Spread bets and CFDs are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. Losses can exceed your deposits and you may be required to make further payments. These products are not suitable for all clients therefore please ensure you understand the risks and seek independent advice.
1. Capitalised terms used but not defined herein have the meaning given to them in the CMC Markets UK plc Terms of Business or the CMC Spreadbet plc Financial Betting Terms of Business (as applicable to you), (the “Terms”), and references to the Terms below shall be construed accordingly.
2. Except as may be varied below in relation to this “refer a professional client offer” (the “Offer”), the Terms apply to this Offer. References below to ‘CMC Markets’ are collectively to CMC Markets UK plc and CMC Spreadbet plc.
3. Subject to the terms set out below, a client categorised as a professional client with CMC Markets could be eligible to receive £1,000, for referring a professional client to CMC Markets, with the referred client eligible to receive £1,000 cashback. This Offer is not available to retail clients.
4. The Offer should not form the basis of any decisions made in relation to potential CFD Margin Trades, Bets, Countdowns, or Account activity, including the decision made by a client to request to be treated as a professional client by CMC Markets. Certain retail client protections do not apply to professional clients, including but not limited to:
• Retail client leverage restriction levels.
• Negative balance protection, meaning a professional client will be able to lose funds in excess of the Account Value.
• Our communications, including financial promotions, will not be subject to all of the retail regulatory requirements including risk warnings.
5. In order to qualify for the Offer, all of the following conditions must be met:
a) You must be categorised as a professional client with CMC Markets and hold a live CFD or spread betting CMC Pro Account.
b) Your referred friend must not be a current Account holder with CMC Markets.
c) You must have an existing personal (not business) relationship with your referred friend and they must otherwise be eligible to open a live CFD or spread betting Account (as applicable) with CMC Markets.
d) Your referred friend must, prior to being referred to CMC Markets, already be categorised as a professional client in accordance with the rules of the Financial Conduct Authority, including but not limited to COBS 3.5 Professional Clients ("FCA Criteria"). Your referred friend must provide written evidence to confirm satisfaction of the FCA Criteria. Further information can be found at the Financial Conduct Authority’s handbook: handbook.fca.org.uk/handbook/COBS/3/5.html.
e) Your referred friend must successfully request to be categorised as a professional client with CMC Markets. In order to be eligible for this, your referred friend must satisfy the following criteria:
(i) below, as well as either (ii) or (iii).
(i) Your referred friend must have placed a minimum of 10 relevant trades of a significant size per quarter in the last year.
(ii) Your referred friend’s financial instrument portfolio must exceed €500,000.
(iii) Your referred friend must either work, or have worked, in the financial sector in a relevant professional position for at least one year.
f) Your referred friend must trade the equivalent of £1000 in applicable trading costs (such as Level 1 Spread, Commission, Holding Costs and/or GSLO Premium, but not market data fees) within the first 180 days following confirmation of being categorised as a professional client.
g) Your referred friend must apply for an Account via the unique link. Applications not made through the unique link will not be eligible for the Offer (both on your friend’s and your Account).
h) By forwarding your unique referral link received from CMC Markets to your referred friend you confirm that your referred friend consents to receive such communication.
i) Your referred friend must qualify for professional status whilst the Offer is live. In accordance with clause 13 below, CMC Markets can withdraw this Offer at any time without notice.
6. The relevant portion of the Offer will be credited to each Account automatically after all of the above qualifying criteria have been met. CMC Markets reserves the right to decline to open a CFD or spread betting Account (as applicable) at its sole discretion and without giving any reason for doing so. CMC Markets will not be liable for any loss caused to you and/or your friend by any delay in payment of the Offer.
7. You will not be permitted to have a power of attorney or any other authority to trade on Account(s) opened and in receipt of the Offer, at any time. Trading on an Account for which you are not the Account holder, without having a power of attorney or any other authority to trade, is a breach of our Terms.
8. This Offer must only be used for personal and non-commercial purposes. The personalised links should not be published or distributed publicly. CMC Markets reserves the right to refuse to pay you and your friend(s) where it suspects (in its sole discretion) non-compliance with this term.
9. You can only refer each friend once, and the Offer is only payable on the first Account opened by each friend. In the case of new Joint Accounts, a maximum of £1000 will be payable to the Joint Account holder and a maximum of £1000 to you, should the terms be fulfilled.
10. CMC Markets will not be liable to you or your friend in relation to the Offer (including for any losses arising as a result of use of the Offer) and the provisions of clause 7.2 of the Terms shall apply to the Offer as if set out here in full.
11. In addition to any other rights and remedies available to CMC Markets, in the case of any breach or suspected breach of the Terms in relation to an Account, CMC Markets is entitled to deem such Account ineligible for the Offer, and/or reclaim any Offer previously paid pursuant to this promotion. This promotion cannot be combined or used in conjunction with any other offer, rebate or promotion offered by CMC Markets.
12. This Offer is subject to English law and the exclusive jurisdiction of the English courts, and may be withdrawn or amended at any time, without prior notice at the sole discretion of CMC to participate. CMC Markets’ employees and members of their households are not eligible to participate.
13. CMC Markets reserves the right to amend, withdraw or restrict this Offer at any time without notice.