Risk Disclaimer
There is a substantial risk of loss when trading over the counter spot foreign exchange ("FOREX"). There is the possibility that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. The practice of leveraging is common in the FOREX market. This high level of leveraging can lead to substantial losses as well as substantial gains. Therefore, trading FOREX may not be suitable for all investors. One should carefully consider one's financial situation, investment objectives, and risk appetite before deciding to invest in FOREX. You should be aware of all the risks associated with FOREX trading, and seek advice from an independent financial advisor if you have any doubts.
Please read the following terms carefully, as MyRebatesFX’s rebates are offered to you based on these terms. Your use of MyRebatesFX’s rebates signifies your agreement to all such terms. MyRebatesFX reserves the right to change the terms under which these rebates are offered without prior notice. You are responsible for reviewing these terms on a regular basis.
Agreement Terms
1. Trader agrees to have MyRebatesFX as their IB at one of the FOREX brokers that has an affiliation with MyRebatesFX. Referrer agrees to have MyRebatesFX as the IB on the accounts they refer to any of the FOREX brokers that has an affiliation with MyRebatesFX.
2. MyRebatesFX will pay Trader/Referrer based on the commission schedule found in Schedule A of this Agreement. This schedule may be amended by MyRebatesFX at its sole discretion with or without notification to Trader/Referrer.
3. Trader/Referrer understands that MyRebatesFX reserves the right to discontinue rebate/referral bonus payments at anytime at its sole discretion and that the rebate/referral bonus payment is in actual fact a bonus and not an obligation to pay Trader/Referrer.
4. MyRebatesFX reserves the right to change Trader’s commission schedule upon any specialized spread structure agreed upon between Trader and any of the FOREX brokers that have an affiliation with MyRebatesFX that would allow Trader to pay a lower spread on any or all trades. MyRebatesFX reserves this right for any of Trader’s trading accounts enrolled in the MyRebatesFX Rebate Program. Referrer understands that if any of the accounts they have referred adopts any of the abovementioned specialized spread structures, MyRebatesFX reserves the right to change Referrer’s commission schedule.
5. Trader/Referrer agrees to not hold MyRebatesFX liable of any liabilities to pay Trader/Referrer their rebates/referral bonuses in cases where MyRebatesFX may experience hardships that could affect MyRebatesFX’s ability to make rebate/referral bonus payments to Trader/Referrer, such as incorrect or tardy rebate payments from FOREX brokers to MyRebatesFX, litigation against MyRebatesFX, MyRebatesFX bankruptcy, etc.
6. Trader/Referrer understands and acknowledges that all data provided to them in the online rebate tracking tool when logged into their personal account on the http://www.myrebatesfx.com website (i.e. rebate, volume, referred rebates, and referral bonuses data) may not be an accurate depiction of Trader/Referrer’s actual activity. The data that MyRebatesFX provides to Trader/Referrer via the tracking tool is directly derived from rebate and volume data that MyRebatesFX receives from FOREX brokers that have an affiliation with MyRebatesFX. Therefore, all data provided via the tracking tool is inherently limited by the time it takes for the FOREX broker to publish the data as well as the quality of the data that is provided by each FOREX broker. The accuracy of the data provided via the tracking tool is also limited by the time MyRebatesFX requires to process and upload the data to the http://www.myrebatesfx.com website as well as any potential technical errors that may affect the quality of this data.
7. Trader/Referrer understands and acknowledges that all rebate and volume data provided within the ‘Tracking Tool Demo’ section of our website found at http://www.myrebatesfx.com/trackingtooldemo.php is entirely hypothetical and not indicative of future results. Trader/Referrer understands and acknowledges that the ‘Tracking Tool Demo’ section is provided only as a means to preview the functionality of the online rebate tracking tool on the http://www.myrebatesfx.com website.
8. Trader/Referrer acknowledges that Trader/Referrer will compensate MyRebatesFX for any damages that are either a direct or indirect and unforeseen result of Trader/Referrer’s actions.
9. Trader acknowledges that MyRebatesFX is not liable for any damages and/or financial losses to Trader caused by the FOREX broker that Trader has an account with where Trader has used MyRebatesFX as their IB on the account for any reason at anytime. Referrer acknowledges that MyRebatesFX is not liable for any damages and/or financial losses to Referrer or Referrer’s referred accounts caused by the FOREX broker that Referrer’s referred accounts are set up with where the referred accounts have used MyRebatesFX as their IB for any reason at anytime.
10. Trader/Referrer represents and affirms that Trader/Referrer is either:
a. An individual who is not prohibited from entering into and effecting the terms of this Agreement; or
b. A legal entity, which is properly organized and is in good standing in the jurisdiction of its formation, and Trader/Referrer is suitably authorized to enter into and effect the terms of this Agreement.
In addition, Trader understands that Trader is required to provide proof of identification (e.g. passport, driver’s license, bank statement, utility bill, etc.) to each of our partner FOREX brokers that Trader decides to trade with.
11. Trader/Referrer represents and affirms that this Agreement and the transactions contemplated hereunder are legal under the laws of any nation, state, and/or territory.
12. The period of this Agreement will be six months starting on the date of this Agreement and will be automatically extended indefinitely. MyRebatesFX reserves the right to terminate this Agreement at any time at its sole discretion with or without notification to Trader/Referrer.
13. Once enrolled in the MyRebatesFX Rebate Program and/or Referral Program, Trader/Referrer will be subject to the latest version of this Agreement, which may be amended at anytime by MyRebatesFX for any reason with or without prior notice to Trader/Referrer. The latest Agreement replaces all previous versions of the Agreement and can be found at http://www.myrebatesfx.com/CustomerAgreement.php.
14. Trader/Referrer acknowledges that this Agreement shall be interpreted under the laws of the country of Hong Kong without regard for its conflicts of laws and principles. Each party agrees to personal jurisdiction in any action brought in any court within the country of Hong Kong, the country of Hong Kong having subject matter jurisdiction over the matters arising under this Agreement. Any suit, action or proceeding arising out of or relating to this Agreement shall only be instituted in the province of Hong Kong. Each party waives any objection which it may have now or hereafter to the laying of the venue of such action or proceeding and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding.
Schedule A
Trader’s Commission Schedule
1. MyRebatesFX will compensate Trader a rebate rate specific to FOREX broker for every new round turn standard lot traded at the FOREX broker that Trader was referred to by MyRebatesFX. Specific rebate rates can be found at http://www.myrebatesfx.com/whatwedo_rebateprogram_howyougetpaid.php. These rates are subject to change. In addition, MyRebatesFX may also negotiate special rates with Trader. In these certain cases, special rates will be recorded in MyRebatesFX’s database.
2. Trader’s account must be open, funded, and under the MyRebatesFX IB group at the appropriate FOREX broker during the time of rebate payment in order to be eligible to receive the rebate. It is Trader’s responsibility to make sure that Trader’s account remains under the MyRebatesFX IB group at the specific FOREX broker that Trader would like to receive rebates for.
3. Trader must have accumulated at minimum 10 USD in rebates during the time of rebate compensation in order to be paid their rebate. MyRebatesFX will rollover any nonpaid amounts every month until Trader accumulates at minimum 10 USD in rebates.
4. Payment to Trader will be made either via PayPal, check by mail, or by any other means as agreed to by both parties only.
5. Payment will be paid out on the 25th day of each month for the rebates Trader accumulated in the previous month. This can change at any time without prior notice to Trader.
6. A processing fee may be deducted from Trader’s rebate each month. This is at the sole discretion of MyRebatesFX.
7. Trader must be fully enrolled in the Rebate Program to be eligible to receive rebates from MyRebatesFX. Initializing an account with MyRebatesFX, without fully enrolling in the Rebate Program, does not make Trader eligible to receive rebates. MyRebatesFX will not pay out rebates that Trader has earned more than 30 days before the date that Trader is fully enrolled in the Rebate Program.
Referrer’s Commission Schedule
1. MyRebatesFX will compensate Referrer the equivalent of a specific percentage of the total monthly amount of rebates that all of Referrer’s referred accounts generated. The amount of percentage depends on the total monthly amount of rebates Referrer’s referred accounts have generated altogether. Specific payment details can be found at http://www.myrebatesfx.com/whatwedo_referralprogram_howyougetpaid.php. This pay structure is subject to change. In addition, MyRebatesFX may also negotiate a special pay structure with Referrer. In these certain cases, the special pay structure will be recorded in MyRebatesFX’s database.
2. Referrer’s referred accounts must be open, funded, and under the MyRebatesFX IB group at the appropriate FOREX broker during the time of referral bonus payment in order to be eligible to receive the referral bonus. It is Referrer’s responsibility to make sure that Referrer’s referred accounts remain under the MyRebatesFX IB group at the specific FOREX broker that Referrer would like to receive referral bonuses for.
3. Referrer must have accumulated at minimum 10 USD in referral bonuses during the time of referral bonus compensation in order to be paid their referral bonus. MyRebatesFX will rollover any nonpaid amounts every month until Referrer accumulates at minimum 10 USD in referral bonuses.
4. Payment to Referrer will be made either via PayPal, check by mail, or by any other means as agreed to by both parties only.
5. Payment will be paid out on the 25th day of each month for the referral bonuses Referrer accumulated in the previous month. This can change at any time without prior notice to Referrer.
6. A processing fee may be deducted from Referrer’s referral bonuses each month. This is at the sole discretion of MyRebatesFX.
7. Referral bonuses will be issued to Referrer after they are fully enrolled in the Referral Program, not from the day a referred account is opened and under the MyRebatesFX IB group. MyRebatesFX will not pay out referral bonuses that Referrer’s referred accounts have generated Referrer more than 30 days before the date that Referrer is fully enrolled in the Referral Program.
*This Agreement was last updated on: Jan 08, 2010