I received this email from Qantas a few days offering the following:
New eligible Pepperstone clients can earn:
20 bonus Qantas Points per Forex lot traded up to a maximum of 50,000 bonus Qantas Points during the promotional period*
10 Qantas Points per AUD$1 deposited on their initial deposit up to a maximum of 100,000 Qantas Points*
The part that really caught my eye was the second point. Does this mean I could deposit $10k into a new Pepperstone account, receive 100,000 Qantas Points, and then withdraw the $10k? I had a look at the fine print and there doesn’t seem to be anything stating the funds have to be used prior to withdrawal, or that there is a requirement to turn the funds over before receiving the points.
Curious as to whether anyone else has taken advantage of this, or if there’s something obvious that I’m missing?
Strangely when I looked on the pepperstone website T&Cs, it states you can earn only 10,000 Qantas points, and only if you complete 5 forex trades, after which it will take 30 days to credit your points. Seems risky…check it out here
First Deposit Offer
The First Deposit Offer is to earn 10 Qantas Points per AU$1 deposited into the individual Pepperstone trading account, up to a maximum of 10,000 Qantas Points
Eligible Clients must trade 5 full FX lots on Major currency pairs…
Qantas Points earned on the First Deposit Offer will be allocated at the beginning of the subsequent calendar month, a minimum of thirty (30) days after the fifth full FX lot is traded.
FX trading is a gamble and it seems strange that Qantas is pushing points in this situation. However maybe you are an experienced financial analyst who knows what they are doing in this field… i know I’m certainly not.
Hope some of that may help
Thanks Tom, that has been really helpful! I signed up to Pepperstone after reading that email thinking the same thing - that I could just deposit $10,000 and then withdraw that money without having to do 5 full trades.
I think it’s misleading advertising by Qantas to have that kind of email campaign without specifying the finer details of having to execute 5 full trades in a month.