Referral Incentive Scheme Policy

Policy Brief & Purpose

This policy explains important aspects of Referral Incentive Scheme (“Referral Incentive”) for referring prospective clients to Open a Demat and Trading Account in Definedge Securities Broking Private Limited (“Definedge Securities”).

Eligibility for Referral Incentive

As per the recent guidelines by SEBI as given in the NSE Circular (Ref no. NSE/INSP/63425), brokers are prohibited from paying referral commissions to individuals not registered as Authorized Persons (AP).  

Accordingly, since 1st  September 2024,  our brokerage referral incentive policy has been changed and we will no longer be offering an incentive of 10% of brokerage revenue generated by your referred individuals.   

To ensure that your experience remains rewarding, we have updated our Referral policy as below. 

All Definedge Securities demat account holders are eligible to receive referral incentive for referring friends /family members /prospective clients to Definedge Securities. 

Each demat account holder has a unique referral link which they can find on their MyAccount dashboard. 

The referrer will earn a referral incentive of 300 wallet points for each client that opens a Definedge Securities demat account using their referral link, till such time that Definedge Securities continues to carry on this Referral Incentive Scheme, if all the following conditions are met: 

  •  The prospective client must use the referral link to open their Definedge Securities demat account. This account will be mapped to the referrer client ID. 
  • Referred clients from one client ID are not transferable to another client ID in any way possible. 
  • Individual clients cannot refer non-individual account (eg. Joint, NRI, HUF, Corporate, Partnership/LLP, Trust) 

How can you use Referral Wallet Points? 

For every client that successfully opens their Definedge Securities demat account using your unique Referral link, you will receive 300 points in your MyAccount wallet. 

You can use your Referral Wallet Points whenever you buy the PRO Subscription of the Definedge Securities products. You can also use these points to pay your AMC charges.  

Please Note – These wallet points cannot be used against brokerage or while registering for our training programs. 

Undertaking by Referrer

I/We, having a trading account with Definedge Securities Broking Private Limited (hereinafter referred to as “Definedge Securities”) hereby agree to and declare the below points with respect to accepting any payment/incentives from Definedge Securities, with respect to any referral bonus or marketing fee or incentives from Definedge Securities:

  • I/We am/are not forbidden to do any business under the Rules, Bye-Laws and Regulations of National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Multi Commodity Exchange (MCX) or any Recognized Stock Exchange as defined by SEBI;
  • I/We have read and understood all the terms, conditions, clauses of the NSE, BSE, and MCX with respect to the “Byelaws” of all the Exchanges, “incentives/referral schemes” rules, and rules with respect to marketing and incentives.
  • I/We understand that by receiving referral incentives from Definedge Securities, I/We and Definedge Securities are both bound by the rules of the Exchanges;
  • I/We have read NSE Circular NSE/INSP/43029 dated December 26, 2019 and have clearly understood all the terms of the circular. Any dispute/grievance under this scheme cannot be referred to the Investor Grievance Panel at NSE and will be resolved between me and Definedge Securities as stated in the abovementioned NSE Circular, and any such dispute should not be made public;
  • I/We are accepting this incentive from Definedge Securities strictly only for the referral of new clients/persons, and have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with Definedge Securities, providing stock tips, managing portfolios etc;
  • I/We acknowledge that details of clients referred to by me/us, such as; contract notes, daily margin statement, statement of accounts, will not be sent to me/us from Definedge Securities without the consent of the referred clients;
  • I/We will not share the referral incentive received from Definedge Securities with the client referred by me/us to provide incentive to the client.
  • I/We have/will not post the affiliate link of my referral code on public forums without any context, and spam any such groups/platforms/pages on social media;
  • I/We have not, since being eligible to receive any payment/payout from Definedge Securities, entered into any contracts or published any marketing material/advertisement acting as Definedge Securities or act as a referral agent of Definedge Securities without the explicit written permission of Definedge Securities.
  • I/We understand that publishing any marketing or advertisement material requires permission/intimation towards the Exchanges. I/We will not & have not publish/ed any marketing material without the explicit permission of Definedge Securities;
  • I/We are not an employee/ referral partner /Introducer/ Authorized Person/ Sub broker of any other Trading Member (apart from Definedge Securities) of any of the Exchanges.
  • I/We also hereby declare that we are not a Trading Member on any of the Exchanges; and
  • I/We are not an employee of Definedge Securities or any associate/group entity of Definedge Securities, and I/We are not a relative of an employee of Definedge Securities.
  • I/We hereby declare that the above information is true and correct, and if any information is found to be false and incorrect, Definedge Securities will have the right to recover the entire amount received by me/us through whatever means Definedge Securities deems proper.
  • I/We agree to indemnify Definedge Securities and its Directors/agents/employees for any damages/claims that may arise from me/us deviating from the Rules/Bye-Laws of the Exchanges, and any terms, conditions, Policies & Procedures of Definedge Securities.
  • I/We hereby declare that I/We have read, understood and agree to abide by this Policy, Definedge Securities terms & conditions, privacy policy and policies & procedures on Definedge Securities websites.
  • I/We hereby understand this policy, along with these terms & conditions with respect to all incentives from Definedge Securities, regarding referrals towards Definedge Securities may be changed from time to time by Definedge Securities, at the sole discretion of Definedge Securities; or by the Exchanges. Therefore, at all times, I/We shall abide by the change in such Policies and Procedures of Definedge Securities & Exchanges without any objections in the future.
  • I/We hereby understand that referral amount will be credited on verification of the trade in the platform within reasonable working days.
  • I/We hereby understand that Definedge Securities management reserves all rights to withhold any such incentives to any such referrer, at its sole discretion, for any reason whatsoever.
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