Frequently Asked Questions (FAQs)
Question 1: How many reward points can I earn?
A) Signup points
You can currently earn:
- 10 points by registering for the rewards program
- An extra 10 points if you’re using a referral code when registering.
In either case, you won’t be awarded any points until you’ve carried out an eligible trade with your broker which has been successfully linked to you. You can find out more about eligible trades in question 5 below.
B) Rewards for Trades:
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 2: Can everyone refer people?
The referral ability is now open to all users. In order to refer users, you need to update and verify your account details then do at least one trade over 1,000 Euros.
Question 3: What benefits do I get as a referrer?
As a referrer, you can currently earn 10 points if your referred user registers using your referral code and goes on to carry out an eligible trade which we successfully link to them.
As referrer, you can also earn referred trading points. This means you’ll be awarded equivalent points to those awarded to your referred user for any eligible trades that they carry out within the first 12 months after they successfully register for the website.
Your referred user can also currently earn 10 additional reward points for signing up using a referral code once they have carried out an eligible trade which has been successfully linked to them (in addition to any available sign up rewards).
You can only earn points for referrals for so long as the referral code is valid.
Question 4: Is there a cap to the number of users I can refer?
There is no cap to the number of users that can be referred. If you have a referral code, you will be able to refer as many users as you wish but only for so long as the referral code is valid.
Question 5: 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 6: How much can I convert my points for?
Right now, the redeem functionality isn’t available. We’re working on this, but until we make it available, you will only be able to accrue awarded points.
Once the redeem functionality is available, 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 request. The conversion rate is currently EUR 1 for each 1 point you’ve earned.
Question 7: 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 8: 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 9: How can I get in touch with you about the Reward Program?
You can contact us at firstname.lastname@example.org.
Question 10: 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 11: 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 12: 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. In case you decide to sign up again later, this is possible. However, in such case, no sign up points or referral sign up points will be awarded.
Last Updated: 20/12/2019