FCA and CySEC regulated Retail Forex broker AFX Capital has introduced a 10% interest on client deposits promotion, in its SuperTradingOnline (STO) unit.
The AFX / SuperTradingOnline promotion follows several other similar offers we’ve reported on, although none in quite some time. (Examples include Alpari, as a promotional tool following the bankruptcy of its Alpari UK unit in early 2015, and Australian broker AxiTrader).
With interest rates hovering near all-time lows, and retail traders’ cash earning next to nothing in the bank, bonus interest offers seem to ring a bell with certain segments of traders, even when strings are attached to the offer.
As with those other promotions, AFX Capital’s offer comes with certain requirements and restrictions. To be eligible for the interest promotion of 0.83% monthly, SuperTradingOnline clients must:
- maintain month-opening balances of at least $10,000 / €10,000 in their accounts, and
- generate a minimum monthly volume of 0.6 lots per 1,000 EUR/USD on deposit.
The 10% interest promotion at STO begins on March 1 and runs through the end of 2016. It is available both to new and existing STO Clients, under CySEC regulation only. The promotion excludes China. Participants can apply the promotion to only one account.
For more information click here, and for more on the promotion terms and conditions click here (pdf).