> ## Documentation Index
> Fetch the complete documentation index at: https://docs.magicmarkets.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Dividend

> How the partner dividend accrues, when it pays, and the rules around it.

Partners attribute the trading volume of the users they bring through their partner code. This page explains how the dividend on that volume works.

## What accrues

You accrue on the eligible taker volume of the users you directly referred: the notional value of trades they placed by taking a price already on the book. Volume from other partners' users, or from users your users referred, does not count for you.

The dividend follows volume. The programme does not pay you for your users winning or losing money.

## When it pays

The dividend is calculated after the end of each calendar month and credited to your account in USDT. It shows in transaction history as a **Referral Dividend** and is subject to the normal withdrawal terms.

The dividend can be zero in a month with no qualifying volume. There is no guaranteed minimum, and MagicMarkets makes no representation about how much any partner will earn.

## Rate-free by design

MagicMarkets does not publish a rate, a formula or a percentage for the dividend, and partners do not advertise one. The methodology is proprietary and stays that way. If you describe the programme to your audience, say this: MagicMarkets charges nothing to trade, and partners receive a monthly dividend in USDT on the eligible volume they bring.

## Rules

* Volume that MagicMarkets reasonably suspects is abusive, self-matched, coordinated, or inconsistent with the spirit of the programme is excluded from the calculation.
* Accounts that are suspended or closed stop accruing for you from that point.
* Manipulation forfeits accrued dividends and ends the partnership.

## Where the terms live

The [Referral Terms](https://magicmarkets.com/referral-program) and the [Terms of Service](https://magicmarkets.com/terms-of-service) apply to every partner. Where this page and the terms differ, the terms govern.


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