affiliate
accounts
The Present public offer Affiliate agreement, hereinafter referred to as Agreement, is concluded between LiteForex group of companies Inc., hereinafter referred to as Company, and any natural or legal person, hereinafter referred to as Partner, who opens a Partner’s account with the Company in accordance with the given Agreement terms. Agreement is open to access on the Company official website: http://liteforexpartner.com, hereinafter referred to as Site.
1. General terms
1.1 Partner is foremost Company’s Client possessing all the rights and obligations determined by the Agreement on Quoting System and Transactions Procedure.
1.2 Each member of the affiliate program commits himself to comply with Agreement.
1.3 The present public offer Affiliate agreement is concluded since the complete unconditional acceptance of the terms of this Agreement, i.e. the Client’s answer who received an offer of consent to make an agreement. Acceptance of Partnership Agreement recognizes the partner (contractor) the following steps:
1.3.1 Filling in the registration form in the cabinet to open Partner’s account with Company, or filling the Partner Registration short form at the Site.
1.3.2 Getting acquainted and accepting of “Internet-partner” program public offer agreement;
1.3.3 Receiving an Internet Partner affiliate code (ID);
1.3.4 Placing an affiliate link on the Internet Partner’s information resource.
1.4 Partner may act and present himself to the third parties only as a Company client.
1.5 The «Internet-partner» program is launched to draw new clients to Company through the affiliate referral links.
1.6 A client is deemed to be brought by a Partner if he opens a trading account with Company using the link available at the Partner’s information resources. This client hereinafter will be referred to as Referral.
1.7 Active client is a client, who has made no less than 5 (five) trade transactions during one calendar month. The Client’s activity is examined after the expiry of one month since account registration.
1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral.
If any data intersections (such as passport details, address, phone number, e-mail, IP-addresses or other) are detected, a Referral’s account will be excluded from a Partner’s client list and commission will not be paid for such account. Accounts operated from the same IP-address are considered as a single active account.
1.9 The Company does not provide any statements on transactions, balances and personal data of the Client.
1.10 The Client is transferred through a special affiliate link, the Partner’s affiliate code (ID) will automatically be placed in all following trading and affiliate accounts opened by that Client.
1.11 The transfer of the Client from one referral group to another is not allowed.
1.11.1 Transfer of the Client, who does not belong to any referral group, can be processed after the receipt of a confirmation message to partner@liteforex.com from the Client’s e-mail indicated in a Profile.
1.11.2 The transfer of the Client to the referral group can’t be processed if the Client was registered in the cabinet before the moment of Partner’s registration in “Internet-Partner” program.
1.12. If all trading accounts of a Client become inactive and move to archive, the affiliate code (ID) is removed from the Client's profile in cabinet. The registration of the new accounts in such profile is processed in accordance with the first registration terms described in p.1.10 of the Agreement.
1.12.1 When restoring the Inactive account from the archive, the affiliate code (ID) is not added to such account, even if the account belonged to any affiliate group at the moment it was removed to archive. Such account also can't be moved to a new or old affiliate group as per Client's request.
1.13 When settling accounts with Partner it’s implied that the sums of money on the Partner’s accounts are indicated in US dollars.
2. Partner’s Obligations
2.1 To ensure that conducted business complies with the legislation of the country of residence.
2.2 In order to draw Referrals not to use any unfair practices or techniques which conflict with the business ethics, in particular:
a) Not to place links or banners on the sites that provide or link to information contradicting to general principals of morals and ethics.
b) To avoid distribution of the viruses, malware, pop-ups, spams, including advertisements using available mail lists if an e-mail owner does not give his clear consent to such mail distribution.
c) To avoid using any search systems, contextual advertising systems or sponsored search to promote referral link.
d) other that can affect Company’s positive image.
2.3 Provide true accurate complete information about himself for fully verified profiles to the extent determined by the Trader’s Cabinet on the Company Site and report promptly about all changes in personal or contact information. A notification can be sent electronically which will enable:
a) inform Company promptly
b) confirm that a notification comes from a Partner.
2.4 To create its own partnership network, by acquiring new partners for cooperation.
2.5 Not to use a Site design and any of its elements (including full or partial content or structure duplicates) except banners or the logotype without Company’s written consent.
3. Company’s obligations.
3.1 Company is liable to pay commission fees to Partner on the terms and in the amount specified in Agreement.
3.2 Company has the right to require Partner to provide information resource to revise affiliate link; Company may deny opening a Partner’s account or terminate Agreement if a resource is not provided or items 2.1 – 2.5 of Agreement are violated.
3.3 Company doesn’t compensate missed profits or moral damage.
3.4 Company has the right to require Partner to confirm the veracity of the registration data indicated while opening a trading account. Thus, according to the AML policy published on the Company website, and requirements of the LAW 188(1)/2007 from 31.12.2007 (European Union), Company may require Partner to provide an electronic passport copy (ID) or a notarized copy, at the Company’s discretion, and some other document issued earlier than 3 months ago and containing Partner’s full name and his actual address.
3.5 Company is under no circumstances liable for any actions on Partner’s part carried out with violations of the given Agreement terms.
4. Partner’s commission.
4.1 Procedure of commission crediting to a Partner’s account:
4.1.1 Partner receives commission each time a Referral closes a position (if the difference between the prices Bid and Ask is no less than 3 pips).
4.1.2 Commission is credited to Partner’s accounts if a transaction carried out by a Referral doesn’t contradict to Company Agreement on Quoting System and Transactions Procedure. If a Referral’s transaction is considered invalid the transaction is cancelled and commission is not paid.
4.1.3 In case the Client opens opposite position, the volume is not in excess (equal or less) of volume of the locked position, the commission reward is charged only with lock position.
4.1.4 In case, the Client opens opposite position, the volume is in excess of volume of the locked position, the commission reward is charged with locked position in full, and only from covered position on locking position.
4.1.5 Partner gets commission reward from each referral’s transaction made on deposit funds. Commission reward is not charged on credit funds.
4.1.6 The Partner’s commission for attracted Referrals depends on Partner’s activity:
4.1.6.1 The initial Partner Commission rate is 1.5 (one point five) pips for each transaction closed by a Referral if the terms indicated in paragraphs 4.1.1 and 4.1.2 are met. Commission is paid automatically by a special program on a Company server.
4.1.6.2 The company increases the Partner’s Commission to 2 (two) pips, if a Partner attracts more than 6 new Active Referrals during a month.
4.1.6.3 In case if a Referral is registered in rebate service per each executed transaction (Multirebate service), Partner receives the commission in rate 0.4 (zero point four) pips for each close position made by Referrals.
4.1.6.4 In case if a Referral is registered in affiliate program “Internet partner”, Partner receives 10% of Sub-partner commission.
4.1.6.5 The Company has a right to reduce the Partner’s Commission to 1 (one) pip, if Partner attracts less than 3 new Active Referrals during a month, or if item 1.8 of Agreement is violated.
4.1.7 Check of Partner’s activity in previous month and change of commission reward rate is made within 5 (five) business days of the calendar month.
4.1.8 If at the end of 3 (three) months from the date of registration in the Affiliate Program, the amount of commissions charged from the closed positions of one Referral exceeds 50% and more of total commission amount, the Company has the right to revise the Commission for the Affiliate account.
4.1.9 Commission crediting is possible only if a Referral registers a trading account using the Partner’s link which looks like: http://www.liteforex.com/?uid=хххxxxxхх.
4.2 Partner has the right to order the withdrawal of commission for any payment system offered in the Trader’s cabinet.
4.3 Settlement of accounts with Partner.
4.3.1 Commission credited to a Partner’s account may be freely withdrawn from the system or transferred to a Partner’s trading account to its full extent at his discretion if the terms of paragraphs 4.1.1 – 4.1.5 of Agreement are met.
4.3.2 Commission withdrawals or transfers are carried out through a Trader’s cabinet on the Site.
4.3.3 Partner’s commission is paid within 5 (five) work days from the application date.
4.3.4 1 (one) U.S. dollar is a minimum withdrawal sum for electronic payment systems. For bank wire transfer it is 500 (five hundred) U.S. dollars.
4.3.5 Transfer and withdrawal commission fee is paid by Partner.
4.4 Commission is not credited to Partner if a Client violates the terms of the Company’s Regulations (see paragraphs 7.2., 7.3.).
4.5 If it is detected that paragraphs 2.1 – 2.5 of Agreement are violated by a Partner, Company has the right to terminate Agreement in an unilateral manner and cancel all unpaid commissions.
4.6 The Company reserves the right to reduce the summary Partner’s commission to 50% of the amount of Client’s account deposit, if the summary Partner’s commission, received from this Client’s account, exceeds 50% of Client’s account deposit. Also such account can be excluded from the Partner’s referral’s group.
4.7 The Commission is not credited for the trades opened by the Client on the bonus*.
5. Agreement alteration and termination.
5.1 Company has the right to make changes in the Agreement terms, updating the Agreement on the Company’s Site and mandatory inform the Partners via internal terminal mail. All changes become effective within 7 (seven) calendar days since the Agreement update at the Site.
5.2 Partner has the right to terminate Agreement by a written notification to e-mail partner@liteforex.com. Company’s obligations are considered fulfilled if all accounts with Partner are settled.
5.3 If less than 10 (ten) Referrals are drawn within 3 months since opening a Partner’s account, Company can unilaterally terminate Agreement with a subsequent Partner’s notification.
5.3.1 In accordance with paragraph 5.3 of Agreement, verification of Partners’ accounts activity is carried out regularly every 3 months.
5.4 In case if there are no balance operations on the Partner’s account during 3 (three) months, the Partner’s account is moved to archive.
5.4.1 After the Partner’s account is moved to archive, it becomes Inactive.
5.4.2. Client can be added to referral group only when Partner’s account is active.
5.4.3 If the Partner’s account is Inactive, a Client is not added to his referral group. The commission is not paid to Inactive account, including the commission for the trading operations of already existing Referrals.
5.4.4 After the restoration of the Partner’s account, Client can be added to Partner’s referral group when receiving a confirmation letter to partner@liteforex.com from the e-mail, indicated in Client’s profile.
5.4.5 Inactive account can be restored due to the Partner’s request. This procedure will be executed at Company’s discretion. After the restoration of the Partner’s account the commission for inactivity period won’t be paid.
5.5 The company reserves the right to exclude from the Partner’s referral group the accounts of the Clients, who carry out both trading and other operations using technical failures of the trading platform and trader’s cabinet, and/or perform fraudulent actions aimed at getting Partner’s commission without observance of this Agreement. Also the company reserves the right to cancel the Partner’s commission received from the trades of such Clients.
5.6 All complaints and arguments are settled through the e-mail: partner@liteforex.com
5.7 English version of the Agreement has a priority to other Agreements’ versions in case of any disagreements.
*If there is a Credit bonus on the Client’s account, and at the moment of trade opening the Margin for this trade is bigger than difference between Free Margin and Credit (M > FreeM – Cr; where M is Margin, FreeM is Free Margin, Cr is Credit), then partner’s commission is reduced pro rata the share of the Credit in the Margin.