Terms & Conditions
1. These terms and conditions (“Rules”) apply to the Refer a Friend promotion (“Promotion”). By participating in the Promotion, you agree to be bound by these Rules. This Promotion comes into effect on 12:00 a.m. MST (UTC+8) on April 1, 2023
2. This Promotion is offered by IG International Limited, which is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority and is registered in Bermuda (“we”, “us”, “IG” or “our”). Our business address is 16 Burnaby Street, Hamilton HM11 Bermuda and our registered address is Canon’s Court, 22 Victoria Street, Hamilton HM12 Bermuda.
3. To qualify for the Promotion, the person making the referral (“you”) must:
a. hold an active personal CFD account with IG; and
b. be an individual and a direct client of IG.
4. If you have any introduction or introduction-type arrangement with IG or any IG group company, any referrals thereunder will not qualify for the Promotion.
5. You must have an existing business or personal relationship with the individual you would like to refer (“Your Friend”). Your Friend must be:
a. an individual who is 18 years or older; and
b. a new client to IG (not having previously held an account with IG or any other IG group company).
6. To participate in the Promotion, you must share the unique URL provided to you as part of this Promotion with Your Friends that you believe would be interested in IG’s products or services. You may refer up to a maximum of five people under this Promotion.
7. All accounts are opened subject to our standard account opening criteria, and as such not all applicants will be successful in their application for an account.
8. To qualify for the Promotion, Your Friend is required to:
a. open a trading account with IG through the unique URL shared by you (their “Account”); and
b. make at least five ‘qualifying trades’ of any product within three months of the Account being opened (the “Qualifying Period”).
A ‘qualifying trade’ is a CFD with a minimum size of one mini contract or equivalent on which Your Friend have paid spreads or commissions (subject to any applicable promotional offers). Trades subject to a commission free period will not be qualifying trades.
9. Subject to any applicable exclusions in these Rules, if Your Friend meets the criteria in clause 8, they will then be eligible to be an active referral (“Active Referral”) and you will receive a reward in line with the tiers in clause 11 the “Reward”).
10. If any restrictions apply to your account or the account of Your Friend, the referral will not qualify as an Active Referral until the restrictions have been lifted. Any restrictions that apply to an account will be detailed in the email to the account holder upon account activation. The referral will not qualify as an Active Referral if your account or the account of Your Friend is closed for any reason.
11. Reward Tiers
Tier 1: You will receive a Reward of USD100 for all Active Referrals unless your Reward is increased in line with Tiers 2 to 4, below;
Tier 2: If the Active Referral pays spreads and commissions on their Account during the Qualifying Period (the “Spread/Commission Paid”) in an amount of USD250 up to and including USD999.99 you will receive a Reward of USD250;
Tier 3: If the Active Referral’s Spread/Commission Paid during the Qualifying Period is an amount of USD1,000 up to and including USD3,999.99 you will receive a Reward of USD500;
Tier 4: If the Active Referral’s Spread/Commission Paid during the Qualifying Period is an amount of USD4,000 or more you will receive a Reward of USD2,000.
Rewards under the Tiers are not cumulative and no Active Referral can trigger a Reward greater than USD2,000. Foreign exchange conversions necessary to calculate the spreads and commissions will be converted at the spot rate as determined by IG.
12. Within 45 business days of Your Friend becoming an Active Referral, you will receive your cash Reward under Tier 1 posted to your default IG trading account. Within 45 business days of the end of the Qualifying Period, you will receive any additional cash Reward that may be due in line with Tiers 2 to 4 posted to your default IG trading account.
13.Your Friend may also receive a percentage rebate of their fees determined by reference to the value of Spread/Commission Paid by them on their Account during the Qualifying Period. These rebates will be calculated as follows:
Tiers 1 and 2: If an Active Referral pays Spread/Commission Paid of up to and including USD999.99 within the Qualifying Period their rebate will be 10% of Spread/Commission Paid;
Tier 3: If an Active Referral pays Spread/Commission Paid of USD1,000 up to and including USD3,999 within the Qualifying Period their rebate will be 20% of the Spread/Commission Paid; and
Tier 4: If an Active Referral pays Spread/Commission Paid of USD4,000 or more within the Qualifying Period their rebate will be 30% of the Spread/Commission paid.
Rebates under the Tiers are not cumulative and no Active Referral will receive a rebate greater than USD2000 under this Promotion, though may receive a rebate under another rebate scheme run by IG, at IG’s discretion. Your Friend will receive their rebate within 45 business days of the end of the Qualifying Period. Foreign exchange conversions necessary to calculate the spreads and commissions will be converted at the spot rate as determined by IG.
14. A referral will not qualify as an Active Referral if you have a power of attorney over the account of Your Friend. You cannot refer yourself via a joint account or refer a member of the same household.
15. You can only refer an individual to an IG company once. If you have referred an individual to any IG group company, you cannot refer the same individual again to that IG group company or another company in the IG group.
16. The Promotion is not open to employees of IG or any IG group company or employees of any other company engaged in direct competition with IG or any IG group company.
17. Your Friend will be informed that you will receive or have received a reward payment as a result of their opening and trading on an IG account. Your Friend will also be told that the amount of spreads and commissions that they have paid may be disclosed to you in order for you to understand the Reward that may be paid to you.
18. If Your Friend does not become an Active Referral and meet the criteria in accordance with the timeframes in these Rules, you will not be eligible for any reward.
19. This Promotion replaces and supersedes all previous IG Refer a Friend promotions (“Previous Promotion”). If you referred Your Friend under the Previous Promotion rules:
a. these new Rules will replace those rules with immediate effect; and
b. if a reward amount that will become due to you would have been higher under the Previous Promotion, you will receive the Previous Promotion reward amount.
20. IG reserves the right to remove a Reward or substitute a Reward offered with another item of the same value, at its sole discretion, from time to time and without prior notice to you or Your Friend.
21. The Promotion and any obligations of IG pursuant to it will be revoked or withdrawn from participants who abuse the spirit or intention of it. We reserve the right to right to review and investigate any referral activities and cancel or withdraw the Promotion at any time in case of any suspected abuse of the Promotion. The sharing of referral links on public sites in order to obtain an unintended advantage is not permitted and any such link may be blocked. Where any of these Rules are breached, if we believe that any of the terms of your Customer Agreement with us have been breached in any way, you no longer have an account with IG or there is any reason to suspect a participant has acted fraudulently or obtained an unfair or unintended advantage pursuant to this Promotion, we reserve the right to stop, withhold or cancel payment of a Reward or to prevent any attempted withdrawal of a Reward from your account.
22. To the extent a Reward has been paid to you and we suspect a participant has acted fraudulently or obtained an unfair or unintended advantage pursuant to this Promotion, you agree that we will be entitled deduct an amount equivalent to the Reward from any IG trading account that you hold with us.
23. We are the sole arbiter of the Promotion, these Rules and any other issues arising under this Promotion. Exceptions to these Rules are at the sole discretion of IG’s management, and our decision is final. We reserve the right to alter, amend or terminate the Promotion or any aspect of it (including the Rules) at any time and without prior notice.
24. The Reward cannot be combined with any other reward promotions that IG offers.
25. We will not be held liable for any losses incurred by you or Your Friend as a result of your (or their) trading or in relation to this Promotion. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.
26. We will not be held liable for your, or Your Friend’s, inability to satisfy the eligibility requirements of the Promotion or ability to trade as the result of any technical malfunction of the internet, IG’s trading platform, or your or Your Friend’s own computing system. You and Your Friend accept all risks associated with trading over the internet, mobile applications, and downloadable software.
27. Any dispute or situation not covered by these Rules, will be resolved by our management in a manner it deems to be fairest to all concerned and that decision shall be final and binding on all parties.
28. If at any time all or any part of any provision of these Rules are or become illegal, invalid or unenforceable in any respect under the law of any jurisdiction, such provision(s) shall not affect or impair the legality, validity or enforceability in that jurisdiction of the remainder of that provision or all other provisions of these Rules or the legality, validity or enforceability under the law of any other jurisdiction of that provision or all other provisions of these Rules.
29. If any tax is payable on the Reward paid by us to you pursuant to the Rules, this tax will be your liability and will not be incurred by us. If the law requires us to withhold this tax and settle with the relevant tax authority on your behalf, then we shall credit your Reward to your account net of this tax.
30. These Rules shall be governed by and construed in accordance with the English law and shall be subject to the jurisdiction of the courts of England and Wales.