Terms and Conditions for Referral Program


This Referral program is provided by Saxo Bank Cyprus (registration no. AE 2674). By applying for the Referral Program the participants are deemed to have accepted these Terms and Conditions.

  1. By participating in the program you acknowledge and accept that you are prohibited from presenting yourself as being an agent or employee of Saxo Bank Cyprus or otherwise hold out to represent any company within the Saxo Bank Group. Participation in the referral program shall not constitute or be deemed to constitute any form of partnership, association or joint venture between Saxo Bank Cyprus and the referrer. Under the referral program the referrer shall not act in any capacity that requires the referrer to enter in to an introducing Broker arrangement.
  2. To be eligible to qualify for any trading credit under the referral progam with Saxo Bank Cyprus, the referrer must be a direct client of Saxo Bank Cyprus and have a relationship with the individual referred.
  3. The qualifying trading credit awards available under the referral program are subject to the referee funding their account with the minimum funding requirement determined by the specified account types which are as follows:
    1. 200 EUR for referring a new Classic Account holder
    2. 1,000 EUR for referring a new Premium Account holder
    3. 2,000 EUR for referring a new Platinum Account holder

If you are a Premium or Platinum client, Saxo Bank Cyprus is able to negotiate pricing for you and your referral.

  1. Please, note that the bonus is paid in EUR, therefore, if the base currency of your account is different, conversion rate will apply a currency conversion fee:
    http://www.saxobank.com/prices/general/ and for account types:
    http://www.saxobank.com/trading-accounts/
  2. Saxo Bank Cyprus shall not provide any advice or accept any liability in relation to any tax obligation you may incur as a result of any trading credit awarded. Participants are advised to obtain independent advice in respect to any tax implications as a result of any trading credit awarded to the referrer.
  3. To qualify to receive trading credit awards as stated in (4), the individual which you refer must open their account within 90 days of referral and must:
    1. Be over 18 years of age and have their application approved by Saxo Bank Cyprus;
    2. Be a new client or a new registration of Saxo Bank Cyprus and have not previously maintained a trading account with Saxo Bank Cyprus or any other company within the Saxo Bank Group (referring yourself via a joint account will not be accepted); and not be married or in a co-habiting relationship with you or live in the same household as you;
    3. Fund their trading account with the required minimum funding requirements as in (4) and place at least one transaction within 30 days of activation.
  4. At the time of payment of any trading credit you must not have any pending account closure request and the individual referred must not have any pending withdrawal or account closure request. Any trading credit due will be paid directly in to your Saxo Bank Cyprus trading account and no other method of cash payment will be accepted.
  5. Some products offered on the Saxo Bank Cyprus trading platform are margined products and it is possible to incur losses that exceed your initial deposit or any trading credit that you receive. Under no circumstances will Saxo Bank Cyprus be liable for any losses that you or any referred individual may incur as a result of trading margined products. Saxo Bank Cyprus shall not be liable for any special indirect, incidental or consequential loss or damage relating to your participation or your inability to participate in the Referral Program. You shall indemnify and hold Saxo Bank Cyprus, its affiliates, officers and employees harmless from any claim, demand, expense, damage relating to your breach of these Terms and Conditions.
  6. Saxo Bank Cyprus reserves the right to exclude any individual or any application from the referral program. The decision of Saxo Bank Cyprus is final and you accept that Saxo Bank Cyprus will be under no obligation to provide any reason for doing so.
  7. The referral program is not open to employees and their families of any company within the Saxo Bank Group and those of any white label clients or introducing brokers who have a contractual relationship with Saxo Bank Cyprus or any other company within the Saxo Bank Group.
  8. Saxo Bank Cyprus reserves the right to amend the terms of the program or withdraw it at any time without notice.
  9. Saxo Bank Cyprus referral program is open only to clients and corporations wishing to refer clients residing in the following countries listed below.
    Israel, Slovenia, Cyprus, Bulgaria, Bosnia, Croatia, Albania, Montenegro, Serbia, Macedonia, Latvia, Lithuania, Estonia, Kazakhstan, Armenia, Georgia, Kyrgyzstan, Uzbekistan, Azerbaijan, Belarus, Moldova, Ukraine, Tajikistan, Turkmenistan, Romania, Moldova, or ultimate beneficial owners of a company residing in the above mentioned countries.
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