Calculations and scenario:
- Bonus can be withdrawn from an account after the required lot volume has been traded. The required lot volume is calculated according to the formula below: Credit Bonus amount divided by 2.
- To claim the targeted withdrawal hit percentage, clients would need to email support@essencefx.com as soon as they hit each level.
- Once claim is done, the claimed amount would be transferred from Credit to Balance of MT4 Trading Account.
- *It take 24 to 48hrs of business days.
The table shows an example
Scenario A :
Deposit : USD1000
Credit : USD1000
Lot size required : 500 Lot (USD1000/2)
*Claim the credit when hit 1%,3%,5%,10%,20%,50%,100% of required lot size.
Credit Bonus Amount Percentage (%) Lot Size Requirement Amount Claimable
USD1000 1% (USD1000/2 )x 1%= 5 lot USD10
USD1000 3% (USD1000/2) x 3%= 15lot USD20
USD1000 5% (USD1000/2) x 5%= 25lot USD20
USD1000 10% (USD1000/2) x 10%= 50lot USD50
USD1000 20% (USD1000/2) x 20%= 100lot USD100
USD1000 50% (USD1000/2) x 50%= 250lot USD300
USD1000 100% (USD1000/2) x 100%= 500lot USD500
• Once hit the first level and claim, will left 10 lot in order to claim for 2nd level of bonus.
Scenario B - (Re-Deposit):
When hit 4 lot on your account and redeposit USD1000, the lot size requirement will change automatically to (USD2000/2) x 1 % = 10 lot. Client need to trade 6 more lot in order claim the bonus.
Scenario C:
After client claim for the first level of bonus, the first level is not entitled for the next deposit as the targeted lot size has increased. After hitting the 100% target, all the previous deposited credit bonus will be credited accordingly. (Provided that there were additional deposits done before reaching the 100% targeted percentage. Please refer to the Calculation Table in Scenario A.
Scenario D:
Deposit : USD1000
Credit : USD1000
Equity : USD2000
If the Equity or Balance hits 30% of credit amount or below, such as the Balance reach USD300 or Equity USD1300, the remainder Credit will be pull out. When the client make a new deposit of USD1000, a new Bonus of USD1000 will be credited.
100% Credit Bonus Terms & Conditions
Participation:
- To participate, client will need to click on the promotional banner and be directed to the registering page where the client will then be prompt to create a new trading account or select an existing account with zero balance to fund in.
- The minimum initial fund in of 100usd is required.
- Clients may only use one account with one email to claim for this bonus.
- Promotion start on June 2017.
Terms and Conditions:
- Clients may only be eligible if the account is registered under the “100% Credit Bonus” program during when the program is run, to with the client has read, agreed and understood the Terms and Conditions under the “100% Credit Bonus” program including the initial EssenceFX General Terms and Conditions.
- Clients may only be eligible for the “100% Credit Bonus” program upon client’s request through the promotional tab in the EssenceFX clients’ page. Only the latest deposits will be accounted for the “100% Credit Bonus” program.
- No fund transfer from other accounts will be accepted for the “100% Credit Bonus” program.
- The crediting of bonus will be automatic after the request has been vetted through with no dispute and the bonus funds will be reflected in the “Credit” section of the trading platform.
- Only requests with a minimum deposit of 100USD will be considered for the “100% Credit Bonus” program and a maximum of 20,000USD total credit bonus about will be granted per client.
- This bonus promotion will not be claimable using the same trading account that has registered with another promotions under by EssenceFX.
- The credited Bonus will be pull out if and once the balance or equity reach 30% of credit amount or less.
- EssenceFX has the right to amend, alter or terminate the “100% Credit Bonus” program at any time without notice. EssenceFX also reserve the rights to refuse offering of the 100% Credit Bonus without the need to provide justification. The Company will not be liable for any stop outs or any other costs that resulted from the “100% Credit Bonus” program cancellation and/or removal.
- When and if the Equity or Balance hits 30% of credit amount or below, the credit bonus will be pull out. No claims can be made for the previous unclaimed target once the bonus has been pulled out.
- If the EssenceFX suspects that a Client has abused or attempted to abuse a promotion, or otherwise acted with lack of good faith towards the Company, then the Company reserves the rights to deny, withhold or withdraw from that Client’s account the 100% Credit Bonus or promotion and if necessary to cancel any terms and conditions with respect to the Client, either temporarily or permanently, or terminate that Client’s access to the service and/or block that Client’s Account.
- Any dispute or situation not covered by these Terms will be resolved by the Company Management in a fair manner.
- The company is not liable for technical disruptions and/or breaks in the internet connection on the side of the client and any third-party services that can directly or indirectly have an effect on the client’s participation in the promotion.
- The concept of latency arbitrage, or to circumscribe the issue of connectivity delay does exist in an OTC market where the Client is buying or selling directly from the principal. The Company does not permit the practice of arbitrage on the Trading Platform.
- EssenceFX reserved the full rights and discretion to revoke the Transactions that rely on loopholes or opportunities due price latency arbitrage, without prior notice. Please refer to the “Allowed Trading Methods” on the Legal Document page on the EssenceFX site.
- In any case that the clients has forgo the initial steps of claiming the “100% Credit Bonus” before depositing funds in to the account, the client may inform EssenceFX provided that the client account has not done any trades.
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