Trading in any investment opportunity that may generate profit requires Power Trade customers to deposit money on their online account. Profits may be withdrawn from the online account.Deposits and withdrawals are regulated by this WD policy as well as the generally applicable terms and conditions.
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 Power Trade 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.
According to generally acceptable AML rules and regulations, withdrawals must be performed only through the same bank account or credit/debit card that you used to deposit the funds.
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 Those fees will be deducted from the transferred withdrawn amount.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 Power Trade Without derogating of the foregoing, Power Trade 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.
Funds appearing on Clients account may include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds (Non-Deposited Funds). Please note unless explicitly agreed, Non-Deposited Funds are not available for withdrawal. Additionally, Non-Deposited Funds may be assigned to Clients account in certain occasions (for example, for the technical purpose of allowing the closing of positions or an indebted account).
In order to process your withdrawal request, you must:
Open a withdrawal request from client area.
Print the [withdrawal.pdf] form.
Sign the printed form.
All compliance documentation must have been received and approved by Power Trade compliance officer in order to proceed with the withdrawal.
Beneficiary Name must match the name on the trading account. Requests to transfer funds to third party will not be processed.
Important: Account holder is required to monitor account regularly, and ensure that available margin exists in the account prior to submitting this request, as such withdrawal may have an impact on existing open positions or trading strategy used.
The time it takes for the money to reach your bank account that has been used to deposit funds may vary (usually up to five business days). Note that it might take longer for withdrawals to bank accounts due to the additional security procedures in force.
The request will generally be processed by Power Trade within 2-5 business days of receipt. In order to avoid any delays please review your information carefully before submitting your request. Power Trade assumes no responsibility for errors or inaccuracies made by the account holder. Corresponding withdrawals will take 3 to 5 business days to process. Power Trade cannot monitor and is not responsible in any way for the Clients banks internal procedures. Client must follow up with the respective bank independently.
Please note clearly that we are not committed to any time frame and that any additional charges imposed by third parties shall be deducted from the deposit or the withdrawal, as applicable.
Additional Charges: If the receiving bank uses an intermediary bank to send/receive funds, you may incur additional fees charged by the intermediary bank. These charges are usually placed for transmitting the wire for your bank. Power Trade is not involved with and nor has any control over these additional fees. Please check with your financial institution for more information.
For Credit card deposits, when you choose an account in a different currency than EUR USD (United States Dollar), your credit card will be debited properly in accordance with the amount deposited and the applicable exchange rates. In addition to the exchanged sum deposited, additional credit card fees may apply (as a result, in such cases you may notice discrepancies between the sum of the deposit and the sum charged on your credit card). Customers must accept these slight variations that can occur and won't try to change this back.
Funds are released to your credit account once your credit card merchant has debited the funds from our account. This process may take up to 5 business days or more to reflect on your credit card account balance. If you do not have online access to your credit card, it should appear on the next billing statement(s) depending on your cards billing cycle.
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 Rates); if the Client send funds in another currency than his accounts currency, we will apply an exchange rate to our discretion.
We will generally settle trades or perform any required set offs 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.
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 Power Trade, at its sole discretion.
Withdraws can be made only by wire transfers and not by any other means.
For queries concerning policy matters, please contact us anytime.
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