Deposit and Withdrawal Policy


Introduction

FBS-Prime is trading under X-Company Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC), ACN no. 149500569 and is located at Level 8, 9 Porter Street, Hawthorn East, Victoria, 3000, Australia.


Deposits


  1. Deposits will be accepted by bank wire transfers, credit cards or by using alternative payment systems (“APMs”) as these are indicated on the Company’s website as updated from time to time.

  2. The Company will not accept third party or anonymous payments of funds in the Client Account.

  3. The Client accepts that the Funds shall be deposited in his/her trading account only if the Company is satisfied that the sender of the funds is the Client. If the Company is not satisfied as to the above, then the Company has the right to reject the funds and return them to the remitter deducting any transfer fees or other charges incurred by the Company, using the same transfer method as the one through which it originally received the funds.

Withdrawals


The Company will proceed with the Clients’ withdrawals upon receipt of their requests the Client submitted on the Client area. The Company will process the Client’s request to withdraw funds on the same day that the request to withdraw funds was made, or the next working day if the Client’s request is received outside of normal trading hours.


All withdrawal requests are processed by the BackOffice Department within one (1) working day, however the time required for the funds to be transferred will depend on the payment method used.


Bank Transfers are typically processed by us within one (1) working day, however, it takes about three (3)- five (5) working days for the funds to be credited to your account.


Credit/Debit card withdrawals are also normally processed by us within one (1) working day but ten (10) working days are required for the funds to be credited to your account.

All other payment methods are usually processed by us in one (1) working day.


Any payments you request will not be made until all documents are received and the account is fully verified.


The Company does not charge any additional fees for withdrawals. However, the client shall be aware that he may incur fees on payments to and from some international banking institutions. The Company does not charge any fees for the process of a withdrawal however the company is not liable for any fees charged from any intermediary bank or the beneficiary

bank. The Company is not liable for any fees charged from the beneficiary bank for a Single Euro Payments Area (SEPA) Transfer.


The Company has no minimum amount requirement; however, the client needs to be aware of potential intermediary/beneficiary bank fees. Any bank wire withdrawal requests with amount less than EUR100, there is a risk that the Client will not receive anything as a result of bank charge.


The Client accepts that withdrawal of any part of the funds are only refunded to the source of funding that they had originally deposited from.


For example, a Client has made a deposit using 3 different payment methods:


  1. Credit Card

  2. E-wallet

  3. Bank Wire Transfer

In the case that the Client will request a withdrawal, then firstly the money will be refunded back to his credit card, secondly money will be sent back to his e-wallet account and all the rest will be transferred to his bank account in accordance with the amounts deposited by each method.


The Company reserves the right to decline a withdrawal funds from the Client’s account, if

the following requirements are not met:


  1. The withdrawal instruction includes all necessary information (including but not limited to: Account No. Name, Amount, Currency);

  2. At the moment of payment, the Client’s Free Margin exceeds the amount specified

in the withdrawal instruction including all payment charges.

The Company will not proceed withdrawals/refunds to any other third party or anonymous account. The Company will process withdrawals and refunds back to the source of the original deposit.


The Company has the right, during the withdrawal process, to request any additional information related to the requested payment method. The Client understands and accepts that under such circumstances there may be a delay in processing the request.

All Client withdrawals requests shall be processed in the currency in which the deposit was originally made.