When you open an account with the Company the payment will be debited from your credit card immediately. However, at any point in time, for any reason, clients the right to apply for a refund of all eligible funds. Please note that if you have received a bonus, you will have to follow the bonus T&C. If you decide to apply for a withdrawal, all logins and memberships will be deactivated. All refunds will be issued in the form of payment in which they were made.
This Withdrawal Policy constitutes a legal requirement as detailed below:
DEPOSITS OF FUNDS POLICY
The customer may deposit funds into the customer account at any time during the course of this Agreement. Deposits will be accepted by bank transfer, Swift, E-wallet, debit / credit card or any other method of electronic money transfer (where the originator is the customer) acceptable by the Company. The Company shall credit the customer account within two business day after the amount is cleared in the bank account of the Company with the relevant amount. The relevant amount will be net of any transfer fees or other charges incurred by the Company that are imposed by the institution (or intermediary involved in the process) that holds the funds.
The Company will not accept third party or anonymous payments of funds in the customer account (without derogating from the paragraph below).
The customer accepts that the funds shall be deposited in his/her trading account only if the Company is satisfied that the sender of the funds is the customer or his/her authorized representative (unless legally consented inter alia, Trustee, POA or guardian). If the Company is not satisfied as to the above then the Company has the right to reject the funds and return them to the remitter net of any transfer fees or other charges incurred by the Company, using the same transfer method as the one through which it originally received the funds.
Unless said otherwise, the interest derived from the bank account of customers’ funds shall not be paid to the customers and it can be used by the Company for its own account. The customers are informed accordingly as evidenced by their signature or other equivalent alternative mechanism.
WITHDRAWALS OF FUNDS POLICY
As soon as a withdrawal instruction / payment order instruction is received from the customer through the trading account, please allow the Back Office department 48 hours to proceed with the processing.
The Company will ensure that the withdrawal request by the customer includes all necessary information and the following checks will be performed:
- a) Confirm that the account number, name and banking details of the customer matches the details provided in the account opening application process.
- b) The customer is eligible to withdrawal according to company policy
- c) Withdraw the funds from the customer’s account.
- d) Prepare the transfer request for the bank and forward to the accounting department.
- e) Send the payment instruction to the relevant bank for payment.
Our Back Office team will contact you to ask for additional information if needed.
Upon the receiving of an instruction from the customer to withdraw funds from the account, the customer’s funds will be processed within 5-7 business days, if the following requirements are met (notwithstanding the provisions of this article the actual receipt of funds depends on the customer’s payment method):
- a) the instruction is to make a bank transfer of funds to the account of the customer;
- b) at the moment of payment, the customer’s free margin exceeds the amount specified in the withdrawal instruction including all payment charges;
In case the customer requests his funds to be withdrawn from his account and to be transferred to a bank account that has not been notified to the Company in the past, the Company will perform Know Your Customer procedures on the same customer in order to ensure that the beneficiary of both bank accounts is the same person, and then the Company can proceed with the transfer of funds.
The customer accepts that a withdrawal of any part of the funds shall be concluded using the same transfer method and the same remitter as the one which the Company originally received the funds from. Under such circumstances, the Company shall return the part of the funds requested less any transfer fees or other charges incurred by the Company.
The Company reserves the right to decline a withdrawal request of the customer asking for a specific transfer method and the Company has the right to suggest an alternative.
Withdrawals will only be effected towards the customer. The Company will not affect withdrawals to any other third party or anonymous account.
The Company reserves the right to request additional information and/ or documentation to satisfy itself that the withdrawal request is legitimate. In addition, the Company reserves the right to reject such a request if it deems that this may not be legitimate. The customer accepts that under such circumstances there may be a delay in processing the request.
All payment and transfer charges will be borne by the customer and the Company shall debit the customer account for these charges.
The Company shall be responsible for responding to any customer requests regarding information on the status of their order within a reasonable period of time. The customer using the internet shall be able to get information on the status of their order within a reasonable period of time through specialized software. Information to customers regarding the status of their order must be provided to the customers in no longer than one business day. When such telephone calls are received they must be recorded on the software of the Company including date and time the call was made.
Customer’s requests will be received electronically. In cases that the customer has no access in the electronic means customers’ requests will be accepted by E-mail, provided that the signature of the customer is verified and the transfer/withdrawal form is properly completed.
Customer’s requests will be forwarded immediately to the Back Office Department for approval in terms of availability of funds after they have discussed the request with the customer and have confirmed it. Once the Back Office Department approves the request, they shall then forward it to the Finance and Accounting Department for processing.
For all transactions described above the relevant employee shall record the transactions in the Company’s cash account ledger and shall file the documentation for each transaction recorded, after a reference is made into the ledger.
COMPLAINTS OR GRIEVANCES POLICY
The Company shall establish, implement and maintain effective and transparent procedures for the reasonable and prompt handling of complaints or grievances received from retail or potential retail clients, and to keep a record of each complaint or grievance and the measures taken for the complaint’s resolution.
Customers’ complaints or grievances are initially handled by the Costumer Support Department. However, the final settlement of non-trivial complaints or grievances needs to be approved by Compliance Officer and, if necessary, by Senior Management.
The procedure which shall be followed by the Company, when handling customers’ complaints or grievances, is the following:
- A complaint or grievance is initially handled by a member of the Costumer Support Department. The employee receiving the complaint or grievance shall take the necessary actions so that the complaint or grievance is properly addressed.
- The complaint or grievance should be forwarded to the head of the department to which the complaint is addressed.
- The member of the Costumer Support Department shall inform the customer that the complaint or grievance has been forwarded to the relevant department/personnel, providing all details so that the customer is aware who is dealing with the complaint or grievance.
- The member of staff, in addition to the above, should make all best efforts to ensure that in the case of the complaint or grievance being of such nature that can be resolved immediately, to do so that the customer will not have to pursue the filling of a formal complaint.
The events leading to the complaint or grievance should be examined and assessed based on the information provided by the customer.