Effective 29 October 2018
Eligibility for Referral Rewards
The Referrer and Referee shall be eligible for the Referral Rewards (as defined below) if such Referee is deemed a Qualified Referee. For the purposes of these terms and conditions, a “Qualified Referee” refers to a new User who has (a) registered for an account on the Interface through the referral link sent to them by the Referrer within seven (7) calendar days of clicking the referral link; (b) been accepted as a User on the Interface; and (c) successfully completed a trade on the Interface with a minimum notional value as updated from time to time in the Fee Schedule within thirty (30) calendar days of clicking the referral link (the “Referral”).
The Referrer and Qualified Referee shall be entitled to enjoy the following referral rewards (“Referral Rewards”):
The Referrer shall receive a proportion of commissions charged by the Group (the “Commission Fees”) for any trades conducted by the Qualified Referee and all such persons whose referral can be ultimately traced to the Referrer (the “Referee Network”). The Referrer shall receive Commission Fees in the amount equivalent to such Referrer’s Effective Commission Base.
The Referrer’s Effective Commission Base shall be calculated as (A) 20% of the commission charged by the Group for any trades conducted by the Qualified Referee; plus (B) 10% of the commissions received by the Qualified Referee, subject to these terms and conditions, as set out in the example below:
Payment of the Commission Fees shall be made daily to the Referrer’s registered account on the Interface in the following manner:
Discount on trading fees
Qualified Referee shall be entitled to a discount of 20% on trading fees with respect to their own trades conducted on the Interface for a period of 30 days following the Referral, in the case of the Qualified Referee.
For the avoidance of doubt, the discount on trading fees Qualified Referee is entitled to at any point in time shall be capped at 20%. The Group reserves the right at its sole and absolute discretion to revise the discount amount and Discount Period from time to time.
In addition to the restrictions agreed to by the Referrer in the Conditions, the Referrer hereby agrees that the following activities are expressly prohibited and engaging in any of these will be grounds for immediate termination and disqualification from the Program, and may lead to the forfeiture of accrued, but not yet received, Referral Rewards:
The Group shall not be liable to any Referrer or Qualified Referee for failure to award any Referral Rewards by reason of any acts of God, any actions, regulations, orders or requests by any governmental or quasi-governmental entity (whether or not the actions, regulations, orders or requests prove to be invalid), equipment failure, threatened terrorist attacks, terrorist acts, air raid, blackout, earthquake, tornado, hurricane, typhoon, war, unusually severe weather, explosion, labor or material shortage, transportation interruption of any kind, work slow-down, civil disturbance, or any other similar or dissimilar cause beyond the Group’s control.
The Referrer agrees to indemnify, defend and hold the Group and its representatives and agents harmless from and against any and all third party claims, demands, liabilities, costs or expenses, including attorney’s fees and costs, arising from, or related to any breach by the Referrer of any of these terms and conditions or any violation by the Referrer of applicable law.
The Group makes no express or implied warranties or representations with respect to the Program, the Referral Rewards or the Commission Fees payment arrangements (including, without limitation, their functionality, warranties of fitness, merchantability, legality, non-infringement, or any implied warranties arising out of a course of performance, dealing or trade usage).
The Referrer acknowledges that he/she has read these terms and conditions and agrees to abide by these terms and conditions in their entirety. The Referrer has independently evaluated the desirability of participating in this Program and is not relying on any representation, guarantee or statement other than that set forth in these terms and conditions.
If you have any other questions about the Program, please contact us via "Support Center" link on the website, https://support.btse.com.