All deposits can be made via the Trader's room or Bank Account or E-Wallet provided by eFX Markets. Withdrawals can be made via the Trader's room only.
Deposits
1. 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.
2. At our discretion, eFX markets 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.
3. eFX markets strictly does not accept payments from third parties. If, for any reasons, eFX markets becomes aware of a payment made from a third party, eFX markets is entitled to reverse the payment, close any open positions, null any profits gained, or/and terminate the trading account. eFX markets will not be liable for any losses as results of breach of this policy.
4. Payments from joint bank accounts or credit cards are accepted if the trading account holder is one of the beneficiaries.
5. 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.
6. eFX markets 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.
7. In the event of a chargeback, the client is solely responsible to cover any reversed payments and/or charge-back fees. eFX Markets, at its own discretion, may offset any amounts deducted as results of a charge-back against any amounts available in the client’s account(s) or future deposits made into his/her trading account.
Withdrawals
1. To comply with the rules and regulations, eFX markets 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 unless express instruction is provided to send funds to a different account in the name of the trading account holder. At its direction, eFX markets 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.
2. For example, if a deposit is made via credit/debit card, then a subsequent withdrawal request is received, the amount of funds sent back to the relevant credit/debit card may not exceed the original amount deposited from same. Any profits made in excess of the deposited amount may be transferred to another account in the name of the trading account holder. At its direction, eFX markets reserves the right to reject instruction to process return of funds to a different account without providing reasons.
3. Due to regulations, eFX markets cannot deposit funds to third parties. All funds withdrawn from a trading account must go to an account in the same name as the trading account holder.
4. Due to Credit/debit card limitations, eFX markets can only refund up to the amount received from said Credit/debit card (i.e. excess fund cannot be applied to this withdrawal method). Refunds made to credit/debit cards may take between 3 – 5 business days from the date of processing to appear on the statement.
5. All withdrawal requests are processed Monday to Friday 10 am – 6 pm GMT+2. Requests received after 6 pm will be processed on the next business day. Please note that our bank cut off time is 4 pm and withdrawals processed after this time will not leave our bank account till the next business day.
6. International bank wire transfers attract a minimum fee of 20 units of your trading account base currency (i.e. 20 USD). eFX markets will deduct this fee from the withdrawal amount prior to depositing to the nominated bank account. Please refer to your bank regarding any fees they may charge you for the services they provide.
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. eFX markets reserves the right to refuse to process a withdrawal request where a Client does not provide all required information, and/or where eFX markets 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 eFX markets does not guarantee a recall of a financial transaction under any circumstances and that eFX markets is not liable for any losses suffered as a result of providing incorrect instructions/details of the destination account.
9. eFX markets 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. eFX markets reserves the right to refuse a withdrawal request if the trading account is subject to a charge-back investigation or eFX markets has not yet received any requested information / documentation regarding any trading account in the name of the client.
Additional Terms
NOTE: This policy cannot be exhaustive. Additional conditions or requirements may apply at any time due to regulations and policies, including those set in order to prevent money laundering and terrorism financing. Usage of this site and services is subject to the Client Agreement and other operative agreements which may be amended from time to time at eFX Markets’ sole discretion.