Last updated on May 25th, 2015
1. The following Bonus terms are made and abide by and between:
a) 24option, a brand owned and operated by Rodeler Limited, a Company duly registered under the Cyprus Company Law with Registration Number ΗΕ 312820, authorised as a Cyprus Investment Firm by the Cyprus Securities and Exchange Commission CySEC with CIF License Number 207/13 and having its registered address at 39 Kolonakiou Street, Frema Plaza, 1st Floor 4103 Ayios Athanasios, Limassol, Cyprus (hereinafter “24option” or “the Company”).
b) Every individual who registers with the Company and holds an active trading account and who accepts an offer from the Company to participate in any of its Bonus Programs (hereinafter “the Client”, “You” or “Trader”).
2. Any references in this agreement to trader/s and/or client/s are regarded to the trader/s and/or client/s of 24option.
3. By opening an account on www.24option.com website, you accept and agree to also comply with the terms of this agreement. Moreover, by accepting the bonus terms, you are bound by its guidelines and provisions for the duration that your existing bonus is active.
4. The decision whether to offer a bonus to a prospective/potential client is clearly and indisputably at 24option’s absolute and unreserved discretion. The Company will, as part of its fiduciary responsibilities, take into consideration any information you present to the Company during the application process, which includes, but is not limited to, your financial situation and your trading experience.
5. Trading benefits are intended for experienced traders. As per point 4 above, the Company may not directly offer such trading benefits to all Clients. If You are interested in receiving a trading bonus, you should carefully consider the Terms and Conditions below prior to requesting a bonus from the Company.
6. Any bonuses, promotions and benefits that are provided by 24option or any trading account are held under the Company’s Terms and Conditions. Clients are expected to utilize 24option bonus in a rightful and justified manner, according to the terms and provisions of this agreement. Should 24option under any circumstance suspect any wrongdoing or deception, 24option reserves the right to cancel bonuses, promotions or benefits that have been provided or are supposed to be provided to the specified trading account. 24option reserves the right to close the client’s account if it suspects any form of abuse or refrainment of the bonus by the client. Should this be the case, the company’s decisions shall be final.
7. Eligibility to receive Trading Benefits may be restricted to one per household, account, device or computer.
8. In addition to Trading Benefits offered by the Company, any Client who holds a real trading account with 24options will eligible to participate in the Trading Competition. Please read the competition’s Terms and Conditions and FAQs to find out more specific information (click here). The Leader board will generally be updated on an hourly basis, however from time to time, this period may be extended. Any prizes will be added into customer’s trading account and can be withdrawn subject to standard withdrawal requirements.
9. Without relation to periodic bonus programs offered by 24option, 24option offers the following trading benefit/bonus:
10. Withdrawal Requests While Bonus is Active: 24option does not wish to restrict your account during the period in which you have not met trading volume requirements related to your bonus. Thus, if you request a withdrawal prior to achieving the minimum trading volume requirement, the full amount of all active bonus(es) will be deducted from the current balance of the account along with trading Profit/Losses connected to the bonus issued by the company, in accordance with the Company’s Symmetrical Bonus Method protocols, as described in detail below. You will then be able to manage the remaining balance in your account freely.
11. Your participation in the Promotion is deemed to constitute your agreement that we may use your name, likeness or image for promotional purposes on our website or elsewhere without the requirement for any payment and you expressly waive any claims against us in this regard should you win the Bonus.
12. These terms and conditions and any matters relating hereto shall be governed by and construed in accordance with the laws of Cyprus and shall be subject to the exclusive jurisdiction of the Cypriot courts.
General Description of the Symmetrical Bonus Method:
1. Effective, 26th July 2015, the Company implemented a new methodology for calculating the allocation of Profit and Loss of trades that occur in accounts with an active cash bonus. For sake of clarification, please consider the following terms:
“Account Bonus Balance” refers to the portion of the Total Value of Your Account that is unavailable for withdrawal until the Minimum Trading Volume is achieved. This amount is calculated by adding the Active Bonus plus its Proportional Value of trading Profit and Loss.
“Account Cash Balance” refers to the portion of the Total Value of Your Account that is available for withdrawal at any time. This amount is calculated by adding the Net Deposits plus their Proportional Value of trading Profit and Loss.
“Account Summary” shall refer to the “My Account” section of the Trading Platform where a Client can see in real time the “Account Cash Balance”, “Account Bonus Balance”, “Total Cost of Your Open Positions”, and “Total Value of Your Account”.
“Active Bonus” shall refer to a Trading Benefit of a specific bonus amount that is deposited into a trading account that has a Minimum Trading Volume requirement, which is agreed upon between the Company and the Client. In certain cases where a Client has more than one (1) active bonus, all bonuses will be aggregated and treated as one (1) active bonus.
“Balance for Withdrawal” shall mean Account Cash Balance.
“Cumulative Trading Volume “refers to the aggregate volume of Transactions that the client entered into until a specific date.
“Minimum Trading Volume” shall refer to the minimum number of Transactions that the Client must enter into in order to convert a bonus into Cash.
“Net Deposits” is the amount of Deposits minus Withdrawals plus Trading Profit and Loss generated prior entering into the Bonus Scheme.
“Proportional Value” is calculated by dividing the Net Deposits by the Net Deposits plus Bonus in order to determine the percentage of the Profit and Loss from trading that will be attributed to the deposits (in order to establish the Account Cash Balance ), while there is still an active bonus. 100 minus the Proportional Value determine the percentage of the Profit and Loss from trading that will be attributed to the bonus (in order to establish the Account Bonus Balance). Examples of how to calculate the Proportional Value can be found below.
“Symmetrical Bonus Method” is the process where the Company attributes profit and loss according to a Proportional Value.
“Time Restriction” is not relevant since the Client is not required to achieve the Minimum Trading Volume within a certain amount of time. For inactive accounts, a Dormancy Fee shall apply.
“Total Cost of Your Open Positions” refers to the value of all open Orders in the system.
“Total Value of Your Account” refers to the Account Cash Balance + Account Bonus Balance + Total Cost of Your Open Positions.
“Trading Volume Requirement” shall refer to numerical multiplier used to calculate the Minimum Trading Volume. This multiplier can be up to fifty (50) times the bonus amount. For example, if a Client may agree to receive a $1000 bonus with a multiplier of 50x, the Minimum Trading Volume will be fifty thousand ($50,000).
2.Proportional Trading Volume Example 1 – One Deposit + One Bonus*
In the example below, the Client agrees to a 100% Bonus on his Deposit with a Trading Volume Requirement of 40x. The client places 1 order per day and executes 10 orders on his account. As per the chart below, the client will be eligible to withdraw $5,200 at the time of his last withdrawal, which includes his initial deposit of $5,000 plus $200 in profit, since there is Minimum Trading Volume of $200,000 that was not achieved yet.
3. Proportional Trading Volume Example 2 – One Deposit + One Bonus (With Withdrawal)*
In the example below, the Client agrees to a 100% Bonus on his Deposit with a Trading Volume Requirement of 40x. The client requests a withdrawal of $2,000 after placing 4 Orders on his account. As per the chart below, the Active Bonus of $5,000 in addition to $150 in Profit that was attributed as Proportional Value was cancelled when the Client requested a withdrawal prior to achieving the Minimum Trading Volume. Following these transactions, the Client is left with $3,150 to place orders or withdraw. It is should be noted that all future profits and losses will be applied to the Client since he no longer has an Active Bonus.
4. Proportional Trading Volume Example 3 – One Deposit + One Bonus (Trading Volume Achieved)*
In the example below, the Client agrees to a $100 Bonus on his Deposit with a Trading Volume Requirement of 40x. As per the chart below, the Client achieves the Minimum Trading Volume after the 10th Order and therefore the Account Bonus Balance was converted to Cash and it became immediately available for Withdrawal.
5. Proportional Trading Volume Example 4 – Two Deposits + Two Bonuses*
In the example below, the Client agrees to a 100% Bonus on his Deposit with a Trading Volume Requirement of 40x. The client requests a withdrawal of $2,000 after placing 4 Orders on his account. As per the chart below, the Active Bonus of $5,000 in addition to $150 in Profit that was attributed as Proportional Value was cancelled when the Client requested a withdrawal prior to achieving the Minimum Trading Volume. Following these transactions, the Client is left with $3,150 to place orders. The Client then places an additional Order where he loses $2,000. With a low balance, the Client decides to make another deposit and he requests another 100% bonus. Since the first bonus was cancelled when he withdrew funds, the Minimum Trading Volume and Volume Outstanding requirements were calculated on the 2nd bonus.
6. Proportional Trading Volume Example 5 – One Deposit + One Bonus (Account Closes with Losses)*
In the example below, the Client agrees to a $100 Bonus on his Deposit with a Trading Volume Requirement of 40x. As per the chart below, the Client loses 6 of 8 trades and decides to close his trading account. Since all profit and losses are divided according to the Proportional Value, the total losses of $274 were shared between the deposit (trader) and the bonus. Therefore, the client withdraw $272 from the account (=500-228).
*Bonus Examples are provided for illustration purposes only. In specific, Trading Volume is aggregated based on the Invested Amount only and does not include Profits/Returns in the calculation. For simplicity and ease, you can always check you’re updated .