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

All clients of the Definedge Securities shall be eligible to receive referral incentive for referring friends /family members /prospective clients to Definedge Securities.

All clients of the Definedge Securities would be provided with a referral link.

Referrer would earn a referral incentive of 10% of brokerage revenue generated by each referred client with Definedge Securities, till such time 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 an account with Definedge Securities. This account will be mapped to the referrer client ID.
  • To begin earning incentives as per this scheme, an existing client would have at least 5 completed referrals against his/her client ID/trading account.
  • 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)

Payout of Referral Incentive

  • For disbursal of incentives, the minimum pay-out amount from all brokerage generated, post having 5 completed referrals against his/her client ID, must be Rs. 1,000 (One Thousand Rupees).
  • All pay-outs made to such clients under this Scheme shall be post Tax Deducted at Source (TDS) which shall be at 5% or as per Applicable Law.
  • Any additional payments with respect to GST or any other such taxes, even if any such person is eligible for the same, will not be made over and above the amount eligible to be withdrawn as per the incentive generated shown on the referral page.
  • The referral Incentive will be disbursed on monthly basis to Referrer Trading Account Ledger.
  • No eligible amount shall be paid out to any client, in case the Client ID/trading account of the client has been closed/deactivated for any reason whatsoever.
  • All eligible amounts available for disbursal will be deposited towards the client’s linked bank account which is in his/her own name and not in any other person’s name.
  • The breakup of incentive generated from each completed referral will not be shown to all referees/clients, and only a total of all incentive generated from all completed referrals will be shown to clients/referees referring prospective clients under this Referral Incentive Scheme.

The Referral Incentive policy may change from time to time at the sole discretion of Definedge Securities as updated in the website.

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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