Terms & Conditions - Refer and Earn (Applicable for Direct Client)

1. The Referrer is a client of m.Stock.
2. A Referee is the person introduced by Referrer to open a m.Stock account.
3. Referral reward of ₹555 per account will only be paid in case Referee opens a Brokerage free account using Referrer’s referral link.
4. Your friend will receive an offer of 10% discount on the account opening fee, which will be valid as per the sanctions mentioned below:
   1. If you referred your friend by entering their number on our website, the offer will be valid from the day you refer them.
   2. If you referred your friend by sharing the referral link through WhatsApp, the offer will be valid from the day they start their account opening process.
The 10% discount offer is valid from 11th September, 2024.
5. There is no limit on the referral reward or the number of people that can be referred, effective from 1st September 2023. However, 5% TDS (Tax Deducted at Source) will be deducted as the referrer reaches ₹15,000 in the financial year, as per applicable Income Tax Law. Or 10% TDS will be applicable if the referrer is a specified person under section 206AB. Even if the referrer has Lower Deduction Certificate (LDC), TDS will be deducted as per the above-mentioned rates
6. If details of the referred client already exists in m.Stock database as an existing client or as a prospect, then it will not be considered under this scheme for referral reward benefits and the company reserves the right to exclude the said accounts for calculation of referral rewards.
7. All the verification and account opening process will be carried out by our operations team, and the company reserves the right to reject the case if the same is not in compliance with SEBI-prescribed KYC requirements.
8. The referrer will receive the referral reward once the referee trading account is activated.
9. This reward amount will be credited in referrer’s m.Stock trading account within 48 hours of referee’s account activation.
10. By participating in Refer & Earn both Referrer and Referee agree to referral details being displayed on live referral feed or any other similar form.
11. The company reserves the right to amend this offer and these terms and conditions at any time without prior notice. The decision of m.Stock on all matters relating to, or in connection with the use of this offer shall be final and binding on all parties concerned.
12. The Referrer shall not undertake any form of selling/advisory activities w.r.t. securities and shall not manage the portfolio of any person who is being referred. He/she shall strictly limit his/her role to “Referral” only.
13. This Referral program is open to all residents of India holding a valid and active trading account with m.Stock.
14. This campaign shall not be considered as an invitation or persuasion to trade or invest. m.Stock and its affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.
15. You agree that the following activities are expressly prohibited and engaging in any of these will result in immediate termination and disqualification from the Refer and Earn Program, forfeiture of existing referral invitations and accrued, but not yet received, referral rewards:
    1. Spam, bulk distribution of invitations, distribution to strangers or any other promotion of m.Stock Refer and Earn offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, SMS, publishing any article or content about m.Stock products, services etc.
    2. Advertisement of any kind in any form on any medium print, audio visual form, web etc. including social media (Facebook, Twitter, WhatsApp, Instagram, YouTube etc.), or spam under any applicable law or regulation.
    3. Fraud, attempted fraud or abuse of the m.Stock Refer and Earn offer or these Terms & Conditions.
    4. Organizing competitions, contests online, posting content about m.Stock etc.
    5. Any act or omission resulting in damage to m.Stock in any form whatsoever in nature.
16. Any grievances related to above scheme/offer/campaign would not be entertained under investor protection or grievance redressal mechanism of the Exchange.