Deposits and Withdrawals of Fiat Funds
Deposits and Withdrawals of Fiat Funds Sample Clauses
Related to Deposits and Withdrawals of Fiat Funds
Deposits and Withdrawals 20.1. The Trading Account shall be activated upon the Client depositing the Initial Margin, according to the type of Client Account, as determined by the Company in its discretion from time to time. 20.2. The Client may deposit funds into the Trading Account at any time during the course of this Agreement. Deposits will be made via wire transfer or any other the methods accepted by the Company from time to time. The Company will not accept third party or anonymous payments in the Client Account. Deposits for Margin and any other deposits due will, unless otherwise agreed or specified by us, be required in the Currency of the Trading Account, based on your country of origin as specified in your address and as shall be specified on the Trading Platform. We shall not, and you shall not request us to, convert any monies standing to your credit or which have been paid by you into your Trading Account in one currency to another currency. The detailed information about deposit options is shown on the Website. 20.3. The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Client Account. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds. 20.4. If the Client makes a deposit, the Company shall credit the relevant Trading Account with the relevant amount actually received by the Company within one Business Day following the amount is cleared in the bank account of the Company. 20.5. If the funds sent by the Client are not deposited in the Trading Account when they were supposed to, the Client shall notify the Company and request from the Company to make a banking investigation of the transfer. The Client agrees that any charges of the investigation may be deducted from his Trading Account or paid directly to the bank performing the investigation. The Client understands and agrees that in order to perform the investigation the Client shall have to provide the Company with the requested documents and certificates. 20.6. 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 from time to time. 20.7. All Trading Account withdrawals are subject to a minimum 100 USD (or equivalent) withdrawal amount. 20.8. 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, provided that the following requirements are met: the withdrawal instruction includes all necessary information; the instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.) from which the money was originally deposited in the Trading Account or at the Client’s request to a bank account belonging to the Client; the account where the transfer is to be made belongs to the Client; at the moment of payment: o the amount specified in the withdrawal instruction (including all payment charges) does not exceed the Client’s Balance (minus any credit amount provided by us to the Client’s Trading Account or bonus not eligible for withdrawal where applicable), in case the Client has no Open Positions; or o The amount specified in the withdrawal instruction (including all payment charges) does not exceed 80% of the Client’s Balance (minus any credit amount provided by us to the Client’s Trading Account or Bonus not eligible for withdrawal where applicable), in case the Client maintains Open Positions. there is no Force Majeure event which prohibiting the Company from effecting the withdrawal. the Client is fully verified according to Verification guidelines set forth on the Website and/or the present Agreement and/or made available to him/her via email. The Client acknowledges and agrees that, where the requirements outlined in paragraph 20.7 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 said withdrawal request. 20.9. It is agreed and understood that withdrawals will only be effected towards the Client. The Company will not to make withdrawals to any other third party or anonymous account. 20.10. The manner in which we remit monies to you will be in our absolute discretion. The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative. 20.11. All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Trading Account for these charges. 20.12. Withdrawal fees may apply from time to time depending on the Client or type of Trading Account. The applicable fees may be found on the Company’s Website, at General Fees section. 20.13. Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer, the Company may be unable to correct the mistake and the Client may have to bear the loss. 20.14. We reserve the right to seek reimbursement from you, if we receive a charge-back from any credit card issuer or with respect to any other payment method, for any reason. We may obtain such reimbursement by charging your Trading Account, deducting amounts from future payments owed to you, charging your credit card or obtaining reimbursement from you by any other lawful means. All bank charges howsoever arising will be deducted from your Trading Account. 20.15. If we receive, for any reason, a dispute, claim, and/or chargeback from your credit card issuer or any other payment method you use, you acknowledge that we have the right to take any or all of the following measures, at our discretion: immediately close any or all of your open Transactions whether at a loss or a profit and debit or credit, respectively, your Trading Account in accordance with Section 19.2, with or without any notice; and/or immediately place restrictions on your Trading Account with or without any notice, including: i) the restriction on making deposits using any payment method to your Trading Account, even in cases of margin calls(s), ii) the restriction on requesting withdrawals from your Trading Account, and iii) the restriction on opening new positions on the Trading Platform; the duration of the restrictions will be set at the Company’s discretion and/or Terminate the present Agreement and/or Impose a charge of “USD 150-research fee” to your Trading Account upon receiving the chargeback by our merchant provider to cover our investigative expenses, to prove that you did make the deposit and you hereby authorise us to charge this amount to your Trading Account or credit card.
