Refer-a-friend Promotion
1. These terms and conditions (the “Rules”) apply to the Refer a Friend Promotion (“Promotion”). By participating in the Promotion, you agree to be bound by these Rules which take effect from 1 October 2024 to 31 December 2024.
Eligibility
2. To qualify for the Promotion, the person making the referral ("you", “Referrer”) must:
(a) be an existing active account holder of IG Asia Pte Ltd, with its registered office at 9 Battery Road, #01-02 MYP Centre, Singapore, 049910 ("we","us","IG" or "our");
(b) be an individual and a direct retail client of IG;
(c) must not be a participant, referral, affiliate or have accepted any other concurrent promotion offered by IG, save for the “KrisFlyer Loyalty Programme” or otherwise as specified by IG;
(d) you must be a Singapore resident (i.e. you must either be a Singapore citizen, Singapore Permanent resident or have a valid and current Singapore employment or work pass issued by the Ministry of Manpower);
(e) have an existing business or personal relationship with the person you would like to refer (your "Friend"); and
(f) refer your friends to IG by sharing your 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. Whilst you may refer more, rewards will only be paid in respect of the first five people to be considered an Active Referral (as defined in clause 4) under this Promotion.
3. Your Friend must:
(a) be an individual who is 18 years or older;
(b) be a Singapore resident (i.e. they must either be a Singapore citizen, Singapore Permanent resident or have a valid and current Singapore employment or work pass issued by the Ministry of Manpower);
(c) have their addressed submitted for the account opening application be an address in Singapore; and
(d) be a new client to IG, not having previously held an account with IG or any other IG group company.
Participation
4. To qualify for the Promotion, your Friend is required to:
(a) open a trading account with IG through the unique URL shared by you (their “Account”);
(b) make a one-time initial deposit of an amount equal to or greater than S$2,000 (Two Thousand Singapore Dollars) into their Account using a source account listed in their name (primary account holder), no third party funds are allowed (including supplementary cards);
(c) maintain a positive balance on the Account for a period of two (2) months from the date of Account Activation (the “Qualifying Period”); and
(d) maintain the Account as active and place at least one (1) Qualifying Trade of any product during the Qualifying Period i.e. if your Friend’s Account is opened on 1 Oct 2024, he/she must open at least one Qualifying Trade by 30 November 2024. A Qualifying Trade is defined in clause 5 below.
Upon satisfaction of all the requirements set out in clause 4 (a) to (d) subject to the terms and conditions set out herein, your Friend shall qualify as an “Active Referral”.
5. A ‘Qualifying Trade’ is a CFD with a minimum size of one mini contract or equivalent on which you have paid commission (subject to any applicable promotional offers). For the avoidance of doubt, trades subject to a commission free period will not be Qualifying Trades.
Rewards
6. Within 60 days of your Friend becoming an Active Referral both you and your Friend will receive a cash reward in line with the Tiers set out in clause 7 posted to your default IG trading account and your Friend’s Account respectively (each a “Refer a Friend Reward”).
7. The Refer a Friend Reward Tiers available to you and each of your Friends who qualify as Active Referrals are as follows:
Tier 1: If your Friend places 1, 2, 3 or 4 Qualifying Trades in the Qualifying Period, you and they will receive a cash reward in the amount of S$50;
Tier 2: If your Friend places 5 Qualifying Trades in the Qualifying Period, you and they will receive a cash reward in the amount of S$150;
You both may be eligible for an enhanced rewards instead of the Tier 1 or Tier 2 rewards if your Friend meets the additional criteria below:
Tier 3: If the Qualifying Trades placed by your Friend during the Qualifying Period have a notional value of S$500,000 or more but less than S$1,500,000 then you and they will receive a cash reward in the amount of S$188;
Tier 4: If the Qualifying Trades placed by your Friend during the Qualifying Period have a notional value of S$1,500,000 or more but less than S$2,500,000, then you and they will receive a cash reward in the amount of S$488;
Tier 5: If the Qualifying Trades placed by your Friend during the Qualifying Period have a notional value of S$2,500,000 or more, then you and they will receive a cash reward in the amount of S$888
8. The Tiers set out in clause 7 are not cumulative. The maximum Refer a Friend Reward available to each of Friend is S$888 where that Friend meets the Tier 5 criteria. The maximum Refer a Friend Reward available to you under this Promotion is SGD4,440 (Four Thousand Four Hundred and Forty Singapore Dollars) where you have successfully referred a maximum of five Active Referrals under this Promotion and each of those Active Referrals meets the Tier 5 criteria.
9. The notional value for each Qualifying Trade will be calculated based on the notional value of the opening Transaction and not the notional value of the closing Transaction.
10. 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.
11. If any restrictions apply to your account or the Account of your Friend, the referral will not qualify as an Active Referral until restrictions have been lifted. Any restrictions that apply to an 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.
12. 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.
General
13. You can only refer an individual or company to IG once. If you have referred an individual or company to any IG group company, you cannot refer the same individual or company again to another company in the IG group.
14. 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.
15. IG reserves the right to remove a Refer a Friend Reward or substitute a 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.
16. This 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 review and investigate any referral activities and to cancel or withdraw the Promotion at any time in case of any suspected abuse of the Promotion. The sharing of referral links on public sites in order to obtain an unintended advantage is not permitted and any such link may be blocked. Where any of these Rules are breached, if we believe that any of the terms of the Customer Agreement with us have been breached in any way, a participant no longer has 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 a participant’s account.
17. To the extent a Refer a Friend Reward has been paid and we suspect a participant has acted fraudulently or obtained an unfair or unintended advantage pursuant to this Promotion, each participant agrees that we will be entitled to deduct an amount equivalent to the Refer a Friend Reward from any IG trading account that they hold with us.
18. 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 at any time and without prior notice.
19. The Refer a Friend Reward cannot be combined with any other reward promotions that IG offers. Each active referral will be limited to per residence, IP address or computer/smartphone tablet.
20. 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. Trading CFDs is a high risk activity and it is possible to lose more than your initial investment. You should take into account and consider your investment objectives, financial situation or particular needs before making any commitment to trade CFDs. Please ensure that you fully understand the risks and costs involved. Refer to the Risk Disclosure Statement and the Risk Fact Sheet at IG.com/sg.
21. 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.
22. 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.
23. 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.
24. If any tax is payable on the Refer a Friend Reward paid by us pursuant to the Rules, this tax will be the relevant participant’s 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 a participant’s behalf, then we shall credit the Refer a Friend Reward to the relevant account net of this tax.
25. These Rules will be governed by and construed in accordance with the laws of Singapore and will be subject to the jurisdiction of the Singaporean courts.
Definitions and Interpretation
26. In these Terms and Conditions:
“Customer Agreement” means the agreement made between IG and each of the Referrer or the Friend (as relevant), governing the basis on which IG provides services to them and the dealings between IG and each of them.
“IG’s KrisFlyer Loyalty Programme” means the programme maintained by IG where IG clients can accrue KrisFlyer miles when they open transactions on IG’s trading platform.
Updated as of 17 September 2024
