2 accounts, (one trial and one real) make identical trades the trial makes money the real account lost money

  • 

    nightelves on 08/02/2017 - 09:56

    +2

    Stick to the trial account

  • 

    kefa on 08/02/2017 - 09:57

    is it because in the real account you need to pay commissions?

  • 

    nietzsche bargain on 08/02/2017 - 10:05

    +2

    The house always wins! forex players are so confident that customers like yourself will lose (on average and in aggregate) that they actively take positions against the customer base.

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    team teri on 08/02/2017 - 10:27

    Identical trades? Executed at exactly the same time?

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      huu on 08/02/2017 - 10:42

      yes as close as humanly possible, wouldn't be much of a benchmark if iplace one trade while movent is up and that other while movement is down. even if there is a
      slight discrepancy in time of trade why is it the trial wins? shouldnt it be more randomly distributed? my point is within the same time period we have 2 opposing movements for same currency pair.

    • 

      points4life on 08/02/2017 - 15:02

      You will still lose on the spread. On a 1 lot that might be around 50 bucks or more depending on how slow your connection is.

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  abc on 08/02/2017 - 10:03

  Unless you know what you are doing this isn't a deal :)

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  richreduk on 08/02/2017 - 11:59

  Agreed. Way too complicated to a simpleton like me. No deal IMHO

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  points4life on 08/02/2017 - 12:24

  Good luck trading $500,000, turning a profit and collecting your 10k QFF. All the odds are stacked against you. Potentially the most expensive frequent flyer points you will ever buy :D
  For this reason this gets a neg from me!

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  pegaxs on 08/02/2017 - 12:42

  +3

  Forex trading is just another form of gambling, just dressed up as something other than what it is. Seems like a massive risk for not much gain.

  I gotta neg this because no matter what the deal is, Forex trading is gambling and thus by its nature, the house always wins and that isn't a deal and is shady at best.

  What next? Pokies websites offering Qantas FF points of you deposit X amount and turn over Y amount…

  InB4 haters hatin'.

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  prolo on 08/02/2017 - 19:31

  What's next, Sports Bet promos?

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  thefreelunch on 09/02/2017 - 07:24

  I can't believe Qantas is promoting fx trading to the general public with this "offer". Highly dangerous.

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  kefa on 21/02/2017 - 09:16

  Got another one of these emails and got me thinking again. If I deposit $10k I can potentially get 100,000 QFF. All I need to do is trade in and out 6 times that might cost me ~$21 and I get 100,000 points. Sounds like a good deal though with some risk. Any takers?