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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 Profits may be withdrawn from the online account.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

Deposits

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.

Withdrawals

You can deposit funds using a variety of funding methods including Bank transfer, credit/debit card. For full information on our funding methods, please visit our Deposit Funds Page or login to My account Unless we agree otherwise, withdrawals from the Account may only be made in the same currency in which the respective deposit was made. In addition, when you deposit or withdraw money for trading purposes using alternative payment methods, you should be aware that additional fees and restrictions may apply. Withdrawals are subjected to withdrawals processing and handling fees. Those fees will be deducted from the transferred withdrawn amount. The fees schedule is available on Monfex. Without derogating the foregoing, Monfex may execute withdrawals to a different facility than the one used for the deposit, subject to Anti Money-Laundering regulations. Furthermore, when it comes to withdrawals, Client may be required to present additional information and documents.

We reserve the right to implement any other security and anti-money laundering rules, provisions and regulations we deem necessary or desirable in order to prevent or limit money laundering, fraud or any other crime or action which we believe may expose us to liability or loss.

We may, in our sole discretion, refuse to process a Withdrawal request or place a payment hold on any part of all of your funds in your Account for any reason, including if we have a reasonable suspicion that you have breached this Agreement.

You agree that you shall pay all transaction costs, including currency exchange costs and wire fees. We reserve the right to invoice you for any transaction costs we encounter as a result of your use of the Services

You shall be solely responsible for the payment of all taxes, excise or other payments which you are supposed to pay according to the legislation of the country of your residency and which arise out of your use of the Service of the Company. Without limiting the foregoing, you agree that in case such a requirement arises out of the legislation of the country of your jurisdiction, the Company may withhold the tax from the sums which result from your activity with the Company. In this case, the Company reserves the right to withhold amounts for such taxes or to invoice you for any such applicable taxes if this is the case according to the legislation of the country of your jurisdiction. Upon creation of your Account or prior to processing of a Withdrawal, we may require you to complete certain tax documents.

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).

Credit/Debit Cards

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.

Currency

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.

Additional Conditions

Please note this policy cannot be exhaustive, and additional conditions or requirements may apply at any time due to regulations and policies, including those set in order to prevent money laundering. Please note any and all usage of the site and services is subject to the Terms and Conditions, as may be amended from time to time by Monfex, at its sole discretion. For queries concerning policy matters, please contact us anytime