Commission Payment Policy
This Commission Payment Policy (hereinafter the “Policy”) shall establish an accurate, fair, and transparent methodology for the verification, correction, adjustment, and calculation of commission payments made by the Company to its Partners, including but not limited to Introducing Brokers, Affiliates, and any other commission-earning counterparties (collectively, the “Partners”).
1. Introduction
1.1 The “Company” shall refer to IUX Markets Limited and its subsidiaries or branches, including but not limited to:
- IUX Markets Limited is incorporated with the Financial Services Authority in Saint Vincent and the Grenadines under registered number 26183 BC 2021. At Beachmont Business Centre, 321, Kingstown, St. Vincent and the Grenadines. The physical address of the company is at 16 Foti Kolakidi, 1st Floor, Office A, Agia Zoni, 3031, Limassol, Cyprus.
- IUX Markets (MU) Ltd. is authorized by the Financial Services Commission (FSC) in Mauritius, with the Investment Dealer license number GB22200605, registered at JurisTax Ltd, Ebene House, Hotel Avenue, 33 Cybercity, Ebene, 72201, Mauritius.
- IUX Markets ZA (PTY) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 53103, registered in 18 Cavendish Road, Claremont, Cape Town, Western Cape, 7708.
1.2 This Policy forms part of our agreement. Please read this Policy completely and carefully before registering with the Company. By entering into a Partner Agreement with the Company, the Partners shall also agree with and accept all of the terms of the Policy as expressly set out below and those incorporated herein by reference.
2. Interpretation of Terms
2.1 Unless otherwise stated herein, the following terms shall have the meaning as described here below:
“Client Agreement” shall mean the Company’s trading terms and conditions that the Introduced Client accepts when opening an account with the Company, and the relevant documents are available on the Company’s official website.
“Commissions” shall mean any commission, rebates, and/or other remuneration paid or payable to the Partner by the Company for intermediation services rendered by the Partner for the conclusion of Client Agreements between the Company and the Introduced Clients identified, targeted, and referred to the Company by the Partner. The remuneration of the “Partner” or “Affiliate” will be based on a fixed fee or percentage, agreed upon between the Parties, per lot of Introduced Clients who enter into a Client Agreement with the Company further to the intermediary services provided by the “Partner” or “Affiliate.”
“Inactive” shall mean that, based on the Company records:
- the Partner has not logged into the Partner accounts or requested Commission payment; and/or
- the Company has been unable to contact or has not received adequate payment instructions from the Partner after contacting the Partner’s registered email.
“Introducing Broker” or “IB” shall mean an individual or entity that serves to introduce clients to utilize the services of a broker.
“Introduced Client” shall mean the investor who has been introduced by the Partner to the Company through a specific link provided by the Company, and with whom the Company concluded a Client Agreement.
“Partner” shall mean individuals or entities with the Company’s approval to enter the Partner’s Program who shall act as an intermediary between the Company and Introduced Clients for the conclusion of a Client Agreement. Unless agreed upon otherwise, the term “Partner” is this Policy shall not constitute partnership between the Company and the Partner.
“Partner’s Programs” shall mean the Affiliate/Partner/IB program that the Company makes available to certain individuals or entities, pursuant to the terms and conditions of the Partner Agreement, via the Company’s website, in order to engage the Partner to act as a mediator between the Company and Introduced Clients for the conclusion of a Client Agreement with the Company.
3. Scope and Services
3.1 The Policy shall apply to all Partners, at all levels of the commission hierarchy, and to all commission payments made by or on behalf of the Company, whether paid automatically, manually, provisionally, or otherwise.
3.2 The Policy shall address situations in which commissions are paid incorrectly due to data inaccuracies, error or failure in the operation of the Trading Platform, or any other cause that results in commission payments not being calculated in accordance with the Company’s applicable commission structure, terms, or criteria.
3.3 Upon the Company’s approval to enter the Partner’s Program in accordance with the Partner Agreement, the Company shall grant to the Partner a non-exclusive, non–transferable right to direct Introduced Clients to the Company’s official website.
3.4 Subject to the Partner Agreement, the Company shall automatically create an electronic wallet for each Partner upon approval of the relevant Partner’s Programs. The type of electronic wallet created, whether it is Introducing Broker wallet or the Affiliate wallet, shall depend on the Partner’s Programs applicable to such Partners.
3.5 Partner shall be compensated with Partner’s Commissions for each trading transaction (excluding any credit/bonus generated amount) performed by the Introduced Client assigned to the Partner.
3.6 The Company shall be responsible for the calculation and due payment of the Partner’s Commissions.
4. Payment
4.1 All payments shall be calculated and paid in United States Dollars (USD) only. Payments shall be credited to the Partner’s registered account as provided during the Partner Program registration in accordance with the Partner Agreement.
4.2 At the Company’s sole discretion and as deemed appropriate, the Company may accommodate alternative payment methods or currencies. Any fees, charges, or expenses arising from such alternative payment methods shall be covered solely by the Partner and may be deducted from the Partner’s Commission(s).
4.3 In the event where the Company reasonably suspects abusive trading behavior, irregular activity, or transactions conducted by Introduced Clients that may exploit, manipulate, or otherwise misuse the Company’s services, the Company reserves the right to delay, suspend, or withhold payment of any related Commission(s) until the completion of verification and investigation of such activity.
4.4 Pursuant to clause 4.3, in the event where the Company determines that the activity constitutes fraud traffic, abusive trading, manipulation, or any breach of applicable agreements or policies, the Company shall, at its sole discretion, reserves the right to:
- recalculate the affected Commission(s);
- withhold or reverse Commission(s) already credited or paid; and/or
- terminate the Partner Agreement and/or related arrangements without further liability.
4.5 Subject always to Section 5 (Adjustment of Payment) deposit of payment, acceptance of payment transfer, or acceptance of any other form of payment by the Partner shall be deemed full and final settlement of the Commission(s) due for the applicable month.
4.6 Pursuant to clause 4.5, in the event where the Partner disagrees with the Commission report or payment amount, the Partner must refrain from accepting the payment and submit a written notice of dispute to the Company within thirty (30) calendar days following the end of each month for which payment is made. Failure to submit a dispute within this timeframe shall be deemed as the Partner have waived their rights to dispute such report or payment and any related claims.
4.7 In the event where the Partner Agreement is terminated for any reason other than for cause, the Company shall pay any earned and payable Commission balance due to the Partner within sixty (60) days following the end of the calendar month in which the termination occurs. In this regard, the Partner shall remain solely responsible for providing and maintaining accurate addresses and other contact information as well as payment information associated with their accounts.
4.8 The Commission payments made under this Policy and Partner Agreement are for Partner sole use and may not be transferred or in any manner passed on to any third party unless agreed upon otherwise in writing.
4.9 The Company may hold funds, payments, or other amounts due to the Partner where the Partner’s account is deemed inactive. The Partners acknowledges and agrees that in the event where the Partner is deemed inactive for a period of two (2) years or more, the Company shall issue written notice to the Partner’s registered email, and forfeit all funds, payments, or other amounts due to the Partner, including terminate the business relationship by disabling the Partner’s account.
4.10 In the event where the Partner is inactive for ninety (90) consecutive days (e.g., no new Introduced Clients have been registered to the Company through the Partner, etc.), the Company reserves the right, at its sole discretion, to not pay any Commission to the Partner.
4.11 In the event where the Partner is also a client of the Company and maintains an active trading account, the Partner may request the transfer of Commission(s) from the Partner account to the trading account, subject to the following conditions:
- In the event of transferring the commission from the partner account to the trading account with the option of receiving the transferred amount as Balance, the Partner shall receive a specified amount of commission in Balance.
- In the event of transferring commission from the Partner account to a trading account with the option to receive the transferred amount in Credits, the Partner shall receive the entire commission in Credits. Credit may be used solely for trading purposes and cannot be withdrawn under any circumstances.
4.12 Pursuant to clause 4.11, if the Partner confirms the transfer of Commission(s) from the Partner account to the trading account, such transfer shall be final and irrevocable and may not be cancelled, reversed, or amended under any circumstances.
5. Adjustment of Payment
5.1 The Company reserves the right, at any time and without limitation, to review, audit, verify, and re-examine any data, records, calculations, reports, or transactions within the Affiliate, Partner, or IB system, or any other internal or external system used for the calculation or payment of commissions.
5.2 In the event where the Company determines, in its reasonable discretion, that any Commission has been calculated or paid incorrectly, or in a manner that does not comply with the applicable structure, hierarchy, terms, rules, or criteria defined by the Company (including any rules reflected in the Affiliate/Partner/IB System and iuxaffiliates.com), the Company reserves the right, at its sole discretion without prior notice, to amend, correct, recalculate, or reverse such Commission(s) as necessary. However, the Company shall inform the Partner at the earliest opportunity and that the latter is free to dissolve the business relationship with the Company immediately.
5.3. The Partner acknowledges and agrees that the Company may at any time review the information and relationships in the Affiliate/Partner/IB System (including partner hierarchy and client attribution). Where any Commission(s) are found to have been paid or credited contrary to the recorded hierarchy/structure of the Company’s applicable criteria, the Company may (as applicable) reverse, reallocate, debit, set-off, or otherwise adjust such Commission(s), including by applying a negative balance to the Partner’s electronic wallet, whether it is Introducing Broker wallet or the Affiliate wallet, and/or by offsetting against future Commission(s). The partner hereby agrees to accept the outcome of such adjustments and to promptly repay any net overpayment upon request.
6. Record Keeping
6.1 Subject to the Company’s Privacy Policy, the Company shall keep all relevant records, including Commission reports and notices of dispute, for a minimum of seven (7) years following the date of documentation or as long as may be required by applicable laws and regulations unless agreed upon otherwise in writing.
7. Commission Payment Policy Revision
7.1 The Company reserves the right to amend, revise, modify, change, or terminate the Policy at its sole discretion without prior notice. However, the Company shall inform the Partner at the earliest opportunity and that the latter is free to dissolve the business relationship with the Company immediately.
7.2 Any changes or updates of the Policy shall be effective immediately upon posting on the Company’s website. However, the changes shall not apply to Commissions earned in relation to transactions performed prior to the date on which the changes become effective unless agreed upon otherwise in writing.
7.3 The Partner acknowledges and agrees that proceeding the business relationship after the revision has been made shall result that the Partner implicitly agrees to the updated Policy terms.
