1. The Client acknowledges that bank wiring instructions are only provided to him by the Company along with the account details and confirmation letter.
2. The Company does not accept funds and/or payments for any trading account via a third-party and the company will not proceed in any funding of a trading account unless the depositor’s name matches the name of the trading account holder. Restrictions on third-party payments are set by banks and their respective authorities, which have developed extensive procedures, regulations, and laws to stop the transfer of illegal funds, commonly known as money laundering. This agreement provides the client with the assurance that funds from his account are never paid out to another party.
3. The client’s trading account must be established for trading purposes only. The company is not a bank, nor does it keep deposits as a bank. The company keeps deposits only to maintain margins supporting the trading account and trading activities.
4. The company specifies that in any case of funds being deposited and/or payments being processed by any person to the Company, without that person having a trading account and/or trading activities with the Company, the full amount of the said fund and/or payment will be returned from the Company to the person concerned using the same information and depositing channel used by the person for that specific deposit and refund fees may apply.
5. The Company actively complies with all anti-money laundering laws and regulations under all applicable domestic laws. On an ongoing basis, the company shall review clients’ account activity for evidence of suspicious transactions that may be indicative of money laundering activities. This review may include surveillance of:
- (a) Money flows into and out of accounts.
- (b) The origin and destination of wire transfers.
- (c) Other activity outside the normal course of business.
6. The Client may deposit funds into the Client Account at any time. Deposits will be accepted by bank transfer, debit/credit card, Skrill, or any other method of electronic money transfer/electronic wallets (where the originator is the Client) acceptable by the Company from time to time. The Client acknowledges that further information in relation to the deposit methods, deposit, and withdrawal processing time, and fees are available for the Client at the Company’s Website-Trading Accounts-Account Funding page, and he accepts that the said information is an integral part of this Agreement.
7. The Company will affect withdrawals of Client funds, either upon the receipt of a form bearing the signature of the Client which must match the specimen signature of the Client provided by him to the Company and if accordance to clause 24.7. of the Client Agreement or upon an application for withdrawal made via the My Orbex Area.
8. Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall pay the said amount within five Business Days once, if the following requirements are met:
- (a) The withdrawal instruction includes all necessary information;
- (b) The instruction is to make a bank transfer to the account of the client; and
- (c) At the moment of payment, the client’s free margin exceeds the amount specified in the withdrawal instruction including all payment charges.
9. Withdrawals will only be affected towards the Client. The Company has the right in its absolute discretion not to affect withdrawals to any other third party or account. The Company will not affect withdrawals to anonymous accounts.
10. The Client accepts that the full amount of his first deposit will be returned by the Company to the Client, upon a withdrawal request, to the same bank account and/or credit card and/or electronic wallet account the Client used for his first deposit.
11. The Client acknowledges that the Company will not proceed with a withdrawal request of the Client when such a request is sent by a different account name other than the one used by the Client for his last deposit.
12. The Client agrees that when making a deposit of a certain amount through a specific bank account and/or card and/or electronic wallet, will be obliged to withdraw the full amount of that specific deposit from that specific bank account and/or card and/or electronic wallet before using another withdrawal method.
13. 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.
14. The Client accepts the fact that delays may occur for deposits and withdrawals requests to be processed if the Company and/or any other bank and/or card processor and/or electronic wallets service provider is unable to verify the information provided by the Client.
15. All payment and transfer charges will be borne by the Client and the Company shall reflect the Client Account for these charges.
16. The Client agrees that the Company has the right to charge the Client any service fee, including deposit and withdrawal fees, charged by any bank and/or card processor and/or electronic wallets service provider, at any time and at the Company’s sole discretion and without the consent of the client.
17. If the Client has any obligation to pay any amount to the Company which exceeds the Equity in the Client Account the Client shall pay the excess amount immediately once the obligation arises.
18. If the Client makes a payment by bank transfer, by credit card, or any other method of electronic money transfer, the Company shall credit the Client Account with the relevant amount within one Business Day after the amount is cleared in the bank account of the Company.
19. Where a payment is due to the Company by the Client but enough cleared funds are not yet credited to the Client Account, the Company shall be entitled to treat the Client as having failed to make a payment to the Company and to close out the Client’s Open Positions, exercise other default remedies against the Client and exercise its rights under the Agreement.
20. The Client shall effect any margin payments or other sums due and payable to the Company in Euros, Great Britain Pounds, Swiss Francs, US dollars, or Japanese Yen. The payment amount will be converted into the Currency of the Client Account at the rate determined by the bank of the Company.
21. Any amount which is not paid in accordance with clause 24 of the Client Agreement on the due date thereof shall bear interest at the Applicable Rate plus 4% per annum, for each day for which such amount remains unpaid.
22. The Client acknowledges and accepts that when his bank and/or card and/or electronic account currency is different from the deposit currency assigned and/or the currency of his trading account, the currency conversion will be performed by the bank and/or card processor and/or electronic wallets service provider of the Client, at the prevailing exchange rate of the day and fees might apply.
23. The Client is fully responsible for the payment details given to the Company and the Company accepts no responsibility for the Client’s funds, if the details provided by the Client are wrong.
24. Client’s deposits and withdrawals by wire transfer are subject to 0.00% Company fees but other fees may apply by the Banks. Bank fees vary from one transaction to another as each transaction is considered a different case.
25. The Client agrees that withdrawals will only be credited by wire transfer to the client’s personal bank account that was submitted in the Customer Account Agreement or submitted through the new account registration form on the Orbex Corporate website.
26. The Client hereby confirms and acknowledges that any payment(s) made by Credit Card(s), will bear the Client’s name and will be credited into Client’s account(s) held with the Company and that the sole purpose for such payments is in accordance with the purpose of this Agreement signed with the Company.
27. The Client acknowledges and agrees that the funding of the accounts by credit card is done directly from the company website. The client understands and accepts that the name on the credit card must match the name of the client on the account with the company and that any deposits that do not match the above description will be rejected. All fees that apply will be charged to the sender.
28. The Client accepts the advice of the Company for him to allow the visual contact of the 6 first and the last 4 digits of his card number only; and cover the CVV numbers of the backside of the card before sending a copy of his Card to the Company, for security purposes. The Client accepts that the rest of the information should remain visible such as the cardholder Name, Expiry Date, and Bank Name.
29. The Client accepts that the Company has the right to reject any credit card payments coming from high-risk regions.
30. The Client acknowledges and accepts that all credit card transactions (deposits) are non-refundable and irrevocable.
31. The Client accepts that, for the protection of both the client and the Company, the Company may withhold orders that appear fraudulent for manual review and if necessary call the Client to confirm the order and if the Client cannot be reached within a reasonable period of time, the order may be canceled.
32. The Client agrees that in any case of the Company confirming a fraudulent deposit made by the Client through any deposit method, the Company has the right to refund the deposited amount and/or apply a zero balance and equity to the trading account of the said Client and/or close any trading account of the said Client and/or deny the withdrawal of any profits and/or the coverage of any loss and/or waive any liability related to any loss of the client and/or reserve any legal right to take any legal action against the said Client at any jurisdiction.
33. The Client confirms that the deposits by credit card are subject to 0.00% Company fees but other fees may apply by the Credit Card Companies.
34. The Client further confirms and acknowledges that the right of the Chargeback shall not be permitted in cases when the Company has already executed a requested transaction.
35. The Client hereby confirms and acknowledges that the right of the Chargeback shall not be permitted if the Credit Card(s) has been stolen taking into consideration the 3D secure policy, used by the Company, by which such payment(s) are not approved.
36. The Client confirms and acknowledges that due to the type of services and activities provided by the Company, the Client is not permitted to claim that the performance did not correspond to a written description so as to cancel the services. Should the Client request the Chargeback claiming that the performance did not correspond as per the Client’s instruction, the Client confirms and acknowledges that the Company has the right to provide any relevant entity/person, with the required documentation in regards to such Client’s account(s), in order to prove any transactions/allegation.
37. The Client confirms and acknowledges that the Company will not be held responsible regarding any delays that may occur in regards to Credit Car(s) transactions, caused by third parties, during the process of such transactions, or due to any other laws/impediments given or made in any jurisdiction at such given time of any such transactions.
38. In the event of a dispute related to Chargeback, the Client agrees that the Company has the right to withhold the Chargeback in a reserve until the dispute is finalized. The Client understands and agrees that it may happen, as a consequence of the reserved Chargeback, that such Chargeback may reflect on any of the transaction(s) of the Client’s account(s).
39. The Client shall be liable for all and any costs paid to the credit card processor or bank(s), other parties, attorney’s fees and other legal expenses, and the reasonable value of the time that the Company spent on the matter, incurred during the process of the dispute resolution.
40. To the extent permitted by law, the Company may set off against the Balances for any obligation and liability of the Client, including without limitation any Chargeback amounts.
41. The Client accepts that the Company has the right to apply any exceptions to the terms of this section (section 24) at its sole discretion and for whatever reason and/or when such exceptions are considered at the opinion of the Company necessary and/or appropriate for the execution of such terms and/or when such terms are impossible to be executed for any reason and/or person.
42. The Client agrees that the Company may, at its own discretion and at any time and/or when in its sole opinion an abuse of the 0.00% transfer fees benefit has occurred, request and/or deduct any and/or all the transfer fee amounts from the client’s account(s) and/or close the client’s account(s) and/or take any other action may consider necessary, as a compensation for the said abuse.