1. General provisions
1.1 These Regulations on non-trading operations (hereinafter referred to as the “Regulations”) have been developed within the framework of international cooperation measures aimed at combating financial misconduct, detecting and preventing violations of law, and establishes the procedure for performing non-trading operations on the Client account with AMarkets Ltd (the “Company”).
1.2 The Regulations are an integral part of any agreement concluded between the Company and the Client.
1.3 Non-trading operation – any operation performed by the Client, involving depositing of funds into the Client account, withdrawal of funds from the Client account or internal transfer of funds between the accounts in the Client’s Personal Area.
1.4 The Client is solely responsible for the accuracy of payments made by them. If the Company’s bank details change the Client will bear full responsibility for payments made to the obsolete details.
1.5 The Company shall not be held responsible for the timeliness and accuracy of client funds transferred by the Client to the details other than those published in the Personal Area on the Company’s website.
2. Trading account
2.1 To carry out currency exchange transactions in financial markets, the Client deposits their trading account.
2.2 To keep a record of funds deposited by the Client and ensure settlement of trades, as well as to keep track of trade history and financial results, the Company opens a trading account in the name of the Client in the Company’s accounting system.
2.3 The Client’s funds are virtually kept in the Company’s bank accounts, provided however that the Company neither accrues nor pays interest on the Client’s funds.
2.4 Request to open a trading account is made by the Client in the Personal Area on the Company’s website in the relevant section. At the time of opening a trading account, the Client is provided with unique access codes to the trading platform.
2.5 Individual access codes are used for the purposes of identifying the Client when carrying out transactions. The password can be changed at any time at the request of any Party. If the password change is initiated by the Company, the Client shall be sent a notification to the e-mail address specified by the Client as contact information.
2.6 Carrying out currency exchange transactions is possible from the moment the funds in the amount necessary for conducting transactions are credited to the trading account.
2.7 The Client’s financial results (profit and loss) on performed currency exchange transactions are reflected in the trading account at the moment of closing the position for each individual currency pair. Calculation of financial results is carried out in the manner prescribed by these Regulations.
2.8 The Company has the right to close a trading account in the event that the Client does not perform any transactions in the account for a period of 12 (twelve) consecutive months, and there are no funds in the account.
2.9 The Company does not charge inactivity fees.
2.10 The Company reserves the right to close the Client’s trading account and refuse service at any time. In doing so, the Company will endeavor to notify the Client of the account closure by all communication methods available.
2.11 In the event that balance in the Client’s trading account is less than $0.01, it shall be deducted from the trading account.
2.12 The Client can have up to 10 (ten) active trading accounts. When the limit of 10 accounts is reached, to open a new account, the Client will have to archive one of the existing accounts.
3. Terms and procedure for transferring funds to/from a trading account
3.1 Trading accounts are maintained in U.S. dollars and in euros.
3.1.1 If the trading account has been funded in another currency, other than the trading account base currency, it will be converted either at the Company’s internal rate at the time of transfer, or at the rate of the payment agent through which the payment is made, or at the rate of the payment institution where the Client holds an account and from which the money transfer is made. The Company’s current internal conversion rate is displayed in the Personal Area.
3.1.2 If the withdrawal of funds from a trading account is made in another currency, other than the trading account base currency, it will be converted either at the Company’s internal rate at the time of transfer, or at the rate of the payment agent through which the payment is made, or at the rate of the payment institution where the Client holds an account and from which the money transfer is made. The Company’s current internal conversion rate is displayed in the Personal Area.
3.2 Funds deposits to a trading account and funds withdrawals from a trading account are only performed via the deposit and withdrawal methods available in Personal Area. Commission fees, as well as other charges for each deposit and withdrawal method, are published in Personal Area and on the Company’s Website and may occasionally be changed by the Company.
3.3 The Company compensates the deposit commission so that the Client can keep performing trading transactions on their trading account, exclusive of the commission incurred by the Client as a result of using the credit funds or breaching the standard conditions of the payment system/method used by the Client to deposit funds. If there was no trading activity on the account or trading was carried out in insufficient volume (for example, when depositing USDT, the minimum trading volume to keep the compensated commission is calculated using the formula: deposits for 60 days * 0.5% / 32), the Company reserves the right to deduct the previously compensated deposit commission from the Client’s account.
3.4 Requests for non-trading operations such as deposit requests, withdrawal requests and internal funds transfer requests shall be submitted by the Client in the Personal Area and shall be considered as accepted by the Company if they are displayed in the “Transaction History” section of Personal Area and in the Company’s record keeping system.
3.5 Funds transferred by the Client to their trading account shall be credited no later than the next business day from the receipt date to the Company’s account if all data required to identify the payment are presented in the payment document.
3.6 The Client accepts that in the event of software failure of third-party banks and payment systems, transfer delays may occur.
3.7 The Company undertakes to ensure funds transfer to the Client’s trading account in the event of any software malfunction leading to the delay in the automatic funds’ transfer, provided the Client has informed the Company of such delay.
3.8 When depositing funds, the account details used to make a transfer must match the Client’s details indicated in the Personal Area on the Company’s website, including, but not limited to, such personal data as the first name, last name, email address, phone number. Third-party deposits are prohibited. If the account is replenished using third-party details, the deposit will be refunded, and the Client will be charged a commission fee for the refund.
3.9 The withdrawal of funds shall be made to the same details and via the same payment method, used to deposit a trading account.
3.9.1 If the trading account has been replenished using different payment methods, the withdrawal should be made proportionally.
3.9.2 If a deposit to the trading account has been made via a payment system that is not on the list of available payment systems, the withdrawal of funds can be made using any verified payment system, including but not limited to transfer to a bank account and a bank card.
3.9.3 The withdrawal of the funds via transfer to a bank account in U.S. dollars is available only for the Clients, who deposited their trading accounts via transfer from a bank account in U.S. dollars. The final amount of the bank transfer commission depends on the amount of the transfer and the country where the bank of the recipient is located, as well as on the tariffs of the corresponding banks.
3.9.4 The Client has the right to withdraw funds from their trading account to details, other than the details used to deposit the account, while simultaneously meeting the following conditions (each case is considered individually):
- The client has completed basic verification;
- Deposit details are verified;
- Withdrawal details are verified;
- The method of deposit and/or withdrawal from a trading account is other than a bank transfer, a bank card and/or cryptocurrency.
3.10 Requests for Client funds transfer are processed within the time limits, set for each payment system, however, in some cases transfer time may be increased up to five (5) business days.
3.11 Due to the nature of the cooperation with the partnering service provider FxCash, the funds transferred from FxCash to the Client’s wallet opened in the Company is moderated manually within one business day from the receipt of funds from FxCash provided that the wallet details of the transfer are correct. In case the Client decides to withdraw the transferred funds from the Company, the Company reserves the right to withhold from the Client the payment system commission of 0.5% from the Client.
3.12 The amount of a requested funds transfer should not exceed the available trading account balance after the deduction of payment system fees held by the Company for making a money transfer. The calculation of free equity is done automatically in real time, taking into account current loss for open positions and the amount necessary to hold open positions. In case of withdrawal via bank transfer the commission is withheld from the transferred amount.
3.13 If the funds haven’t been transferred to/from the trading account, the Client has the right to send a request to the Company using the feedback form on the Company’s website to identify the reasons. The Company shall be obliged to handle the request within one working day from the date of receipt.
3.14 The Company reserves the right to refuse or cancel remuneration or bonus payments to the Client, as well as to exclude the Client from participation in promotions in case of suspicion of fraud or abuse of the Company’s advertising campaigns conditions. Promotions terms and conditions may be amended, the information on the changes will be immediately published on the Company’s website.
3.15 In order to ensure security, the Company reserves the right to ask the Client to provide the proof of identity, as well as the document confirming account ownership in the payment system.
3.16 Only verified clients can use electronic payment systems to withdraw partner remuneration.
3.17 Payment processing is provided by: Paysafe Holdings UK Limited, WM Transfer Ltd, Direct Payment Limited, Cauri Ltd, Getcoin Grupp OU (Registry code 14557309, Harju maakond, Tallinn, Kesklinna Linnaosa, Tuukri tn 19-315, 10152), Perfect Money Ltd, ООО NKO Yandex.Dengi, OOO NKO MONETA.
Date of Last Revision 19/01/2023