Australia "Pro Trading Credit" Program
Australia "Pro Trading Credit" Program
- You agree that by participating in the City Index Pro Trading Credit Program (the “Program”) you will be bound by these terms and conditions (the “Program Terms”) as well as the general terms and conditions (including any supplemental terms) that apply to your account (as identified above) (“Our Terms”). Capitalised terms and expressions used in these Program Terms shall have the same meaning as in Our Terms unless specified otherwise in the Program Terms.
- The Program is offered by City Index (“City Index”, “we”, “our” or “us”) in accordance with these Program Terms. City Index is a trading name of StoneX Financial Pty Ltd, a company incorporated under the laws of Australia and having its address at Suite 28.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646).
- Subject to paragraph 16 below, to be eligible to participate in the Program, you must:
- a) be over eighteen (18) years of age;
- b) be either:
- i. an existing professional client with another broker (and be able to provide supporting evidence), a new, non-existing client and open a live City Index Australia Professional trading account during the Qualifying Period; or
- ii. an existing professional client with City Index Australia, have received an email invitation to participate in the Program and opted-in during the Qualifying Period
- The “Qualifying Period” commences on 1 July 2021 and will cease on 31 December 2021.
- The “Program Period” commences on 30 July 2021 and will cease on 31 December 2022. The key dates of the Promotion are as follows:
Review Account Date
Apply Credit Date Range
1 Friday July 30, 2021
Monday August 2 - 6, 2021 2 Tuesday August 31, 2021 Wednesday September 1 - 7, 2021 3 Thursday September 30, 2021 Friday October 1 - 7, 2021 4 Friday October 29, 2021 Monday November 1 - 5, 2021 5 Tuesday November 30, 2021 Wednesday December 1 - 7, 2021 6 Friday December 31, 2021 Tuesday January 4 - 10, 2022 7 Monday January 31, 2022 Tuesday February 1 - 7, 2022 8 Monday February 28, 2022 Tuesday March 1 - 7, 2022 9 Thursday March 31, 2022 Friday April 1 - 7, 2022 10 Friday April 29, 2022 Monday May 2 - 6, 2022 11 Tuesday May 31, 2022 Wednesday June 1 - 7, 2022 12 Thursday June 30, 2022 Friday July 1 - 7, 2022 13 Friday July 29, 2022 Monday August 1 - 5, 2022 14 Wednesday August 31, 2022 Thursday September 1 - 7, 2022 15 Friday September 30, 2022 Wednesday Monday October 3 – 7, 2022 16 Monday October 31, 2022 Tuesday November 1 – 7, 2022 17 Wednesday November 30, 2022 Thursday December 1 – 7, 2022 18 Friday December 30, 2022 Monday January 2 – 6, 2023
- A Qualifying Client will be eligible to receive their first trading credit of AUD$1,000 when such Qualifying Client meets the Balance Requirement by the next account review date after meeting the criteria set out in paragraph 3 above. For example: a Qualifying Client decides to participate in the Program in July and funds his account with at least AUD$10,000 on 20 July 2021. On 30 July 2021, the account review date, if the Qualifying Client has a cash balance of at least AUD$10,000 in their account, we will apply a trading credit of AUD$1,000 to that account within three (3) to five (5) business days from 2 August 2021, i.e. the first trading day of the following month.
- For a Qualifying Client to continue participating in the Program and to receive a trading credit of AUD$1,000 each following month (up to a maximum of twelve (12) consecutive months), such Qualifying Client must meet both the Trading Requirement and Balance Requirement each month. For example: after the Qualifying Client receives the first trading credit on 5 August 2021, he conducts a number of trades in August with total notional value of AUD$60,000 and these trades have a margin requirement of AUD$2,000. On 31 August 2021 the next review date, if such Qualifying Client also maintains a cash balance of at least AUD$10,000 in his account, he will then receive a trading credit of AUD$1,000 within three (3) to five (5) business days from 1 September 2021.
- We will apply the trading credit to a Qualifying Client’s account within three (3) to five (5) business days from the first trading day of the new month when a Qualifying Client meets the Trading Requirement and Balance Requirement
- If a Qualifying Client does not meet the Trading Requirement or the Balance Requirement in any month during the course of the Program, such Qualifying Client’s participation in the Program shall automatically cease. The trading credits such Qualifying Client has received from the previous months shall remain in their account and the Qualifying Client can continue to use them against their margin requirements for the remainder of the Program Period. The trading credits shall be removed from the Qualifying Client’s account after the expiry of the Program Period. If such removal causes the Qualifying Client’s account to fall below the Margin Close Out Level (as such term is defined in Our Terms) we shall, in our sole discretion, take such actions as are set out in Our Terms. A Qualifying Client whose participation in the Program ceases shall not be permitted to re-join the Program.
- The trading credits shall not be converted into cash or withdrawn until the Trading Requirement and Balance Requirement are met by a Qualifying Client consecutively each month for a consecutive period of twelve (12) months during the course of the Program. Subject to the Trading Requirement and Balance Requirement having been met in accordance with these Program Terms and the trading credits having been allocated to the Qualifying Client’s account, the entire trading credits earned will then be available to be converted to cash or withdrawn after the expiry of the Program Period. For the avoidance of doubt, recognising that the Program Period is fourteen (14) months, a Qualifying Client who meets the Trading Requirement and Balance Requirement consecutively each month for a consecutive period of twelve (12) months and achieves this before the end of the Program Period (in months twelve (12) or thirteen (13)) will not have to meet the Trading Requirement and Balance Requirement for any remaining months of the Program Period.
- A Qualifying Client can earn a maximum of AUD$12,000 during the course of the Program.
- For the purposes of these Program Terms:
"Trading Requirement" means to make enough trades to use the trading credit of AUD$1,000 in full each calendar month towards a Qualifying Client’s margin requirement. Trades can be conducted on any asset classes.
"Balance Requirement" means to maintain a minimum cash balance of AUD$10,000 in a Qualifying Client’s account on each account review date as set out in paragraph 5. The cash balance shall exclude any trading credits.
- The Program is strictly limited to one (1) participating account per household, unless trading statements can be provided which show both Qualifying Clients have a history of operating independently with their existing brokers. The Program is also strictly limited to one (1) participating account per Qualifying Client and it is available to self-directed Qualifying Clients only. Managed accounts and accounts referred by an introducing broker are not eligible to participate in the Program.
- This Program shall not be applicable in conjunction with any other offer or Program offered by us except for the Refer A Pro to participate the Australia “Pro Trading Credit” Program AUD $2,500 Referral Promotion. Qualifying Clients shall not be entitled to participate in any other Program during the Program Period except for the Refer A Pro to participate the Australia “Pro Trading Credit” Program AUD $2,500 Referral Promotion.
- Your account must be open and not the subject of any dispute with us or in default on the date the trading credit or any part of it becomes payable in accordance with these Program Terms. Failure to comply with these Program Terms shall result in a loss of your entitlement (if any) to a trading credit (or any part thereof) pursuant to this Program.
- Qualifying Clients should read these Program Terms carefully, as well as Our Terms and the risk warnings contained therein. Under no circumstances will we be liable for any losses that a Qualifying Client may incur as a result of trading on their account(s) using the trading credit(s) or otherwise. This Program is not intended to change any Qualifying Client’s risk preferences or investment strategies and we accept no responsibility for the same.
- Notwithstanding any other provision of these Program Terms, we shall have the sole discretion to determine your eligibility under these Program Terms, including, without limitation, whether or not you are a Qualifying Client. We have the right not to accept a Qualifying Client or to cease a Qualifying Client’s participation in the Program for any reason or without reason as we shall determine in our sole discretion.
- Our employees or other producers or suppliers associated with this Program, their advertising, printing and publicity agencies, and their immediate family members (i.e. any person residing in the household of the aforementioned people) will not be eligible to participate in the Program.
- In the event that a person takes part in this Program who does not meet the qualifying criteria set out in these Program Terms, we reserve the right, without prejudice to any other rights under these Program Terms or Our Terms, to immediately remove the Program from the applicable account, including, without limitation, removing any credit applied to the account. In addition, we reserve the right at our sole discretion to disqualify any individual that tampers or attempts to tamper with the entry process or the operation of the Program, or who breaches the Program Terms or Our Terms.
- We reserve the right to alter, amend or terminate this Program, or any aspect of it, at any time and without prior notice. We may make changes to these Program Terms by posting the modified terms on our website. We recommend you revisit these Program Terms regularly, and by your continued use of our services you accept any such modified terms.
- Any dispute or situation not covered by these Program Terms will be resolved by our management in a manner it deems to be the fairest to all concerned, and that decision shall be final and/or binding on all entrants. No correspondence will be entered into.
- If these Program Terms are translated into a language other than English, then the English version of the Program Terms shall prevail where there is an inconsistency.
- A currency conversion (determined by StoneX Financial Pty Ltd.) will be applied to all accounts not trading in an AUD base currency.
- If any term of these Program Terms is found to be illegal, invalid or unenforceable under any applicable law, such term shall, insofar as it is severable from the remaining terms, be deemed omitted from these Program Terms and shall in no way affect the legality, validity or enforceability of the remaining terms.
- This Program will be governed by the laws of New South Wales, Australia, and the federal courts of Australia and the courts of the state of New South Wales shall have exclusive jurisdiction over any matter or dispute arising from this Program.