[Expired] IG Trading (Forex Trading Platform): Up To $5,000 Bonus [OH Excluded]

The Offer

Direct link to offer

  • IG trading (a forex trading platform) is offering up to a $5,000 bonus when you open a new account.
    • Deposit $500 and place your first trade = $250 bonus
    • Deposit $5,000 and open 100 lots = $1,000 bonus
    • Deposit $50,000 and open 300 lots = $5,000 bonus

Our Verdict

Reader Shawntheshawn goes into some detail on completing this deal. Seems like only really the $250 bonus is worth doing and even then probably not worth it for most people. Seems to be similar to the Nadex deal where you can lock in some profit.

Hat tip to ShawntheShawn
    William Charles
  • On November 22, 2022, 13:00

View Comments (234)

  • @2 The above link is dead. Similar offer is available under their new name here: https://www.tastyfx.com/forex-trading-bonus/

    Bonus seems to pay per lot traded within 30d, max bonus is $10k, funding must be made within 10d.
    Tiers-
    $250 funding, get $5 per lot
    $1k funding, get $8 per lot
    $5k funding, get $10 per lot

    Note: pairs ZAR/JPY SEK/JPY NOK/SEK NOK/JPY MXN/JPY TRY/JPY PLN/JPY CNH/JPY excluded

    The key question is what is the risk of loss per lot traded?

  • Received the following email:

    "IG US will change its name to tastyfx on Monday, June 24th. We will notify you of the official change at that time. You can continue to access your account as usual. On June 24th, you may be redirected to our new website, platform, and mobile app—please use your existing account details to login and enjoy our new resources. "

    @2

    • I wonder if this will allow people who signed up under IG to churn? @guest_1861555

        • I am not sure, but I think most likely it won't work as it looks like they have transferred all customer data to the new platform. @guest_1861555

  • I wonder if one already received the bonus for one tier of the promotion, if they can get the bonus for another tier?
    example:
    Deposit $5,000 and open 100 lots = $1,000 bonus - bonus received
    Deposit $50,000 and open 300 lots = $5,000 bonus - can I still get this bonus?

    • No. Only the initial deposit counts for the promo. Subsequent deposits don't accumulate for the purposes of the promo.

  • @chucksithe @will The $5,000 bonus is also a good deal for those willing to make several hundred clicks on a weekday. I just did it in one day and confirmed that I will get the $5,000 bonus with CSRs. Deposit $50k and trade 300 lots of the currency pairs with the lowest stop losses (in ascending order of stop loss for a trade of 1 standard lot: SEK/JPY ($7 stop loss), NOK/JPY ($7 stop loss), USD/HKD ($13 stop loss), AUD/JPY ($14 stop loss), MXN/JPY ($14 stop loss), and USD/JPY ($14 stop loss--most liquid so far).

    You can trade any of these pairs, but the first two will yield a profit of $5,000 - $2,100 = $2,900 assuming the stop loss is triggered for every trade. I traded USD/JPY mostly (since it is currently in an uptrend and most liquid) and actually made a profit of $487 on the 300 lots. Profited on about 70% of them. The great thing about it is at least $2,100 is guaranteed if you set the minimum stop loss each trade (unless, they say, the market moves quickly or gaps, which it never did for me--stop loss was always triggered if I was wrong). The worst currency pairs above for this bonus will yield a profit of $5,000 - $4,200 = $800. Also for the $1,000 bonus for $5k deposit, only the lowest stop loss pairs would be worth it and would yield a profit of $1,000 - $700 = $300 because it requires 100 lots. Anyone with the time and ability to focus on this will do well. My bonus + profit is $5,487.

    • Thanks @guest_1640815 . I wish I saw this post and your comment earlier. It looks like IG changed the requirements to 500 lots and excluded the currency pairs that have lower stop losses requirements ( ZAR/JPY SEK/JPY NOK/SEK NOK/JPY MXN/JPY TRY/JPY PLN/JPY CNH/JPY). Now the lowest stop loss I can find is around $13, and with 500 lots the loss would be $13x500=$6500, which exceeds the $5000 bonus.

      • @guest_1665893 I withdrew the $50k deposit a few days later but left the profit. The terms didn't require you to park the deposit there from what I could tell.

    • @guest_1640815 Props to you for going for it and making it work! Approximately how many trades did you have to perform altogether?

      • @guest_1495823 Thanks! I did it in 30 trades of 10 lots each. Also did a few more 1 lot size trades a couple weeks later when the BOJ announced the end of the YCC program to make the account appear at least occasionally active

  • Late Feb: Opened, deposit
    Early March: Trade usd/jpy, lost a cent
    Mid Apr: 250 (little over a month), no prob withdrawing everything via ACH

    9/10 would do again

    • Even if they did, it's not worth listing anything less than 50 cents. The tax software will round it down to zero.

  • completed 1/11/23
    called 4/4/23 and told I did qualify and would be paid out mid month

Leave a Comment