Loyalty Scheme Terms & Conditions
- The loyalty scheme is only available to live account holders. The opening of an account is subject to status.
- Core Spreads is the sole arbiter of these rules and any other issue arising under the loyalty scheme.
- All clients are enrolled into the loyalty scheme automatically. Clients can opt out by emailing firstname.lastname@example.org.
- This loyalty scheme can be used in conjunction with the Welcome Bonus.
- Clients earn Core Points as per the Points Table displayed at https://www.corespreads.com/rewards/points-table/. Core Spreads can update the Points Table at its discretion; any changes in the Points Table will be effective immediately unless expressly stated.
- The amount of Core Points held at the end of each calendar month (midnight GMT) will determine the rebate level (expressed as a % of total spread) in the following month, as per the Rebate Ladder displayed at https://www.corespreads.com/rewards/rebate-ladder/ . For the avoidance of doubt Core Points earned in a particular month do not impact the Rebate Level for that month, only the following month.
- Following the month earned, Core Points depreciate on a straight line basis of 1/3 (one third) per month. For example, 150 points are earned in July, at the end of August July’s points will be worth 100 points, at the end of September 50 points and then zero at the end of October. Please see example below:
January Trades worth £ 2000 ; 2000 Core Points
66.67% of 4000 Core Points from December 2016 2666.8
33.33% of 3000 Core Points from November 2016 999.9
Total including Core Points carried over 5666.7= 15% rebate for February 2017
- Following the end of a month and once verified the Rebate Level is then set for the following month. The Points Table in place at midnight GMT at the end of each month will be the one used to calculate Rebate Levels for the following month, even if the table was updated part way through the previous month.
- For CoreTrader accounts Rebate Amounts are calculated by taking the total spread traded during the month multiplied by the relevant Rebate Level set at the start of the month (i.e. £150 spread traded x Rebate Level of 1% = Rebate Amount of £1.50).
- For MT4 accounts Rebate Amounts are calculated by taking the total commission traded during the month multiplied by the relevant Rebate Level set at the start of the month (i.e. £500 commission paid x Rebate Level of 5% = Rebate Amount of £25).
- Subject to verification, the Rebate Amount, providing it has a value of at least £10 (or the currency equivalent), will be paid directly into the applicable account within the first 10 working days of the following month. Rebate Amounts can only be paid into the relevant Core Spreads trading account and are not transferrable to any other account.
- For CoreTrader accounts index, fx and commodity trades the 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’ spread on UK 100 is 0.8, opening a £25 a point spread bet generates £10 spread on the opening trade and £10 spread on the closing trade. On all equity trades the underlying market spread is excluded and only the fixed % add-on spread is included in the total spread calculation.
- For MT4 accounts commission is levied separately on all fx, gold and silver markets at the rates given in the market information section of the website. For the avoidance of doubt, any commission included within the bid-offer spread on MT4 will not count towards the loyalty scheme.
- The maximum rebate amount payable to one Core Spreads client is £2,500 (or the currency equivalent) per calendar month.
- The Points Table remains the same no matter the base currency of the account (GBP, EUR or USD).
- For positions open at month end only the opening leg will be included.
- Once applied to the client’s trading account there is no release criteria and the Rebate Amount can be withdrawn at any time upon the instruction of the client.
- The loyalty scheme operates on a calendar month basis, there are no adjustments for months shorter than 31 days.
- Withdrawal of the Rebate Amount is not automatic and Core Spreads must be instructed by the client.
- The Rebate Amount can only be withdrawn if it does not create a margin call and/or a deficit cash balance.
- The metrics given in the ‘Rewards’ section of the trading platform and the client portal are indicative and are subject to review at month end prior to any Rebate Amount being paid or Rebate Level being agreed for the following month.
- The loyalty scheme operates on a GMT (not BST) basis.
- Core Spreads is not responsible for the client’s adherence to social media platform T&Cs.
- The definition of a social media ‘day’ is the snapshot taken at midnight GMT.
- Clients are only eligible for one Rebate Amount per calendar month per trading account.
- The loyalty scheme operates on a per user basis.
- Core Points, Rebate Levels and Rebate Amounts cannot be transferred ( Clients can trade with the rebate amount?)
- Core Points, Rebate Levels and Rebate Amounts cannot be used by anyone other than the account holder.
- Core Spreads will not be liable for any losses that clients may incur as a result of trading with the rebate amounts.
- The loyalty scheme is subject to fair use policy and abuse of it may result in Core Points, Rebate Levels and Rebate Amount being withheld. Core Spreads reserves the right to withdraw clients from the scheme.
- Rebate Amounts are claimed automatically on the date of payment into the client's account, Rebate Amounts are not considered earned until verified by Core Spreads and credited to the relevant account.
- This loyalty scheme runs until cancelled by Core Spreads. Upon cancellation all Core Points, Rebates Levels and unpaid Rebates Amounts are immediately void.
- If a client requests to close an account all Core Points, Rebate Levels and unpaid Rebate Amounts become null and void with immediate effect.
- Core Spreads reserves the right to retrospectively amend, withdraw or restrict the loyalty scheme at any time without notice.
Last updated: 23rd December 2015.