Welcome Promotion – Terms
1.1 This Welcome Promotion (“Promotion”) is available from 27 September 2023 to 30 November 2023, both dates inclusive (“Welcome Period”).
1.2 By participating in this Promotion, Eligible Clients agree to be bound by these Promotion Terms and any such variation.
2. Eligibility requirements
2.1 This Promotion is only open to new direct Clients of Saxo Capital Markets Pte Ltd (“Saxo”) who successfully apply for and open a new trading account with Saxo during the Welcome Period (“Eligible Clients”).
2.2 Eligible Clients do not include:
a) Any clients who are non-individuals (e.g. corporate entities);
b) An individual who maintained an existing trading account with Saxo prior to the Welcome Period;
c) Any institutional clients of Saxo; or
d) Any clients who have been referred or introduced to Saxo by an Introducing Broker/Money Manager.
3. Commission Credit
3.1 Saxo will grant SGD 188 Commission Credit (“Welcome Commission Credit”) to Eligible Clients within one (1) week of such Eligible Clients opening their new Saxo accounts within the Welcome Period.
3.2 Any Welcome Commission Credit is (a) in addition to any monthly Commission Credit available under the respective Account Plans provided by Saxo and (b) must be utilized by the expiry date indicated on Saxo’s trading platform(s), failing which the said Welcome Commission Credit will no longer be available thereafter.
3.3 Saxo’s prevailing Commission Credit Terms apply to any use of the Welcome Commission Credit. For the avoidance of doubt, the expiry date of the Welcome Commission Credit is administered separately from that of any monthly Commission Credit available under the respective Account Plans and Saxo reserves the sole discretion to determine the order by which any Commission Credit is utilized under an Eligible Client’s account.
Eligibility and Conduct
4.1 Saxo reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with this Promotion, including eligibility and the applicable criteria. Saxo’s determination of all matters relating to this Promotion shall be final and conclusive.
4.2 Saxo reserves the right, and has sole and absolute discretion, to prohibit any Eligible Client from participating in any aspect of the Promotion in the event that Saxo determines, at its sole and absolute discretion, that any Promotion Terms have not been complied with, including but not limited to the following:
a) where the Eligible Client has acted fraudulently or dishonestly;
b) where the Eligible Client has conducted himself/herself/itself in bad faith or otherwise in an inappropriate manner to gain an unfair advantage against Saxo; and/or
c) where the Eligible Client has acted in a manner which is generally inconsistent with the intended operation of the Promotion.
4.3 If any Eligible Client is discovered to be ineligible for and/or prohibited from participating in the Promotion for any reason, Saxo is entitled to at any time (i) terminate the Promotion in such cases; and/or (ii) where the Welcome Commission Credit has been utilized, reclaim and/or deduct the relevant commission/fee which ought to have been paid had the Welcome Commission Credit not been available to the Eligible Client. In such an event, no person shall be entitled to any payment or compensation from Saxo.
4.4 Saxo has sole and absolute discretion to determine cases of suspected abuse, fraud, or breach of these Promotion Terms or intent of these Promotion Terms. Saxo’s decision in such cases, including but not limited to terminating the Promotion in such cases, shall be final and Saxo shall not be obliged to provide reasons for the same.
4.5 Saxo shall not assume any liability for any loss incurred or suffered by any person in connection with the Promotion, howsoever arising, including without limitation, any error in computing trades and trade commissions, and any subsequent changes to commission prices.
4.6 These Promotion Terms form part of and should be read in conjunction with the General Business Terms, Account Plans Terms and all other general business terms acknowledged and accepted by the Eligible Client when becoming a client of Saxo (“Trading Terms”), in particular the definitions found in the Trading Terms, such Trading Terms are available on the Saxo Website (as may be amended from time to time).
4.7 In the event of any inconsistency between these Promotion Terms and any brochure, marketing or promotional material relating to the Promotion, these Promotion Terms shall prevail.
Termination or Variation
4.8 Saxo reserves the right to do any of the following without prior notice:
a) terminate, withdraw, shorten or extend this Promotion at Saxo’s sole and absolute discretion, with or without prior notice or reason; and/or
b) vary, modify, add or delete any of the terms of the Promotion.
Third Party Rights
4.9 A person who is not a party to these Promotion Terms shall have no rights under the Contracts (Rights of Third Parties) Act 2001 to enforce these Promotion Terms.
4.10 These Promotion Terms shall be governed by the laws of Singapore and any dispute arising in relation to these Promotion Terms shall be subject to the exclusive jurisdiction of the courts of Singapore.