The past few months have been tough on the financial trading industry, with many watchdogs and financial institutions cracking down on regulated brokers with stricter rules to comply with in order to retain their license.
One of the major outcomes of the changes implemented is CySEC’s blanket ban on bonuses last November. Deposit bonuses were popular among CFD, Forex and binary brokers to entice traders and promote their platform. They proved an attractive feature for both brokers and traders alike, as the latter did not think twice about switching brokers according to whichever offered a higher bonus percentage on their deposits.
CySEC’s decision to implement the ban was taken in the best interests of traders and to “put a stop to the abuse of the honest, fair and professional principle which must govern firms’ operations”, according to their circular released on November 30th, 2016. This decision encouraged other EU regulators to take similar measures.
However, there are still some online gaming operators who have the advantage of offering traders a bonus, without breaking any of these regulations. BetOnFInance is one such example.This Danish operator is owned by Fibetco and licensed and regulated by Danish authorities as well as by Malta’s MGA and is one of the few platforms not affected by CySEC’s ban.
Although they do not offer trading on financial assets such as Forex and binary options, they do provide betting games that depend on the performance of such assets in the financial markets. They follow the same principles as in horse betting, the only difference being that people bet on stocks instead of horses, combining traditional betting with an internet trading platform. Moreover, traders bet against each other, not against the house and outcomes depend on underlying financial data rather than having the right hand, like in casino games.
BetOnFinance is currently offering all traders a $15 no deposit bonus until the 15th February. In this way, investors do not have to make a deposit to start betting and are not subjected to any risks, as is the case with traditional financial asset trading. In order to benefit from this offer traders simply have to enter the bonus code helloBoF17 and the bonus will be awarded instantly.