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April 15, 2016

Question:LMFX 100% Deposit Bonus is deducted from MT4 account. Why did this happen?

Answer:

There are always some conditions or requirements you will need to follow in order to benefit from bonus promotions.

LMFX may cancel all the bonus amount(LMFX 100% Deposit Bonus) if:

  1. You have withdrawn or transfer internally from the account
  2. The account balance goes below the bonus amount

LMFX Official Website

Withdrawal Conditions of the promotion

You will need to trade certain lots set by LMFX in order to withdraw the bonus amount.

Please note that you can withdraw your deposit amount and the profit amount at anytime, but still the bonus amount will be deducted from your account if you have not met the requirement.

The required trading lots = The Bonus amount(USD)/2

This condition is applicable for all account types.

You can withdraw the Deposited amount first then the Bonus

For traders who are thinking to trade arbitrage by abusing this 100% Deposit Bonus, arbitrage trading is not allowed by LMFX.

Also in case you have received the bonus amount and you have made some losses in the account, the loss will be deducted from the deposited amount but not from the bonus amount.

e.g.

  1. You make a deposit of 100 USD and receive 100 USD as a bonus.
  2. Make a loss of 50 USD.
  3. In the account, you will have 100 USD of bonus and 50 USD of you fund itself.

Also if you lost all the originally deposited funds from the account, the bonus amount will be deducted from the accounts.

You cannot lose the Bonus amount

By receiving the bonus, you will not able to lose more than you deposit.

Meaning that if you lose half the account balance, the system of LMFX will automatically deduct the bonus amount too.

So if you have not met the trading lot requirement and released the bonus amount in your account yet, you are not allowed to lose the bonus amount but the bonus amount can only be used for trading purpose.

If you have fulfilled the requirement and released the bonus already, you are allowed to use the full bonus amount for trading and withdraw at anytime.

LMFX Official Website

Checking the trading lots progress

If you are not sure about how many lots you have traded before, you can go to LMFXConnect and find out the trading lots calculated for the promotions.

In this case, please go to the “Profile” in LMFXConnect.

LMFX connect profile bonus trading lots

Then go to “Phone Verification”.

LMFXconnect bonus trading lot progress

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