Interest Rate Promotion Terms & Conditions

1. This Interest Rate Promotion (“Promotion”) is organized by Banxso (Pty) Ltd (“Banxso” or “the Company”), FSP License Number 37699.
2. The official Banxso website, hereinafter referred to as “the Website”,
3. Participants in the Promotion must have a fully approved trading account with Banxso and consent to the terms and conditions of the Promotion.
4. Interest will be accumulated in ZAR, based on the client’s funds deposited in his trading account.
5. All funds used for the purpose of you Banxso trading account, where the interest will accumulate in, are to be held in a segregated bank account(s). Said account(s) are with any bank or financial institution, used to accepts funds, which the company will specify from time to time.
6. The client will be granted an annual interest rate of 8.7% (“Interest“), which will be allocated to the client’s account on a weekly basis, every Monday.
7. The weekly interest rate amount is calculated based on the following formula: Equity x (Annual Interest Rate/ 52 weeks)
8. The Funds deposited by the client will start accumulating Interest as of the first Monday after the client’s enrolment and consent to the promotion. It should be noted that the client will receive his/her first interest allocation on the first Monday following the enrolment and consent to the promotion.
9. On every Monday at 05:00 SAST time, according to the available trading account balance on the preceding Friday at the end of the day the calculated interest rate should be granted to the client’s account
10. Profits and Losses accumulated during current week will not be considered for the Interest calculations. The client will be entitled to receive Interest on his/her full account balance on the last Friday at the closing of the financial markets at 24:00 SAST time. If a client was enrolled and approved to the Promotion on Tuesday, he/she will start accumulating interest from the following Monday (i.e., 5 days after the client’s approval to the Promotion). The considered balance for the interest amount calculation will be the client’s Equity in the account as of Friday 24:00 SAST time.
11. If a client is suspected of abusing the Promotion, the Interest obligation will not be fulfilled and the client trading account will be suspended, pending investigation.
12. In the event of any indication of fraud, manipulation, Interest arbitrage, and/or any other forms of deceitful or fraudulent and/or abusive trading activity by the client (“Fraudulent Activity”), the Company will have the right to:

    a) Cancel the Promotion and/or any trades and/or trading profits/losses associated with the client’s account; 

    b) Terminate the client’s access to services provided by the Company and terminate the commercial engagement with such client; and 

    c) Block the Client’s account for which the Company shall have no liability or responsibility whatsoever in this respect. 

13. In the event of a dispute, Banxso’s management team will deal with the dispute in a fair manner. Once a decision has been reached by Banxso the decision will be final.
14. Additionally, this Promotion is subject to the general Terms and Conditions, which govern the client’s use of the Website, for which the client previously consented to.
15. Banxso reserves the right, at its sole discretion, to amend, remove, change, or terminate the Promotion at any time, without prior notice, or to change the Interest rate it grantsto a client.
16. Banxso reserves the right, at its sole discretion, to change and/or update and/or cancel the Promotion’s Terms and Conditions at any time, and for any reason whatsoever, by posting new Promotion’s Terms and Conditions on the Website and/or removing the Promotion from the Website. Banxso will not be held responsible, in any way whatsoever, for the client’s failure to act in accordance with the Promotion’s Terms and Conditions and/or to adhere to any changes made to the Promotion’s Terms and Conditions.
17. The client has acknowledged and fully understands that trading CFD products inherently carries risk and that they have been made aware of such risks as defined in our Risk Disclosure Policy and furthermore in our Terms and Conditions found on the Website.

ACKNOWLEDGEMENT

I__________________, the undersigned, acknowledge and agree to the above Terms & Conditions governing the Interest Rate program, as enforced by Banxso, an authorized financial services provider, FSP 37699.

Full Name and Surname _________________________________
ID Number _________________________________
Signature _________________________________
Date _________________________________