Deposit/Withdrawal Policy
We’re dedicated to supplying you the best trading conditions and execution times available.
DEPOSIT & WITHDRAWAL POLICY
Kanak Capital Markets (hereafter referred to as the “Company”) is a company incorporated and registered under the Laws of St. Vincent and the Grenadines under company number 1810 LLC 2022. The Company is operating as per the Rules & Regulations as amended from time to time.
DEPOSITS
The client agrees that any funds deposited in his or her trading account will be deposited only if the Company is satisfied that the sender of the funds is the Client. If the Company is not satisfied with the above, it has the right to reject the Funds and return them to the remitter after deducting any transfer fees or other charges incurred by the Company, using the same transfer method through which the Funds were originally received.
The Client agrees that any funds sent by him/her to an account in the name of the Company, under its bank or merchant accounts, will be deposited to his/her trading account on the value date of the payment received and for the gross amount received in the bank or at the payment service provider (“PSP”).
The Client agrees that the Company, PSPs, or credit institutions with whom we work may impose limits on the total amount of money that can be accepted or transferred by or to us or
them at any given time or on an aggregated limit basis. If the Company establishes a deposit limit based on market conditions, you will be notified in advance, either via email, the trading platform, or other communication means. By accepting our Terms and Conditions upon registration, you agree that we will have no liability to you if you are unable to deposit any funds into your account due to deposit limits, and you agree to waive any claims you may have against us in any jurisdiction, to the extent permitted by law, as a result of your inability to deposit funds into your account with us.
If any amount received in the Company’s bank account or PSP is rejected by the bank or PSP at any time and for any reason, the Company will immediately remove the affected deposit from your trading account. The Company reserves the right to reject or cancel any other type of transaction facilitated by the deposit. These actions are understood to have the potential to result in a negative balance in all or some of your trading accounts (s).
If funds are deposited by credit/debit card, the client will be prompted to upload a card photo that includes his name, expiry date, and only the first and last six digits of his card number.
Our website contains information on the deposit methods we accept.
WITHDRAWALS
Following receipt of a withdrawal application via the Client’s portal, the Company will proceed with withdrawals of Client funds. The Company will process the Client’s withdrawal request the same day it is received, or the next working day if it is received outside of normal trading hours.
Our Back-office Department processes all withdrawal requests within one (1) working day; however, the time required for funds to be transferred depends on the payment method used.
Bank transfers are typically processed within one (1) working day; however, the funds are credited to your account within 3-5 working days.
We process credit/debit card withdrawals within one (1) working day, but it may take up to ten (10) working days for the funds to be credited to your account.
We usually process all other payment methods within one (1) working day.
The Client agrees that any withdrawal of funds will be completed using the same transfer method as the one from which the funds were originally received by the Company, less any applicable transfer fees or charges.
For example, a Client has made a deposit using 2 different payment methods:
a) Credit Card
b) Bank Wire Transfer
When a client’s withdrawal request is processed, the funds are first refunded to his credit card, and finally to his bank account in accordance with the amounts deposited by each method.
The Company reserves the right to decline a withdrawal request from a Client requesting a specific transfer method and to suggest an alternative.
Any other anonymous accounts or third parties will not have their withdrawals or refunds processed by the company. The Company shall handle withdrawals and returns to the original deposit source. If the Company is not satisfied with the documents given, it has the right to refuse the withdrawal request and restore the money to the Client’s trading account. The Company has the right to seek any extra information connected to the desired payment method throughout the withdrawal process.
The client is aware of this possibility and agrees that it may cause a delay in handling the request. Please be aware that the total of your original deposit cannot be exceeded by withdrawal requests from credit or debit cards. The client has the right to withdraw money
from their trading account that are not used for margin covering, free of any obligations, without closing the account in question, subject to any applicable operating restrictions and any other rights or limitations on such withdrawal.
Requests for client withdrawals must be processed in the same currency that the deposit was made in.
If a withdrawal or deposit request does not meet the requirements outlined in the Terms and Conditions, the Company maintains the right to reject it or to delay processing if the company is dissatisfied with the completeness of the supporting paperwork.
On our website, you can find information about the payment options we offer.
