- These Bonus Terms and Conditions apply by and between:
- Rodeler Limited (which owns and operates under the brand name “24option”), 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”) and
- Every natural or legal person who is a Client of the Company (i.e. it has registered with the Company and holds an active trading/Client Account) and who also accepts an offer from the Company to participate in any of its Bonus Programs as offered by the Company from time to time (hereinafter “the Client”, “You” or “Trader”).
- Read these Bonus Terms and Conditions carefully before registering for any Bonus Program or accepting any Bonuses or similar trading benefits offered by the Company and make sure you agree with them.
- For the avoidance of any doubt, you are informed that the Bonuses offered by the Company are not mandatory but optional and you do not have to accept them.
- By registering into a Bonus Program or accepting a Bonus or similar trading benefit offered by the Company, you are accepting these Bonus Terms and Conditions and you will be bound by their provisions for the duration that your bonus is active. It is noted that the Company may offer various types of Bonuses and similar trading benefits, from time to time, and each one of them has different characteristics, eligibility criteria and requirements. Hence, you are also advised to read the characteristics of each type of Bonus and make sure you understand and agree with them before accepting them, because you will be bound by those as well. The decision whether to offer a bonus or similar trading benefits lies at the Company’s absolute discretion, which shall be exercised in a non-discriminatory way. The Company will take into consideration any information you present to the Company during the Client Account application process, which includes, but is not limited to, your financial situation and your trading experience.
- Bonuses and similar trading benefits are intended for experienced traders. As per point 4 above, the Company may not directly offer such bonuses or similar trading benefits to all Clients. If You are still interested in receiving a bonus or similar trading benefit, even though you are not an experienced trader, you should carefully consider once more the risks associated with trading in Binary Options and CFDs (available on our website under the Risks and Warning Notice). It is noted that the use of bonuses may generate trading profits but it may also generate trading losses; the loss may not be just loss of the bonus but also loss of your own money deposited with the Company.
- The Company reserves the right to determine the list of countries participating in Bonus programs. Hence, not all Bonus Programs or any Bonus Programs at all may be available to some countries.
- If you have several Client Accounts with the Company, each Client Account shall be treated separately and hence you may receive Bonuses in all of them provided the conditions of awarding a Bonus are met each time. A specific Bonus is credited each time only in the specific Client Account that generated the Bonus.
- The Bonuses may not be sold, assigned or passed to any other person or Client Account other that the specific Account Holder and Client Account to whom the Bonus was given.
- The Bonus is credited in the Currency of the Client Account that generated it.
- It is noted that limits which may be imposed on the duration awarded Bonuses shall need to be used, otherwise they shall expire. These shall appear in the specific terms of each promotion.
- The Company does not guarantee that all Bonus promotions will be available for an indefinite duration. In particular all Bonuses may be withdrawn at any time without prior notice to the Clients, in the Company’s absolute discretion. Clients however will not lose the bonuses or trading benefits they have already earned.
- All bonuses and similar trading benefits that are provided by the Company shall be used for trading purposes according to the Company’s Agreement. The Company reserves the right to cancel and/or revoke awarded Bonuses or similar trading benefits and /or close the Client Account, should the Company consider that the Client abused any offers of the Company or breached the Agreement or performed an Event of Default according to the Agreement.
- Eligibility to receive Bonuses and trading benefits is restricted to one per household, account, device or computer, unless the specific promotion provides differently.
- 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.
- 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.
Various types of Bonuses offered by the Company:
- Without relation to periodic bonus programs offered by 24option, 24option offers the following trading benefit/bonus:
- Technology Bonus I (IPAD) – In order to qualify and receive the device (IPAD) a minimum deposit of EUR 10,000 (ten thousand EURO) or equivalent of “new” funds must be made to your trading account and a minimum of EUR 50,000 (fifty thousand EURO) in trading volume (definition provided under Point 19) must be reached.
- Technology Bonus II (MacBook) – In order to qualify and receive the device (MacBook) a minimum deposit of EUR 20,000 of equivalent of “new” funds must be made to your trading account and a minimum of one hundred thousand EURO in trading volume (definition provided under Point 19) must be reached.
- $24 New Account Bonus For Mobile Application – Any Individual who downloads the 24option mobile application and registers for a Client account is eligible for a $24 bonus. The funds will automatically be credited to the new account upon registration. This is not a Cash offer by the Company or intended to be a Cash offer. This initial bonus offer is intended to allow new users of the mobile platform the opportunity to test the trading prior to making a deposit. Existing users of the mobile platform are not eligible for this bonus. Therefore, this bonus and its profits are not eligible for withdrawal until the user activates this account by completing the Account Verification process as per the Company’s Agreement, makes an initial minimum deposit into this trading account within one (1) hour of receiving the bonus and reaches a minimum trading volume of 75x the bonus amount. Limit of one (1) new account and one (1) $24 bonus per client.
- Cash Bonus – 24Option may offer to a trader a Cash Bonus of a certain amount at the full discretion of the Company. The amount is agreed with the trader and may differ from trader to trader. The bonus amount is usually associated with the amount deposited by the trader but this may not always be the case. The bonus amount may also be subject to the different trading benefits promotions that may be active at the given point in time.
- Risk Free Trade – 24option may offer a special “Risk Free Trade” promotion from time to time. A Risk Free trade allows a trader the opportunity to open any trade whose amount is less than or equal to 50% of the deposited amount (“Trade Amount”) if certain conditions are met: 1. the trader notifies the account manager prior to opening the position and 2. the Trader agrees to receive the Trade Amount as a Cash Bonus. The Cash Bonus will have a minimum trading volume requirement of 50x times. For example, if $1,000 is deposited in a trading account, the trader will be eligible to open one (1) position up to a Trade Amount of $500 as a Risk Free trade after he advices the Account Manager of his intent. If the trade closes “in the money”, the trader will receive the invested amount plus the return amount(profit) as normal; however, if the trade closes “out of the money”, the trader will receive a $500 bonus to his trading account. As soon as he trades $25,000 (=$500 * 50x) in Cumulative Trading Volume the Cash Bonus will automatically become available for withdrawal.
- Withdrawal Requests While Bonus is Active: 24option does not wish to restrict your Client Account during the period in which you have not met the particular 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 Client Account along with trading Profit/Losses connected/associated 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.
- Withdrawal Requests While Positions Are Open: In case there is an active bonus, 24option reserves the right to delay the processing of your withdrawal request until all Open Positions are closed. Thus, you must ensure that all Open Positions are closed/settled prior to submitting your withdrawal request.
- 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.
- 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:
- 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.
“Open Positions” shall mean any open option contract (call and / or put) which has not been closed. In relation to CFD trading this may be a Long Position or a Short Position which is not a Completed Transaction.
“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 agrees to receive a $1,000 bonus with a multiplier of 50x, the Minimum Trading Volume will be fifty thousand ($50,000) in Binary Options Orders and sixty-two thousand five hundred ($62,500) in CFDs Orders. This means that every dollar ($1) traded in Binary Options is equal to $1.25 in CFDs and every dollar ($1) in CFDs is equal to $0.80 in Binary Options.
||Binary Options Trading
|Initial Trading Volume Requirement
If a trading account is used for trading both Binary Options and CFDs then the Trading Volume Requirement for both Binary Options and CFDs shall be adjusted every time an order is placed as follows:
||Trading Volume Requirement as adjusted after an Order is closed
|If Binary Options Order of $1,000
|If CFDs Order of $1,000
As soon as the Trading Volume Requirement for both Binary Options and CFDs Trading is zeroed the Client shall be qualified to receive the award associated with the bonus granted.
21. 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.
22. 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.
23. 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.
24. 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.
25. 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 your updated activity via the “Trade History” tab within the “My Account” section.