The SnapEx app and web trader both come with a feature called the Trading Bonus. It can be accessed from the Account page on the app if you are logged into your account.
The trading bonus appears as a distinct non-withdrawable USDT amount that is separate from the Real Account balance on your SnapEx account. It can be used for a number of ways on SnapEx with certain limitations.
Trading Bonus Basics
The trading bonus amount - set at 8 USDT - will be allocated to newly registered users through a separate wallet account. It is given to SnapEx users for meeting requirements or fulfilling certain tasks. It is also limited to be used on Real Account trading only.
It can be used for various trading functions on SnapEx such as initial margin for Market Orders, initial margin for Limit Orders, or payment for handling fees and overnight fees.
Here’s a quick list of uses for the trading bonus amount:
- Market Order's initial margin
- Limit Order's initial margin
- To pay off handling fees
- To pay off overnight fees
- As add-on margin (Variation margin)
- To pay off handling fees resulting from add-on margin
Rules of Use and Distribution
- During Market Order, Limit Order and Variation Order, the trading bonus amount will be frozen and prioritized by the system as initial margin and for handling fees deduction.
- Profits resulting from orders (Market Orders or Limit Orders) containing purely or a mixed amount of trading bonuses will be tabulated into the user’s Real Account balance and Profits can be withdrawn normally.
- Conversely, trading bonuses will be prioritized and deducted from Losses that result from orders containing purely or a mixed amount of Trading Bonuses.
- When Limit Orders containing purely or a mixed amount of Trading Bonuses as initial margin are canceled (not executed), Trading Bonuses will not be charged and will be returned to the user's account.
The trading bonus can't be withdrawn or used to pay withdrawal fees. That means no amount of trading bonus can be used to pay withdrawal fees, even if they’re only 5 USDT.
The trading bonus has an expiration date. The expiration date is determined based on an expiry timer, which starts when a user becomes inactive (i.e. fails to execute any Real Account trades) for 14 days on the platform from the last recorded time that they have received the trading bonus.
The trading bonus can only be used once. For example, imagine a user with 100 USDT Real Account Balance and 50 USDT trading bonus. The user can open a market order with 20 USDT trading bonus and pay 5 USDT in handling fees with the trading bonus as well. If this user closes their position with a 10 USDT profit, they will end up with 110 USDT Real Account Balance and only 25 USDT trading bonus left in their wallet.
Bonus Expiration Rules
- Upon the expiry date of the trading bonus, all closed positions containing trading bonuses will be recollected by the system.
- The expiry timer for the trading bonus gets reset when a user receives a new round of trading bonus from the system.
- An attempt to withdraw trading bonuses will cause the trading bonus amount to be recollected by the system. This applies to:
- Attempts to withdraw to external wallets or sell off to OTC vendors (whether or not the withdrawal or sale is approved or rejected)
- Attempts to withdraw Account Balance containing partial trading bonuses while part of the trading bonus amount has already been utilized in a Limit Order
- Attempts to withdraw Account balance containing partial trading bonuses with confirmation
Trading Bonus Priority
When the SNAP Points handling fee deduction feature is turned on, SNAP Points will be prioritized over the Trading Bonus. Any remaining handling fees that are not covered by SNAP Points will be deducted using the Trading Bonus amount that is available.
At the same time, the trading bonus amount takes priority over the user’s Real Account Balance in the above situation. In other words, in order of priority, SNAP Points > Trading Bonus > Real Account Balance.
The trading bonus feature is just one of the many ways SnapEx enables its traders to experience live trading and familiarize themselves with the platform by using it. Take advantage of the trading bonus on SnapEx to go farther with your trades.