Part 1 – General
- “First Month Welcome Bonus” “Offer” “Promotion” “The Scheme” “Scheme” “Bonus” “The Bonus” “First Month” and “Welcome Bonus” have the same meaning throughout these terms.
- “You” “Your” “Client” “New Client” “Account Holder” “Account” and “Person” has the same meaning throughout these terms.
- Platform means CoreTrader – our proprietary software used to conduct market activities.
- The opening of an Account is subject to status and our approval.
- Demo Accounts are not eligible.
- The Welcome Bonus is not available for Corporate Accounts.
- The Welcome Bonus is only available on CoreTrader Accounts. MT4 Accounts are not eligible.
- Core Spreads is the sole arbiter of these rules and any other issues arising under this promotion.
- This offer is available to new Clients only. A new Client is defined as a Person who has not held a CoreTrader Account with Core Spreads previously. The offer is limited to one Account per Client and one Account per household.
- Participation in the scheme is not compulsory and you may write to us within the first month if you do not wish to make a claim.
- This Offer cannot be used in conjunction with any other Offer, unless explicitly stated in the terms and conditions of that offer.
- The Welcome Bonus is non-transferable between Accounts and/or Persons unless previously agreed with Core Spreads and at our sole discretion.
- You indemnify Core Spreads against any tax or other matters arising out of the Welcome Bonus payment or, if applicable, part payment thereof.
- The Welcome Bonus cannot be exchanged in lieu for any other services offered by Core Spreads Its partners or associates.
- The Welcome Bonus is not available for Core Spreads Employees or their relatives.
Part 2 – How the Bonus is Calculated
- The Welcome Bonus is capped at AUD $5,000.
- The Bonus amount is calculated as follows:
- 50% of the first month’s spread up to $5,000.
- For example, if a qualifying Client placed trades with a spread totalling $5,000 in the first month the Welcome Bonus would be $2,500 (50% of $5,000).
- Spread is defined as the difference between the bid and offer price multiplied by the stake divided by two. Spread is generated on both the opening and closing legs of a trade. For example, Core Spreads Australia's spread on Wall Street 30 is 1, opening a $25 a point spread bet generates $12.50 spread on the opening trade and $12.50 spread on the closing trade. On all equity trades the underlying market spread is excluded and only the add-on spread is included in the total spread calculation.
- For positions open at the end of the first month only the opening leg will be included.
- The Welcome Bonus starts when you have placed a minimum deposit of $1.00 onto your CoreTrader Platform.
- The Welcome Bonus First Month starts on the day when you have made a minimum deposit of $1.00 on the CoreTrader platform: this will be considered a full day.
- The First Month is concluded at midnight one calendar month after the first deposit was made.
- There will be no adjustment if the month is less than 31 days long. For example, a Client receives notification that their CoreTrader Account has been approved and opened on the on the 10th June 2019, for the purposes of the Bonus calculation the first month will run from 10th June 2019 to midnight on the 9th July 2019.
Part 3 – How to Claim Your Bonus
- Withdrawal of the Bonus amount is not automatic, and Core Spreads must be instructed by you.
- The Bonus can only be withdrawn if it does not create a margin call and/or a deficit cash balance
- Once you have completed your first month’s trading, you are required to claim the Bonus by contacting the Customer Support team stating your Account number via:
- email on firstname.lastname@example.org or;
- phone on +61 (0) 2 8188 4217
- The Bonus must be requested within 14 calendar days from the end of your first month. If you do not claim within this period, you will be no longer entitled to receive the Bonus.
- Subject to clause 4.3, Core Spreads will not entertain any further claims from you after 14 calendar days have elapsed.
- The Bonus can be claimed early before the first month has finished, but once claimed, Clients will not be able to make further claims in respect of this offer.
- Once applied to your Account there are no further release criteria and the Bonus money can be withdrawn at any time upon the instruction of the client.
- Any part or full Bonus payment will be converted to the equivalent of your Platforms trading currency on your Account. For example, if you hold a USD Account, then, using a spot rate decided by us we will convert and calculate from Australian Dollar to either USD/GBP/EUR.
Part 4 – Limitations
4.1 This offer runs until 31st May 2020 and in order to qualify for the Bonus, You must have opened a Core Spreads CoreTrader Account, traded, completed their first month and requested the Bonus before the closing date.
4.2 Core Spreads reserves the right to adjust the Bonus amount should it deem the trading not to have occurred during normal market conditions and/or for normal market trade sizes.
4.3 This offer is subject to a fair use policy and abuse of this offer may result in the Bonus being withheld.
4.4 Core Spreads will not be liable for any losses that Clients may incur as a result of trading with the Bonus amount or removal of the Bonus in line with these terms (i.e. if removal creates a margin call or closure of positions).
4.5 Core Spreads reserves the right to amend, withdraw, alter or restrict this promotion at any time without notice.
4.6 Core Spreads will conduct checks on your Account transaction history to ensure that the correct Bonus figure has been applied. Core Spreads reserves the right to alter or amend any Bonus allocation on your Account for up to one month from the date that the Bonus has been applied if we believe that an incorrect amount has been applied and that you agree to indemnify us against any negative balance if applicable.
4.7 If you close your Account or we close your Account, then at our sole discretion, we may only pay a proportion of the Bonus.
Last updated: 11th April 2019.