1. Definition of a trading bonus: A trading bonus is an added value that matches your deposit in your Lockwood Trading Account and it provides you with more funds to use when you are trading. Trading bonuses come in many forms; there are consistent deposit matches which means that your account will be given an added value when you deposit funds over and over again; and it also comes in the form of a one-time added value on your first deposit. The Company offers these bonus funds. When you fund your account, the Company matches your first real money deposit by a certain amount of percentage in accordance to your first deposit.
2. Warning: A trading bonus gives you great value and extra trading leverage. With all of the above being mentioned; when you trade with bonus leverage you need to be cautious. Leverage is a valuable trading tool, but you need to be aware of the downside. You may close higher trades and make more money initially (or in the long run), but you can also lose a lot more money. Option trading can be risky and you need to trade with confidence and responsibility to avoid losses.
3. Scope of Trading Bonus at Lockwood: To help traders starting out binary option trading online, the Company offers new depositing clients a trading bonus on their first deposit as well as redeposit bonuses. There are several types of trading bonuses offered by the Company, as follows:
4. Types of Trading Bonuses
a. After receiving the sign up bonus, traders are given several other opportunities to boost their account balance. The Company often offers a “broker bonus” before significant financial events to enable traders to take advantage of the market volatility around those times. The Company also offers “no deposit bonus” for VIP account holders. These “no deposit bonuses” are called “rebate bonuses”, since they are based on a percentage of the trader’s trading volume. A rebate bonus is usually given on a monthly basis and it’s the Company’s way of giving back a percentage of the traders’ investment that month. A “risk free trade” is also categorized as a bonus as per this agreement and may be offered by the company at its sole discretion.
b. The Company also offers special trading bonus offers for traders depositing with certain funding methods, such as, wire transfer, and others. These bonuses can change so you should always check before depositing which funding method will give you the best bonus.
c. PLEASE READ ALL TERMS & CONDITIONS BELOW BEFORE ACCEPTING A BONUS. YOU ARE NOT REQUIRED TO ACCEPT A BONUS. A TRADING BONUS IS OPTIONAL FOR ALL CLIENTS.
TERMS AND CONDITIONS
1. EVERY BONUS REQUIRES A TRADING TURNOVER BEFORE ANY WITHDRAWAL IS MADE BY THE CLIENT. BY ACCEPTING A BONUS YOU ARE AGREEING TO THE TERMS AND CONDITIONS BELOW.
2. ALL BONUS INSERTIONS ARE FINAL.
3. Please read carefully before accepting a special offer, trade refund, benefit, or bonus:
4. Bonuses and benefits shall be credited to the client’s account subject to compliance with the terms of the offer made to the client, e.g. making minimum deposits and/or purchasing a minimum amount of options within a specified time period.
5. Unless stated otherwise in writing from the Company and only the Company, the terms of the offer, a precondition for making withdrawals after using the bonus/benefit is to buy options of 30 times the amount of the bonus/benefit plus the deposit amount. Example: (deposit + bonus x 30 = required turnover for withdrawal)
6. The Company urges its clients to take part in the offers, but to refrain from abusing and/or manipulating them. Abusing any of the offers could lead to cancellation of the bonus/benefit and closure of the client’s account on the Company’s website. The decision whether a customer is abusing and/or manipulating the company’s trading platform and/or its bonus policy is at the Company’s sole and exclusive discretion. 7. The bonuses/benefits must be used within the period defined in the details of the special offer.
8. The Company reserves the right to revoke the bonus/benefit should the special offer be abused and/or should the offer’s terms fail to be met. The Company’s decision – should this be the case – shall be final. The Company reserves the right to revoke or change the offers at any time and this will be displayed in the Company’s website.
9. Once the bonus has been inserted into the trading account, it cannot be returned or removed under any circumstance. The Company’s brokers do not have the ability to remove the bonus. All bonus insertions are final. By accepting a bonus into your account, you are agreeing to the terms and conditions above and hereinafter.
10. In the event where a Client accepts a bonus (please refer to Bonus Terms & Conditions), undertakes the obligation of our trading benefits (but not exclusively) and requests to withdraw in contrary to the terms and conditions of the bonus benefits will be reviewed by a special committee that will decide with accordance to each Client’s unique circumstances whether to approve the Client’s request and under which conditions, which may include inter alia that Clients who received bonus and wish to withdraw are subject to a penalty fee. The maximum percentage fee that a Client could incur is up to 30% of the remaining trade volume ratio applied to the balance (less the trading benefits). The exact percentage will be determined according to each Client’s circumstances which would be determined at Company’s sole discretion which will take into consideration inter alia: · The required turnover which the Client is obligated to fulfil by the bonus terms and conditions · The handling costs · The time frame of trading activity · The Company’s exposure towards third parties. For illustration purposes please see the following example: Client deposited $10,000 into his account and received a 100% bonus of $10,000; in accordance with the Company’s Bonus Policy, the client is required to reach trade volume of Total Deposit + Total Bonus X 30 = $600,000. Client reached $300,000 in trade volume and is requesting to make a withdrawal from his account prior to reaching his minimum trade turnover. The Client will first be notified of the Handling Fee calculation with respect to the Client’s request to make a withdrawal of funds. The calculation will be as follows: Total sum of deposits (not including bonus) while deducting profits or losses (including assessed losses from positions which have not yet expired) The Handling Fee obligated by the Client for breach of Bonus agreement: The maximum Handling Fee rate can incur up to 30%. Loss assessment as a result of breach of Bonus agreement: 1 – 300,000/400,000 = 0.50 · Handling Fee is equal to Loss Assessment x 30% · Handling Fee rate: 7.5% · Handling Fee sum: 10,000*7.5% = $750 The Client’s total refund will be: Total Deposit minus Client’s losses and minus the sum of $750 Handling Fee. In the event that the client’s account is in profit but has not yet reached the bonus requirements, only the initial deposit can be withdrawn minus the Handling Fee.
11. LOCKWOOD DOES NOT RECOMMEND TAKING A BONUS UNLESS YOU KNOW HOW TO MAKE IT WORK TO YOUR ADVANTAGE AS LEVERAGE.