All clients of MCSL shall be eligible to receive reward points for referring friends, family and prospective clients at MCSL. Clients will earn upto Rs.500/- brokerage reversal for each Referred Client, if the below-stated conditions are met, and till such time MCSL continues to carry on this referral scheme ("Referral Scheme"), which shall be in accordance with the extant laws, regulations, and rules prescribed by SEBI and the Exchanges (i.e. NSE, BSE, MCX) and which are applicable to stock brokers/trading members. The client making the referral will hereinafter be referred to as the "Referring Client/Referrer", and the referred individual will be known as the "Referred Client/Referee."
- Program Overview
The "Refer & Earn Program" ("Program") is offered by Master Capital Services Ltd. ("MCSL") to the eligible clients, subject to these Terms & Conditions ("T&C").
- Acceptance of Terms
Participation in the Program implies that the Referrer agree to these T&C and to all applicable laws, SEBI guidelines, and exchange regulations.
- Definitions
- MCSL: Master Capital Services Ltd.
- Referrer: An existing MCSL client who shares a referral link/code
- Referee / Referred Client: A new customer who signs up using a valid referral link/code of the Referrer.
- Referral Initiation Date: The date the referral is generated/recorded.
- Account Opening Date: The date on which the Referee's trading account is opened/activated successfully.
- First Trade Date (FTD): The date on which the Referee places their first successful order trade.
- Eligibility - Who Can Participate
The Program is applicable only for eligible clients holding a trading account with MCSL.
- Validity of Referral
A referral is considered valid only if the Referee registers using the Referrer's unique referral link/code.
Referrals are non-transferable and cannot be changed once mapped.
If the Referee already exists as a customer or prospect in MCSL systems, the referral may not be eligible.
- Eligibility Criteria for the Referee (Mandatory Conditions)
The Referee becomes eligible for Program benefits only if both conditions are met:
- (a) The Referee must successfully open/activate a trading account within 30 calendar days of the Referral Initiation Date; and
- (b) The Referee must execute at least 1 trade within 30 calendar days from the Account Opening Date.
If any condition is not met, the referral will be treated as Not Eligible and no benefits will be processed.
- Reward Offered (Brokerage Reversal to Referrer)
Eligible Referees will receive brokerage reversal credited into their Trading Ledger.
- Brokerage reversal will start from the First Trade Date (FTD) (Day 1).
- The brokerage reversal benefit is valid for 30 calendar days from FTD OR up to a maximum reversal of Rs.500 per Referee, whichever occurs earlier.
- The benefit is capped at Rs.500 lifetime per Referee account.
- Only brokerage is eligible for reversal. Statutory charges, taxes, duties, exchange fees and other levies are excluded.
- The referral amount shall be maximum of Rs.500, even if the amount of brokerage generated in the account of Referree is more than that & only Rs.500 +GST will be credited.
- Reward Processing Cycle
Brokerage reversal will be processed twice a month, typically on the 15th and 30th of each month (or next working day if a holiday).
The reversal will be credited only after reconciliation and successful processing as per MCSL system checks.
- Account Status & Benefit Stoppage
The benefit will stop immediately if the Referee's account is closed, suspended, blocked, deactivated, or restricted during the reversal window.
MCSL may cancel benefits if misuse, fraud, or suspicious activity is detected.
- Prohibited Conduct (Anti-Misuse)
Participants must not:
- Misrepresent themselves as a representative/employee/agent of MCSL
- Provide stock tips, investment advice, or promise assured returns
- Use referral links for spam, mass promotion, paid advertisements, or unethical practices
- Create multiple/dummy accounts, self-referrals, or attempt manipulation to obtain benefits
- MCSL reserves the right to disqualify and take action in case of such conduct.
- Verification & Audit Rights
MCSL may verify eligibility, referral validity, and transaction history at any point.
MCSL may withhold, cancel, or recover rewards credited if the referral is found invalid, fraudulent, or against these T&C.
- Modification / Discontinuation of Program
MCSL reserves the right to modify, suspend or discontinue the Program or alter eligibility criteria, reward structure, caps, timelines, or terms at its sole discretion without prior notice.
- Disclaimer
The Program does not constitute investment advice or solicitation to trade. MCSL shall not be responsible for any trading losses or decisions made by participants.
- Governing Law & Jurisdiction
These T&C shall be governed by Indian laws and applicable SEBI and exchange regulations. Any dispute shall be subject to the jurisdiction of competent courts/authorities in India.
By agreeing to the terms and conditions herein, all Referring Clients also hereby declare and agree to all clauses stated below. In case of any misrepresentation or any incorrect declaration is provided, such clients shall indemnify MCSL for any such damages, direct or consequential, with respect to any violations of Circulars, Rules & Regulations, Bye-Laws of all Recognized Stock Exchanges (as defined by SEBI) and any such Applicable Law in India:
- (a) I/We, having a trading account with Master Capital Services Ltd. (hereinafter referred to as "MCSL") hereby agree to and declare the below points with respect to participating in MCSL's Referral Scheme:
- (b) I/We am/are not forbidden to do any business under the Rules, Bye-Laws and Regulations of National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Multi Commodity Exchange (MCX) and National Commodity and Derivative Exchange (NCDEX) or any Recognized Stock/Commodity Exchange as defined by SEBI;
- (c) I/We have read and understood all the terms, conditions, and clauses of NSE, BSE, MCX and NCDEX with respect to the "Byelaws" of all the Exchanges, "referral schemes" rules, and rules with respect to marketing and referrals. I/We understand that by receiving referral rewards from MCSL, I/We and MCSL are both bound by the rules of the Exchanges;
- (d) I/We have read NSE Circular NSE/INSP/43029 dated 26th Dec -2019 to NSE/INSP/43824 dated 11th March 2020 and have clearly understood all the terms of the circular. Any dispute/grievance under this Referral Scheme cannot be referred to the Investor Grievance Panel at NSE and will be resolved between me and MCSL as stated in the above mentioned NSE Circular, and any such dispute should not be made public;
- (e) I/We are accepting this Referral Scheme from MCSL only for the referral of new clients/persons and have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with MCSL, providing stock tips, managing portfolios etc;
- (f) I/We acknowledge that details of clients referred to by me/us, such as; contract notes, daily margin statements, statements of accounts, etc., will not be sent to me/us from MCSL in any situation whatsoever;
- (g) I/We have, since being eligible to receive any reward points from MCSL, neither authorized to nor entered into any contracts or published any marketing material/advertisement acting as MCSL or act as a referral agent of MCSL.;
- (h) I/We have/will not post the affiliate link of my referral code on public forums without any context, and spam any such groups/platforms/pages on social media;
- (i) I/We hereby declare that, since being eligible to receive any reward points from MCSL, I/We are not an employee/Authorized Person/Sub broker of any other Trading Member (apart from MCSL) of any of the Exchanges. I/We also hereby declare that we are not a Trading Member on any of the Exchanges; and I/We are not an employee of MCSL or any associate/group entity of MCSL, and I/We are not a relative of an employee of MCSL.
- (j) I/We hereby declare that the above information is true and correct, and if any information is found to be false and incorrect, MCSL will have the right to recover the entire amount received by me/us through whatever means MCSL deems necessary.
- (k) I/We agree to indemnify MCSL and its Directors/agents/employees for any damages/claims that may arise from me/us deviating from the Rules/Bye-Laws of the Exchanges, and any terms, conditions, Policies & Procedures of MCSL.
- (l) I/We hereby declare that I/We have read, understood and agree to abide by this Policy, MCSLs terms & conditions and privacy policy on MCSL website.
- (m) I/We hereby understand this Referral Scheme, along with these terms & conditions with respect to all reward points from MCSL may be changed from time to time by MCSL, at the sole discretion of MCSL; or by any changes directed by the Exchanges/SEBI or any such regulator/quasi judicial authority. Therefore, at all times, I/We shall abide by the change in such Policies and Procedures of MCSL & Exchanges without any objections in the future.
- (n) I/We hereby understand that MCSL's management reserves all rights to withhold any such reward points / this Referral Scheme to any such referrer, at its sole discretion, for any reason whatsoever.
The offerings are subject to change anytime at the discretion of MCSL management & the referrer will be provided rewards basis the offer available at the time of provision and not at the time of link generation
