Singapore “Trade Free For A Year” Program
Singapore “Trade Free For A Year” Program
- You agree that by participating in the City Index "Trade Free For A Year" 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 "Trade Free for a Year Qualifying Customer" as defined below.
- Subject to paragraph 18 below, a "Trade Free for a Year Qualifying 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 Qualifying Period.
- The “Qualifying Period” commences on 18 January 2022 and will cease on 31 March 2022.
The “Program Period” commences on 18 January 2022 and will cease on 30 April 2023. The key dates of the Program are as follows:
Period Review Account Date 1
January 31, 2022 2 February 28, 2022 3 March 31, 2022 4 April 29, 2022 5 May 31, 2022 6 June 30, 2022 7 July 29, 2022 8 August 31, 2022 9 September 30, 2022 10 October 31, 2022 11 November 30, 2022 12 December 30, 2022 13 January 31, 2023 14 February 28, 2023 15 March 31, 2023
A Trade Free for a Year Qualifying Customer will be eligible to receive their first Cash Rebate when such Trade Free for a Year Qualifying Customer meets the Balance Requirement and the Trading Requirement by the next account review date. For example: a new Trade Free for a Year Qualifying Customer opens an Account in February 2022 and funds his account with at least SGD10,000 on 20 February 2022. On 28 February 2022, the account review date, if the Trade Free for a Year Qualifying Customer has a cash balance of at least SGD10,000 in their account and has generated Trading Costs of SGD300 for the month of February 2022, we will apply a Cash Rebate of SGD300 to that Account within ten (10) business days from 1 March 2022, i.e. the first trading day of the following month.
- When you become a Trade Free for a Year Qualifying Customer before your first account review date, a grace period will apply such that you will not be required to meet the Trading Requirement from the date you open your account until the first account review date but you will still be entitled to receive a Cash Rebate for that period. For the avoidance of doubt, you will still be required to meet the Balance Requirement during that period. For example: a new Trade Free for a Year Qualifying Customer opens an Account on 15 February 2022 and funds his account with at least SGD10,000. The Customer will benefit from a grace period whereby as at 28 February 2022 (their first account review date) they will only require a cash balance of at least SGD10,000 in their account and they will not have to have generated Trading Costs of SGD250 in order to receive a Cash Rebate.
- For a Trade Free for a Year Qualifying Customer to continue participating in the Program and to receive a Cash Rebate each following month (up to a maximum of twelve (12) consecutive months), such Trade Free for a Year Qualifying Customer must meet both the Trading Requirement and Balance Requirement each month. For example: the Trade Free for a Year Qualifying Customer in the above example continues to conduct trades in March generating Trading Costs of SGD400; then on 31 March 2022 the next review date, if such Trade Free for a Year Qualifying Customer also maintains a cash balance of at least SGD10,000 in his account, he will then receive a Cash Rebate of SGD400 within ten (10) business days from 1 April 2022.
- We will apply the Cash Rebate to a Trade Free for a Year Qualifying Customer’s Account within ten (10) business days of the first trading day of the month following the month for which the Trade Free for a Year Qualifying Customer has met the Trading Requirement and Balance Requirement during the Program Period. The Cash Rebate can be withdrawn at any time.
- If a Trade Free for a Year Qualifying Customer does not meet the Trading Requirement or the Balance Requirement in any month during the course of the Program Period, such Trade Free for a Year Qualifying Customer’s participation in the Program shall automatically cease. All Cash Rebates allocated to the Account up to that time shall be unaffected. A Trade Free for a Year Qualifying Customer whose participation in the Program ceases shall not be permitted to re-join the Program.
- 1A Trade Free for a Year Qualifying Customer can earn a maximum of SGD12,000 during the course of the Program.
- For the purposes of these Program Terms:
"Balance Requirement" means to maintain a minimum cash balance of SGD10,000 in a Trade Free for a Year Qualifying Customer’s Account on each account review date as set out in paragraph 6.
"Cash Rebate" means, for a given month, the amount allocated to your Account which will be equal to your Trading Costs of the same month. The minimum amount will be the Trading Requirement and the maximum amount will be SGD1,000.
"Trading Costs" means the total commissions, financing and spread incurred by you to conduct your trades on your Account. Trades can be conducted on any asset classes.
"Trading Requirement" means to make enough trades to generate Trading Costs of at least SGD250 for each calendar month.
- The Program is strictly limited to one (1) participating Account per household, unless trading statements can be provided which show both Trade Free for a Year Qualifying Customers have a history of operating independently with their existing brokers. The Program is strictly limited to one (1) participating account per Trade Free for a Year Qualifying Customer and it is available to self-directed Trade Free for a Year Qualifying 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 any other offer, promotion or program offered by us except for the Refer-A-Friend to participate in the Singapore "Free Trade For A Year Program" SGD2,000 Referral Promotion and/or the City Index Rebate Scheme. Trade Free for a Year Qualifying Customers shall not be entitled to participate in any other offer, promotion or program during the Program Period except for the Refer-A-Friend to participate in the Singapore "Free Trade For A Year Program" SGD2,000 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.
- Trade Free for a Year Qualifying 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 Trade Free for a Year Qualifying 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 Trade Free for a Year Qualifying 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 Trade Free for a Year Qualifying Customer or whether or not you have met the Trading Requirement. We have the right not to accept a Trade Free for a Year Qualifying Customer or to cease a Trade Free for a Year Qualifying 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.