Any account(s), held with Orbex, without any trading activity and/or accounts that are inactive and/or remain non-operational and/or holding zero balance/equity for a period of six (6) months and more, are considered by Orbex to be Dormant accounts.
Dormant accounts will be subject to relevant charges/costs, relating to the maintenance/administration of such accounts. When an account is classified as dormant, Orbex has the right to charge an ‘inactivity fee’ of 20 USD, 20 EUR, 20 GBP, or 20 PLN (depending on the base currency of the account holder) per month. This fee will be charged and debited from the balance of the specific account until the account holder has the required funds available and/or until a zero balance/equity is reached. Such an ‘inactivity fee’ shall not in any case give a minus balance to the account.
Any Dormant account which continues to be dormant for a total period of twelve (12) months, is considered to be Closed on the first day after twelve (12) months of no transactions.
Both Dormant and Closed accounts will be frozen immediately, and the account holder will not be permitted to undertake any further transactions in the Dormant or Closed account.
In order for a Dormant or Closed account to be re-activated, the account holder must proceed with Orbex’s KYC/CDD procedures and by funding his account and conducting at least one (1) trade with the Company.