Subject to the terms set out below, you may be eligible to receive certain Benefits, depending on the Trading Tiers you achieve. These Terms supersede and replace the CMC Markets UK plc and CMC Spreadbet plc – CMC Price+ Scheme Terms and Conditions.
"Alpha Account" means the Account of an Eligible Client, that is subject to these Terms and receiving the Price+ Scheme together with the Benefits.
"Benefits" mean any Subscription(s), priority customer service and additional member benefits as may be included in these Terms from time to time, including the accrual of Trading Points.
"CMC Markets" shall mean CMC Markets UK plc and CMC Spreadbet plc as applicable, and references below to “us or “our” shall be construed accordingly.
"CMC Markets Platform" means the CMC Markets electronic trading platform, as updated from time to time.
"Eligible Client" means a client who meets the requirements for eligibility, according to clause 2 of these Terms.
"Price+ Scheme" means the scheme described in these Terms whereby Eligible Clients receive the Trading Discounts.
"Subscription" means the free 'Bloomberg'1 subscription that Eligible Clients receive when they move to an Alpha Account, which allows them access to content from Bloomberg on their website at www.bloomberg.com, along with other applications from time to time.
"Terms" mean these 'CMC Markets Alpha Terms and Conditions'.
"Terms of Business" refers to the CMC Markets UK plc terms of business or the CMC Spreadbet plc financial betting terms of business (as applicable to the Eligible Client).
"Tier(s)" shall mean Tier 3, Tier 4, and Tier 5 categories, as set out at clause 5 of these Terms.
"Trading Discount(s)" shall mean the point(s) earned by an Eligible Client on different asset classes and trade sizes, as set out at clause 4 of these Terms.
"Trading Point(s)" shall mean the point(s) earned by an Eligible Client on different asset classes and trade sizes, as set out at clause 4 of these Terms.
1. Capitalised terms used but not defined in these Terms have the meaning given to them in the Terms of Business. References to the Terms of Business below shall be construed accordingly. Except as may be varied below, the Terms of Business apply to this Alpha Account.
2. In order to qualify as an Eligible Client for the Alpha Account, you must satisfy the following requirements:
(a) you must have an existing trading Account with CMC Markets; and
(b) you must have a minimum account balance of £25,000; and
(c) you must have received a personalised invitation from CMC Markets and have agreed to participate in the Alpha Account via the online registration page; or
(d) you must have received a personalised invitation from CMC Markets confirming you have been automatically enrolled in the Alpha Account.
3. CMC Markets reserves the right to refuse to provide the Alpha Account to an Eligible Client, remove the provision of the Alpha Account and Benefits to any Eligible Client, or change the requirements to qualify for an Alpha Account, in its absolute sole discretion and without giving any reason for doing so.
4. Subject to these Terms, an Eligible Client can earn Trading Points every time they place a trade with CMC Markets. Trading Points will be accumulated throughout a single calendar month and an Eligible Client will receive spread discounts, depending on the Tier achieved. An Eligible Client will earn a varying number of Trading Points with trades placed across instrument types at certain trade sizes, as as set out in a table on our website, accessible here.
5. An Eligible Client will receive Trading Discounts on spread according to the Trading Points accumulated throughout the calendar month, as set out in a table on our website, accessible here. For the avoidance of doubt, Trading Discounts will not be applied to spread on trades placed through the MT4 Platform.
6. On the last day of each calendar month, at 10pm London local time, the Trading Points balance resets to zero and the Tier level and Trading Discount of the Eligible Client carries over to the following calendar month.
Example
If at the end of January an Eligible Client achieves Tier 4 status, in February the Eligible Client's Trading Points balance will reset to zero and the Eligible Client will continue to receive Tier 4 Trading Discounts for all Trades placed in February.
7. If an Eligible Client does not accumulate the required Trading Points to maintain the Eligible Client's current Tier status, the Eligible Client will lose that Tier status and the associated Trading Discounts.
8. An Eligible Client will never drop more than one (1) single Tier between two (2) calendar months.
Example
An Eligible Client receives Tier 4 Trading Discounts for the month of February due to the Trading Points accumulated in January. However, the Eligible Client does not accumulate the required Trading Points in February to maintain Tier 4, and as a result, the Eligible Client would drop a single Tier and receive Tier 3 Trading Discounts in March.
9. The Price+ Scheme will not be applied in respect of any CFD Margin Trades or Bets that are subsequently voided, reversed or cancelled by CMC Markets in accordance with the Terms of Business and related documentation. If the Price+ Scheme has already been applied in respect of any CFD Margin Trades and/or Bets that are subsequently voided, reversed or cancelled by CMC Markets, CMC Markets will reverse the Price+ Scheme Trading Discounts and Trading Points applied in respect of such CFD Margin Trades and/or Bets from an Eligible Client's Account.
10. An Eligible Client will be defaulted to Tier 3 of the Price+ Scheme automatically and will receive 2,500 Trading Points and the applicable Trading Discounts for this Tier. These Trading Points will be credited when the Eligible Client is enrolled on the Alpha scheme and at the start of each subsequent calendar month thereafter. An Alpha Account holder will never drop below Tier 3 on the Price+ Scheme.
11. If an Eligible Client no longer wishes to hold an Alpha Account, they may notify CMC Markets via email at alpha@cmcmarkets.co.uk and our Client Management team will disable the Alpha Account status as soon as reasonably practicable thereafter. Once an Eligible Client has successfully opted out of the Alpha Account status, they will need to email our Client Management team at alpha@cmcmarkets.co.uk should they wish to opt back in.
12. An Eligible Client will receive the Subscription.
13. In order to activate the Subscription, the Eligible Client will need to provide their contact details to CMC Markets who will share this data with Bloomberg. Once Bloomberg has received this information from CMC Markets, the Eligible Client will receive an email confirming their Subscription details and access links.
14. CMC Markets retains the right to suspend or terminate the Subscription of any Eligible Client if there have been less than 9 logins via the CMC Markets Platform, within a 3-month period since being enrolled into the Alpha Account.
15. CMC Markets retains the right to withdraw or amend the Subscription as a Benefit of an Alpha Account at any time, without prior notice and at its sole discretion. Where CMC Markets does withdraw or amend the Subscription, it shall not be liable for any direct or indirect loss, damages, claims or consequences in connection with, or arising out of, this decision.
16. Each Eligible Client is permitted to receive only one Subscription, regardless of having multiple Alpha Accounts. Where it is suspected that an Eligible Client holds multiple Subscriptions, CMC Markets reserves the right, in its sole discretion and without further notice to the Eligible Client, to terminate all Subscriptions and either (i) provide the Eligible Client with only one Subscription, (ii) terminate all Subscriptions, or (iii) suspend all Benefits and terminate the Alpha Account in accordance with these Terms.
17. Eligible Clients acknowledge and agree that the use of the Subscription may be subject to further terms and conditions as may be ascribed by Bloomberg.
18. CMC Markets shall not be responsible for any damages, liability, claims, consequences, whether direct or indirect, that may arise as a result of the Eligible Client's use of the Subscription and/or breach or suspected breach of the terms referred to in clause 17 above.
19. All personal data shall be processed in line with the CMC Markets Privacy Policy.
20. Although Trading Point balances are evaluated throughout the day, there may be occasions where there are delays with processing this data. CMC Markets will not be liable for any (direct or indirect) loss, damages, claims or consequences whatsoever, caused by any failure, hindrance, or delay in applying Trading Discounts to an Eligible Client's Account.
21. CMC Markets retains the right to withdraw or amend the Price+ Scheme, these Terms, Benefits and/or other features of the Alpha Account at any time, without prior notice and at its sole discretion, and shall be under no obligation to reimburse an Eligible Client for any Benefits, Price+ Scheme, and/or other features that they would have received as an Alpha Account holder. Where CMC Markets does withdraw or amend the Price+ Scheme, these Terms, any Benefits, and/or other features of the Alpha Account, it shall not be liable for any direct or indirect loss, damages, claims or consequences in connection with, or arising out of, this decision. By continuing to hold an Alpha Account, Eligible Clients will be deemed to have automatically accepted the Price+ Scheme, these Terms, Benefits and/or other features as amended.
22. In the event of any conflict, discrepancy or inconsistency between the Terms of Business and these Terms, the Terms of Business shall prevail.
23. Trading Points are non-transferable and have no cash value.
24. The Price+ Scheme does not represent a commitment to provide subsequent Benefits in the future. The Price+ Scheme is not guaranteed, promised, or otherwise owed to an Eligible Client and can be amended, reversed, removed, or cancelled at any time in CMC Markets' sole discretion.
25. The Price+ Scheme should not form the basis of any decisions an Eligible Client makes in relation to the Eligible Client's Alpha Account activity. Furthermore, the Price+ Scheme is not intended to limit an Eligible Client's liability in respect of the Eligible Client's CFD Margin Trades and/or Bets and may not be used to set off any payment obligation the Eligible Client has to CMC Markets.
26. Please note that normal rules and procedures in relation to Account Close-Out will continue to apply, and an Eligible Client should not rely on the Price+ Scheme to prevent an Account Close-Out.
27. The Price+ Scheme is subject to, and contingent upon, an Eligible Client's compliance with the Terms of Business. In addition to any other rights and remedies we may have, any breach or suspected breach of the Terms of Business will entitle CMC Markets to stop providing the Price+ Scheme immediately and without prior written notice, and/or to reclaim Price+ Scheme Trading Discounts or Points previously applied pursuant to these Terms.
28. The Price+ Scheme will not be applied in respect of any CFD Margin Trades and/or Bets that are subsequently voided, reversed or cancelled by CMC Markets in accordance with the Terms of Business and related documentation. If the Price+ Scheme has already been applied in respect of any CFD Margin Trades and/or Bets that are subsequently voided, reversed or cancelled by CMC Markets, CMC Markets will reverse the Price+ Scheme Trading Discounts or Points applied in respect of such CFD Margin Trades and/or Bets from an Eligible Client's Account.
29. An Eligible Client may have multiple Alpha Accounts, subject to clause 16.
30. All trading across all Accounts will contribute towards an Eligible Client's Trading Points balance, provided the Eligible Client has used the same email address across all its Accounts.
31. These Terms and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with them shall be governed by, and construed in accordance with, the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms.
For more information or to see whether you are eligible for our CMC Markets Alpha Account, please contact our Client Management team on +44 (0)20 3003 8111 or alpha@cmcmarkets.co.uk
1Bloomberg and its affiliated companies are the owners or licensees of all right, title and interest in or to its the mark BLOOMBERG® and the BLOOMBERG Logo mark (collectively, the “Bloomberg Marks”) and the goodwill of the business related thereto and that all use of the Bloomberg Marks by Client shall insure solely to the benefit of Bloomberg, its affiliated companies, or its licensors. Client may not display the Bloomberg Marks in any way, except as provided herein or with the prior written permission of Bloomberg.