Clients can use their EUR reward paid on deposits in Dukascoins for trading.
Instead of freezing the amount of EUR reward on the MCA account until the maturity of the deposit, one can use it as additional margin for trading.
How does the program work?
If you have an active deposit in Dukascoins, where reward is paid in EUR, you can request to transfer the full amount of this EUR reward from your MCA account to your JForex trading account with Dukascopy.
Let's consider an example where you have an active Dukascoin deposit of 10’000 DUK+ that pays a reward of 5'000 EUR. This is how you would see it in your MCA account:
You decided to use this EUR reward (5'000 EUR) to fund your trading account. This is how this EUR reward transferred to the trading account would appear in its reports:
The "Blocked" status here refers to the fact that the EUR reward cannot be withdrawn or transferred. In the same time, it is fully accessible for trading, including the loss of it during the trading process.
Participation in the program for every separate EUR reward paid on a Dukascoins deposit can be revoked by the client at any time from the reporting area of the trading account by returning the entire amount of the EUR reward from the trading account to the MCA account.
What are the requirements to apply for the program?
- You need to have an ACTIVE Dukascoins deposit, where reward is paid in EUR.
- You need a JForex self-trading account in Dukascopy Bank that does not have any active bonus program subscribed.
What are the limitations?
- Dukascoin deposits whose EUR reward was used to fund a trading account become irrevocable until the client returns the entire amount of the EUR reward back to the MCA account.
- The EUR reward placed on the trading account cannot be withdrawn or transferred from the trading account until the maturity date of the deposit for which the EUR reward was attributed.
- In case the client tops up the trading account by other means (i.e. apart from the EUR reward), only the account balance exceeding the sum of all EUR rewards can be withdrawn, at the usual conditions of the Bank regarding withdrawals.
How to apply?
In order to apply for the use of the EUR reward for funding a trading account please contact your account manager or [email protected] indicating:
- The ID of the Dukascoin Deposit whose EUR reward should be transferred to the trading account.
- The account number of the JForex account you want the EUR reward to be transferred to.
Transferring of the EUR reward from the MCA account to the trading account is made by Dukascopy upon client's request.
Termination of the participation in the program may be done by the client himself/herself from the reporting area at any moment by returning the entire amount of the EUR reward from the trading account to the MCA account.
What happens when the Dukascoins deposit maturity date comes?
At the maturity date of the Dukascoins deposit the blocked EUR reward (in the example above 5'000 EUR or their remaining part) on the trading account of the client gets unblocked and becomes available for withdrawals and transfers.
The Dukascoin deposit on the MCA account (in our example 10'000 DUK+) is returned to the client in full amount.
Terms & conditions for funding a trading account with the EUR reward before maturity
- At any time but before the maturity date ("Maturity Date") of each of his Dukascoin fixed term deposit ("Deposit"), a client can ask Dukascopy Bank (or "the Bank") to transfer any and all EUR reward(s) from his/her MCA account to a JForex trading account ("the Account") with the Bank.
- The EUR reward can be used for funding of the Account only for the full amount (no partial use) and several EUR rewards can be cumulated on the Account if the client is entitled to several EUR rewards.
- Before Maturity Date, the EUR rewards cannot be transferred to a swap-free-account, to a crypto-fundable account, to a prize account or to an account where there is a blocked bonus.
- Once the EUR reward is transferred to the Account, the client can immediately and fully use it for trading on the JForex platform.
- The client understands and accepts that all funds on the Account (including the EUR reward(s)) used in trading are exposed to a risk of loss and that it is the client's sole responsibility to handle this risk e.g. by using the stop-loss level functionality on the Account.
- The transferring of the EUR reward for trading is free of charge.
- The client can freely top up the Account by other means before and after the transfer of a EUR reward(s) to the Account.
- In case the client tops up the Account, only the Account balance exceeding the sum of all EUR rewards transferred to it can be withdrawn, at the usual conditions of the Bank regarding withdrawals.
- Until the Maturity Date, the client cannot withdraw/transfer any EUR reward(s) from the Account and can only use it/them for trading on the Account.
- The termination of a Deposit before Maturity Date ("Early Termination") is possible only after returning the entire amount of the EUR reward of that Deposit from the Account to the MCA account.
- If the Account balance is less than the sum of EUR reward(s) to be returned, the client may top up the Account to bring its balance to the amount equal at least to the sum to be returned.
- At the Maturity Date(s) of the Deposit(s), the EUR reward(s) used for funding the Account or its/their residual part(s) are automatically released from limitations on withdrawals/transfers.
- The client commits to get assistance from Dukascopy Bank in case of any doubt.