Singapore Welcome Rebate Program
Singapore Welcome Rebate Program
- You agree that by participating in the City Index “Welcome Rebate” 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 with City Index (“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”), City Index is a trading name of StoneX Financial Pte. Ltd. (“SFP”) for the offering of dealing services in Contracts for Differences (“CFD”). SFP holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore for Dealing in Exchange-Traded Derivatives Contracts, Over-the-Counter Derivatives Contracts, and Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading. StoneX Financial Pte. Ltd. is a company incorporated under the laws of Republic of Singapore (with company registration number 201130598R) and having its registered office at 1 Raffles Place #12-62, Tower 2, One Raffles Place, Singapore 048616.
- To be eligible to take part in the Program you must be a Welcome Rebate Customer (as defined below).
- Subject to paragraph 16 below, a “Welcome Rebate Customer” means an individual who:
a) is at least eighteen (18) years of age;
b) is a new customer to City Index, does not have another City Index trading account (the “Account”) and has not held one in the past or is an existing customer of City Index and has been expressly invited by us to take part in the Program via email; and
c) if they are a new customer, opens a City Index trading account during the Signup Period.
- The “Signup Period” commences on 1 June 2022 and will cease on 31 July 2022.
- The “Program Period” commences on 1 June 2022 and will cease on 31 July 2023.
- A Welcome Rebate Customer will be eligible to receive a Cash Rebate when such Welcome Rebate Customer incurs Trading Costs in a given calendar month during the Program Period. We will apply the Cash Rebate to a Welcome Rebate Customer’s Account within ten (10) business days of the first trading day of the month following the month in which the Welcome Rebate Customer has incurred Trading Costs during the Program Period. The Cash Rebate can be withdrawn at any time.
- A Welcome Rebate Customer will be eligible to receive a Cash Rebate for a maximum of twelve (12) months consecutively during the Promotion Period. A Welcome Rebate Customer is not required to incur Trading Costs each month to remain in the Program but each month will count towards the twelve (12) month period whether or not Trading Costs are incurred. A Welcome Rebate Customer whose participation in the Program ceases for any reason shall not be permitted to re-join the Program.
- A Welcome Rebate Customer can earn a maximum of SGD12,000 during the course of the Program.
- For the purposes of these Program Terms:
“Cash Rebate” means, for a given month, the amount allocated to your Account which will be calculated based on your Trading Costs for such month according to the following table:
Monthly Trading Costs
1 $0 - $100 Up to $100 2 $101 - $300
3 $301 - $500 $200
4 $501 - $1000
5 $1001 - $1500
6 $1501 - $2000
- For tiers 2-7 you will receive the full rebate for the tier you are in that month as determined by your Trading Costs in that month. For example: if you incur Trading Costs of $420 you will be in tier 3 meaning you will receive a rebate of $200.
“Trading Costs” means the total commissions, net financing (funding paid less funding received) and spread incurred by you to conduct your trades on your Account. Trades can be conducted on any asset classes.
- The Program is strictly limited to one (1) participating Account per household, unless trading statements can be provided which show both Welcome Rebate Customers have a history of operating independently with their existing brokers. The Program is strictly limited to one (1) participating account per Welcome Rebate Customer and it is available to self-directed Welcome Rebate Customers 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, and Welcome Rebate Customers shall not be entitled to participate in, any other offer, promotion or program offered by us except for the Refer-A-Friend to participate in the Singapore “Welcome Rebate Program” Referral Promotion and/or the City Index Rebate Scheme.
- Your Account must be open and not the subject of any dispute with us or in Default on the date the Cash Rebate 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 Cash Rebate (or any part thereof) pursuant to this Program.
- Welcome Rebate Customers 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 Welcome Rebate Customer may incur as a result of trading on their Account(s) using the Cash Rebate(s) or otherwise. This Program is not intended to change any Welcome Rebate Customer’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 Welcome Rebate Customer. We have the right not to accept a Welcome Rebate Customer or to cease a Welcome Rebate Customer’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 arising from the Program or 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.
- 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 Pte. Ltd..) will be applied to all accounts not trading in an SGD 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 the Republic of Singapore, and the courts of the Republic of Singapore shall have exclusive jurisdiction over any matter or dispute arising from this Program.