Referral Program Terms & Conditions

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1. Referral Program

  1. We offer a customer referral program that allows existing customers (Referrers) to provide new customers (Referees) with a unique referral code/referral link.
  2. The commencement date of the Referral Program is 24/03/2023.
  3. The program will run until we elect to terminate the program.
  4. We reserve the right to terminate the Referral Program at any time for any reason without prior notification to you.
  5. Referrers are eligible for an SGD 10 credit if a New Customer creates an eligible account using the Referrer's unique referral code/link and execute a trade.
  6. Referees are eligible for SGD 10 worth of Bitcoin if they open a fully verified or FastTrack account using the Referrers unique referral code/link and execute a trade.
  7. To qualify as an eligible account:
    1. An application for a new account to be made by the Referee using the unique referral code/link of the Referrer.
    2. The Referee must not already have a fully verified or FastTrack account.
    3. The Referee must complete either the full account verification process or the FastTrack verification process.
    4. The Referee executes a trade.
    5. The Referee and the Referrer cannot be related parties.
  8. The Referral Program does not impact the operation of the Affiliate program.
  9. The amount of Bitcoin is determined by the prevailing market price at the time we credit your account with Bitcoin.
  10. The Bitcoin will be automatically credited to the Referrer.
  11. The SGD credit will be placed onto the Referee’s account by us.
  12. Failure to use the unique referral code/link when opening a new account renders the Referrer and Referee ineligible to participate in the Referral Program.

2. How it works:

  1. IR customers (Referrers) can receive $10 of credit when they refer a friend (Referee). The Referee will also receive $10 worth of Bitcoin when they sign-up, verify (FastTrack or fully verified) and trade. There’s no first-trade minimum.

3. Timeframes

  1. The program will run indefinitely from 24 March 2023. Subject to change.
  2. There may be limited-time promotions where we may offer larger bonuses or change eligibility requirements.
  3. Or, we may remove the program altogether.
  4. Valid for new customers (referees) only.

4. Conditions of payment

  1. Referrers are valid and verified IR customers.
  2. Referees must use the unique referral code provided to them by the Referrer when signing up for the account.
  3. The Referees must not already have an Independent Reserve account.
  4. For the Referrer and Referee to receive the payments:

    The Referee must:

    1. Sign up using the referral code.
    2. Complete verifications (FastTrack or full verification).
    3. Make a deposit.
    4. Trade.
    5. There’s no minimum trade requirement.
    6. Have an address listed in Australia, New Zealand, or Singapore.
  5. Minimum trade requirements: None.
  6. Distribution of payments (fiat and Bitcoin) will be made automatically upon completion of the above criteria.
  7. Bitcoin will be allocated at the market price at the time we credit the Referee's account.
  8. The Referees' location will determine the dollar denomination (SGD). i.e. if they’re from Singapore, they will receive SGD 10 worth of credit.
    1. If the Referee resides in New Zealand, they will receive NZD 10 worth of credit.
    2. If the Referee resides outside of New Zealand or Singapore, they will receive AUD 10 worth of Bitcoin.

5. Clawback clause

  1. Fraudulent exploitation of the program will result in any payments made to Referrers and Referees being reversed.

6. Other

  1. From 24 March 2023, the existing Affiliate Program will cease to operate and will be replaced by the Referral Program, as defined in these Terms.
  2. All the brokerage % will keep accruing for users who were invited earlier within the affiliate program.