Want to earn money with binary trading?
Thinking about benefiting from Cedar Finance’s bonus promotion?
Think again, that free money you are seemingly getting might hold up all your investment funds. Understand the fine print behind this bogus marketing scheme and avoid another Cedar Finance scam.
Cedar Finance Bonus Promotion
Don’t make the mistake of opening an account with Cedar Finance, and avoid getting tangled up with this binary options broker all together. Our Home Page article explains some of the issues surrounding this company, and more importantly, point you in the right direction, of professional brokers that actually improve your trading abilities and help you earn more money.
Now we want you to understand how the bonus offered by Cedar Finance influences your ability to withdraw your profits.
Cedar Finance offer three levels of bonus percentages:
- Bronze, which awards a 30% bonus
- Silver, which awards a 50% bonus
- Gold, which awards a 75% bonus
That bonus is basically an additional amount of money added to your account. Obviously, that seems to be a very generous offer. Using the Silver package as an example, traders opening an account with Cedar Finance and making a $1,000 deposit would have an extra $500 transferred to their account.
Now, instead of trading with one thousand dollars, they can trade with 1,500. But of course, there is a catch. A huge one.
The Scam behind the bonus offer
The Terms and Conditions page at the Cedar Finance site do mention the basic conditions that govern this forged promotion. There, buried somewhere in the middle of thousands of words is a statement that explains what a trader needs to do in order to withdraw funds after being given a bonus.
The requirement is that clients trade in values that are 30 times the amount of the bonus, before they can see a penny of their money.
Here is an example of how this breaks down in numbers. A trader makes a $1,000 deposit and receives and $500 bonus. He then performs 10 trades, each at a value of 100 dollars. So essentially, this customer has not even used the bonus money.
For the sake of the example, this trader accurately predicts 7 binary options trades, and errs the other 3, which at a payout rate of 81% leaves the account with 1,267 dollars, besides the bonus money.
If such clients now want to withdraw the 267 dollars they earned,fair and square, they simply can’t. So far, they have trader a total amount of $1,000 dollars (ten 100 dollar trades) which is way less than the required 500 x 30 (the amount of the bonus time thirty), or FIFTEEN THOUSAND DOLLARS!!
Obviously, this is a scam, which has two basic purposes:
- To induce traders to deposit larger amounts (with the promise of a larger bonus)
- To cause traders to lose their money before they are able to withdraw any profits
Real binary options bonuses
While Cedar Finance offer a bonus with the intent of harming your chance of success, serious binary brokers offer you real tools and advantages.
OptionBit offer the new and advanced signals trading service, Algobit, for free. Similar binary options signal systems can cost up to 300 dollars a month, a none are as innovative and easy to use as Algobit.
EZTrader and Global Option offer amazing instructional tools, videos, one-on-one trading sessions and downloadable ebooks, all crafted and delivered by expert financial advisors.
There is no need to risk you money with Cedar Finance when the market offers you better, safer and proven companies with which to profit.
Cedar Finance Bonus Scam – Summary
- Hidden behind an apparent generous promotion is another Cedar Finance scam
- The Cedar Finance bonus is indeed a real cash deposit made to your account, but one that freezes your ability to withdraw monies
- The three levels of account packages created by Cedar Finance, Gold, Silver and Bronze, are a small detail in a scheme, aimed at increasing the average deposit made by clients
- The fine print of the Client vs. Site agreement reveals that customer who wish to withdraw money may only do so after trading values at an amount of 30 times the worth of the bonus
- Since the bonus is calculated percentually according to the initial deposit, clients who think they are being rewarded for making a larger deposit are actually being limited more severely than those who deposited smaller amounts
- This shows how well planned this marketing plot functions, since it not only helps in convincing clients to invest more, but also the more the clients invest, the more their money is held hostage by Cedar Finance
- Avoid the Cedar Finance bonus, and more so, refrain from investing with this binary broker altogether