Deposit & Withdrawal Policy
Trading in any investment opportunity that may generate profit requires Monfex clients to deposit money on their online account. Profits may be withdrawn from the online account. Deposits and withdrawals are regulated by this WD policy
You, the Client, have to perform all the deposits from a source (e.g. single bank account). If you want to start trading, you should make sure this account is in your country of residence and in your name. In order to certify that a SWIFT confirmation is authentic, it has to be sent to Monfex to confirm the origin of the money which will be used for trading. If you don’t comply with this WD policy, you may be prevented from depositing the money via Bank/Wire Transfer. As a client, one can create any number of accounts and can make deposits of various amounts in any of the real accounts.
Non-Deposited Funds (Promotional credits)
The Company has the right to offer various promotions and bonuses to the new clients as well as the existing clients.The possibility to take part in promotions and to obtain a bonus is a privilege for the Client, and the Company may deny their provision to the Client at any time at its sole discretion. The conditions for promotions and bonuses are specified in the given section as well as on the Company’s website. The given bonus presupposes the following volume of trade by the client. Each 1000$ of bonus money the volume of trade must reach: 10,000,000$ volume of trade for each bonus 1,000$ for the total bonus of up to 10000$; 20,000,000$ volume of trade for each bonus 1,000$ for the total bonus of 10000$ to 30000$; 30,000,000$ volume of trade for each bonus 1,000$ for the total bonus of more than 30000$. The volume of trade does not include the transactions which are opened in the mixed way, scalping transactions, and transactions which last less than three minutes. In case there is no trading activity on the account during any period longer than three months from the moment the bonus is deposited and till the moment the volume of trade must be reached, the company has the right to debit the bonus money as well as the whole income on the account of the client for the given period without any notice or agreement with the client. In case there are any suspicions of the fraud with the purpose to reach the necessary volume of trade or use of the bonus, the trading account of the client can be adjusted. The withdrawal of the bonus and the income from trading activities is not allowed until the volume of trade is reached. When the volume of trade is reached, the whole balance of the account together with the bonuses, deposits and income can be withdrawn without any limitations. There are no time limits for reaching the volume of trade for the bonus. In case the Client withdraws the money from the account before he/she fulfills the conditions on the volume of trade for the bonus, all the opened positions on the Client’s account are closed and the money left on the account of the client is cleared in accordance with the following formula: Account balance = current account balance – the amount of the bonus/es provided – total income obtained by the client since the time the bonus was activated for all closed positioned which were opened after the bonus had been activated (positive total income only).
For Credit card deposits, when you choose an account in a different currency than EUR/USD, your credit card will be debited properly in accordance with amount deposited and the applicable exchange rates. In addition to the exchanged sum deposited, additional credit cards fees may apply (as a result, in such cases you may notice discrepancies between the sum of deposit and the sum charged on your credit card). Customers must accept these slight variations that can occur and won’t try to charge this back.
Your Account may comprise of different currencies. These will be subject to the following conditions: We may accept payments into the account in different currencies and any payments due to or from us and any net balances on the account shall be reported by us in the respective currency; The account is maintained in US Dollars, Euro or JPY (“Base Currencies”) and any other currency will be converted at the exchange rate existing at the point of conversion (“Exchange Rate”); if the Client send funds in another currency than his account’s currency, we will apply an exchange rate to our discretion. We will generally settle trades or perform any required setoffs and deductions in the relevant currency where the account comprises such currency ledger, save that where such currency balance is insufficient, we may settle trades in any currency using the Exchange Rate.