12. Refund Policy
Trader.Online follows a strict withdrawal procedure which consists of the following:
- Prior to placing any withdrawal request, the Client must ensure that his trading account is fully compliant and meets the requirements set by Trader.Online’s Compliance Department. The Client must imperatively place at least 5 trades on the platform following his first deposit. If the Client decides to trade using Simplex, then the minimum Investment amount shall be 10 USD per trade. Failure to do so will void any withdrawal requests. Late document submissions will result in delaying the withdrawal process. The Client must make sure that his/her trading account has not been termed as Dormant (As defined in Section 15 of the Terms and Conditions) and is in line with any other section of Trader.Online’s Terms and Conditions not expressly mentioned in Section 12 prior to placing any withdrawal request. Failing to do so may void or delay the Client’s withdrawal request depending on Trader.Online’s sole discretion.
- When a withdrawal request is submitted, Trader.Online may take up to 3 business days to process the request;
- When the Client’s application is approved, he/she is required to wait for 5 to 7 additional days before seeing his funds in his account;
- The funds will not take more than 21 business days before appearing in the Client’s bank account;
- Trader.Online requires telephonic approval to finalize the withdrawal procedure. But as explained, no withdrawal will be processed in instances where compliance documents are missing and where a trading account has been termed as fraudulent;
- Trader.Online charges a tariff of 10% of the withdrawal amount requested if a total margin of greater than 200 is not satisfied;
- Trader.Online can process profits withdrawal via Bank Wire Transfer upon specific request by a client;
- Trader.Online reserves the right to choose the withdrawal method, without being committed to any method.
Deposits and withdrawals by Bitcoin
Bitcoin (BTC) sent to Trader.Online are always converted into the base currency of the client’s Trader.Online account. As such, any client depositing and withdrawing while using Bitcoin agrees to bear any potential loss which could arise due to the fluctuation in the value of Bitcoin.
To withdraw, the client is required to submit a withdrawal request on his Trader.Online account. Withdrawal can only be placed in the base currency of the client’s Trader.Online account. The requested withdrawal amount will be converted into BTC (at Trader.Online’s own BTC rate) and the client hereby acknowledges that due to fluctuations in the value of BTC, he may incur losses.
The client hereby understand and accept that the withdrawal process is not instant and that the BTC exchange rate is subject to fluctuations which is not in Trader.Online’s control and Trader.Online should not be made liable for any discrepancy which occurs during the withdrawal process and after.
Trader.Online cannot predict the number of Bitcoin the client will receive in his wallet following the withdrawal.
Trader.Online charges a fee and is applicable for the different withdrawal methods used:
- Wire Transfers50 USD/GBP/EURO
- Credit Card25
- USD/GBP/EURO (Note that a Processing Fee is also applicable for credit card withdrawals)
- Processing Fee for Credit Cards:
- USD10 or GBP5 or EUR7
- Epayments/ Any other payment methods 25 USD/GBP/EURO
Minimum Withdrawal Amounts
Basically, the Minimum Amounts that can be withdrawn are as follows:
- Credit Card 100
- Bank Wire Transfer 500 (note that a profit of at least 500 should be obtained in order to use this withdrawal method)
- EWallet/ Any other Payment Methods 100
Customers withdrawing a minimum of $500 by bank wire transfer, will have to pay an additional charge of $50 as per Trader.Online’s Terms and Conditions. There are no limits to the amount customers are allowed to withdraw from their trading account. Nevertheless, withdrawal requests should be aligned with Trader.Online’s Terms and Conditions, matching the required trading volume. However, in the case of withdrawal requests by Credit Card, the maximum withdrawal amount cannot exceed $20k. The Credit Card limits are as follows:
- 3 cards per account
- 10 transactions per card
- $50k maximum amount withdrawal per card per month
In the event that the Client’s trading account has been alleged with any kind of fraudulent activities or arbitrage, his/her account will have to undergo close investigation. During this specific period, the Client shall receive only 10% of his/her withdrawable capital on a monthly basis, excluding any trading benefits associated with the account as from when the investigation has started. Following the completion of the inquiry, the remaining withdrawable amount will be transferred to the Client’s account. If ever, the Client’s trading account has been termed as fraudulent, sanctions will be taken.
Please refer to the Fraud and the above section of the Terms and Conditions. Furthermore, Bonuses cannot be withdrawn unless the conditions specified in Trader.Online’s Bonus Policy are met.
The company reserves the right to choose the withdrawal method, without being committed to any method.