← Depost and Withdrawal Policy
CONTENTS
- Definitions
- Deposits
- Withdrawals
1. Definitions
1. The Company – means Gilgamesh Financial Services or its trading name GFX Securities
2. Account – means a trading account opened with us for the purpose of opening or closing out a position.
3. Free Margin – means the portion of Equity, which is not held as Margin.
4. Client Portal – our system where clients register, upload documents for KYC, get approved and deposit/withdraw funds. Client portal is on sub-domain my.gfxsecurities.com.
5. Policies – means the policies and other terms and conditions that we adopt from time to time, as amended, which are available on our website.
6. Position – means an exposure to an underlying instrument in relation to a product that you have traded with us.
2. Deposits
1. Deposits can be made from inside our Client Portal. Not all deposits made will be reflected in your account immediately. Refer to the deposit methods available on the Deposit Page of our website for more details.
2. Deposit facilities are to be used for trading only.
3. Funds deposited into a trading account should be made from a source (e.g. credit/debit card, bank, alternative payments account, etc.) that is in the same name as the trading account.
4. Payments from joint bank accounts or credit cards are accepted if the trading account holder is one of the beneficiaries.
5. At our discretion, the Company may require confirmation of funding account ownership at any time (credit card, bank account, alternative payments account, etc.) before funds can be credited into a trading account. For example, a client may be required to produce a scan copy or card photo should he or she wishes to deposit using a credit or debit card. Failure to comply with this policy will result in rejection of the deposit. Please ensure to redact the credit card numbers to only show the
first 6 and the last 3 digits (for example, 1234 56 ████ 234).
6. If we choose to waive or cover any fees, we can only cover fees that we see. Other fees charged
by your bank, intermediary bank and/or our financial institution remain your responsibility.
7. The Company will not be liable for any losses (including auto or forced liquidation event) incurred
as results of delays in processing your deposit, including and not limited to payments made to cover
on-going margin requirement. Only cleared funds are deposited into a trading account. It remains
the client’s responsibility to ensure his/her trading account(s) have sufficient funds to cover margin
requirements.
3. Withdrawals
1. Withdrawals can be made from inside our Client Portal. Not all withdrawals made will be reflected in your account immediately. Refer to the withdrawal methods available on the Withdrawal Page of our website for more details.
2. To comply with Anti-Money Laundering/Counter-Terrorism Financing Rules and regulations, the Company will only process withdrawals to the same account (e.g. credit/debit card, bank, alternative payments account, etc.) that was used to deposit the funds. At its direction, the Company reserves the right to reject instruction to process return of funds to a different account without providing reasons. Additional information and documents may be required to be provided by the client.
3. Each withdrawal maximum limit is 10 000 USD per month. If this limit is requested in full by one or more withdrawals by the client, then the next available withdrawal request would be initiated for processing by the Company only after the client sends a proof that he received the previously requested withdrawal/s.
4. Withdrawals are generally processed depending on the withdrawal method chosen, which can take up to 7-9 business days. The company cannot be held liable for any deposit/ withdrawal processing delays that are caused by payment systems.
5. Withdrawal via bank wire requires 7 to 9 business days to complete. While we do not charge any fees, you may still need to pay other charges made by the banks and any intermediaries involved at your expense.
6. Trading profits or any account balance exceeding the initial deposit amounts preferably refunded
via Bank Wire (e.g. – if you have deposited 5000 USD by credit/debit card and you have profits of
4000 USD and you want to withdraw whole 9000 USD in your balance – 5000 USD will be refunded
to your credit/debit card and the rest 4000 USD will be sent via bank wire transfer).
7. Clients acknowledge they may be required to provide information and/or documents on the
source(s) of the funds and/or source of wealth in general when processing a withdrawal request or
at any time during their journey with the Company. The Company reserves the right to refuse to
process a withdrawal request where a Client does not provide all required information, and/or
where the Company has reasonable concerns that doing so may result in breaches of the anti-money
laundering and counter-terrorism financing laws and regulations.
8. Clients acknowledge that the Company does not guarantee a recall of a financial transaction under
any circumstances and that the Company is not liable for any losses suffered as a result of providing
incorrect instructions/details of the destination account.
9. The Company reserves the rights to refuse to process a withdrawal request if it has reasonable
grounds to believe that the trading account may result in deficit or cause the account to fall below
the margin requirements.
10. The Company reserves the rights to refuse to process a withdrawal request if it has reasonable
grounds to believe that the trading account may turn into a negative balance after the withdrawal
request is processed or if the trading account is subject to a charge back investigation.
11. The withdrawal of the entire capital amount deposited, along with any profits, will be completed within a period of 7-14 days. The company cannot be held responsible for any delays resulting from payment systems or liquidity providers’ systems.
12. 2% of the capital value will be deducted if the trading activity occurs on the account is less than 30 trade or less than 10% from the account balance for a full month.
