In the event of a conflict between VNC Brokers Ltd. and a Client, terms expressed in English and expressed in any other language, the terms expressed in English shall prevail over those expressed in any other language.
VNC Brokers Ltd. (“the Company”) offers a number of attractive rewards to its new and existing customers (“Customers”). Bonuses and/or financial awards or promotions (“Award”) rewarded to Customers are part of the Company’s promotional program. These Awards have limited time offers of which the following terms shall apply in reference to the relevant Customer account (“Account”).
1.1 Bonus/Award – A bonus/Award is an added value to the Client’s deposit in his trading account with the Company which provides additional equity to use for trading purposes. The amount of Bonus each Client is eligible to receive is subject to the Company’s decision;
1.2 Customer Profit – profits incurred in the Customer account, coming from his/her trading activity;
1.3 Customer Loss – losses incurred in the Customer account, coming from his/her trading activity;
1.4 Trading Results – Customer profit(s)/lose(s) incurred in the Customer account;
1.5 Account Equity – Customer account Balance plus the Trading Results plus Bonus/Award;
1.6 Account Balance – Customer own funds net deposited in his account (deposits minus withdrawals) plus realised profits;
1.6 Customer Account – Customer trading account, opened on www.vncbrokers.com.
2. Award/Bonus rules acceptance
Prior to accepting any Award offer Customers shall consider the particular terms and conditions associated with the Award and these Bonus and Award Policy, as both may be amended from time to time. Acceptance of the Award is done by placing a trade in the Account. After accepting the Bonus/Award the Customer acknowledges and agrees that the leverage in his trading account may increase.
3. Trading the Bonus/Award
The Bonus/Award can be traded and can be lost.
4. Withdrawal, Removal and Trading Results
4.1 Withdrawal – the Award cannot be withdrawn. The Award is used solely for trading.
4.2 Profit – the Customer Net Profit, obtained by trading with the Bonus awarded, can be withdrawn, without any conditions related to Awards.
4.3 Removal – in the case that the available balance on account as at the time the Bonus was granted is withdrawn/lost by the Client, the Bonus will be removed. In these circumstances the Company shall not be liable for any consequences of the bonus removal, including, but not limited to, order(s) closure by Stop Out.
4.4. Trading results – in case the customer realizes losses in an account that was granted a bonus or an award, these losses will be settled from the customer’s deposits and trading results and not from the bonus that was granted. The losses will be settled from the bonus only if the account’s equity (excluding the bonus or the award) is zero.
5. Account Terms
Customers are prohibited from opening multiple accounts with the Company for the sole purpose of enjoying more than one Award. Duplicate accounts (accounts opened for the same beneficial owner) may be closed without notice. In such cases the Company shall retain any Award rewarded to the Customer, any earnings will be forfeited and any amount deposited by the Customer to the Account will be returned to the Customer accordingly.
6. Opt out
the Customer is not required to accept any Award offered by the Company; all Awards are optional. The Customer may choose not to accept an Award. In these circumstances, the Customer will not be bound to the terms relating to Awards. Should the Customer mistakenly accept an Award, the Customer shall not trade in the Account and notify the Customer Support within 5 working days from mistakenly accepting the Award. In such circumstances, the Company will remove the Award from the Customer’s account and the Customer shall not be held to the Award terms.
7.1 Any improper or abusive trading, not in accordance with the Company’s Client Retail Agreement or Terms and Conditions, will result in the Award/Bonus being revoked or not awarded, and may also result to your Account being frozen.
7.2 No delay or omission to exercise any right, power, or remedy accruing to any party upon any breach or default under this Agreement, shall be deemed a waiver of any other breach or default theretofore or thereafter occurring;
7.3 If any provision of this Agreement is held invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Agreement, and, to that extent, the provisions of this Agreement are intended to be and shall be deemed severable;
7.4 Please note that once a trading account is classified as Inactive/Dormant Account all Bonuses and/or Awards may be removed without prior notice. Please refer to section “Inactive and Dormant Accounts” for information on Inactive Accounts.
7.5 The Company will not be liable for any stop outs or any other consequences that result out of a Bonus cancellation and/or removal.
7.6 If the Company suspects that the Client has abused or attempted to abuse the Bonus and Awards Policy, or otherwise acted without good faith towards the Company, then the Company reserves the right, at its sole discretion, to deny, withhold or withdraw from the trading account the Bonus or promotion and if necessary to cancel any terms and conditions, either temporarily or permanently, or terminate Client’s access to the service and/or block the Trading Account.
7.7 The Bonus only applies to funded accounts with available balance of at least USD500 or equivalent at the time the Bonus is granted.
7.8 Transfers between other Trading accounts maintained with the Company under the name of the Client or a third person, are not considered as deposits. 7.9 Bonuses cannot be transferred between, or from Eligible Clients’ trading Accounts within the Company.
7.10 Internal funds transferred between trading Accounts within the Company are considered as withdrawals, therefore Bonus removal will be applied if the amount being transferred out from the 100% Bonus account is from the original balance that was awarded a respective bonus.
7.11 If a part of the available balance on account as at the time the Bonus was granted is withdrawn/lost the bonus can be removed on a pro rata basis, therefore in this case there will be a partial bonus removal.
7.12. Is is considered improper or abusive trading, the Client by himself or acting with others (including an Introducing Broker), establishing a trading position(s) which has the purpose or effect of extracting any profits generated by the Bonus awarded, without exposure to economic risk.
7.13 Is is considered improper or abusive trading, the Client by himself or acting with others, having an account or accounts where the accumulated Bonuses/Awards amount is greater than the amount which could have been accumulated if the Client and such others had complied with the Terms and Conditions of the Promotions.