UK rebate scheme
UK rebate scheme
- You agree that by participating in the City Index UK Rebate Scheme (“Rebate Scheme”) you will be bound by these terms and conditions (“Rebate Scheme Terms”) as well as the general terms and conditions (including any supplemental terms) that apply to your Account (as defined below) (“Our Terms”). Capitalised terms and expressions used in these Rebate Scheme Terms shall have the same meaning as in Our Terms, unless specified otherwise in these Rebate Scheme Terms.
- The Rebate Scheme is offered by City Index (“City Index”, “we”, “our” or “us”). City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.
- Subject to paragraph 12 below, to be eligible to take part in the Rebate Scheme, you must:
- have an active, open account with City Index (“Account”);
- have satisfied the minimum monthly trading volume requirement within a calendar month during the term of the Rebate Scheme; and
- be classified by us as a Professional Client.
Anyone who meets all the criteria above shall be a “Qualifying Client”.
- A Qualifying Client who meets the Trading Requirement in full in respect of a calendar month will be credited with trading credit in their Account as calculated in accordance with the methodology set out in the tables on our website (“Rebate”). Under these Rebate Scheme Terms, the “Trading Requirement” means the minimum monthly trading volume criteria outlined on our website and is calculated at an Account level. Qualifying Clients with multiple Accounts may earn a Rebate on each Account subject to meeting the Trading Requirement on each Account individually. Trading volume cannot be combined or aggregated across different Accounts to meet the minimum Trading Requirement. The potential Rebates outlined on our website are not cumulative. For example, if a Qualifying Client qualifies for a Tier 3 Rebate, they will, subject to these Rebate Scheme Terms, receive only that Rebate and not also a Rebate in respect of Tiers 1 and 2. The maximum aggregate monthly Rebate available to a Qualifying Client across all Accounts under this Rebate Scheme is £25,000 (or account base currency equivalent).
- Subject to these Rebate Scheme Terms, once the Rebate has been applied to a Qualifying Client’s Account, it can be withdrawn or used for trading.
- This Rebate Scheme will commence on 1st February 2019 until further notice. Rebate payments will be made during the first week after the end of the calendar month to which they relate. For example trading in June will earn you a rebate payment during the first week of July. Rebate payments will be calculated in GBP; in the case of non-GBP Accounts, Rebates will be converted to the Account’s base currency using a non-negotiable conversion rate determined by City Index.
- The Trading Requirement must be met by close of business (GMT) on the last day of the calendar month in question in order for the Qualifying Client’s Account to be credited with a Rebate in respect of that month. Monthly trading volume means trading volume in a calendar month. For the purposes of calculating any Rebate due under this Rebate Scheme, a Qualifying Client’s accumulated trading volume will be reset to zero at the start of each new calendar month.
- This Rebate Scheme is available to self-directed Qualifying Clients only. Managed accounts and accounts referred by an introducing broker are not eligible to participate in the Rebate Scheme.
- A Qualifying Client must not be in breach of these Rebate Scheme Terms or Our Terms, and the Account must be open and not be the subject of any dispute with us or in default, in each case on the date the Rebate becomes payable in order to qualify for the payment. Failure to comply with this paragraph 9 shall result in the loss of any entitlement to a Rebate and we may remove any Rebate(s) applied to your Account(s).
- 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). The Rebate is not intended to change a Qualifying Client’s risk preferences or investment strategies and we accept no responsibility for the same.
- Notwithstanding any other provision of these Rebate Scheme Terms, we shall have the sole discretion to determine your eligibility under these Rebate Scheme Terms, including, without limitation, whether or not you are a Qualifying Client or whether or not you have met the Trading Requirement.
- Our employees or other producers or suppliers associated with this Rebate Scheme, 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 Rebate Scheme.
- In the event that a person takes part in the Rebate Scheme who does not meet the qualifying criteria set out in, or referred to in, these Rebate Scheme Terms, we reserve the right, without prejudice to any other rights under these Rebate Scheme Terms or Our Terms, to immediately remove the Rebate Scheme from the applicable Account, including, without limitation, removing any Rebate 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 Rebate Scheme, or who breaches the Rebate Scheme Terms or Our Terms.
- We reserve the right to alter, amend or terminate this Rebate Scheme, or any aspect of it, at any time and without prior notice. We may make changes to these Rebate Scheme Terms or the accompanying page(s) on our website at any time and will notify you of these changes by posting the modified terms on our website (www.cityindex.co.uk). We recommend you revisit these Rebate Scheme Terms and our website regularly, and by your continued use of our services you accept any such modified terms.
- Any dispute or situation not covered by these Rebate Scheme 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 binding on all entrants. No correspondence will be entered into.
- If these Rebate Scheme Terms are translated into a language other than English, then the English version of the Rebate Scheme Terms shall prevail where there is an inconsistency.
- If any term of these Rebate Scheme 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 Rebate Scheme Terms and shall in no way affect the legality, validity or enforceability of the remaining terms.
- This Rebate Scheme and the Rebate Scheme Terms will be governed by the laws of England and Wales and the English courts shall have the exclusive jurisdiction over any matter or dispute arising from this Rebate Scheme.