How LiteForex bonus works! For those who don't know the math!
Refer to
LiteForex returns Bonus 30% for the 30% bonus promotion from LiteForex
You will rewarded with $150 bonus with $500 initial deposit.
In order to withdraw the bonus, you have to trade 45 lots before you can withdraw your bonus.
As mentioned from Mr Shuvalov regarding the bonus cheating method,
We will open 2 account.
One account is buy & another account is sell.
here is the example
Cheapest Spread Currency Pair = EURUSD, 3 pips
Account Type: Real Account
Highest Leverage = 1:500
Account Currency = EUR
Account A - Buy
Initial Deposit: $500
Bonus: $150
Total: $650
For 100% margin level with 1:500 leverage, we can open 3.75 lots with margin of $650.
Spread for 3.75 lots: $83.612
Spread for 45 lots: (45 / 3.75) X $83.612 = $1003.344
Account B - Sell
Initial Deposit: $500
Bonus: $150
Total: $650
For 100% margin level with 1:500 leverage, we can open 3.75 lots with margin of $650.
Spread for 3.75 lots: $83.612
Spread for 45 lots: (45 / 3.75) X $83.612 = $1003.344
Total
Initial Deposit for Account A & Acccount B: $500 + $500 = $1000
Bonus for Account A & Acccount B: $150 + $150 = $300
Spread for Account A & Acccount B: $1003.344 + $1003.344 = $2006.688
In order for a person to withdraw the bonus, he/she need to spend $2006.688 for spread payment. The Margin (Initial Deposit + Bonus) is less than spread payment. The conclusion is the bonus cheating method as described by Mr Shuvalov is
unfeasible & unachievable.
Margin (Initial Deposit + Bonus) < Spread
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