... ive been using this method for about 2.5 years...
Apparently it's a proven system.
In another bank, I made 50% in only 3 months... although that was non recurring... meaning i couldn-t do it over and over.
This time, this bank was making apromotion on its brokerage trading services... ''Fund your account with 500 euros and well give you 300 euros as a bonus... ''
of course there was a caveat... minimum period of having funds there was 3 months and you had to make at least 5 transactions in the FOREX market.
So I signed myself up ... my mother... my father... my brother... my stepdad... and so on... you get the idea... to the total of 13 people... it was really easy because it was an online bank.
I funded all the accounts myself... waited until the last day. There were two approaches here. I could either invest 50000 monetary units for each transaction and forfeit the transaction fee of 5 dollars or i could use the minimum transaction amount of 500 units per transaction and pay a 5 dollar fee per transaction.
I figured Id be better paying the transaction fee by buying 4 times 500 unites and then selling 2000 units of EURUSD at once totalling the 5 transactions and paying 20 dollars in fees.
If I had gone towards the free fee minimum amount Id have 50000 units each time... and even if I sold 5 seconds after I was always exposed to the spread of the EURUSD currency plus the market exposure where each pip = or each 0.0001 movement equaled 5 dollars - a currency easily moves 5 pips each second or two seconds so this would expose me to 25 dollars per transaction of probably more if volatility was higher...
So I ended up choosing paying the fee only and making transactions of 500 units where even if the EURUSD had moved 50 pips it wouldnt make a dent.
End result about 280 dollars x 13 ... in 3 months!
I did this and a colleague of mine did it with 20 of his family members... of course the next promotion the bank did, probably because of us... they tightened the rules much more... instead of 3 months it was now 9 months... and the bonus was only 100 dollars... not worth it in my opinion