Terms and Conditions of Payments
These terms and conditions (hereinafter “Terms”) apply to any transfers made by clients of AM Broker for the purpose of depositing monetary funds to or withdrawing monetary funds from (hereinafter “Payment”) the client’s trading account, which has been opened with AM Broker.
Upon submitting a request to AM Broker for making a Payment, each client confirms that they have read, understood and agree to be bound by these Terms. With regard to matters not determined by these Terms, the General Terms and Conditions of AM Broker shall apply.
AM Broker reserves the right to accept or deny any Payment requests of clients at its own discretion at any time. Please note that AM Broker shall not accept nor process Payments directed to or originating from accounts belonging to someone other (third person) than the client.
In case of withdrawal of funds, AM Broker reserves the right to execute such a request to the same bank, intermediary bank or any other payment solution or system (hereinafter “Payment Service Provider”) and to the same account used by the client for making the initial or any previous Payment, regardless of the withdrawal method chosen or preferred by the client.
AM Broker reserves the right to withhold the execution of Payments and request additional documents at any time, either to check the source of Payments or if otherwise deemed necessary by AM Broker.
The client is obligated to follow account’s minimum deposit requirements. In case the client has deposited less amount that it is required in order to fulfill minimum deposit requirements and start trading, AM Broker has the right to freeze deposited money for 5 days until the client deposits left amount.
3. Additional payment details
More specific details applicable to Payments (e.g. Payment limits, time schedules etc.) shall be displayed in the Trader’s Room upon submitting the Payment request, whereas each client shall be solely responsible for taking note of such details prior to making any Payment requests.
4. Erroneous or incorrect payment requests
The client is encouraged to beware of any inaccuracies on the Payment request. Moreover, in the event that the client has made an erroneous or incorrect Payment request, AM Broker shall not be obligated to reclaim the Payment from the Payment Service Provider nor reimburse the client for any fees, costs or other expenses occurred therein. The client shall be responsible for compensating AM Broker for any costs or damages incurred as a result of the erroneous or incorrect Payment request.
The Price List of AM Broker shall apply to Payments. In the event that currency conversions are required, AM Broker reserves the right to apply a conversion fee to the Payment, based on the exchange rate quoted by AM Broker within a reasonable time before the Payment is made.
In addition to the fees of AM Broker, the Payment Service Provider may apply its own service fees (e.g. conversion fees) to making Payments through their systems. It is the sole responsibility of the client to be aware and take into consideration such fees. AM Broker shall not be responsible for notifying the client thereof.
6. Local legislation
As laws and regulations regarding financial services and monetary operations may differ greatly from region to region, each client shall be solely responsible for complying with any local regulations, in particular with any applicable tax liabilities.
7. Malfunction of payment systems
Each client should note the inherent vulnerability to failure, delay and/or disruption of online payment systems, in particular as may be associated with the Payment Service Provider. The client is strongly recommended to keep their anti-virus software up-to-date and to continuously check their computer for viruses. Under no circumstances shall AM Broker be held responsible for any delays, malfunctions and/or outages of the payment systems and/or any other technical systems which belong to or are operated by the Payment Service Provider and/or for the results of such delays, malfunctions and/or outages.