BONUS TERMS AND CONDITIONS
1. Purpose of the Bonus
The Bonus Amount credited to a Client’s trading account is intended to provide additional trading leverage. While these funds may be utilised for trading purposes, the Bonus Amount itself is not eligible for immediate withdrawal.
2. Withdrawal of the Bonus Amount
To become eligible for withdrawal of the Bonus Amount, the Client must first meet a specified level of trading activity, known as the “Required Qualifying Volume”. The Bonus may only be withdrawn once this trading threshold has been met in full.
3. Definition and Calculation of Required Qualifying Volume
To become eligible for withdrawal of the Bonus Amount, the Client must complete a specified level of trading activity, referred to as the Required Qualifying Volume.
3.1. What is “Required Qualifying Volume”?
Required Qualifying volume refers to the total amount of trading activity that the Client needs to complete in order to be eligible to withdraw the Bonus Amount.
It is important to note that this requirement relates to the volume of trades, not the account balance. The total can be achieved through multiple smaller trades, as it is the cumulative trading activity that is measured.
3.2. How is “Qualifying Volume” Calculated?
The required trading volume is calculated using the following formula:
(Deposit + Bonus) × 20 000 = Required Qualifying Volume
Example:
If a Client deposits $1 000 and receives a $1 000 bonus, the required Qualifying Volume would be:
($1 000 + $1 000) × 20000 = $40 000 000 in cumulative trading volume.
Important Notes:
• The Client is not required to have $40 million in the account.
• The requirement is based on total trade size over time.
• Smaller trades may be used to reach the cumulative volume.
3.3. Additional Examples for Illustration
Example 1 – Forex (USD/ZAR):
Client Deposit: R 15 350
Bonus (assuming 30% of the deposit amount): 30% x R 15 350 = R 4 605
Required Volume: (Deposit + Bonus) x 20,000 = R 399 100 000
Reg No:2021/883859/07 FSP NO: 52110
1 Standard Lot USD/ZAR has a notional volume of R 1 500 000 ($100 000)
Accordingly, a Client would need to place 133 trades of this size to reach the Required Volume
Example 2 – Stocks / Indices – Johannesburg Stock Exchange (JSE):
Client Deposit: R 15 350
Bonus (assuming 30% of the deposit amount): 30% x R 15 350 = R 4 605
Required Volume: (Deposit + Bonus) x 20 000 =R 399 100 000
1 Standard Lot of JSE has a notional volume of R 6 375 925 ($415 365).
Accordingly, a Client would need to place 32 trades of this size to reach the Required Volume.
3.4. Failure to Meet the Required Volume
If the Required Qualifying Volume is not achieved, the Company reserves the right, at its sole discretion, to cancel and remove the Bonus from the Account without prior notice.
4. Withdrawal of Profits and Available Balance
The Client may withdraw any profits available in their withdrawable balance, including profits generated from trades executed using bonus funds. However, the Client acknowledges that should any profits be withdrawn during the Bonus Validity Period of 90 (Ninety) days, the Company reserves the right to remove the Bonus Amount from the Client’s trading account. This right may be exercised without prior notice at the Company’s sole discretion. Furthermore, the Company emphasises that any withdrawal from the Account during the Bonus Validity Period of 90 (Ninety) days may result in the Bonus being removed at the Company’s sole discretion.
5. Stop Out and Zero / Negative Balance Events
In the event that the Client’s trading account reaches the Stop Out level – where open positions are automatically closed by the trading platform due to insufficient margin – or if the Available Balance of the account falls to zero or becomes negative, the Bonus Amount credited to the account may be subject to removal.
The Company reserves the right to remove the Bonus Amount within a period of up to 24 (twenty-four) hours following the occurrence of such events. By accepting these Bonus Terms, the Client acknowledges and agrees that, in such circumstances, the Bonus Amount will no longer be available for trading or withdrawal.
6. Bonus Validity Period
The Client acknowledges that the Bonus Amount remains valid for a period of 90 (Ninety) days from the date it is credited to the Client’s trading account. If the Required Qualifying Volume is not achieved within this timeframe, the Bonus will expire automatically and be removed from the account without prior notice.
7. Consequences of Bonus Removal
The Client acknowledges and accepts that the removal of the Bonus, whether due to the expiry of the Bonus Validity Period, the submission of a withdrawal request, failure to meet the Required Qualifying Volume, or any other reason, may have a direct impact on the Account. This may include, but is not limited to, the automatic closure of open trading positions or a reduction in available margin.
The Client agrees that the Company shall bear no liability for any adverse outcomes resulting from the removal or cancellation of the Bonus, including, without limitation, order closures due to stop-out or any related trading effects.
8. Fraudulent Activity and Abuse
In the event that the Company has reasonable grounds to suspect any fraud, manipulation, cash-back arbitrage, and/or any other form of deceitful, fraudulent and/or abusive trading activity by the Client (“Fraudulent Activity”), the Company reserves the right, at its sole discretion, to take one or more of the following actions without prior notice:
8.1. Cancel the Bonus and/or any trades associated with the Account, including any resulting profits or losses;
8.2. Terminate the Client’s access to the Company’s services and end the commercial relationship;
8.3. Block or permanently disable the Client’s trading account.
The Company shall not be held liable for any consequences or losses incurred by the Client as a result of these measures.
9. Amendments to Bonus Terms
The Company reserves the right to amend, update, or cancel these Bonus Terms at any time and for any reason, at its sole discretion. Any such changes will be effective immediately upon publication on the Company’s official website or by the removal of the Bonus Terms from the Website.
The Client remains solely responsible for reviewing and complying with the most recent version of the Bonus Terms. The Company shall not be liable for any failure by the Client to act in accordance with these Terms or any modifications made thereto.