This agreement complements the User Agreement, which can be found in the relevant section of this site. If the Client accepts the terms of the User Agreement, he also accepts the Welcome Bonus Agreement.
The Welcome Bonus deposited by the Company to the Client’s Account is called the Fenix Welcome Bonus (hereinafter the Welcome Bonus or Bonus).
1.1. When a client receives a bonus on the Client’s account, this Bonus Agreement is applied to all trading accounts of the client (if the Client owns more than one trading account). This Bonus Agreement complements the User Agreement. When a Client accepts the terms of the Bonus Agreement, he also accepts the terms of the User Agreement.
Every Client of the FenixSecurities Company has the right to get the Bonus. The maximum sum of Bonus that can be put on the Client’s trading account is 50% from the initial deposited sum. The Bonus can be credited to the client’s trading account no later than one week after the initial deposit. The Bonus can only be credited to the Client’s Trading Account if there are available deposited funds to the trading account at the moment the manager considers the bonus application.
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 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 credited to any trading account even if there are other types of bonuses on the account (insurance or standard bonus). All bonus funds granted to the client’s account should be worked out together.
While applying the permanent bonus*, the Client reserves the right to obtain the Bonus in the amount of 50% from the deposited sum each time when the Trading Account is replenished. The amount of Bonus that can be credited totals 50% of the next deposited amount.
The Client agrees that it will not be temporarily possible to withdraw from the Trading Account until the Client adheres all of the requirements of the Bonus Policy.
- When the Client’s trading account is credited with Welcome Bonus, the identification documents for account verification are not always requested; however, the Company has the right to ask for such information in the future.
The gained profit from the Bonus can be withdrawn after making BUY or SELL deals in a total volume equal to X*7 standard lots** for every 100 USD of the Bonus, where X is the Bonus amount / 100.
For example: Welcome Bonus is 1,000 USD. So, to completely withdraw the profit, it is necessary to execute BUY or SELL operations in the amount of 70 standard lots. The operation will be considered as 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), as well as for pairs with a five-digit quotation and for the pair USD \ JPY with a three-digit quotation;
100 pips for cross rates (in pairs with a five-digit quotation as well as in 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 profit from the Welcome Bonus can be withdrawn without restriction if all the terms of this Agreement are met.
The Company has the right not to warn the Client in case of recalling the bonus funds **; thus do not take the Bonus funds into consideration 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.
- The Company reserves the right not to explain the reasons for canceling the Client’s request to recall the bonus funds***.
7.1. 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. There is a possibility of proportionality of the profits on the account with the deposit. The client accepts the possible risks the Company takes when cancelling the bonus****.
- 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 specified in clause 6 of this Agreement.
- 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.
- The Company may change or supplement the terms of this Agreement without prior notification of the Client.
The insurance bonus can be used for trading with any instruments. The Bonus is replenished to the “Credit” section.
- 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. It is possible to recall only a full amount of the bonus – a partial deduction of the bonus funds is impossible.
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.
* To apply for a permanent bonus, the Client must contact the company with a corresponding written request
** Lot for working out the bonus is equal to the volume of 100 000 dollars / euro depending on the currency of the account
*** If on the account, apart from the Welcome Bonus there is a bonus of any other type then bonus funds are worked out together.
**** 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%.