Affiliate Agreement

  • Fortuno Markets Affiliate Agreement

    TABLE OF CONTENTS

    1. Introduction
    2. General Terms and Conditions
    3. Definition of Terms
    4. Electronic Signatures and Affiliate Acceptance of Agreement(s)
    5. Representation and Warranties
    6. Affiliate Relationship and Activities
    7. Commission Program
    8. Prohibited Trading
    9. Payments
    10. Term
    11. Amendment and Termination
    12. Written Notice
    13. Personal data and recording of telephone calls
    14. Confidentiality
    15. Proprietary Property
    16. Force Majeure
    17. Exclusion of Liability
    18. Indemnity
    19. Governing Language
    20. Governing Law and Jurisdiction
    21. Dispute Resolution
    22. Assignment
    23. Appendix
  • 1. Introduction

This Agreement (herein the “Agreement”) is entered by and between Fortuno Markets Ltd (hereinafter the “Company”) incorporated in Saint Lucia and the person who has completed the Online Application Form to become an Introducer of the Company (hereinafter the “Introducer”), through the Company’s Website.

Both the Affiliate and the Company may hereinafter collectively be referred to as the “Parties” and each of them as a “Party”, where the context requires so.

WHEREAS:

1.1. The Company is a broker providing trading services in CFDs on Forex and Commodities to both retail and institutional Clients;

1.2. The Affiliate is an independent contractor who is engaged in the business of soliciting Clients in respect of financial services transactions carried out by the Company and is willing to act as a mediator and is remunerated as a mediator in the process of identification of suitable opportunities for the Company to provide the financial services licensed to provide and specifically to generate leads, create consumer interest towards the products and services offered by the Company and in general carrying out any actions deemed necessary aiming to the successful conclusion of a contractual relationship between the Company and introduce Prospective Clients to the Company.

1.3. The Parties wish to set out the terms and conditions of their relationship where the Affiliate would provide intermediary services and carry out any preparatory tasks deemed necessary towards the Company for canvassing Prospective Clients with the scope to enter into an Operating Agreement with the Company. The Affiliate will act as a mediator between the Company and the Prospective Clients for introducing Prospective Clients of its network and/or explaining the financial services the Company is licensed to offer to all of its Clients and will act as an intermediary doing all that is required and necessary for the conclusion of a contractual relationship between the Company and the Prospective Clients the service of introducing Prospective Clients to the Company.

1.4. The Affiliate, if required under applicable laws and regulations, is solely responsible to ensure that he is registered as an Affiliate, or in some other capacity which authorizes the Affiliate to undertake and provide to the Company the services contemplated under this Agreement.


2. General Terms and Conditions

2.1. The Agreement is entered between the Company and the Affiliate in respect of the provision of services in their individual capacity. The Agreement is valid for an indefinite period of time, unless terminated under the provisions of clause 11.

2.2. This Agreement and all Appendices constitute the entire Agreement between the Parties and will supersede and replace all prior arrangements, in written form, between the Parties.

2.3. Each Party acknowledges that, in entering into this Agreement, they do not rely on any representation, warranty or other term not forming part of this Agreement.

2.4. The Affiliate will not describe himself as an agent of the Company and will not hold himself out or act, or authorize or permit any person to hold it out or act, as an authorized or permitted person to bind the Company to a third party in any way, unless otherwise been agreed between Parties, in written form.

2.5. It is agreed and understood by both parties that the Company has the absolute right, after giving to the Affiliate prior notice, to change the terms of this Agreement. It is noted that any changes to this Agreement are subject to prior approval from the Affiliate.

3. Definition of Terms

3.1. In this Agreement:

  • “Account” means any trading account opened with the Company.
  • “Affiliate” means any legal entity or a natural person obtaining remuneration from the Company for acting as mediator between Prospective Clients and the Company and carrying out activities deemed necessary for the conclusion of an agreement between the Company and its Client, as per the provisions of the present Agreement, for the purpose of introducing clients to the Company.
  • “Ask” means the higher price in the Quote being the price at which the Client may buy.
  • “Balance” means the total financial result of all Completed Transactions and depositing/withdrawal operations on the trading account.
  • “Base Currency” means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
  • “Bid” means the lower price in the Quote being the price at which the Client may sell.
  • “Campaign” means an Affiliate link which is different than the one received by the Affiliate at the time of Affiliate Account Opening and which shall have the same or different commission structure than the one mentioned in Appendix 1 of this Agreement. A Campaign can only be created by the Affiliate if the Company provides its prior approval.
  • “Complementary Agreement” means an additional agreement executed between the Affiliates and/or sub-Affiliates of the Company. This type of agreement is valid only in the event where Prospective Clients who become Clients are offered financial instruments whose price are subject to mark-up and the Company has obtained its consent. It is noted that the Remuneration scheme in place between the Company and its Affiliates or sub-Affiliates under these circumstances will be defined in the Complementary Agreement only.
  • “Completed Transaction” means two counter deals of the same size (opening a position and closing a position); buy then sell and vice versa.
  • “Contract for Differences” (“CFD”) means a contract, which is a contract for differences by reference to fluctuations in the price of the underlying asset (shares, futures, metals, indices etc.), without right for physical exchange of the underlying asset.
  • “Currency Pair” means the object of a Transaction based on the change in the value of one currency against the other.
  • “Effective Date” means the date upon which the Affiliate agrees to the Terms and Conditions of the present Agreement and submits the Online Application Form on the Company’s Main Website(s).
  • “Existing Client” means:
    • a) a Client who already had a trading account with the Company at the moment when the Affiliate mediated and solicited the Client for the first time to the same, or
    • b) a Client who, further to the mediation and canvassing of the Affiliate, has been introduced by the Affiliate and has opened a trading account with the Company.
  • “Force Majeure Event” shall have the meaning as set out in clause 16.
  • “Initial Margin” means the margin required by the Company to open a position. The details for each Instrument are in the Contract Specifications.
  • “Instrument” means any Currency Pair or Contract for Differences.
  • “Intellectual Property Rights” means patents, rights to inventions, copyright and related rights, moral rights, trademarks, trade names and domain names, website content, rights in get-up, rights in goodwill or to sue for passing off, rights in designs, rights in computer software, database rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all applications (or rights to apply) for, and renewals or extensions of, such rights and all similar or equivalent rights or forms of protection which may now or in the future subsist in any part of the world.
  • “Introduced Client” means the Prospective Client which has been introduced to the Company by the Affiliate and for which the Affiliate mediated for the facilitation assistance towards the creation of awareness and to the successful conclusion of a contractual relationship between the Company and the Prospective Client in respect to the financial services the Company is licensed to provide and has not been accepted by the Company as its Client yet.
  • “Long Position” means a buy position that appreciates in value if market prices increase. In respect of Currency Pairs: buying the Base Currency against the Quote Currency.
  • “Margin Trading” means such trading when the Client may make Transactions having far less funds on the trading account in comparison with the transaction size.
  • “Necessary Margin” means the margin required by the Company to maintain Open Positions. The details for each Instrument are specified in the Products Specifications.
  • “Open Position” means a Long Position or a Short Position which is not a Completed Transaction.
  • “Operative Agreements” means the agreements entered into by the Client and the Company that govern all trading activity of the Client. Operative Agreements consist of the Account Opening Agreement, the Terms of Business, including in each case any addendums thereto and the risk disclosure notice, accessible through the Website as the same may be amended from time to time. In addition, it also includes the Best Execution Policy, Conflicts of Interest Policy, Complaints Handling Process, Investors Compensation Fund Policy, Privacy Policy and Client Categorisation Policy.
  • “Order” means an instruction from the Client to the Company to open or close a position when the price reaches the Order Level.
  • “Order Level” means the price indicated in the Order.
  • “Quote” means the information of the current price for a specific four decimal digit Instrument, in the form of the Bid and Ask prices.
  • “Quote Currency” means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.
  • “Pip” means equal to 10 points for CFDs on FX Currencies and 1 point for CFDs on Gold (“XAU”) and Silver (“XAG”). 1 Point for CFDs on FX Currencies, Gold and Silver shall mean the last or right-most digit of a quote.

Examples:

  • A. CFDs on FX Currencies: EURUSD: Open Price: 1.12345 Close Price: 1.12356 The difference between the Close and Open Price is 0.00011 → 11 points → 1.1 pips.

  • B. CFDs on XAU or XAG pairs: XAUUSD: Open Price: 1490.50 Close Price: 1490.60 The difference between the Close and Open Price is 0.10 → 10 points → 10 pips. XAGUSD: Open Price: 17.765 Close Price: 17.800 The difference between the Close and Open Price is 0.035 → 35 points → 35 pips.

  • “Place of Domicile” means the legal residence which is the place where the Affiliate considers it to be his/her permanent residence.

  • “Principal” means an individual who is:

    • a) a sole proprietor of a sole proprietorship;
    • b) a general partner of a partnership;
    • c) a director, president, chief executive officer, chief operating officer or chief financial officer of a corporation, limited liability company or limited partnership;
    • d) a manager, managing member or a member vested with the management authority for a limited liability company or limited liability partnership.
  • “Promotional Material” means any communication that relates to the Company or its services made to or directed at, or that relates in any way to the solicitation of a Prospective Client or a transaction in an Existing Client’s trading account. Promotional Material includes, but is not limited to, published written texts, training materials, advertisements, market analysis, and research reports, correspondence to Existing Clients or Prospective Clients, newsletters and generally anything written that assists in the solicitation process. Such promotional material will be provided by the Company to the Affiliate. Authorization to use such Promotional Material shall not be considered as relieving the Affiliate from any of its obligations to act as a mediator. It is herein understood that the Affiliate will be remunerated as a mediator.

  • “Proprietary Information” means information, including, but not limited to, trade secrets, formulae, methods techniques, confidential information, computations, knowledge, data or other information of either Party relating to software products, trading platform, trade routing systems, counterparties, processes, know-how, marketing, merchandising, selling ideas, selling concepts or other confidential information, forecasts, marketing plans, strategies, pricing strategies, computer programs, copyrightable materials, finances or other subject matter pertaining to any of the Parties’ business, or any of its clients, Clients, consultants or suppliers, which either Party may produce, use, view or otherwise acquire during the relationship created by this Agreement.

  • “Proprietary Property” means any property, including, but not limited to, Intellectual Property Rights, records, forms, trade literature, newsletters, market reports, articles, computer software and any reproduced copies or negatives thereof, and any Proprietary Information or such other information reflected or contained therein, provided and furnished by the Company or otherwise obtained by the Affiliate during the relationship created by this Agreement.

  • “Prospective Client” shall mean an individual or an entity which is identified by the Affiliate as a business opportunity for the conclusion of a financial contract by the Company, and which does not have an account with the Company and who has been introduced by the Affiliate for the purpose of concluding an agreement with the Company.

  • “Spread” shall mean the difference between Bid and Ask.

  • “Standard Lot” shall mean 100,000 units of any currency units.

  • “Transaction” shall mean any contract or transaction entered into or executed by the Client or on behalf of the Client arising under the Operative Agreements.

  • “Unlinked Client” means any Client which has been introduced to the Company by the Affiliate and wished to be unlinked from the Affiliate.

  • “Website” shall mean the Company’s website at https://fortunomarkets.com or such other websites as the Company may maintain from time to time for access by Clients.

  • “Written Notice” shall have the meaning set out in clause 12.

3.2. All references to a statutory provision include references to:

3.2.1. any statutory modification, consolidation or re-enactment of it, whether before or after the Effective Date of this Agreement, for the time being in force;
3.2.2. all statutory instruments or orders made pursuant to it; and
3.2.3. any statutory provision of which that statutory provision is a re-enactment or modification.

3.3. Words denoting the singular include the plural and vice versa; words denoting any gender include all genders; and words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.

3.4. Unless otherwise stated, reference to a clause, party, appendix or a schedule shall mean a clause or a party, appendix or schedule of this Agreement.

3.5. The clause headings are inserted for ease of reference only and do not affect the construction of this Agreement.

  • “Short Position” shall mean a sell position that appreciates in value if market prices fall. In respect of Currency Pairs: selling the Base Currency against the Quote Currency.

  • “Sub-Affiliate” shall mean any legal entity or a natural person obtaining remuneration from the Company for acting as mediator between Prospective Clients and the Company for the conclusion of an agreement between the Company and its Client, as per the provisions of the Affiliate Agreement, for the purpose of introducing clients to the Company, and is assigned under to another Affiliate.

4. Electronic Signatures and Affiliate Acceptance of Agreement(s)

4.1. The Affiliate hereby acknowledges that the following actions show his approval of this Agreement and agrees to all the terms and conditions set out in this Agreement:
a. By completing and/or submitting and/or accepting the Affiliates’ Online Application Form on the Company’s Main Website(s);
b. By continuing to access or use the Company’s Main Website(s);
c. By identifying suitable opportunities for the Company, soliciting clients and mediating for the generation of leads, consumer interest towards the products and services the Company ultimately referring Prospective Clients to the Company directly or through the Company’s Main Website(s) in line with the requirements and/or terms and conditions of this Agreement; and/or
d. By accepting any commissions and/or payments from the Company or any of its Clients for the action of mediation carried out.

4.2. Under the provisions of the Law on the Legal Framework for Electronic Signatures and other Related Matters (L.188(I)/2004), the Law on Certain Aspects of the Services of the Information Society and especially of Electronic Commerce and other Related Matters (L.156 (I)/2004) and the Distance Marketing of Consumer Financial Services Law (L.242 (I)/2004) a distance contract is legally binding upon the contractors without the requirement of a signature. The Affiliate hereby acknowledges that this Agreement and all of the terms and conditions thereof are legally binding upon him and breach of any of the terms and conditions of this Agreement shall give rise to possible legal actions, should out-of-court settlement does not prove of a sufficient settlement method of any matter arising out of or in connection with any term or condition of this Agreement.

4.3. The Affiliate further acknowledges and consents to the availability and/or provision of information through the Company’s website.

5. Representation and Warranties

5.1. The Affiliate, acting as a mediator, acknowledges that the Affiliate is aware of the contents and understands the Company’s Compliance and Anti Money Laundering Policies, as modified from time to time, and agrees to conduct the Affiliate’s business in accordance with the policies and procedures contained therein.

5.2. The Affiliate represents and warrants that all actions to be performed by him under this Agreement will comply with the International Business Companies (Amendment and Consolidation) Act of 2007 (herein the “Law”) and/or any other applicable laws and/or regulations, currently in effect in Saint Lucia as amended from time to time and/or any other laws and regulations which shall come into force after the Effective Date of this Agreement. The Affiliate hereby acknowledges that he is solely responsible for being updated on any matters related to the Law and/or any other applicable laws and regulations of Saint Lucia.

5.3. The Affiliate, acting as a mediator, must provide true and complete information to the Company at all times; including but not limited to his identity, contact information, payment instructions, nationality, residency, participation in any affiliate programs for other websites, the location and nature of the Affiliate’s intermediation activities carried out for the purposes of actively mediating for introducing Prospective Clients to the Company and for providing assistance for the successful conclusion of an Operative Agreement, and any other information that the Company may request from time to time. In addition, the Affiliate must provide to the Company the means to be used for introducing Prospective Clients to the Company. These means include, inter alia, the list of websites operated by Affiliates.

5.4. The Affiliate will carry on his operations and business as an independent contractor and not as an agent and/or employee and/or representative of the Company.

5.5. The Affiliate is not allowed and/or is restricted from providing investment advice to any of the Prospective Clients introduced by him to the Company.

5.6. The Company shall be responsible for the provision of information to the Clients with regards to any commissions and/or charges and/or fees and/or inducements received by the Affiliate under this Agreement. The Affiliate’s obligations under this Agreement shall be limited to the provision of intermediary financial services for the identification of suitable opportunities for the Company to provide the financial services it is licensed to provide including the generation of leads, creation of consumer interest and ultimately to the introduction of Prospective Clients to the Company. For the Prospective Clients the Affiliate will endeavor and carry out all actions deemed necessary so as for the Company to enter into a contractual relationship with Prospective Clients, including providing clarifications to the Prospective Clients in respect to the financial services offered by the Company and the Company’s business and policies.

5.7. The Affiliate represents and warrants that, in respect of the services contemplated under this Agreement, he shall comply with all applicable laws, statutes, regulations, and codes relating to anti-bribery and anti-corruption, by, amongst other things:
5.7.1. Maintaining adequate policies and procedures to ensure compliance with the applicable relevant requirements;
5.7.2. By signing this Agreement, the Affiliate certifies that he currently complies with the applicable relevant requirements. The Affiliate shall provide such supporting evidence of compliance as the Company may reasonably request;
5.7.3. Ensuring that any officer, employee, agent, representative or such other person connected to the Affiliate complies with the applicable relevant requirements.

5.8. Whenever requested, the Affiliate will provide details and evidence of his status and business and of the licensing and/or authorization requirements applicable to the Affiliate’s activities at the Company’s request.

5.9. In the case of the Affiliate maintaining a website for promoting his business then without limitation to the obligation of the Affiliate to act as a mediator the following functionalities and information should be included:
a. A link should be available directing Prospective Clients to the Company’s Main Website;
b. The Company’s information and/or logo and/or banners and/or brand names are provided to Prospective Clients with the prior written approval of the Company. In such a case the logo should indicate that it is the property of the Company and indicate that the website is a tool for registration of Prospective Clients with the Company. It is noted that the Company’s information, banners and any material to be included in the Affiliate’s website must be provided by the Company as described in clause 5.10.
c. The Affiliate is under the obligation to disclose the capacity in which it is acting, when contacting or before dealing with any Prospective Client. In addition, the Affiliate is required to place in an obvious location at its offices, including any branches it may possess, a clearly readable announcement, at which its capacity as Affiliate of the Company will be presented, alongside with the name of the Company and the Services to be provided.

5.10. The Company shall provide the Affiliate with all the necessary information and/or promotional material and/or any functionalities relating to the Company, that the Company wishes for the Affiliate to upload on his website. The Company shall also provide the Affiliate with any updates in relation to the information and/or promotional material and/or functionalities of the Company. The Company shall be entitled to conduct checks on the Affiliate’s website to ensure that the Affiliate does not upload any information and/or promotional material and/or functionalities of the Company which was not provided by the Company. The Affiliate is prohibited from making any alterations to the promotional material and/or functionalities provided by the Company, without the Company’s prior written consent.

5.11. For the avoidance of doubt, the obligations of the Affiliate to solicit Prospective Clients under this Agreement are not lifted in cases where the Clients reach the Company through the website of the Affiliate.

5.12. The Affiliate undertakes that he will not use the name and/or brand and/or any Proprietary Property or Proprietary Information or the trading platform of the Company in his dealings with any Prospective Client except for the purpose of introducing the Prospective Client to the Company.

5.13. The Affiliate is not allowed and/or is restricted from holding and/or operating a trading account for any Client and/or carry on any trades for any Client and/or providing any other service to the Client other than the services agreed under the terms and conditions of this Agreement. In addition, the Affiliate is not allowed and/or is restricted from accepting and keeping any Prospective Clients’ funds to be used in relation to the service offered. The Affiliate’s provision of services to the Company is limited only to the introduction of Prospective Clients to the Company, unless otherwise been agreed between Parties, in written form.

5.14. The Affiliate agrees that he will not in any way represent and/or imply to any Prospective Client that the Company provides guarantees against potential losses and/or limits potential losses of any Prospective Client.

5.15. The Affiliate is not allowed and/or is restricted from calling for or attempting to collect the required Initial Margin and/or Necessary Margin established by the Company and/or any other related matter to the collection of margin for the Company. The Affiliate will not act as an agent and/or representative and/or employee of the Company. The obligations of the Affiliate in relation to the Company is limited to the provision of intermediary financial services for the identification of suitable opportunities for the Company to provide the financial services it is licensed to provide including the generation of leads, creation of consumer interest to the products and services offered by the Company aiming to the successful introduction of Prospective Clients to the Company. For the Prospective Clients the Affiliate will endeavor and carry out all necessary actions so as for the Company to enter into an agreement with the Prospective Client, including providing clarifications to the Prospective Clients in respect to the financial services offered by the Company and the Company’s business and policies.

5.16. The Affiliate will promptly inform the Company of any regulatory and/or legal investigation or illegal interference into its commercial affairs, and will disclose to the Company details of any past sanctions imposed on the Affiliate during the last five (5) years, prior to the Effective Date of this Agreement.

5.17. The Affiliate acknowledges and agrees that he is responsible for the payment of all relevant duties and/or changes and/or taxes arising from the course if his business.

5.18. The Company shall be responsible for providing Clients with any disclosures required under applicable law and regulations, including without limitation, those disclosures required by the rules or regulations of self-regulatory organizations or exchanges of which the Company is a member. If the Affiliate is required under applicable laws and regulations to provide certain disclosures, the Affiliate will be responsible for providing such disclosures.

5.19. The Affiliate should regularly check the Company’s website for any updated Terms and Conditions of trading as well as any other disclosures or promotions issued by the Company and are available at the Company’s website.

5.20. The Affiliate is prohibited from communicating with a Potential Client who becomes a Client, unless otherwise been agreed between Parties, in written form.

5.21. In the event where the Affiliate is a legal entity, the Affiliate confirms and ensures that its employees shall execute and perform their duties and responsibilities in accordance with the provisions of the Agreement as well as the law and regulations for protection of data and any other legislation related to the provisions of their services.

5.22. The Affiliate must comply with any business related instructions or directions given by the Company in relation to the Company’s services.

5.23. The Affiliate assures that it will show best skill, interest, and high level of professionalism so as to satisfactorily fulfil his obligations arising under the Agreement. It is understood that the Affiliate shall undertake all necessary steps so as the Confidentiality obligations arising under this Agreement, to be extended to all employees, agents and/or representatives of the Affiliate.

5.24. It is understood that the Affiliate is not allowed to provide any other services which are not outlined in this Agreement, including without being limited to investment advisory, consulting, and advertising services, unless otherwise agreed between Parties, in written form.

6. Affiliate Relationship and Activities

6.1. The Affiliate will provide intermediary financial services for the purposes of identifying suitable opportunities for the Company to provide the financial services it is licensed to provide and act as a mediator carrying out all tasks necessary with the aim to introduce to the Company such Prospective Clients willing to trade with the financial products/services offered by the Company, including the provision of intermediary financial services for improving the quality of the services offered by the Company. For the Prospective Clients, the Affiliates will act as a facilitator and will endeavor and carry out all necessary actions, including negotiations with the Company and the Prospective Clients, so as for the Company to enter into a contractual relationship with the referred Prospective Client.

6.2. The Affiliate must provide the Prospective Client with his identification number, which will be provided to him during the opening of an affiliate account with the Company.

6.3. The Affiliate, acting as an intermediary between Prospective Clients and the Company shall support, where and if applicable, with providing assistance in completion of account registration forms for opening an account with the Company, collecting client documents, assisting the Prospective Clients with potential face-to-face meetings, following and assisting the Company with the implementation of its KYC and AML procedures that may include the safekeeping of documents and other assets provided by the Company or the Introduced Client.

6.4. To recognize and detect Prospective Clients that are suitable for the financial products and services the Company is licensed to provide, the Affiliate shall proceed with the following intermediary financial services:

  • Introduce and create consumer interest towards the financial products and services the Company is licensed to provide to its Clients;
  • Provide information and explanations to Prospective Clients with respect to the Company and the financial products and services the Company is licensed to provide;
  • If required by the Company, distribute to Prospective Clients information with respect to the Company and the financial products and services the Company is licensed to provide, through its website and/or through the organization of presentations and/or analysis of these financial products and services, educational seminars, campaigns, and other events;
  • Facilitate and explain to Prospective Clients the Company’s business and policies;
  • Assist with the collection and process of commercial and other information which may be required by the Company for the purposes of the evaluation exercise of the Prospective Clients carried out by the Company before the conclusion of a contractual relationship between the Company and the Prospective Clients.

6.5. The Affiliate shall inform any Prospective Client through the affiliate’s website that he is considered the Company’s Client and is subject to all of the Company’s rules, policies, and operating procedures as any other Client of the Company who has opened an account with the Company and has completed the verification process.

6.6. Non-funded and credit-funded accounts cannot be assigned to the Affiliate.

6.7. Nothing in this Agreement shall create an employment relationship between the Company and the Affiliate.

6.8. The Affiliate will carry on his operations and business as an independent contractor and not as an agent and/or employee and/or representative of the Company.

6.9. The Affiliate is not allowed and/or is restricted from providing investment advice to any of the Prospective Clients introduced by him to the Company.

6.10. The Company shall be responsible for the provision of information to the Clients regarding any commissions and/or charges and/or fees and/or inducements received by the Affiliate under this Agreement. The Affiliate’s obligations under this Agreement shall be limited to the provision of intermediary financial services for the identification of suitable opportunities for the Company to provide the financial services it is licensed to provide, including the generation of leads, creation of consumer interest, and ultimately to the introduction of Prospective Clients to the Company. For the Prospective Clients, the Affiliate will endeavor and carry out all actions deemed necessary so as for the Company to enter into a contractual relationship with Prospective Clients, including providing clarifications to the Prospective Clients in respect to the financial services offered by the Company and the Company’s business and policies.

6.11. The Affiliate, acting as a mediator, must provide true and complete information to the Company at all times; including but not limited to his identity, contact information, payment instructions, nationality, residency, participation in any affiliate programs for other websites, the location and nature of the Affiliate’s intermediation activities carried out for the purposes of actively mediating for introducing Prospective Clients to the Company and for providing assistance for the successful conclusion of an Operative Agreement, and any other information that the Company may request from time to time. In addition, the Affiliate must provide to the Company the means to be used for introducing Prospective Clients to the Company. These means include, inter alia, the list of websites operated by Affiliates.

6.12. The Company has the right to reject any Prospective Client who does not meet the Company’s criteria as set out in the Account Opening Agreement. The Affiliate hereby acknowledges and agrees that a Prospective Client will not be considered as the Company’s Client and therefore as introduced by the Affiliate if the Prospective Client is not approved by the Company in accordance with the Company’s policies and/or any applicable laws and regulations. In such a case, Prospective Client will not be considered as introduced by the Affiliate for the purposes of this Agreement and no remuneration will be provided by the Company to the Affiliate in connection with the specific Prospective Client.

6.13. In the event that an introduced Client’s archived trading account is subsequently restored, i.e., dormant/inactive accounts, the Affiliate’s Reference ID will not be automatically applied to the restored account. Assignment of the account back to the Affiliate’s Reference ID can be requested via email at [email protected].

6.14. The Affiliate will be solely responsible for any marketing and/or promotions costs or charges necessary for the provision of the intermediary financial services to the Company.

6.15. Subject to the terms and conditions of this Agreement and in accordance with the terms and conditions hereof, the Affiliate may actively mediate and as a result of the mediation actions refer Prospective Clients to the Company’s Main Websites(s) to facilitate explanations regarding the financial products offered by the Company and agrees that all mediation activities carried out to identify, target, and refer Prospective Clients to the Company must be professional, proper, and lawful under applicable rules and laws.

7. Commission Program

7.1. The Commission Program can be found on the Company’s website https://fortunomarkets.com. Commissions are subject to forfeiture should the Affiliate and/or the introduced Client breach any of the obligations under this Agreement and/or any other agreement between the Company and the introduced Client, the Complementary Agreement.

7.2. The Affiliate is entitled to the Affiliate’s Commission structure as agreed and set out in Appendix 1 of this Agreement, which forms an integral part of this Agreement and may not be subject to any changes unless agreed by both Parties otherwise. The Affiliate’s commission, which is a percentage-based commission on the net earnings from the fees received by the Company for the introduced Client, is provided as a consideration for the intermediary financial services provided and for actively acting as a mediator for the conclusion of a contractual relationship between the Company and the introduced Client.

7.3. An Affiliate who wishes to create different Campaigns may choose to receive different commission structures for all or some of his Introduced Clients. An Affiliate who wishes to create a Campaign should notify the Company via email at [email protected].

7.4. In case the Affiliate chooses to create a Campaign that will have a different commission structure than the one mentioned in Appendix 1 of this Agreement and the Company has consented, a Complementary Agreement needs to be signed by the Affiliate, which will be provided to him by the Company.

7.5. Each Campaign created by the Affiliate following the Company’s approval will have its unique Affiliate Campaign ID (“ACID”).

7.6. A Client is deemed to be under a Campaign created by the Affiliate if he opens a trading account with the Company by using the link(s) available in the Affiliate’s information resources or if he expressly requests from the Company to manually attach his account to a specific Campaign created by the Affiliate.

7.7. The Affiliate shall be able to identify the Affiliate commission generated by each Campaign he has created via his account area.

7.8. In case a Campaign is terminated by the Affiliate, it will be archived with immediate effect and cannot be re-activated. Once a Campaign has been archived, the following shall apply:
7.8.1. Any commission generated by a Client’s trading account that used to be under the archived Campaign will adhere to the commission structure of Appendix 1 of this Agreement, if different;
7.8.2. Any new Client’s account opened under the archived Campaign will adhere to the commission structure of Appendix 1 of this Agreement, if different.

7.9. The Affiliate’s commission on the trading account assigned under any Competition/Promotions is specified in the relevant Competition/Promotions Terms and Conditions.

7.10. The Company has the right to decrease the Affiliate commission structure at any time and shall provide prior notice to the Affiliate of such a decision.

7.11. The 10% Sub-Affiliate Commission can only be paid on currency pairs and gold from Affiliate Client accounts to which the 50% Revenue Share program has been applied. If a Client’s account is subject to any other program (other than 50% Revenue Share), the Sub-Affiliate commission will not be paid, unless specified by the Company at its sole and absolute discretion.

7.12. It should be noted that in the case an Affiliate is receiving a flat rate commission instead of a commission based on the pip value, Sub-Affiliate commission shall be by default 10% of the commission that an Affiliate is receiving for introduced clients on Forex, Gold, and Silver products only, unless otherwise specified by the Company.

7.13. The Affiliate has the option to share a percentage of the remuneration he receives from the Company, based on the Affiliate and/or Complementary Agreement, with any of the Clients the Affiliate has referred to the Company. The terms and conditions of Rebates are outlined below:

  • Rebates apply only to Clients of the Company who have been introduced by Affiliates.
  • If an Affiliate wishes to share a percentage of his received remuneration with his referred Clients, he must send an email to the Company at [email protected]. In the email, the Affiliate should specify the percentage of the rebate he wishes to share. The Company will review the request and, if approved, will set up the rebate structure for the referred Clients.

8. Prohibited Trading

8.1. The Affiliate shall not engage in any Prohibited Trading practices, including but not limited to:

  • Insider trading;
  • Market manipulation;
  • Fraudulent activities;
  • Any other activities that violate the Company’s terms and conditions or any applicable laws and regulations.

8.2. The Company reserves the right to take action against any Affiliate suspected of engaging in Prohibited Trading practices, including but not limited to:

  • Terminating the Affiliate Agreement;
  • Confiscating any commissions earned from Prohibited Trading activities;
  • Taking legal action against the Affiliate.

9. Payments

9.1. The Affiliate shall receive payment as per the Commission Structure outlined in Appendix 1, which forms an integral part of this Agreement.

9.2. Only fully verified Affiliate Accounts are eligible to receive Affiliate Commission Payments. Any sub-affiliate commission shall be paid when the Sub-Affiliate Account becomes fully verified. If an Affiliate Account is never fully verified, any Affiliate or Sub-Affiliate Commission will be canceled.

9.3. All payments will be due and payable in United States Dollars unless mutually agreed otherwise.

9.4. Payments will be done on a daily basis from Monday to Friday between 8:00 a.m. and 17:00 p.m. server time and will be credited to the Affiliate’s Wallet/account. The Affiliate acknowledges that the payout of Affiliate commission on any given payout date may be delayed up to a maximum of 2 (two) business days.

9.5. The Affiliate commission payment is processed to the Affiliate’s account. Commission paid to the account may be withdrawn by the Affiliate by submitting a withdrawal request via one of the methods available on the Company’s website.

9.6. Affiliate commission payout is completed only once the commission amount exceeds $5 (Five US Dollars) on the date of payout.

9.7. The Company reserves the right to void any unpaid and/or pending Affiliate commission generated from a particular trade if the commission amount of that trade has remained unpaid and/or pending for a period exceeding 365 (three hundred sixty-five) days following the closure date of that trade.

9.8. All paid transactions and their corresponding entries that are older than 3 (three) months are automatically archived by the system and can be provided only upon request.

9.9. Affiliate commission is only paid once the Affiliate actively mediates between the Company and the Client, and the intermediary financial services provided result in the referral of at least 1 (one) Client to the Company.

9.10. In the case that a credit card chargeback is submitted by a Client referred by the Affiliate, all Affiliate commissions generated by the specific account will be canceled. If the chargeback occurs after the commission payment date, commissions will be removed retrospectively.

9.11. Notwithstanding the above, if the Company suspects or has reason to believe that a Client abused or acted in bad faith or identified any abuse in the trading activity of the Clients, such as opening and closing trades instantly for the purpose of generating commissions, the Company reserves the right to suspend the payment of fees due to the Affiliate in relation to such a Client or close the Affiliate’s account. This clause also applies if the Affiliate is found to be in breach of any term of this Agreement.

9.12. The Affiliate acknowledges, agrees, and understands that the Company, without prior notice to the Affiliate, reserves the right at its sole and absolute discretion, to void and/or forfeit any type of affiliate commissions, rebates, bonuses, success and performance fees, prizes, or credits which have been paid and/or are due to be paid to the Affiliate’s Account and/or Trading Account, if the Affiliate has not logged into his Account for a period of twenty-four (24) months.


10. Term

10.1. This Agreement will come into force from the Effective Date and will remain in force until it is terminated in accordance with clause 11.2 below.

11. Amendment and Termination

11.1. This Agreement may be amended from time to time. No modifications, supplements, and/or amendments to this Agreement shall be binding except when made in writing by the Company and notified to the Affiliate. Any changes to the Agreement will not apply to any transaction performed prior to the date on which the changes become effective unless specifically agreed otherwise. The Affiliate shall receive a notification in advance of the proposed changes. The Affiliate shall confirm his acceptance of the proposed changes in order to continue his business relationship with the Company. Should the Affiliate disagree with the changes, he may terminate the Agreement under the provisions of this Agreement.

11.2. Either Party can terminate the Agreement by giving 5 (five) business days Written Notice to the other Party.

11.3. The Company reserves the right to terminate this Agreement without notice due to any malpractice, breach, failure, or other significant event, including liquidation or insolvency, on the part of the Affiliate. Such termination will be at the sole discretion of the Company.

11.4. The Company has the right to terminate this Agreement with immediate effect and upon prior notice to the Affiliate if the terms of this Agreement have been declared invalid or void by virtue of legislative requirements and/or any recommendations issued by any regulatory authority. The Company undertakes to settle any of its obligations to the Affiliate until the date which the terms of the Agreement have been declared invalid or void.

11.5. The Company has the right to terminate this Agreement if the Affiliate refers less than 3 (three) Clients within a 30 (thirty) day period from the Effective Date of this Agreement.

11.6. The Company has the right to terminate this Agreement if an Affiliate has no active clients for 30 (thirty) consecutive days. An Affiliate’s own trading account cannot be considered and defined within the meaning of an active account.

11.7. The Company has the right to terminate this Agreement if the Affiliate’s unpaid commission has not exceeded 50 USD within the past 6 months from the last payout date or from the activation of the account. In such case, the Company has the right to void the unpaid commission unless agreed otherwise.

11.8. If the Company suspects or has reasons to believe that an Affiliate and/or an introduced Client is involved in any form of fraudulent activities and/or the Affiliate or the Client has involved the Company directly or indirectly in any type of fraud, the Company reserves the right to:

  • Fully investigate using best judgment to determine the existence of fraud;
  • Terminate this Agreement with immediate notice to the Affiliate;
  • Terminate any agreement concluded with any introduced Client;
  • Take any legal action against the Affiliate and/or the Client and/or claim any damages deemed fit by the Courts of Saint Lucia.

11.9. Upon termination of the Agreement, the Affiliate is obligated to return to the Company any Company materials used to provide the intermediary financial services to the Company and for the purposes of expanding his business (e.g., newsletters, banners, text, etc.). In the case where the Affiliate maintains a website and is using any Company materials, he is obligated to immediately withdraw such materials upon termination of the Agreement. In addition, any access to the Company’s database of promotional material is removed.

11.10. Upon termination of this Agreement, the Company warrants to pay the Affiliate any fees due to the latter as set out in this Agreement, provided that any such amount has been generated as a result of the proper fulfilment of the terms of this Agreement.

11.11. Furthermore, the Company may terminate this Agreement forthwith for cause, upon written notice to the Affiliate if:

  • It becomes unlawful for the Company and/or the Affiliate to perform or comply with any one or more of the Affiliate’s obligations under this Agreement; or
  • The Affiliate ceases, in the Company’s reasonable opinion, to be fit and proper to provide intermediary financial services aiming to the conclusion of a contractual relationship between Prospective Clients and the Company, if the Affiliate no longer holds the necessary authorization, license, or consent to perform the obligation under this Agreement or if he is prevented for any reason from carrying out the activities and/or obligations hereunder;
  • The Affiliate has been accused of any regulatory and/or legal investigation or illegal interference into its commercial affairs, or any past sanctions imposed on the Affiliate;
  • In the event of any change in the applicable law or governmental regulations.

11.12. Each Party shall pay its own tax and duties.

11.13. Records, Reports:

  • 11.13.1. It is the Affiliate’s sole responsibility to associate the Affiliate ID with Clients making use of the Trading Services by using Tags provided by the Company or otherwise informing the Company in writing as to its Traders ID.
  • 11.13.2. It is the Company’s sole responsibility and obligation to track the activity of the Clients and all traffic associated with the Affiliate’s ID for the duration needed for the Company to fulfil its obligations under this Agreement in full.
  • 11.13.3. Daily Report. Throughout the Term, the Company shall provide the Affiliate with an online report which includes information regarding the amount of commission paid.

11.14. Power, Authorization, and Validity: Each Party represents that it has the right, power, legal capacity, and authority to enter into and perform its obligations under this Agreement, and all agreements to which the Party is or will be a party that are required to be executed pursuant to this Agreement. The execution, delivery, and performance of this Agreement have been duly and validly approved and authorized by the Party’s authorized organ (e.g., board of directors).

11.15. Litigation: Each Party confirms that there is no claim, action, suit, or proceeding pending or, to the Party’s knowledge, threatened, against the Party at law, in equity, by way of arbitration, or before any governmental department, commission, board, or agency that might have a material adverse effect on the other Party, nor is the Party aware of any reasonable basis thereof.


12. Written Notice

12.1. Any Written Notice under this Agreement may be made or given by any of the following means:

  • 12.1.1. Email;
  • 12.1.2. Facsimile transmission;
  • 12.1.3. Post; or
  • 12.1.4. Published on Company’s Websites.

12.2. All contact details provided by the Affiliate, e.g., address, email address, or fax number as last notified will be used as applicable.

12.3. Any such Written Notice will be deemed to have been served:

  • 12.3.1. If sent by email, within one hour after emailing it, unless a “not sent” or “not received” notice is received from the email server;
  • 12.3.2. If sent by fax, at the completion of transmission during business hours at its destination or, if not within business hours, at the opening of the next period of business hours, but subject to:
    • 12.3.3. Proof by the sender that the sender holds a printed transmission report confirming dispatch of the transmitted notice; and
    • 12.3.4. The sender not receiving any telephone calls from the recipient within 1 (one) hour from the above time, that the fax has not been received in a legible form.
  • 12.3.5. If sent by post, seven calendar days after posting it;
  • 12.3.6. If posted on the Company News Webpage, within one hour after it has been posted.

13. Personal Data and Recording of Telephone Calls

13.1. The Company may use, store, or otherwise process personal information provided by the Affiliate.

13.2. By entering into this Agreement, the Affiliate will be consenting to the transmittal of the Affiliate’s personal data (and/or have obtained consent from individuals working on the Affiliate’s behalf).

13.3. The Affiliate agrees that the Company may pass information about the Affiliate, which the Affiliate has provided to the Company, to help the Company process and/or analyze it as a part of fulfilling the Company’s obligations under this Agreement. If the Affiliate does not wish the Affiliate’s personal data to be used for such purposes, the Affiliate shall give the Company Written Notice.

13.4. Such personal data may also be used for marketing purposes or to conduct market research for the Company that may use the personal data to bring to the attention of the Affiliate products and services that may be of interest to the Affiliate. If the Affiliate does not wish the Affiliate’s personal data to be held for such purposes, the Affiliate shall give the Company Written Notice.

13.5. Telephone conversations between the Affiliate and the Company may be recorded. All instructions received by telephone will be binding as if received in writing. Any recordings shall be and remain the sole property of the Company and will be accepted by the Affiliate as conclusive evidence of the instructions or conversations so recorded. The Affiliate agrees that the Company may deliver copies of transcripts of such recordings to any court, regulatory, or government authority.

14. Confidentiality

14.1. The information which the Parties hold about Prospective Clients or Existing Clients is confidential and will not be used for any purpose other than as described in this Agreement. Information of a confidential nature will be treated as such provided that such information is not already in the public domain. Information of a confidential nature will only be disclosed to any person other than an associated entity of the Company, in the following circumstances:

  • 14.1.1. Where required by law or if requested by any regulatory authority or exchange having control or jurisdiction over the Company or the Affiliate (or any respective associate);
  • 14.1.2. To investigate or prevent fraud or other illegal activity;
  • 14.1.3. To any third party in connection with the provision of intermediary financial services that the Affiliate provides to the Company.

14.2. The Affiliate agrees to keep confidential and not to disclose to any person, any Proprietary Property, marketing information, promotional material, and/or any other information related to the Company’s business, which may come to the attention of the Affiliate during the performance of his obligations under this Agreement, and to use such information solely for the purposes of fulfilling his obligations under this Agreement.

14.3. The Affiliate must not use the information of the Company for any purpose other than performing his obligations under this Agreement and must protect the information against unauthorized use, publication, or disclosure.


15. Proprietary Property

15.1. The Affiliate acknowledges that all Proprietary Property provided to the Affiliate by the Company shall remain the property of the Company.

15.2. The Affiliate agrees to use the Proprietary Property only for the purposes of performing its obligations under this Agreement and to return it to the Company upon termination of this Agreement.

15.3. The Affiliate shall not copy, reproduce, or use in any way, any of the Proprietary Property, except as authorized by the Company in writing.


16. Force Majeure

16.1. Neither Party shall be liable for any failure or delay in performing its obligations under this Agreement if such failure or delay is due to a Force Majeure Event.

16.2. A Force Majeure Event includes, but is not limited to, acts of God, war, riots, civil commotion, acts of terrorism, governmental actions, strikes, lockouts, and other industrial disputes, fire, flood, or any other circumstances beyond the reasonable control of the Parties.

16.3. If a Force Majeure Event occurs, the affected Party must notify the other Party in writing as soon as reasonably possible. The notice must specify the nature of the Force Majeure Event, the anticipated duration, and the steps being taken to remedy the situation.

16.4. If the Force Majeure Event continues for a period of 30 days or more, either Party may terminate this Agreement by giving 10 days written notice to the other Party.


17. Exclusion of Liability

17.1. The Company shall not be liable for any indirect, incidental, special, punitive, or consequential damages, including but not limited to, loss of profits, revenue, data, or use, incurred by the Affiliate, whether in an action in contract or tort, even if the Company has been advised of the possibility of such damages.

17.2. The Company’s total liability to the Affiliate for any cause of action arising out of or related to this Agreement shall not exceed the total amount of commissions paid to the Affiliate under this Agreement.


18. Indemnity

18.1. The Affiliate agrees to indemnify and hold the Company, its directors, officers, employees, and agents harmless from and against any and all claims, liabilities, damages, losses, and expenses, including legal fees and costs, arising out of or in any way connected with:

  • 18.1.1. The Affiliate’s breach of any term of this Agreement;
  • 18.1.2. The Affiliate’s violation of any law or regulation;
  • 18.1.3. Any third-party claim arising out of or related to the Affiliate’s services or actions.

18.2. The Company agrees to indemnify and hold the Affiliate, its directors, officers, employees, and agents harmless from and against any and all claims, liabilities, damages, losses, and expenses, including legal fees and costs, arising out of or in any way connected with:

  • 18.2.1. The Company’s breach of any term of this Agreement;
  • 18.2.2. The Company’s violation of any law or regulation;
  • 18.2.3. Any third-party claim arising out of or related to the Company’s services or actions.

19. Governing Language

19.1. This Agreement is made in English, and in the case of inconsistency between the English text and its translation into any other language, the English version shall prevail.


20. Governing Law and Jurisdiction

20.1. This Agreement shall be governed by and construed in accordance with the laws of Saint Lucia.

20.2. The Parties agree to submit to the exclusive jurisdiction of the courts of Saint Lucia for the resolution of any disputes arising out of or in connection with this Agreement.


21. Dispute Resolution

21.1. The Parties shall attempt to resolve any dispute arising out of or in connection with this Agreement through good faith negotiations.

21.2. If the Parties are unable to resolve the dispute through negotiations, either Party may refer the dispute to mediation.

21.3. If the dispute is not resolved through mediation, the Parties agree to submit the dispute to arbitration in accordance with the rules of the Saint Lucia Arbitration Center.


22. Assignment

22.1. The Affiliate may not assign or transfer any of its rights or obligations under this Agreement without the prior written consent of the Company.

22.2. The Company may assign or transfer any of its rights or obligations under this Agreement without the prior written consent of the Affiliate.

23. Appendix

23.1. A Client is deemed to have been introduced by an Affiliate or Sub-Affiliate if the Affiliate or Sub-Affiliate mediated and provided intermediary services aiming to the conclusion of a contractual relationship between the Company and the Client and the Client opens a trading account with the Company using the link(s) available in the Affiliates’ or Sub-Affiliate’s information resources or via Client’s account area by adding the Affiliate’s ID at the time of Account Opening.

23.2. Affiliates and their relatives and Affiliates’ affiliated entities cannot be linked as parent and Sub-Affiliates.

23.3. An Affiliate or Sub-Affiliate shall not be restricted from placing his own account as a referral and receiving Affiliate Commission as per the terms and conditions of this Agreement.

23.4. Notwithstanding the right conferred to the Affiliate by clause 2 of this Appendix, the Company reserves the right in any given payout date to withhold and/or cancel the commission generated from an Affiliate’s own account at its sole and absolute discretion without providing any notice and/or reasons to the Affiliate. In addition, the Company reserves the right in any given payout date to withhold and/or cancel the commission generated from an Affiliate’s own account if it is significantly more than the commission generated from the Introduced Clients’ accounts. 

23.5. Trades open for less than 2 (two) minutes will be subject to a 100% (One Hundred percent) reduction of the Affiliate or Sub-Affiliate commission.

23.6. In the case where the total amount of the Affiliate’s commission from a trading account exceeds 60% (Sixty percent) of total deposits for the specific account, the Company reserves the right to correct the total amount of commissions to comply with 60% (Sixty percent) of net deposits.

23.7. The Affiliate’s or Sub-Affiliate’s Commission varies as it is based on the pip value i.e., different value of commission applies to positions which have been opened at different pip values. Notwithstanding the provisions of this Appendix, it should be noted that the Company reserves the right, at its sole and absolute discretion, to provide the Affiliate a flat rate commission for Forex, Gold, and Silver only, instead of a commission based on the pip value.

23.8. The Company will not pay Affiliate or Sub-Affiliate’s commission on deals from which the margin arises from the bonus funds.

23.9. Unless otherwise specified by the Company, on Zero Spread Accounts, the Affiliate or Sub-Affiliate’s commission shall be either 30% (Thirty percent) of the pip value on currency pairs, gold, and silver only, or 1 USD per standard lot on currency pairs and 2 USD per standard lot on gold and silver only.

23.10.Unless otherwise specified by the Company, on Pro Accounts, the Affiliate or Sub-Affiliate’s commission shall be 0.5 USD per standard lot on currency pairs and 1 USD per standard lot on gold and silver only.

23.11. On Platinum Accounts, the Affiliate commission is 10% (ten percent) of the pip value on currency pairs, gold, silver, and energies. Commission on spot indices and US Shares is based on the table in the Affiliate’s account area.

23.12. Unless otherwise specified by the Company, on Copy Trading Accounts, the Affiliate or Sub-Affiliate’s commission is 60% (Sixty percent) of the pip value on currency pairs, gold, and silver only, or as per the table shown in the Affiliate’s account area.

23.13. Unless otherwise specified by the Company, on Cents account, the Affiliate commission is 60% (Sixty percent) of the pip value on forex, gold, and silver only, or as per the table shown in the Affiliate’s account area. It should be noted that on a Cents account, one lot equals 1,000 Units.

23.14. Unless otherwise specified by the Company, on Fortuno Markets Platform trading accounts (tradeable within the Fortuno Markets App), the Affiliate commission is 60% (Sixty percent) of regular commission, or as per the table shown in the Affiliate’s account area.

Example:

  • A Client referred by the Affiliate opens a trading account and starts trading EUR/USD.
  • The Client makes a total of 100 single lot trades, each with a regular commission of $10/lot.
  • The total regular commission generated by the Client is $1,000.
  • The Affiliate commission at 60% of the regular commission is $600.

23.15. In the event that commissions are overpaid or are paid in error due to a system failure or human intervention, the Company reserves the right to deduct the amount in question from the Affiliate’s account with immediate effect and without prior notice. In the event that the balance of the Affiliate’s account is insufficient to cover the amount that has been overpaid/paid in error, the Company will set the amount owed against future payments from the Client’s account until such time that the amount has been paid in full.

23.16. When increased Affiliate or Sub-Affiliate commission is applied, it is applied for Forex Instruments only unless stated differently.

23.17. No Affiliate or Sub-Affiliate commission is generated on trades that are close by Hedge as the volume of the trade becomes 0.

23.18. No Affiliate or Sub-Affiliate commission will be generated unless the following are fulfilled:

  • a. Affiliate account opening is duly completed and Affiliate is being approved;
  • b. Affiliate accepts terms of this Agreement;
  • c. Terms of this Agreement are duly covered;
  • d. Complementary Agreement, if any, is being agreed and provided to the Company duly signed.

23.19. In case the Company has any reasonable beliefs that the Affiliate is not complying with the Company’s agreements, including, but not limited to this Agreement, the Company may delay the payment.

23.20. The Company correlates the Affiliates or Sub-Affiliate Commission amount earned by the Affiliates with the negative financial performance of the Company subject to financial penalties and/or clawback arrangements. The Company might deduct up to 100% of the total Affiliates Commission if an Affiliate:

  • a. participated in or was responsible for conduct which resulted in significant losses to the Company; and/or
  • b. failed to meet appropriate standards of fitness and propriety; and/or
  • c. Company received a number of complaints from clients introduced by the Affiliate.

23.21. For each “Standard Lot” round turn transaction that is executed by a Client who has been or is identified as introduced and/or referred by the Affiliate or Sub-Affiliate to the Company, the Affiliate will receive the commission as per the table available through the Affiliate’s account area.