Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 or more or if you make over 10 separate deposits to your Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction limits We may require you to limit the number of open transactions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. We may require you to limit the number of open transactions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective position. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilised for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. If you request a withdrawal of monies from your Account and we cannot comply with it without closing some part of your open transactions, we will not comply with the request until you have closed sufficient transactions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawal procedure In order for us to be able to process your withdrawal request, you need to: • login into your account, Trade module; make sure your Wallet amount is, at a minimum, equal with the amount you wish to withdraw; if not, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic email received from us. We will check again your identification documents (ID, proof of residence, compliance questionnaire), your account activity, your account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not placed a request; • opened or closed requests; and/or • made a deposit into the Clients account; for a period of 90 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”). Where the Client has and continues to: • place a request; • open or close requests; and/or • made a deposit into the Clients account; the account shall be classified by the Company as an Active Account (" Active Account"). The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" Dormant Account"). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's wish to reactivate the Dormant Account. The Client's Dormant Account will then be reactivated (subject to, if required, up- to-date Know Your Client documentation provided to the Company by Client) and become an Active Account. However where the Client has not done the following with the Active Account: • place a request; • open or close requests; and/or • made a deposit into the Clients account; for a period of 90 days and more, then this account will once again become a Dormant Account. Where the Client's account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no opened transactions; ,the account should be moved to a special group, without the ability to open new positions. For reactivation, the Client needs to request this in writing to "xx@xxxxxxxxxxxxxx.xxx". Islamic accounts We might offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. While a client may file a request for an Islamic (Swap-free) account at any time, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and all of such client’s Swap-free Accounts during the period for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with us.
Appears in 4 contracts
Samples: Services Agreement, Services Agreement, Services Agreement
Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 10,000 or more or if you make over 10 separate deposits to your trading Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction Position limits We may require you to limit the number of open transactions positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction position limits are maintained. We may require you to limit the number of open transactions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective position. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies money may be withdrawn by you from your Account provided that such monies money are not being utilised utilized for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possibleexecution, Company must process the client’s request to withdraw funds on the same day that the request to withdraw funds was made, or the next working day if the client’s request is received outside of normal trading hours. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. In some cases, we are unable to return funds to the original credit card due to restrictions by card issuer or country. Consequently, client accepts any alternative methods of the settlements. If you request a withdrawal of monies money from your Account and we cannot comply with it without closing some part of your open transactionspositions, we will not comply with the request until you have closed sufficient transactions positions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawal procedure In order Closing of a client’s account Back Office / Account Opening Department shall be responsible for us to be able to process your withdrawal request, you need toclosing a client’s account under the following circumstances: • login into your Closing of an account upon client’s request If a client requests to close his/her account, Trade module; make sure your Wallet amount isBack Office / Account Opening Department must verify that the client provides them with clear instructions about their request in written form. In turn, funds in client’s accounts shall all be withdrawn and settled on the same day that the request to withdraw funds was made, or the next working day if the client’s request is received outside of normal trading hours. Note that Back Office Department must keep all records and transactions made by the client for at least 5 years after the termination of his/her account. • Closing of an account when client has passed away If a minimumclient has passed away, equal with the amount you wish inheritor or the person who acts on behalf of the client (e.g. lawyer) is responsible for providing instructions to withdraw; if notthe Back Office Department for closing the client’s account. The Back Office Department shall also request a Death’s Certificate, as well as the bank details of the inheritor(s) for transferring the underlying funds to the inheritor. Dormant Account An account shall be considered as dormant, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section absence of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic email received from us. We will check again your identification documents (ID, proof of residence, compliance questionnaire), your account activity, your account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not placed a request; • opened or closed requests; and/or • made a deposit into the Clients account; activity for a period of 90 days and more, shall be classified by at least one (1) calendar year. Upon the end of the calendar year the Company as will undertake an Inactive Account (“Inactive Account”). Where the Client annual review of all accounts and identify these where no activity has and continues to: • place a request; • open or close requests; and/or • made a deposit into the Clients account; the account shall be classified by the Company as an Active Account (" Active Account"). The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" Dormant Account"). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's wish to reactivate the Dormant Account. The Client's Dormant Account will then be reactivated (subject to, if required, up- to-date Know Your Client documentation provided to the Company by Client) and become an Active Account. However where the Client has not done the following with the Active Account: • place a request; • open or close requests; and/or • made a deposit into the Clients account; occurred for a period of 90 days and more, then this 1 (one) calendar year. All such accounts will be classified as Dormant. Once an account will once again become a Dormant Account. Where the Client's account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no opened transactions; ,the account should be moved to a special group, without the ability to open new positions. For reactivationis treated as Dormant, the Client needs will be informed accordingly in order to request this in writing to "xx@xxxxxxxxxxxxxx.xxx"obtain Client’s instruction for further actions. Islamic accounts We might offer If the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. AccordinglyClient doesn’t respond for notification and has remained inactive for a following 1 month’s period, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the Company reserves the right to require an adequate justification for and/or proof close the account unilaterally and return all of the necessity or need Client’s funds remained after deduction of any such conversionmaintenance fee to the initial source. FurthermoreDormant Accounts can be re–activated upon confirmation by the client and provision/review of the available documents and ensuring that all due diligence and KYC documentation procedures have been followed. If the Client wishes to make a deposit and start trading again, we reserve they will have to provide updated documentation. The Company reserves the right to refuse charge a fixed administration fee of €20 (twenty Euros) every year in order to maintain the processing account, on the condition that the Client account has the available funds. The maintenance fee shall be deducted from the Client’s account on the last day of any such request the period of which the account becomes Dormant. The Company strives to ensure and keep correspondence with each respective Client and will inform the Client by email that their account is treated as Dormant Account and fee is charged to maintain the account. If the Client account does not have the necessary funds for any reason whatsoever, without being obliged to provide any explanation or justification. While the maintenance fee and has remained inactive for a client may file a request for an Islamic (Swap-free) account at any timefollowing 3 months’ period, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve Company reserves the right to revoke the Swap-free status granted charge a lower amount to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest cover maintenance expenses and or costs pertaining to close the account unilaterally. If the Client account does not have any and all of such client’s Swap-free Accounts during funds on the period account has remained inactive for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, a following 1 month the Company reserves the right to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with usthe account unilaterally.
Appears in 1 contract
Samples: Client Agreement
Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 10,000 or more or if you make over 10 separate deposits to your trading Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction Position limits We may require you to limit the number of open transactions positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction position limits are maintained. We may require you Negative Balance Protection Unicorn Forex Brokers (UNFXB LTD). is an online trade company registered . location at Agias Xxxxx 22A 1st floor Flat /Office 101 0000 Xxxxxxxx Xxxxxx , Reg. No. HE415055 Tel : +00 000 000 0000 xxxxx://xxxxx.xxx UNFXB LTD Negative Balance Protection ensures that traders do not lose more than the balance on their account – even if the market moves quickly or gaps. In the event of negative balance during high volatility or market gap on the opening of an asset, UNFXB LTD resets the accounts with negative balance to limit the number of open transactions which you may have Zero with us at any time and we may in no additional costs passed to our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective positionclients. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilised for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. If you request a withdrawal of monies from your Account and we cannot comply with it without closing some part of your open transactionspositions, we will not comply with the request until you have closed sufficient transactions positions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawals may be subject to withdrawal fee of 5% depending on banking institution and method used. Withdrawal procedure In order for us to be able to process your withdrawal request, you need to: • login into your account, Trade module; make sure your Wallet amount is, at a minimum, equal with the amount you wish to withdraw; if not, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form application, we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic client area ir by sending us an email received from us. to xxxxxxxxxx@xxxxx.xxx We will check again your identification documents (ID, proof of residence, compliance questionnaire), your trading account activity, your trading account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. Unicorn Forex Brokers (UNFXB LTD). is an online trade company registered . location at Agias Xxxxx 22A 1st floor Flat /Office 101 0000 Xxxxxxxx Xxxxxx , Reg. No. HE415055 Tel : +00 000 000 0000 xxxxx://xxxxx.xxx In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Please note that the minimum withdrawal for Cent account is $25 or equivalent and for all the other accounts is $50 or equivalent. *some exceptions apply. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not Not placed a requesttrade; • opened Opened or closed requestspositions; and/or • made Made a deposit into the Clients trading account; for a period of 90 60 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”)) and inactivity fee of 15 EUR (or equivalent) is applied. If the client remains inactive after the first deduction, then every 15 days inactivity fee of 15 EUR is applied. Where the Client has and continues to: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; the account shall be classified by the Company as an Active Account (" ” Active Account"). ”) The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" ” Dormant Account"”). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's ’s wish to reactivate the Dormant Account. The Client's ’s Dormant Account will then be reactivated (subject to, if required, up- to-up to date Know Your Client documentation provided to the Company by Client) and become an Active Account. However However, where the Client has not done the following with the Active Account: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; Unicorn Forex Brokers (UNFXB LTD). is an online trade company registered . location at Agias Xxxxx 22A 1st floor Flat /Office 101 0000 Xxxxxxxx Xxxxxx , Reg. No. HE415055 Tel : +00 000 000 0000 xxxxx://xxxxx.xxx for a period of 90 60 days and more, then this account will once again become a Dormant Account. Where the Client's ’s account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no No opened transactionspositions; ,the account should be moved to a special group, without the ability to open new positions. For reactivation, the Client needs to request this in writing to "xx@xxxxxxxxxxxxxx.xxx". Islamic accounts We might offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. While a client may file a request for an Islamic (Swap-free) account at any time, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and all of such client’s Swap-free Accounts during the period for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with us.xxxxxxx@xxxxx.xxx
Appears in 1 contract
Samples: Single Agreement
Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 10,000 or more or if you make over 10 separate deposits to your trading Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction Position limits We may require you to limit the number of open transactions positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction position limits are maintained. We may require you Negative Balance Protection UNFXB LTD Negative Balance Protection ensures that traders do not lose more than the balance on their account – even if the market moves quickly or gaps. In the event of negative balance during high volatility or market gap on the opening of an asset, UNFXB LTD resets the accounts with negative balance to limit the number of open transactions which you may have Zero with us at any time and we may in no additional costs passed to our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective positionclients. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilised for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. If you request a withdrawal of monies from your Account and we cannot comply with it without closing some part of your open transactionspositions, we will not comply with the request until you have closed sufficient transactions positions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawals may be subject to withdrawal fee of 5% depending on banking institution and method used. Withdrawal procedure In order for us to be able to process your withdrawal request, you need to: • login into your account, Trade module; make sure your Wallet amount is, at a minimum, equal with the amount you wish to withdraw; if not, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form application, we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic client area ir by sending us an email received from us. to xxxxxxxxxx@xxxxx.xxx We will check again your identification documents (ID, proof of residence, compliance questionnaire), your trading account activity, your trading account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Please note that the minimum withdrawal for Cent account is $25 or equivalent and for all the other accounts is $50 or equivalent. *some exceptions apply. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not Not placed a requesttrade; • opened Opened or closed requestspositions; and/or • made Made a deposit into the Clients trading account; for a period of 90 60 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”)) and inactivity fee of 15 EUR (or equivalent) is applied. If the client remains inactive after the first deduction, then every 15 days inactivity fee of 15 EUR is applied. Where the Client has and continues to: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; the account shall be classified by the Company as an Active Account (" ” Active Account"). ”) The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" ” Dormant Account"”). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's ’s wish to reactivate the Dormant Account. The Client's ’s Dormant Account will then be reactivated (subject to, if required, up- to-up to date Know Your Client documentation provided to the Company by Client) and become an Active Account. However However, where the Client has not done the following with the Active Account: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; for a period of 90 60 days and more, then this account will once again become a Dormant Account. Where the Client's ’s account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no No opened transactionspositions; ,the account should be moved to a special group, without the ability to open new positions. For reactivation, the Client needs to request this in writing to "xx@xxxxxxxxxxxxxx.xxx". Islamic accounts We might offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. While a client may file a request for an Islamic (Swap-free) account at any time, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and all of such client’s Swap-free Accounts during the period for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with us.xxxxxxx@xxxxx.xxx
Appears in 1 contract
Samples: unfxb.com
Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 or more or if you make over 10 separate deposits to your Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction limits We may require you to limit the number of open transactions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. We may require you to limit the number of open transactions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective position. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilised for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. If you request a withdrawal of monies from your Account and we cannot comply with it without closing some part of your open transactions, we will not comply with the request until you have closed sufficient transactions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used marginmargin and please ensure that the amount you wish to withdraw is minimum EUR 100.00 or equivalent. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawal procedure In order for us to be able to process your withdrawal request, you need to: • login into your account, Trade module; make sure your Wallet amount is, at a minimum, equal with the amount you wish to withdraw; if not, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic email received from us. We will check again your identification documents (ID, proof of residence, compliance questionnaire), your account activity, your account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not placed a request; • opened or closed requests; and/or • made a deposit into the Clients account; for a period of 90 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”). Where the Client has and continues to: • place a request; • open or close requests; and/or • made a deposit into the Clients account; the account shall be classified by the Company as an Active Account (" Active Account"). The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" Dormant Account"). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's wish to reactivate the Dormant Account. The Client's Dormant Account will then be reactivated (subject to, if required, up- to-date Know Your Client documentation provided to the Company by Client) and become an Active Account. However where the Client has not done the following with the Active Account: • place a request; • open or close requests; and/or • made a deposit into the Clients account; for a period of 90 days and more, then this account will once again become a Dormant Account. Where the Client's account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no opened transactions; ,the account should be moved to a special group, without the ability to open new positions. For reactivation, the Client needs to request this in writing to "xx@xxxxxxxxxxxxxx.xxx". Islamic accounts We might offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. While a client may file a request for an Islamic (Swap-free) account at any time, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and all of such client’s Swap-free Accounts during the period for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with us.
Appears in 1 contract
Samples: Services Agreement
Disabling and Cancelling Deposits. We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances: • if you fail to provide the Company with any documents it requests from you either for client identification purposes or for any other reason; • if the Company suspects or has concerns that the submitted documents may be false or fake; • if the Company suspects you are involved in illegal or fraudulent activity; • if the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen; • where the Company considers that there is a chargeback risk; and/or • when you deposit $15,000 10,000 or more or if you make over 10 separate deposits to your trading Accounts and the Company is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a public supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received. Performance and settlement You will promptly deliver any instructions, money, or documents deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us. Transaction Position limits We may require you to limit the number of open transactions positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such transaction position limits are maintained. We may require you Negative Balance Protection Holding UNFXCO Negative Balance Protection ensures that traders do not lose more than the balance on their account – even if the market moves quickly or gaps. In the event of negative balance during high volatility or market gap on the opening of an asset, Holding UNFXCO resets the accounts with negative balance to limit the number of open transactions which you may have Zero with us at any time and we may in no additional costs passed to our sole discretion close out any one or more Transactions in order to ensure that such transaction limits are maintained. You will not be able to close any of your transaction(s) in a time period less than 59 seconds from the moment you open the respective positionclients. Withdrawals Without prejudice and subject to the terms of this Agreement, all Applicable Regulations and all conditions attaching to any relevant payments made to you under a bonus or rebate scheme operated by us, monies may be withdrawn by you from your Account provided that such monies are not being utilised for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. If you request a withdrawal of monies from your Account and we cannot comply with it without closing some part of your open transactionspositions, we will not comply with the request until you have closed sufficient transactions positions to allow you to make the withdrawal. In order to process your withdrawal request please ensure that the funds remaining on your account following your withdrawal is at least twice of your used margin. If you have not met the necessary bonus trading requirements at the time you make a withdrawal request the bonus will be debited from your trading account. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine. Withdrawals may be subject to withdrawal fee of 5% depending on banking institution and method used. Withdrawal procedure In order for us to be able to process your withdrawal request, you need to: • login into your account, Trade module; make sure your Wallet amount is, at a minimum, equal with the amount you wish to withdraw; if not, in order to transfer from your Balance to your Wallet, please click on the Balance link shown at the Positions tab, and chose “transfer from balance to wallet”; • login in the My Account/Compliance section of your account; • choose "Withdrawals" tab; fill in the desired amount for withdrawal and press submit; • download, fill and sign the Withdrawal form (available also in the Withdrawals module); • upload the Withdrawal form on the Documents section of our website. After we receive your signed withdrawal request form application, we will start processing your request. This procedure can take up to 5 (five) working days. During this time, but before we start processing your request, you can cancel your request from the Withdrawals module or from the automatic client area ir by sending us an email received from us. to xxxxxxxxxx@xxxxxxxxxxxxxx.xxxxx We will check again your identification documents (ID, proof of residence, compliance questionnaire), your trading account activity, your trading account Free Margin at the moment we process your request (excluding any award received) and any other documents that might be needed in regards with our AML/deposit policy provisions (bank statements, proof of funds, proof of the deposit you performed to us, proof of primary/secondary residential address, declarations of deposits, credit card copies, etc.). In case that any of the above are needed and are missing (were not sent to our Customer support email address, contact email address or uploaded by you in the Documents section) we will not process your withdrawal request and we will inform you accordingly about the reason of cancellation. In the case of cancellation of your withdrawal request, you need to provide us with the requested documents (these will be specified in the cancellation email you will receive from us) and to submit a new withdrawal request. Your old and cancelled withdrawal request cannot be opened again. Therefor, you need to submit a new withdrawal request. In case that all of the above are submitted to us and that your Free Margin allows for the withdrawal of funds requested, we will process your request in maximum 5 (five) working days and we will inform you accordingly. All your withdrawal requests eligible to be processed will be handled by us in maximum 5 (five) working days. Afterwards, it depends solely on your banking partner in how long time the funds will reach your card/bank account. Please note that the minimum withdrawal for Cent account is $25 or equivalent and for all the other accounts is $50 or equivalent. *some exceptions apply. Inactive and Dormant Account The Client acknowledges and confirms that any trading account(s), held the Company by a Client where the Client has: • not Not placed a requesttrade; • opened Opened or closed requestspositions; and/or • made Made a deposit into the Clients trading account; for a period of 90 60 days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”)) and inactivity fee of 15 EUR (or equivalent) is applied. If the client remains inactive after the first deduction, then every 15 days inactivity fee of 15 EUR is applied. Where the Client has and continues to: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; the account shall be classified by the Company as an Active Account (" ” Active Account"). ”) The Client further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (" ” Dormant Account"”). For re-activation of Dormant Accounts, the Client must contact the Company and inform that the Client's ’s wish to reactivate the Dormant Account. The Client's ’s Dormant Account will then be reactivated (subject to, if required, up- to-up to date Know Your Client documentation provided to the Company by Client) and become an Active Account. However However, where the Client has not done the following with the Active Account: • place Place a requesttrade; • open Open or close requestspositions; and/or • made Made a deposit into the Clients trading account; for a period of 90 60 days and more, then this account will once again become a Dormant Account. Where the Client's ’s account has: • Balance equal to zero (no own funds available in the account; AND • Equity equal to zero (no Bonus Award available in the account); AND • no No opened transactionspositions; ,the account should be moved to a special group, without the ability to open new positions. For reactivation, the Client needs to request this in writing to "xx@xxxxxxxxxxxxxx.xxx". Islamic accounts We might offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. While a client may file a request for an Islamic (Swap-free) account at any time, the filing of any such request entails that all of such client’s other real Accounts with us will be converted into Swap-free accounts also, without any further notice being required. Conversion of a real Account to a Swap-free account is performed by our Support Department only upon the request and consent of those clients who complete and submit a request for an Islamic (Swap- free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e-mail whether the request is accepted or not. Clients are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real Account(s) into one or more Swap-free Account(s) for the period during which their real Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any client, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real Accounts of such client that have been converted to a Swap-free Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and all of such client’s Swap-free Accounts during the period for which such Accounts were converted into Swap-free Accounts; and/or (c), with immediate effect, to close all Accounts of such client with us, nullify all transactions carried out in such client’s Accounts with us and cancel and all profits or losses garnered in such client’s Accounts with us.xxxxxxx@xxxxxxxxxxxxxx.xxxxx
Appears in 1 contract
Samples: unfxb.com
