CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Terms and conditions

  1. These terms and conditions (“Rules”) apply to the Refer a Friend promotion (“Promotion”). By participating in the Promotion, you agree to be bound by these Rules.

  1. To qualify for the Promotion, the person making the referral (“you”) must:
  • hold an existing personal or corporate domestic CFD account with IG Markets South Africa Limited, authorised and regulated by the Financial Sector Conduct Authority (in South Africa), FSP number 41393 and whose registered address in South Africa is The Place, 1 Sandton Drive, Sandton, Gauteng, 2196, South Africa (“we”, “us”, “IG” or “our”); and
  • be a direct client of IG.

  1. This Promotion does not apply to international accounts held with IG Markets Limited.

  1. If you have any introduction or introduction-type arrangement with IG or any IG group company, any referrals thereunder will not qualify for the Promotion.

  1. You must have an existing business or personal relationship with the person you would like to refer (“Your Friend”). Your Friend must be:
  • an individual who is 18 years or older; and
  • a new client to IG (not having previously held an account with IG or any other IG group company).

  1. To participate in the Promotion, you must share the unique URL provided to you as part of this Promotion with Your Friends that you believe would be interested in IG’s products or services. You may refer up to a maximum of five people under this Promotion.

  1. To qualify for the Promotion, Your Friend is required to:
  • open and have activated a personal domestic CFD account with IG through the unique URL shared by you (“Account”) within three months of you sharing the unique URL with them; and
  • trade in line with the tiers set out in clause 8 within months 1 to 3 of their Account being activated.
  • The month in which their Account is activated will be considered as month 0, the following calendar month will be month 1, and so on. If Your Friend places the number of ‘qualifying trades’ on their Account in line with the tiers set out in clause 8 during months 1 to 3, once they have reached the end of month 3 Your Friend will be eligible to be an active referral (“Active Referral”). The Promotion does not apply to the opening of an international account with IG Markets Limited.

  1. Reward payment tiers
  • Tier 1: If Your Friend places 10 ‘qualifying trades’ on their Account before the end of month 3, the reward payment to you will be ZAR1,000;
  • Tier 2: If Your Friend places 25 ‘qualifying trades’ on their Account before the end of month 3, the reward payment to you will be ZAR2,500;
  • Tier 3: If Your Friend places 50 ‘qualifying trades’ on their Account before the end of month 3, the reward payment to you will be ZAR5,000; or
  • Tier 4: If Your Friend places 100 ‘qualifying trades’ on their Account before the end of month 3, the reward payment to you will be ZAR10,000, (“Refer a Friend Reward”). For the avoidance of doubt, month 0 will not be taken into consideration.
  • A ‘qualifying trade’ is a CFD with a minimum size of one Standard, Mini or Micro contract on SAF40 (South Africa 40 index), RESI (South Africa Resources Index) or FINI (South Africa Financial Index) or 1 share on JSE CFD Equity on which you have paid commission (subject to any applicable promotional offers).

  1. All accounts are subject to our standard account opening criteria and accounts are available subject to certain jurisdictional restrictions, and as such not all applicants will be successful in their application for an account.

  1. Further to clause 7, within 30 days after the end of month 3 and your Friend becoming an Active Referral, you will receive the Refer a Friend Reward posted to your default IG domestic CFD account. The Refer a Friend Reward will be in line with the tiers set out in clause 8.

  1. If any restrictions apply to your account or the account of Your Friend, the referral will not qualify as an Active Referral until the restrictions have been lifted. Any restrictions that apply to a new account will be detailed in the email to the account holder upon account activation. The referral will not qualify as an Active Referral if your account or the account of Your Friend is closed for any reason.

  1. The referral will not qualify as an Active Referral if you have a power of attorney over the account of Your Friend. You cannot refer yourself via a joint account or refer a member of the same household.

  1. You can only refer an individual to an IG group company once. If you have referred an individual to any IG group company, you cannot refer the same individual again to that IG group company or another company in the IG group.

  1. The Promotion is not open to employees of IG or any IG group company or employees of any other company engaged in direct competition with IG or any IG group company.

  1. IG reserves the right to remove the Refer a Friend Reward or substitute the Refer a Friend Reward offered with another item of the same value, at its sole discretion, from time to time and without prior notice to you or Your Friend.

  1. The Promotion and any obligations of IG pursuant to it will be revoked or withdrawn from participants who abuse the spirit or intention of it. We reserve the right to cancel or withdraw the Promotion at any time in case of any suspected abuse of the Promotion. Further, where any of these Rules are breached, if we believe that any of the terms of your Customer Agreement with us have been breached in any way, you no longer have an account with IG or there is any reason to suspect a participant has acted fraudulently or obtained an unfair or unintended advantage pursuant to this Promotion, we reserve the right to stop, withhold or cancel payment of the Refer a Friend Reward or to prevent any attempted withdrawal of the same from your account.

  1. To the extent a Refer a Friend Reward has been paid to you and we suspect a participant has acted fraudulently or obtained an unfair or unintended advantage pursuant to this Promotion, you agree that we will be entitled to deduct an amount equivalent to the Refer a Friend Reward from any IG trading account that you hold with us.

  1. We are the sole arbiter of the Promotion, these Rules and any other issues arising under this Promotion. Exceptions to these Rules are at the sole discretion of IG’s management, and our decision is final. We reserve the right to alter, amend or terminate the Promotion or any aspect of it (including the Rules) at any time and without prior notice.

  1. The Refer a Friend Reward cannot be combined with any other reward promotions that IG offers.

  1. We will not be held liable for any losses incurred by you or Your Friend as a result of your (or their) trading or in relation to this Promotion. IG Markets South Africa Limited is an authorised financial services provider (FSP No 41393). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk. IG provides execution only services and enters into principal to principal transactions with its clients on IG’s prices. Such trades are not on exchange. Whilst IG is a regulated FSP, CFDs issued by IG are not regulated by the FAIS Act as they are undertaken on a principal- to- principal basis.

  1. We will not be held liable for your, or Your Friend’s, inability to satisfy the eligibility requirements of the Promotion or ability to trade as the result of any technical malfunction of the Internet, IG’s trading platform, or your or Your Friend’s own computing system. You and Your Friend accept all risks associated with trading over the internet, mobile applications, and downloadable software.

  1. Any dispute or situation not covered by these Rules, will be resolved by IG’s management in a manner it deems to be fairest to all concerned and that decision will be final and binding on all parties.

  1. If at any time all or any part of any provision of these Rules are or become illegal, invalid or unenforceable in any respect under the law of any jurisdiction, such provision(s) will not affect or impair the legality, validity or enforceability in that jurisdiction of the remainder of that provision or all other provisions of these Rules or the legality, validity or enforceability under the law of any other jurisdiction of that provision or all other provisions of these Rules.

  1. If any tax is payable on the Refer a Friend Reward paid by us to you pursuant to the Rules, this tax will be your liability and will not be incurred by us. If the law requires us to withhold this tax and settle with the relevant tax authority on your behalf, then we shall credit your Refer a Friend Reward to your account net of this tax.

  1. These Rules will be governed by and construed in accordance with South African law and will be subject to the jurisdiction of the courts of South Africa.

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