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Frequently Asked Questions (FAQs)
Updated: 31 January 2023
Question 1: How do I sign up for Rewards?
Goldman Sachs is closing the Rewards Program in its entirety by end of February 2023 (see also Question 7 below). As from the 31st January 2023, the Rewards Program is closed to new users. For existing users points will only be awarded for eligible trades until the 9th February 2023 (including).
Question 2: How many reward points can I earn?
If you access your broker through the GS Markets Site (by going to the product you would like to trade and clicking on “Trade Now” and then “Buy” or “Sell” next to your broker’s name), you can currently earn:
- 5 points if you go on to make an eligible trade of a GS product;
- 1 point if you go on to make an eligible trade of a non-GS product.
You won’t be awarded any points unless the trade is eligible and is successfully linked to you. You can find out more about eligible trades in question 5 below.
Rewards for trades are also currently subject to the following caps:
- You can’t earn points for more than 1 eligible trade on the same day;
- You can’t earn points for more than 3 eligible trades per month;
- You can’t be awarded more than 15 points for eligible trades in a calendar month.
If you have reached a cap, further trades will be recorded in your rewards activity history page but no corresponding points will be awarded.
It’s important to note that only registered users can receive points. If a registered user is acting on behalf of a third person, it is the registered user’s account which will receive the benefit of any rewards points.
Question 3: Who can refer people?
As the program is closed for new users no more referrals can be made.
Question 4: What is an eligible trade?
We set eligibility criteria for trades for the purposes of the Rewards Program from time to time.
Currently a trade will only be eligible to be taken into account when calculating rewards points if:
- you access your broker’s website by clicking the corresponding link available on the GS Markets website (by going to the product you would like to trade and clicking on “Trade Now” and then “Buy” or “Sell” next to your broker’s name); and
- you execute a trade on your broker’s website; and
- the minimum trade volume (quantity x price) for unit based products or notional for percentage priced products) is EUR 1000 or higher.
If your trade doesn’t meet both of these requirements, you won’t earn any reward points based on it. We also need to be able to link the trade to you. If we can’t confirm that it was you who made the trade, you won’t be awarded any reward points for it.
Question 5: How much can I convert my points for?
If you request to redeem, we’ll convert your points at the end of the month when we initiate the corresponding payment. We’ll make the conversion based on the conversion rate that was applicable at the point when you made your redemption request. The conversion rate is currently EUR 1 for each 1 point you’ve earned.
Question 6: Where can I see details of the rewards points I have earned?
Go to the rewards home, the rewards overview page will contain the history of all your reward points.
Question 7: Can my participation in the rewards program be terminated?
The rewards program is a voluntary incentive offered by Goldman Sachs to registered users of this website at its discretion. Goldman Sachs therefore reserves the right to cancel points or terminate a user’s participation in the program. You can find out more in our Terms and Conditions.
Question 8: How can I get in touch with you about the Reward Program?
Question 9: Why are my points pending on the activity history?
Your points could be pending for a number of reasons. For example:
- You may not have provided all required account details;
- We could be in the process of verifying account details that you’ve provided or updated;
- We could be trying to match your trades to confirm that points can be awarded to you; or
- You may not yet have met the requirements for points to be awarded e.g. if you haven’t yet carried out an eligible trade – In this case, your sign up points will stay as pending.
Question 10: What will I see on my bank statement when I redeem points?
The reference on your bank statement for any payments you receive as part of the Rewards Program will be “GS Rewards Program”. We can’t guarantee that your bank will display this reference as such.
Question 11: What happens if I delete my account?
If you delete your account all your rewards activity history will be cleared and any awarded points forfeited.
As of: 31 January 2023