<b>LEAK: the VIP carve-out that strips your best referrals</b>

<b>LEAK: the VIP carve-out that strips your best referrals</b>

A partnerships lead mentioned a clause more programs are adding: once a referred trader hits a VIP volume tier, the exchange can move them to a 'direct managed' relationship — and your rev-share on that account drops or ends.

You bring them the whale. The whale graduates. You get severance, maybe.

For affiliates:
— Hunt for the <code>VIP</code> or <code>institutional reassignment</code> clause. It's usually buried near the termination section.
— Negotiate a tail: even a reduced lifetime rev-share on graduated VIPs beats a hard cutoff.
— This is exactly why rev-share-only deals on high-net-worth traffic are riskier than they look — your best outcome is the one they're most incentivized to claw back.

The better your traffic converts, the more this clause costs you. Watch this.