1. Definitions
Referrer - existing customer who shares or promotes a referral link
Referee - new Shares customer
Referral Cash or Referral reward - Bonus cash awarded to referrer
Existing Customers - Existing Shares customer is someone who has completed Shares onboarding and KYC checks, has deposited money in their account and is able to trade on the platform.
Shares App Ltd is incorporated in England and Wales with company number 13374448. Registered office 1 Waterhouse Square, Holborn, London, England, EC1N 2ST. Shares App Ltd is an appointed representative of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 775330).
These terms and conditions will come into effect from the 27th of September 2023.
2. General terms
All customers wishing to participate in any Shares promotions must agree to Shares.io Trading Terms.
A referral link is only valid for new Shares customers.
The referral reward is only available where the referred customer is eligible for this promotion (as defined below) and has been accepted by Shares as a customer. This includes, completing Shares onboarding and KYC checks, depositing money into their account and being approved to trade.
The referral reward may be subject to capital gains tax when sold and the referrer/referee is responsible for meeting capital gains tax requirements.
Customers are able to invest the cash bonus as soon as it becomes available, however the possibility to withdraw a referral cash bonus only becomes available 30 days after the bonus is credited to the account.
Any tax implications will depend on the customer’s personal circumstances. If unsure about any tax implications, seeking advice from a tax professional is recommended.
Shares is the sole arbiter of the promotion and reserves the right to alter, amend, extend or foreclose the promotion at any time without prior notice.
Any particular mentions of securities throughout the referral reward do not represent a recommendation nor should it be construed as financial advice.
It is at our full discretion to remove, withdraw or block the referral reward at any given time for any customer. We will only do this if required by law, regulation or in the event of a breach of these terms and conditions.
By forwarding the link and participating in the refer a friend scheme you are consenting to the use of a pseudonymised ID to identify you as the referrer of your referees. Please refer to the privacy notice for further information.
You shall only receive a referral reward for the first 10 referees who complete the account creation as outlined below. This does not apply where the referrer is a Shares Affiliate and other terms and conditions apply.
Shares does not offer investment advice and customers should make their own decisions on investments or seek independent advice from a professional adviser. Nothing in the referral programme constitutes a personal recommendation for any securities.
3. Referrer’s terms
The referrer can participate in the referral program provided the referrer is fully onboarded and has topped up their account by a minimum of £1.
The referrer will be awarded a referral reward in cash deposited into their Shares account for every successful referral. The referral reward is deemed successful when:
- The referee has successfully signed up with a valid email address and phone number.
- The referee has passed all relevant onboarding checks and their account has been verified.
- The referee has funded their account by at least £1.
The size of the referral reward available at the time will be notified to the referrer via email and in app communication.
The referral link is not specific to each referee and can be reused to introduce multiple contacts and friends. The referral link will be rendered invalid if:
- The referrer is no longer a Shares’ customer; or
- The promotion has been ended by the Shares team.
The referee can be added as a friend on the referrer’s account during the onboarding process provided both parties agree.
The referrer cannot withdraw the referral cash until 30 days after it has settled in their Shares account.
Referral codes are for friends and family of the referrer only and should not be sent out en masse, nor should they be posted to social media or other similar platforms to acquaintances. This does not apply where the referrer is a Shares Affiliate and other terms and conditions apply.
4. Referee terms
Shares’ referral link is invalid for existing customers.
The referee will be awarded an amount to be invested in a stock (or a fraction thereof) of their choice. The stock can only be an asset already offered on the Shares platform.
The referee will be awarded the referral reward provided:
- The referee has successfully signed up with a valid email address and phone number.
- The referee has passed all onboarding checks and their account has been verified
- The referee has funded their account by at least £1.
The value of the referral reward at the time of sign up will be notified to the referee via email and via in app communication.
By choosing which stock (or a fraction thereof) to receive as a referral reward, each of the Referees expressly and irrevocably instruct Shares to issue a buy Order to Shares’ executing agent. Execution of the trade to award the referee the chosen stock will be triggered upon settlement of their initial deposit (minimum £1) into their account with a market price achieved. The referee must be aware that prices fluctuate and that prices of stocks are indicative until the transaction has been executed. This buy order and any subsequent sell order(s) in relation to the stock (or fraction thereof) will incur trading fees under Shares.io Trading Terms as applicable at the time.
A £1 trading fee will apply to each buy or sell order made on the Shares App. As we provide share dealing for UK resident investors in shares on US equity markets in United States Dollars (USD) the fee incurred includes any charges payable to us for the conversion of your local currency (GBP) order amount to USD, and vice versa, for execution of your shares order. The FX rate you’ll receive is the Interbank Rate and our £1 trading fee includes the costs related to the conversion.
Each successful referee may only invest in one stock (or fraction thereof) of their choice up to the value of the referral reward and after any applicable fees have been deducted. If the Referee sold the Reward on the App within 30 days of its receipt, the proceeds of such sale may not be withdrawn from the User’s e-money Account until the expiration of such 30 days period but may be used immediately to invest on the App.
