Deposit And Withdrawal Policy
Trading in any investment opportunity that may generate profit requires PrimoTrade 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 Profits may be withdrawn from the online account.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 PrimoTrade 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. Please allow up to 5 business days for the deposited funds via Bank/Wire Transfer to appear on your trading account. If you did not login and traded from your account within six (6) months (“Dormant Account”), your Dormant Account will be subject to a deduction of 10 % each month (the “Dormant Fee”).
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 Those fees will be deducted from the transferred withdrawn amount.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 PrimoTrade.
Without derogating of the foregoing, PrimoTrade 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.
Withdrawals will be charged a transaction fee of the following:
50.00 USD/GBP/EURO for wire transfers; 25.00 USD/GBP/EURO for credit cards plus a processing fee of 10.00 USD/7.00 EUR/5.00 GBP; 25.00 USD/GBP/EURO for ePayments. A levy of 10% of the withdrawal amount will be charged to any withdrawal from an account that has not executed more than 200 in turnover and/or from accounts that have not been verified.
Minimum withdrawal for wire transfers is 250.00 USD/GBP/EURO. Minimum withdrawal on any other method is 100.00 USD/GBP/EURO. Note that these charges exclude the transaction fee imposed; for instance, if a minimum of $250 is to be withdrawn by bank wire transfer, a transaction fee of $50 will be charged.
Fees may change depends on the processing system and/or bank of PrimoTrade.
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 otherwise explicitly agreed, Non-Deposited Funds are not available for withdrawal. Further, due to technical limitations, Non-Deposited Funds may be assigned to Client’s account in certain occasions (for example, for the technical purpose of allowing the closing of positions or an indebted account).
Without derogating from the abovementioned, bonuses issued to Client by PrimoTrade may only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued (“Minimum Trading Volume“).
Submitting A Withdrawal Request
In order to process your withdrawal request, you must:
• Open a withdrawal request from client area.
• Print the [withdrawal.pdf] form. Client will log in to his account through the website, click on withdrawal, fill up the information and fill up the withdrawal form.
• Sign the printed form.
• All compliance documentation must have been received and approved by PrimoTrade 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.
Typical Withdrawal Processing Time
The time it takes for the money to reach your credit card or 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 PrimoTrade within 4-7 business days of receipt. In order to avoid any delays please review your information carefully before submitting your request. PrimoTrade assumes no responsibility for errors or inaccuracies made by the account holder. Corresponding withdrawals will take 4 to 7 business days to process. PrimoTrade cannot monitor and is not responsible in any way for the Client’s Credit Card Company or bank’s internal procedures. Client must follow up with the credit card or respective bank independently.
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 card’s billing cycle.
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. PrimoTrade 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 USD (United States Dollar), your credit card will be debited properly in accordance with amount deposited and the applicable exchange rates. In addition to the exchanged sum deposited, additional credit cards fees may apply (as a result, in such cases you may notice discrepancies between the sum of deposit and the sum charged on your credit card). Customers must accept these slight variations that can occur and won’t try to charge this back. If you have used a credit card to deposit money, performed online trading and decide to cash in on your winnings, the same credit card must be used. Amount of withdrawal per credit card is only allowable to an equal amount of money deposited per credit card or less. Greater amounts must be wire-transferred to a bank account.
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 GB Pounds (“Base Currencies”) and any other currency will be converted at the exchange rate existing at the point of conversion
(“Exchange Rate”); if the Client send funds in another currency than his account’s currency, we will apply an exchange rate to our discretion.
We will generally settle trades or perform any required setoffs 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 available at https://www.ecb.europa.eu/home/html/index.en.html
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 PrimoTrade, at its sole discretion.
For queries concerning policy matters, please contact us anytime.
This website is owned and operated by Malarkey Consulting LTD, company registration number: 2020/IBC00078 and registered address 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica.
Risk Warning: Trading is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone so before deciding to trade Company’s Products you should carefully consider your financial condition and your level of experience. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
Risk disclosure: Trading involves significant risk. We strongly advise that you read our Terms & Conditions. Although the risk when trading is fixed for each individual trade, the trades are live and it is possible to lose your initial investment, particularly if a trader chooses to place his entire investment to a single live trade. It is highly recommended that traders choose a proper money management strategy which limits the total consecutive trades or total outstanding investment.
Disclaimer: PrimoTrade is an online trading platform provider. We are an industry leading brokers because we offer our investors the ability to trade underlying assets on an accurate and state of the art option trading platform. PrimoTrade advises its clients to read our terms and conditions carefully before opening positions on our platform. Digital option quotes displayed on the primotrade.co platform are rates that the company is prepared to offer options at, and as a result may not necessarily correspond to the exact live market quotations. Trading PrimoTrade contains risks, which may result in partial or full loss of an investment. There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. The Company is not responsible for communication failures or delays when trading via the Internet. Any opinions, news, research, analyses, or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company is not liable for any loss or damage, including and without limitation to, any loss of profit which may arise directly or indirectly from use of or reliance on such information.