Affiliate Program Terms

Grayrock Affiliate Program Terms

Effective date: 2nd October 2026

These Affiliate Program Terms govern participation in the Grayrock Affiliate Program, including the customer referral programme available through Grayrock Trading Journal.

The programme is operated by Grayrock Capital Pte. Ltd. (“Grayrock”, “we”, “us” or “our”). “You” and “your” mean the individual or organisation participating as an affiliate.

By accepting these Terms when applying for or activating an affiliate account, you agree to comply with them. If you participate on behalf of an organisation, you confirm that you have authority to bind that organisation.

1. Eligibility and joining the programme

You must be legally able to enter into this agreement, provide accurate application and payment information, and operate in a location supported by our programme and Stripe payout arrangement.

External applicants must submit an application for review. Approval is not automatic, and submitting an application or receiving a reserved referral code does not itself establish approval.

Active paid Grayrock subscribers may activate a referral account without a separate manual application after accepting these Terms and completing the required account checks.

There is no joining fee. An active paid Grayrock subscription is not an ongoing requirement for an approved affiliate account to remain open.

You must keep your contact, promotional-channel and payout information current. Programme approval does not guarantee earnings.

2. Referral links and attribution

Approved affiliates receive a unique referral link.

A prospective customer must register a new Grayrock account within 30 days of a valid referral click for the referral to qualify for attribution.

The first valid affiliate attribution is protected. A later affiliate link does not replace an existing valid attribution.

Once an eligible registration is attributed to you, the customer must make their first successful subscription payment within 12 months of registration to qualify for commission.

Existing customer accounts cannot acquire a new affiliate attribution by clicking a referral link after registration. Self-referrals, including purchases through accounts you own or control, are not eligible.

Referral tracking depends on the correct use of the referral link and the availability of the relevant tracking data. Browser restrictions, deleted tracking data, device changes and other technical factors may prevent attribution.

If you believe a referral has been recorded incorrectly, contact us with the available supporting information. We will review available records in good faith. We cannot guarantee recovery where reliable attribution evidence is unavailable.

3. Eligible subscription payments

Commission is earned on eligible, successful payments for Grayrock Trading Journal subscriptions made by customers validly attributed to you.

A referred customer’s commission period lasts 12 consecutive months from their first successful subscription payment. Payments made at or after the first anniversary are outside that period.

For monthly subscriptions, eligible payments received during the commission period may generate commission.

For annual subscriptions, the eligible annual subscription payment generates commission once. An annual renewal at or after the first anniversary does not qualify.

Cancellation, reactivation or a change of subscription plan does not restart or extend the commission period.

If a customer changes plans during the commission period, commission applies only to any additional eligible subscription amount actually charged, after credits and adjustments. The same revenue will not generate commission twice.

Free plans, free trials, failed payments, taxes, refunded amounts, chargebacks, fraudulent transactions and self-referred purchases do not generate commission.

4. How commission is calculated

Commission is calculated on the subscription amount actually paid after discounts and excluding taxes, refunds and chargebacks.

Grayrock does not deduct ordinary customer-payment processing fees from the commission calculation.

For example, if a subscription is discounted from US$100 to US$80 before tax, the commission at the standard 25% rate is US$20.

Commission amounts remain subject to the protection period, eligibility checks and any subsequent corrections described in these Terms.

5. Commission rates and performance tier

The standard commission rate is 25%.

Affiliates with at least 10 active paying referrals qualify for the 30% performance tier, assessed on the first day of each calendar month using Coordinated Universal Time (UTC).

The rate established for that month applies to all eligible referral payments received during the month, including payments from existing and new referrals within their original commission periods.

If the active paying referral count falls below 10 at the next monthly assessment, the rate returns to 25% for that month.

Changes in tier do not retrospectively change commissions earned in previous months.

An active paying referral is a distinct, validly attributed customer with a valid paid subscription and current paid access. Free, trial, expired, fully refunded and fraudulent accounts do not count.

A customer who cancels renewal continues to count until their paid access expires. A retained paying customer may continue to count towards the tier after their commission period ends, but payments outside that period do not earn commission.

6. Protection period, refunds and adjustments

Each commission is subject to a 30-day protection period, beginning on the date of the successful customer payment.

Commission becomes eligible for approval after that period, subject to payment verification and any outstanding refund, chargeback or fraud review. Completing the protection period does not prevent a later adjustment.

A full refund or chargeback reverses the associated commission. A partial refund reverses the proportionate commission.

If the affected commission has already been paid, we may offset the adjustment against future affiliate earnings. Adjustments will be recorded in the affiliate account.

We may correct duplicate, erroneous or otherwise ineligible commission entries. You may contact us to question an adjustment and provide relevant supporting information.

The affiliate protection period does not create or extend any customer refund entitlement.

7. Payouts through Stripe

Stripe is the programme’s sole payout method.

You must complete the onboarding, identity verification, payout-detail and other requirements applicable to the Stripe payout arrangement made available by Grayrock. Where applicable, you must accept Stripe’s terms.

Payout availability depends on your location, account eligibility and completion of the required checks. A payout email address alone is not sufficient to receive payment.

Programme balances and the payout threshold are recorded in US dollars.

The minimum regular payout is US$50 in approved commission. Balances below this threshold carry forward without expiry while the affiliate account remains open, subject to lawful adjustments and applicable law.

The monthly payout run includes approved balances recorded at the end of the previous calendar month, using UTC.

We will initiate eligible payouts through Stripe by the 15th of the month, or the next Singapore business day if the 15th falls on a weekend or public holiday.

This is the payout initiation date, not a guarantee of the date funds reach your account. Receipt depends on Stripe’s processing, account restrictions and the receiving financial institution.

If verification, invalid payment details, a payment-service restriction or an unresolved eligibility review prevents payment, the affected amount will remain pending until the issue is resolved. We will explain the reason where reasonably practicable and legally permitted.

Missing payout information does not automatically cancel legitimately earned commission.

8. Fees, currency conversion and taxes

Grayrock bears its ordinary payout-sending fees. You are responsible for receiving-bank fees and currency-conversion charges applicable to your receipt of funds.

Where conversion into another currency is required, the payment provider’s applicable conversion process and rate will affect the amount received.

You are responsible for your own tax registration, reporting and payment obligations arising from affiliate income.

We may request tax information and deduct amounts that we are legally required to withhold. Where required, we will provide the relevant withholding or payment record.

9. Permitted promotional activity

You may promote Grayrock through honest reviews, educational content, websites, social channels, trading communities and permission-based newsletters, subject to these Terms and applicable platform rules.

Your statements must accurately represent the product and your experience. You must not promise trading profits, guaranteed performance, guaranteed affiliate income or features that Grayrock does not provide.

You must clearly disclose that you may receive a commission. The disclosure must be easy to notice and placed close to the recommendation or referral link, rather than appearing only in a separate legal page.

An example is:

I may earn a commission if you subscribe through this link.

You must comply with applicable advertising, consumer-protection, privacy and electronic-marketing requirements in the locations where you promote Grayrock.

10. Advertising, coupons and prohibited conduct

Paid advertising requires Grayrock’s prior written approval of the proposed channels and campaign approach.

Bidding on Grayrock brand names, variations or misspellings is prohibited unless specifically authorised in writing.

You may share only current, Grayrock-authorised discounts or coupon offers. Invented discounts, unauthorised cashback and misleading coupon claims are prohibited.

You must not:

• Send spam or use purchased mailing lists.
• Create fake accounts, transactions or referrals.
• Generate commissions from purchases through accounts you own or control.
• Use forced clicks, cookie stuffing, concealed tracking or misleading redirects.
• Attempt to overwrite another affiliate’s valid attribution.
• Impersonate Grayrock or imply that you are its employee or authorised representative.
• Use misleading domains, advertisements or social accounts that appear to be official Grayrock channels.
• Publish fabricated reviews or unsupported product and earnings claims.
• Collect customer passwords, payment credentials or other confidential information on Grayrock’s behalf.
• Promote Grayrock through unlawful content or activity.

Approval of a channel does not approve every advertisement or statement published through it. You remain responsible for your promotional content.

11. Grayrock branding and your relationship with us

While your affiliate account is active, you may use branding and promotional materials that Grayrock makes available or approves for programme participation.

This permission is limited, non-exclusive and non-transferable. Grayrock retains ownership of its name, logos, content and other intellectual property.

You must follow any supplied brand guidelines and promptly correct or remove materials that misrepresent Grayrock or breach these Terms.

You participate independently. This agreement does not create an employment relationship, partnership, joint venture or authority to enter into commitments on Grayrock’s behalf.

You are responsible for your own promotional expenses.

12. Cancellation, suspension and termination

Customer cancellation

When a referred customer cancels their subscription, previously eligible payments remain commissionable unless refunded, reversed or otherwise ineligible. No commission arises from unpaid future renewals.

Cancellation of your own subscription

Cancelling your own Grayrock subscription does not, by itself, terminate an affiliate account in good standing.

Voluntary departure

You may terminate your participation by contacting us. New referral attribution will stop from the effective termination date.

Customers validly attributed before that date may continue to generate commission under these Terms, including the original conversion deadline and commission-period limits. Termination does not extend those limits.

Termination without breach

Grayrock may terminate participation without an affiliate breach by giving 30 days’ notice. Existing valid referrals will retain their remaining eligibility under the same original deadlines and commission periods.

Suspected or confirmed breach

We may suspend relevant referral activity or payments while investigating suspected fraud or a material breach. Where lawful and practical, we will explain the issue and give you an opportunity to respond.

If a material breach is confirmed, we may terminate participation and stop future commission eligibility from the termination date.

We may reverse commissions connected to fraud or ineligible activity. Unrelated, legitimately earned commissions will not be automatically forfeited solely because the account is terminated.

After termination, you must stop new affiliate promotion and use of Grayrock’s programme materials, subject to any written instructions about removing or updating existing content.

13. Final balances and account closure

Legitimate outstanding commissions remain subject to their protection periods and any unresolved adjustments.

Where existing referrals continue to earn commission after termination, payouts will continue under these Terms until the remaining eligibility periods end.

Once all remaining commission periods, protection periods and adjustments have been resolved, we will process the final legitimate approved balance even if it is below US$50.

You must maintain valid Stripe payout details and complete any outstanding verification requirements until final payment is complete.

Any funds that cannot lawfully or technically be paid will be handled in accordance with applicable law. They are not automatically forfeited because payout information is missing.

14. Privacy and account security

Information provided through applications, referral tracking, account administration and payout arrangements will be handled in accordance with Grayrock’s Privacy Policy and applicable law. Stripe’s privacy terms apply to information it processes.

You must keep account credentials secure and promptly report suspected unauthorised access.

Any non-public customer, programme or account information made available to you must be used only for authorised programme purposes. You must not sell, disclose or reuse it for unrelated marketing.

Participation does not authorise access to referred customers’ private trading records.

15. Service limitations and responsibility

Affiliate tools, tracking and reporting may be affected by maintenance, third-party services and technical interruptions. We do not guarantee uninterrupted availability or any particular level of earnings.

We will review reported tracking and accounting issues in good faith using the available evidence.

To the extent permitted by applicable law, neither party is liable to the other for indirect or consequential loss arising from this agreement.

Nothing in these Terms excludes liability that cannot lawfully be excluded, liability for fraud or fraudulent misrepresentation, or Grayrock’s obligation to pay commissions properly due under these Terms.

16. Changes to the programme or these Terms

We will provide at least 30 days’ notice of material changes through your registered email address or another clear account notification.

Changes will apply prospectively and will not retrospectively reduce commissions already earned.

Changes to the standard conversion deadline or commission-period duration will not shorten those periods for customers validly attributed before the change takes effect.

Changes required for legal compliance, security or fraud prevention may take effect sooner. We will explain them where lawful and reasonably practicable.

If you do not accept a change, you may terminate participation before it takes effect. The termination provisions above govern remaining commissions.

17. Governing law and disputes

These Terms are governed by the laws of Singapore.

If a dispute arises, first contact us with a description of the issue and the relevant records. Both parties will attempt in good faith to resolve the matter before starting court proceedings, except where urgent relief is needed.

Subject to any mandatory applicable law, the courts of Singapore have exclusive jurisdiction over disputes arising from these Terms.

18. Contact

Grayrock Capital Pte. Ltd.
Affiliate programme enquiries: affiliates@grayrock.asia

Please include your affiliate account identifier and relevant transaction or referral information when contacting us. Do not send passwords or complete payment credentials.