Introducing Broker (IB) Terms and Conditions
These Introducing Broker (IB) Terms and Conditions (the "Agreement") set forth the terms and conditions governing the relationship between XL Trade markets ("Company") and its Introducing Broker ("IB") Clients. By becoming an IB Client of the Company, you acknowledge and agree to abide by the terms and conditions outlined herein.
1.1 The Company offers financial services and trading opportunities to its clients through its online trading platform.
1.2 The IB Client agrees to introduce potential clients ("Referred Clients") to the Company's trading platform and services in exchange for a commission.
1.3 The IB Client shall receive a commission equal to 50% of the trade commission generated by the Referred Clients, subject to the terms and conditions of this Agreement.
1.4 The IB Client is required to have a minimum of two active clients in order to initiate the complete commission structure outlined in this Agreement. This means that the IB Client must successfully refer at least two clients who generate trade commissions in order to be eligible for the 50% commission based on the trade commissions generated by those referred clients. Until the IB Client reaches the minimum requirement of two active clients, they may not be eligible for the full commission structure and the terms and conditions of the Agreement will apply accordingly.
2.1 The IB Client agrees to act in good faith and promote the Company's trading platform and services to potential Referred Clients.
2.2 The IB Client shall not engage in any activities that may harm the reputation or business interests of the Company.
2.3 The IB Client shall not make any false, misleading, or deceptive claims regarding the Company's products, services, or performance.
2.4 The IB Client shall promptly inform the Company of any changes in contact information or other relevant details.
2.5 The IB Client acknowledges and understands that the Referred Clients are clients of the Company, and the Company shall have full discretion in accepting or rejecting any Referred Clients.
3.1 The IB Client shall be entitled to a commission equal to 50% of the trade commission generated by the Referred Clients.
3.2 The commission shall be calculated based on the total trade commission paid by the Referred Clients, excluding any additional fees, charges, or taxes.
3.3 The commission shall be paid to the IB Client on a regular basis, as determined by the Company, and subject to a minimum payout threshold as specified by the Company.
3.4 The IB Client acknowledges that the commission structure may be subject to change at the discretion of the Company. Notice of any changes to the commission structure shall be provided to the IB Client in writing.
4.1 The IB Client agrees to keep all confidential information received from the Company strictly confidential and shall not disclose or use such information for any purpose other than as required to fulfill their obligations under this Agreement.
4.2 The IB Client shall comply with all applicable data protection laws and regulations when handling any personal data obtained in connection with this Agreement.
5.1 Either party may terminate this Agreement with written notice to the other party, without cause, at any time.
5.2 The Company reserves the right to terminate this Agreement immediately if the IB Client breaches any provision of this Agreement, engages in fraudulent activities, or violates any applicable laws or regulations.
5.3 Upon termination of this Agreement, the IB Client shall immediately cease promoting the Company's services and shall no longer be entitled to receive any commissions for Referred Clients.
6.1 This Agreement constitutes the entire agreement between the parties regarding the subject matter herein and supersedes any prior agreements or understandings, whether oral or written.
6.2 This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction where the Company is located.
6.3 Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction o Client acknowledges that they have read, understood, and agreed to be bound by the terms and conditions of this Agreement.