This article will help you get started, with the Welcome Rewards offer and how to use them. Welcome rewards are available to all newly registered clients. These rewards are credited in the form of J USD, an internal reward currency designed to reduce your trading costs and enhance the efficiency of your trades.
How it Works?
The process involves three main steps: earning the rewards, transferring them to your trading account, and receiving cashback on your trades.
1. Complete Tasks to Earn J USD
You can earn J USD by completing three simple tasks. Once a task is completed, the corresponding J USD amount is credited to your Reward Wallet (not directly to your trading account balance).
- Task 1: Complete full verification — Earn 25 J USD
- Task 2: Make a first deposit (any amount) — Earn 25 J USD
- Task 3: Make a first trade (any volume/instrument) — Earn 50 J USD
2. Transfer J USD to Your Trading Account
To utilize your rewards, you must manually transfer them from your Reward Wallet to your active trading account.
- Navigate to the Reward Wallet.
- Click "Transfer to account."
- Select the trading account you wish to allocate funds to and specify the amount of J USD.
Note: Once allocated, you will not see J USD appear as a balance or credit in MetaTrader. The Welcome Reward is tracked separately. You can view the allocated record in the "Reward on accounts" section or on the "Bonus transactions" page.
3. Trade and Receive Cashback
Once the J USD is allocated, simply trade on that specific account.
- The Benefit: Up to 50% of the spread and/or commission (for Raw Spread accounts) will be covered by your J USD balance.
- The Payout: This amount is returned to your trading account balance as cashback the next day after you traded.
- Tracking: You can track the progress of your J USD usage and total cashback received by visiting the Reward Wallet and selecting Received Cashback.
Terms and Validity
It is important to keep track of the expiration dates for your rewards:
- Initial Validity: J USD is available in your Reward Wallet for 30 days from the date you receive it.
- Allocation Validity: Once you transfer J USD to a trading account, you have an additional 30 days to trade with it and generate cashback.
- Expiration: If you have open orders at the time of expiration, and J USD has already been applied to them, the J USD will remain active for those specific orders.
Example of Validity:
- You receive 100 J USD on March 1 (Expiration: March 30).
- You transfer 50 J USD to your trading account on March 15.
- The expiration date for that specific 50 J USD becomes April 15.
Examples: How J USD Cashback is Applied
The following examples illustrate how the cashback is calculated based on your trading activity.
Example 1: Standard Trading
- Scenario: You have 10 J USD allocated. You trade 1 lot of EUR/USD with a spread of 10 USD.
- The Trade: You open the order as usual without upfront discounts.
- The Cashback: The next day, 50% of the spread (5 USD) is credited to your trading account balance.
- J USD Deduction: 5 USD is deducted from your allocated J USD.
Example 2: Raw Spread Account (Spread + Commission)
- Scenario: You have 10 J USD allocated. You trade 1 lot of EUR/USD with a spread of 10 USD and a commission of 6 USD.
- The Trade: You open the order as usual.
- The Cashback: The next day, you receive 50% of the spread (5 USD) + 50% of the commission (3 USD) for a total of 8 USD.
- J USD Deduction: 8 USD is deducted from your allocated J USD.
Example 3: Partial Coverage (Insufficient J USD)
- Scenario: You only have 3 J USD remaining. You trade 1 lot of EUR/USD with a spread of 10 USD.
- The Calculation: 50% of the spread would be 5 USD, but you only have 3 J USD available.
- The Cashback: The next day, you receive 3 USD (the maximum amount available in your J USD balance).
- J USD Deduction: Your remaining 3 USD is deducted, bringing your J USD balance to 0.
Note: all cashback amounts are automatically converted to your trading account currency upon credit.