The website has a referral system. Registered users have referral ids and links that they can give to other users. When a new user registers the user that is referenced gets 5% of the first deposits with a maximum cap of 2500USDC. Referral owner is going to deserve this referral value when referral join user will complete 5 trade successfully.
CloakFX referral system target to create a revenue stream for reference holder users.
CloakFX generates unique RefID and reference link for each user that signed up successfully.
When a user signed up by using other user’s RefID/reference links, the REFID holder gets 5% of the new user’s first deposit as a bonus right. Once a new user makes 5 trades successfully, then REFID owner makes can get all 5% as a bonus to his account.
Total Bonus claims shown beside the RefID owner’s total account balance. Not added to total balance, shown separately.
A bonus owner cannot open a trade with a bonus total.
Once trade opened and closed in loss, if the account has enough bonus total to cover it, then losses are covered from the bonus. Let’s say a user has 200 USDC balance and 50 USDC bonus total. Once he opens a trade and loses 30 USDC, then 30 USDC deducted from 50 USDC bonus total. The user then has a 20 USDC bonus left. If the user loses 60 USDC at one trade, then 50USDC deducted from the bonus total and difference 10 USDC deducted from the original account balance. Therefore account will have 190USDC and 0 USDC bonus.
Once trade opened and closed in profit. The user gets the same amount of bonus transferred to the original account. Let’s say a user has 200 USDC balance and a 50 USDC bonus. When a trade makes 20 USDC profit, another 20USDC from the bonus account is transferred to the main balance. In this case User has 200USDC + 20 USDC (trade profit) + 20 USDC ( transferred from bonus account) 240 USDC + 30 USDC bonus.
If in a single trade user makes a greater profit then bonus amount, all bonus amount is transferred to the main balance. Let’s say 200 USDC makes 60 USDC profit where the user has a 50 USDC bonus. Total balance will be 200USDC + 60 USDC( trade profit) + 50 USDC ( all bonus balance). Therefore the total account consists of 310 USDC + 0 USDC bonus.