Hello Daytrading.com community,

I’m looking for some guidance on trading bonuses because I’ve noticed a few firms offer welcome bonuses that you can claim when you sign up. Baxia is one case where you can get a 30 USD welcome bonus.

But I read the terms and conditions and it says you can’t withdraw it. What do people think about this set up? Are these bonus deals worth it or not?

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[Del]

I don’t bother with trading bonuses at all. Nobody gives you something for ‘free’.

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[James BarraModerator DayTrading.com Team]

Hi ActiveTraderx50,

I have seen dozens of trading bonuses offered like this over the years and spent countless hours reading their T&Cs.

They can be an attractive way to get free trading credit, allowing you to practice setups etc, but it’s important you don’t let them encourage excessive trading and over leveraging.

It’s always worth reading the terms. As you said, bonuses often can’t be withdrawn, or you have to meet substantial trading volumes first.

The final thing I would highlight is that trading bonuses aren’t typically permitted in many tightly regulated jurisdictions, such as the UK, Europe and Australia. This is largely because they can incentivise risky trading practices.

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[Christian HarrisParticipant]

I agree with the comments above.

Trading bonuses are a red flag. Be careful.

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[FreddieFutures]

I don’t trust joining bonuses and I don’t trust platforms that offer trading bonuses.

Just me view.

Freddie

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[John]

I use them as an opportunity to test my day trading strategies, much like you would in a simulator.

You have to be disciplined though. Don’t start leaving trades open longer than you would normally. Treat it as if it’s real money and don’t expect to see it in your bank account at the end.

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[Author]

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