Validity Period: 22 February 2024 at 00:01 to 5 April 2024 at 23:59.
Introduction
1. Freetrade Limited’s (“Freetrade”, “we”, “us” or “our”) transfer campaign free share (“Transfer Campaign”) is offered subject to these Transfer Campaign Free Share Terms & Conditions (“Transfer Campaign Terms & Conditions”). By taking any actions under the Transfer Campaign, you agree to be bound by these Transfer Campaign Terms & Conditions. These Transfer Campaign Terms & Conditions are governed by English law.
2. Under the Transfer Campaign one or more free shares (a “Free Share”) will be awarded to a relevant Freetrade account holder (“Account Holder”) who meets the criteria set out in these Transfer Campaign Terms & Conditions. In these Transfer Campaign Terms & Conditions, the award of the Free Share is referred to as the “Award”.
3. The Transfer Campaign will be valid for the Validity Period, unless we extend that Validity Period. We may withdraw or amend these Transfer Campaign Terms & Conditions to the extent that the withdrawal or amendment is not to your detriment, by updating them on our website.
4. “Relevant Freetrade Account” means a Freetrade SIPP and/or Freetrade ISA which is opened by you before or during the Validity Period. Freetrade Accounts are subject to Freetrade’s Terms and Conditions (which can be found here) and, if applicable, the Freetrade ISA Terms and Conditions, or the Freetrade SIPP Terms.
How you qualify for an Award
5. In order to qualify for an Award, you must:
(a) be the Account Holder of a Relevant Freetrade Account;
(b) have passed all of our onboarding checks;
(c) be a UK tax resident;
(d) have completed a W-8BEN form;
(e) have an annual Standard or Plus subscription at the time of award, and
(f) have initiated one or more Qualifying Transfers into a Relevant Freetrade Account during the Validity Period stated above.
6. A “Qualifying Transfer” means one or more:
(a) transfers of cash and/or investments which are made into a Freetrade Account from an investment account you have with another provider using the transfer links provided by Freetrade or by using the Freetrade App and which are initiated by you between 22 February - 6 April 2024;
(b) a payment of cash into your existing Freetrade Account;
which has a total value of at least £10,000 at the date the transfer/payment is received by us.
7. You will only remain eligible for an Award after you have met the criteria in Clause 5 above if you:
(a) keep the Relevant Freetrade Account open until the free share is awarded;
(b) keep the annual Freetrade subscription in effect until after the Award and pay your subscription fee on time;
(c) do not make a withdrawal or transfer which causes the value of the Relevant Freetrade Account to fall below the amount of your Qualifying Transfer(s) at any time before we make the Award;
(d) are not in breach of Freetrade’s Terms and Conditions (or the Freetrade ISA Terms and Conditions, or the Freetrade SIPP Terms, if applicable) do not have any outstanding liability to Freetrade, or have not behaved in a way that we reasonably consider to be abusive, in bad faith, or fraudulent.
Value of the Award
8. The total value of the free share(s) making up the Award is set out in the table below. We may award one or more shares to reach the free share value, at our discretion.
9. The “relevant value” is the value of the Qualifying Transfer into the Relevant Freetrade Account, unless you make one or more withdrawal(s) or transfer(s) from the Relevant Freetrade Account, in which case the “relevant value” will be reduced by the total amount of those withdrawals and transfers.
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10. Free shares will be randomly selected from a pool of instruments we select for the Transfer Campaign. The value of free share(s) means the approximate market value based on the price of the financial instrument at the time of award. You acknowledge that the value of a free share may fluctuate, meaning its price may go up or down after the Award has been made.
11. If you have more than one Relevant Freetrade Account, we look at each Relevant Freetrade Account individually to assess whether you qualify for an Award and the value of that Award. If you qualify for an Award in relation to multiple Relevant Freetrade Accounts, you will receive an Award in respect of each of those Relevant Freetrade Accounts.
Making the Award
12. We will make an Award of free shares under the Transfer Campaign by placing them into your Freetrade GIA.
13. Freetrade will use its best endeavours to award any free share to which you are entitled under the Transfer Campaign:
(a) within ninety (90) calendar days from the end of the Validity Period, if your Qualifying Transfer has been received before that date; or
(b) If your Qualifying Transfer has not been received into your Freetrade Account before the date in 13(a), by the end of the calendar month in which the Qualifying Transfer is received.
If the Award has not been made within this timeframe, you should email freeshare@freetrade.io.
14. If, within 180 days following the Validity Period, you make a withdrawal or transfer which causes the value of your Relevant Freetrade Account to fall below the amount of your Qualifying Transfers, you close the Relevant Freetrade Account or stop the applicable annual subscription, then Freetrade may clawback, sell or cancel any free share awarded or sell any other shares held by us for you and/or deduct cash you account of an equivalent value to the free share, as permitted under applicable law.
15. We may refuse to make an Award if we reasonably consider you to have engaged in activity we deem to be abusive, fraudulent, or in violation of these Transfer Campaign Terms & Conditions.
Tax implications
16. Freetrade does not give tax advice or take account of your individual tax position. You are responsible for understanding your own tax position in relation to your Freetrade Account(s) and the Award.
No advice
17. Neither the making of an Award nor any of our communications in connection with the Transfer Campaign constitute a recommendation by us to buy, sell, exercise any rights in or hold any financial instrument. Under no circumstances does Freetrade provide investment advice and individual investors should make their own decisions on what investments are right for them or seek independent advice.
Complaints
18. If you have a complaint in respect of the Transfer Campaign, you should contact our Customer Service team at freeshare@freetrade.io, where your complaint will be handled in accordance with our complaints order handling procedure.
