GalleonFX - 01/09/08 Affiliate Status and Commissions Update

We have been making lots of progress on finalizing many parts of our custom IB Affiliate system. All accounts funded as of Dec 2007 have been updated as Funded in the Affiliate Area. The first run of default commissions has been calculated as well.

If you have been promised, earned or granted Introducing Broker (IB) status with Galleon to earn a higher rate of commission please check that your Affiliate records are updated properly in the Affiliate Area. In the Affiliate Area you will see a link that shows you exactly what rate you're being paid at.

Keep in mind the percentage commission rates show in the Affiliate Area are based on the gross commissions Galleon receives.

For example:

2% of your clients profits would be shown as 8% of Galleon's gross commissions
5% of your clients profits would be shown as 20% of Galleon's gross commissions
1% of your clients profits would be shown as 4% of Galleon's gross commissions

If you feel you have qualified for IB status and your Affiliate record is still showing you are being paid the default commission amounts please contact us and we will review your Affiliate account for qualifications.

Forgot to use your friends referring ID?

If you or someone you referred registered at Galleon and did not enter a proper referral code, now is your last chance to get that straightened out. If you suspect something is wrong in your affiliate records and or someone may not have been given proper credit please contact us with as much detail regarding the situation as possible so we can quickly resolve the situation. If when we go to make our first commission run you have not contacted us with proper information and resolved the issue by then, it will be to late. So please help us to help you and let's get any such issues resolved quickly.

Referring Yourself ? A chance to come clean.

Several affiliates have been reported by their uplines for referring themselves. If everyone did this there would be no since if having an Affiliate program and most of you would never have heard of Galleon. In order to maintain the integrity of our Affiliate Program Affiliates are approved and reviewed manually to ensure people are not referring themselves. Upline Affiliates also often report when they see such suspicious referrals. One of the reasons it is taking us longer to get done with commissions is because we are having difficulties matching up some accounts because there are often multiple accounts or people have referred themselves.

Before we pay any commissions to anyone each Affiliate entity will be validated for uniqueness. If we find suspicious accounts referring themselves before we are ready to make our first commission payout they will be flagged and frozen until we have free time to sort things out (which is not that often if ever).

I think with the help of of our current Affiliates and users that we can get this all resolved quickly. If we find this problem becomes overwhelming and continues, we may have to enforce more requirements on Affiliates (such as requiring Affiliates to have referred a certain number of funded accounts before any commissions would be paid out to them)

Payouts and Debit Cards for commissions

We have most of the details worked out for providing affiliates with VERY inexpensive multi-function debit cards they can use to receive their commissions and load up with money. Affiliates that are owed anything over $1000 can request bank wires if you agree to paying appropriate wire fees. In the near future we should be having more information on our website so that Affiliates can order their debit cards. Keep watching our website for more information.

Please contact us if corrections are needed.

Once again, if you have any concerns that something in your affiliate records may be incorrect please contact us with as many details as possible as soon as possible using the Contact Us page on our website.

Thanks to all our Affiliates for all your help.

Many Thanks to all our great affiliates for all your help and support over the last few years through our tough times, good times and even better times to come. With your help, Galleon has matured into a world class operation now getting world wild attention.