Common use of CLIENT’S FUNDS USAGE AND WITHDRAWALS Clause in Contracts

CLIENT’S FUNDS USAGE AND WITHDRAWALS. 12.1. The Company shall effect withdrawals of Client funds upon the Company receiving a relevant request from the Client in the method accepted by the Company. 12.2. Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall process the Client’s request to withdraw funds on the same day that the request was made, or the next working day if the Client’s request is received outside of normal trading hours, the “cut off time”. If the request is received after “the cut off time” which means after 10.00 AM (Cyprus time), the withdrawal usually will be processed the next business day but no later than the next two business days, provided that the following requirements are met: a. The withdrawals instruction includes all necessary information; b. The instruction is to make a Withdraw Request on the Client’s Area at your Trading Account; c. The instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.); d. The account where the transfer is to be made belongs to the Client; e. At the moment of payment, the Client’s Balance exceeds the amount specified in the withdrawal instruction including all payment charges, if any; f. There is no Force Majeure event which prohibiting the Company from effecting the withdrawal; g. The Client is not subject to the verification derogation of fifteen (15) days; h. The Client is fully verified according to the Verification guidelines set forth on the Website and/or the present Agreement and/or made available to him/her via email 12.3. When the withdrawal request is processed, the transferring amount reduces the balance of the Client’s account and may cause margin call and stop out which can lead to closure of part or all of your open trades. 12.4. The Client may withdraw from his or her account any available amount that is not involved in trades and not held to meet margin requirement without closing the account. 12.5. The Client acknowledges and agrees that, where the requirements outlined in paragraph 12.2 are not met, the Company will be entitled to cancel the said withdrawal request and/or request additional information/documents. It is agreed that if the Client fails to provide the Company with the requested information within one (1) week from the day the request was made, the Company will be entitled to cancel the withdrawal request. 12.6. The Client acknowledges that the bank transfer might take up to 7 working days. The Company shall not be liable for any delay that folds beyond the Company’s control. 12.7. Any fees that are charged by bank or payment system due to funds transferring from Client’s trading account to his or her bank account or account in any other payment system will be paid by the Client. The Client is liable for correctness of provided payment details. 12.8. The Client agrees that the funds will be credited to his or her account with fee deduction that have been paid to bank or any other payment system, which the Client uses.