Insurance bonus

This agreement complements the User Agreement, which can be found in the relevant section of this site. When the Client accepts the terms of the User Agreement, he also  accepts the Insurance Bonus Agreement.

The insurance bonus, which the Company gives to the Client, is called the Fenix Insurance Bonus (hereinafter referred to as the Insurance Bonus or Bonus).

1.1. When the Client receives bonus on the Client’s Account, this Bonus Agreement is possible to be applied to any trading account of the Client (if the Client has more than one trading account). The following Bonus Agreement complements the User Agreement. The Client also accepts the User Agreement when he agrees on the terms of Bonus Agreement. 

Every verified Client can get the insurance bonus to cover losses while trading in financial markets.

2.1. The Client understands that bonus funds belong to the Company; they are credited to the Client’s Trading Account to provide secure opened trading orders, and to increase the leverage on the account.

2.1.1. It is strictly banned to pass on or sell bonuses to a third party. Bonuses are attached to a specific Trading account and are impossible to be transferred to another Trading Account under certain conditions. The only exception is when the company deducts bonus funds if the Client fulfills the terms and conditions of the Bonus policy.

2.2. The Bonus should be considered as active (in use) when the first trading order on the Client’s Trading Account is executed. The Client reserves the right to refuse to use the bonuses before opening the first trading order. 

The bonus can be charged within one week from the moment the Client sent a written request to the Company to the email address [email protected] .

  1. The bonus can be charged to a trading account even if other bonuses are already on the account (but so that the total sum is less than 100% of the total sum of the Client’s deposit).
  2. The terms of the Bonus Agreement are considered as fulfilled only when the Client has executed BUY or SELL deals in a total volume equal to X*7 standard lots* for every 100 dollars of the granted bonus, where X = the amount of the bonus/100.

For example: The insurance bonus amounts to 1,000 USD. Thus, to completely withdraw the profit, it is necessary to make BUY or SELL transactions in the amount of 70 standard lots. The trading operation is believed executed if it was being traded at the time of fixing the trade operation not less than:

5 minutes for all contracts;

50 pips for major currency pairs (EUR \ USD, GBP \ USD, USD \ JPY, AUD \ USD, NZD \ USD, USD \ CAD, USD \ CHF), for pairs with a five-digit quotation and for a pair of USD \ JPY with a three-digit quotation;

100 pips for cross rates (in pairs with a five-digit quotation and in currency pairs with a Japanese yen with a three-digit quotation);

1500 pips for exotic currency pairs (in pairs with a five-digit quotation and currency pairs with a three-digit quotation (in which there is a Japanese yen or a Hungarian forint);

150 pips for currency pairs USD \ RUB and EUR \ RUB (four-digit quotation).

The company has the right not to warn the Client or explain the reason of rejecting an application for the bonus recall*.

When the Insurance bonus is credited, the profit can be withdrawn without restriction in case all the terms and conditions of this Agreement are met.

  1. The Company keeps the right not to notify the Client about the decision to cancel the Insurance Bonus. Regarding this fact, the Company does not recommend to use the Bonus when calculating the profitability of the trading strategy. The Company is not liable for the consequences of the bonus cancellation (including Stop Out), since the credited Bonus belongs to the Company until it is processed through opening the necessary number of lots specified in clause 4 of this agreement **.
  2. The client understands that if there are signs or suspects of the Client from the part of the Company in abuse of the bonus program, the Company keeps the right to cancel the Bonus and correct the profit (received using the Bonus) to the bonus amount without warning and explaining reasons. The client agrees on the possible risks the Company takes.
  3. The Company may choose on its own to calculate and distribute profits obtained through bonus funds from the moment of the registration of the trading account or from the time bonus funds are replenished to the account. The profits will be calculated and distributed proportionally between the Client’s real funds and bonus funds on the Client’s account. At the same time, some part of the profit proportional to the sum of the bonus cannot be available for withdrawal from the trading account until the bonus part is processed under the rules of this Agreement.
  4. The Client understands that in case when the level of the current funds (equity) decreases on the account below the Bonus on the account, i.e. when reaching a point of current losses that exceed the client’s real funds on the trading account, then all sums will be calculated as bonus funds in full if no subsequent deposits are available on the account. 

If the Client deposits, the funds on the account are calculated and distributed between the bonuses and real Client’s funds in proportion to the sum of the deposit and the value of the bonus funds at the time of depositing.

  1. The Company may change or supplement the terms of this Agreement without prior notice to the Client.
  2. The insurance bonus can be used for trading with any instruments. The Bonus is replenished to the “Credit” section.
  3. To have the bonus funds recalled from the Trading Account by the Company, the Client has to send a request to the email address [email protected] if the necessary number of lots is executed. The Bonus that is going to be recalled should be available on the Trading Account in full size at the moment of such a request. The company keeps the right not to explain the reason for rejecting the application. It is possible to recall only full amount of the bonus – a partial deduction of the bonus funds is impossible.

12. The main language of the Agreement is English. If there are any discrepancies between the English version of the Agreement and its translation, the English version is thought a priority.

 

* The lot for working out the bonus funds is equal to the volume of 100,000 dollars / euros, depending on the currency of the account

** These measures are aimed at preventing fraud by Clients in relation to the Company. Their application does not mean that all accounts, getting under the cancellation of previously received Bonuses by the Company, are violators of any clauses of this Agreement. The probability of an erroneous cancellation of Bonuses in order to fight against abuse of the bonus system does not exceed 10%.