Deposit and Withdrawal Policy

Marketfinancials Limited (the “Company”), is a Securities Dealer Licensee regulated and authorized by the Financial Services Authority Seychelles (“FSA”) under license number SD006.

The Company is operating under the Securities Act and the Securities Regulations of the FSA as amended from time to time.

DEPOSITS

The client accepts that any funds shall be deposited in his/her trading account only if the Company is satisfied that the sender of the Funds is the Client. 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 deducting 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.

The Client accepts that any amounts sent by him/her to an account in the Company’s name, under its bank or merchant accounts,will be deposited to his/hers trading account at the value date of the payment received and for the gross amount received in the bank or at the payment service provider (“PSP”).

The Client accepts that the Company or PSPs or the credit institution that we collaborate with may introduce limits on the total amount of money that can be accepted or transferred by or to us or to them at any given time or on an aggregated limit basis.Where the Company sets a deposit limit, based on market circumstances, you will be notified of the same in advance, either through email notification, through the trading platform or/and other communication means. By accepting out Terms and Conditions upon registration we accept no liability to you where you are unable to deposit any amount to your account due to the deposit limits and you waive any claims that you may have against us in any jurisdiction, to the extent permissible by law, as a result of you being unable to deposit any amount to your account with us.

In the event that any amount received in any bank account or PSP in the name of the Company are rejected by the bank or the PSP atany time and for any reason, the Company will immediately remove the affected deposit from your trading account. The Company reserves the right to reject/cancel any other type of transaction effected by the said deposit. It is understood that these actions may result in a negative balance in all or any of your trading account(s).

In case of funds deposited via credit/debit card the client will be prompted to upload his card photo showing name, expiry date and only the first and last 6 digits of card number.

Information on our accepted deposit methods can be found on our website.

WITHDRAWALS

The Company will proceed with withdrawals of Client funds upon the receipt of an application for withdrawal made via the Client’s portal. The Company will process the Client’s withdrawal request on the same day that the request was made, or the next working day if the Client’s request was received outside of normal trading hours.

 

All withdrawal requests are processed by our Back office Department within one (1) working day, however the time required for thefunds to be transferred will depend on the payment method used.

Bank Transfers are typically processed by us within one (1) working day, however, it takes about 3-5 working days for the fundsto be credited to your account.

Credit/Debit card withdrawals are processed by us within one (1) working day but up to ten (10) working days are required for thefunds to be credited to your account.

All other payment methods are usually processed by us in one (1) working day.

The Client accepts that withdrawal of any part of the funds shall be concluded using the same transfer method as the one which the Company originally received the funds from, net of any transfer fees or charges applicable.

For example, a Client has made a deposit using 3 different payment methods:

  1. Credit Card
  2. E-wallet
  3. Bank Wire Transfer

When Clients withdrawal request will be processed, the funds will be firstly refunded back to his credit card, then to his e-wallet account and all the rest will be transferred to his bank account in accordance with the amounts deposited by each method.

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.

The Company will not process withdrawals/refunds to any other third party or anonymous account. The Company will process withdrawals and refunds back to the source of the original deposit. The Company has the right, during the withdrawal process, to request any additional information related to the requested payment method and in the case not satisfied with the documents provided the Company can reject the withdrawal request and return the funds back to Client’s trading account.

The Client understands and accepts that under such circumstances there may be a delay in processing the request. Please note that the credit/debit card withdrawal requests cannot exceed the amount of your initial deposit. The Client have the right to withdraw the funds which are not used for margin covering, free from any obligations from your trading account without closing the said account, subject to any applicable restrictions regarding its operation, and any other right or limitation on such withdrawal.

All client withdrawal requests shall be processed in the currency in which the deposit was originally made.

The Company reserves the right to decline a withdrawal or deposit request if the request is not in accordance with the conditions mentioned in the Terms and Conditions or delay the processing of the request if not satisfied with the full documentation provided.

Information on our accepted payment methods can be found on our website.

 

Last updated: 23/3/20