The Forex Zone forum pays out for some of it's contests & promotions in the form of trading money into member's trading accounts. Here are the details about such transfers. Any changes or clarifications will always be reflected in this 1st post.
The following brokers allow for direct transfers from IB (eg. Forex Zone) account balance into the referral's (eg. you) trading account:
FxOpen,
FxGlory, and
Kinesis.
The following broker can only be deposited from Forex Zone using Crypto:
LMFX and
XM .
Important Notes:- You must have an account opened through the links provided. The account must show up as a referred account or funds won't be transferred.
- Accounts should be verified by passing the broker's full KYC requirements. It is a one-time process. You may be asked for proof (eg. screenshot) showing you have passed their full KYC procedure if you have not already done this.
- The same trading account can be used for different forum contests & promotions. So it is recommended to have your trading account ready since there are multiple ways of winning from this forum. Getting your account opened and ready is a one-time process that may have long-lasting benefits.
- These contests & promotions are operated by the Forex Zone forum and are completely independent from the brokers. Do not contact the brokers with any questions or concerns since it will be a waste of time. Send all questions or concerns about Forex Zone contests & promotions to the Forex Zone administration or post them on this forum.
PLEASE READ:Most brokers do not want to be considered as money exchange services. They must also follow regulations. Therefore, since funds are being transferred from a different person (eg. Forex Zone) other than the account holder's name, the brokers have additional rules for withdrawals. It by no means they are a scam. Below are the rules for each broker.
FXOpen - If profit is made, the original funds from Forex Zone must be returned back. Then all profit can be withdrawn like normal.
Example: Forex Zone transfers $100 to your account. You trade with this money and profit $50. You decide to stop trading and want to withdraw profit. You transfer the original $100 back. Then you can withdraw all profit as you normally would to your own personal wallet or payment service.
FxGlory - If profit is made, the original funds from Forex Zone and also the profit must be returned back.
Example: Forex Zone transfers $100 to your account. You trade with this money and profit $50. You decide to stop trading and want to withdraw profit. You transfer the original $100 you got for free PLUS the profit you want to withdraw back to Forex Zone. You will then receive the profit from Forex Zone directly by Bitcoin or Burst (contact Admin by PM to arrange this).
LMFX- There are no known restrictions on withdrawing trading money or profit.
Kinesis - There are no known restrictions on withdrawing trading money or profit.
XM - There are no known restrictions on withdrawing trading money or profit.
Note for FxGlory and FxOpen only: If original contest/promotion funds are sent back to Forex Zone, they will not be returned back to you. It is a one-time event per contest/promotion. Unless you win another contest/promotion then the process can start again. So you can keep trading with the money as long as you like. Whenever you are ready to cash out, the process is done.
Note for LMFX and XM only: These brokers do not have account-to-account transfer functionality. So deposits will be made to these brokers using cryptocurrency. Therefore, your unique deposit address will be needed to make the deposit. You must copy/paste your unique deposit address exactly as provided by the broker. You will also need to send a screenshot from within your back-office which shows this unique deposit address.
To summarize: The Forex Zone forum allows you to get free trading money with
NO RISK. If you profit after trading,
YOU ALWAYS KEEP ALL THE PROFIT.
Linkback: https://www.forex.zone/forex-contests/28/forex-zone-transfers-to-brokers/2276/