Siddhi Financial Services is an Investment Firm that owns and operates the brand "". The Company is operating under the Securities Act 2007 (the "Act"), Securities (Conduct of Business) Regulations 2008, Securities (Forms and Fees) Regulations 2008, Securities (Prospectus) Regulations 2008, Securities (Takeovers) Regulations 2008, and the Securities (Advertisements) Regulations 2008 (collectively the "Act and Applicable Regulations").
This Deposit and Withdrawal Policy with the Service Agreement as well as the Terms and Conditions of Business explains the Company's regulations and procedures that govern the Client's Deposits and Withdrawals. The Client acknowledges that he/she read, understood and accepted the Deposit and Withdrawal Policy of the Company which forms an integral part of the Terms and Conditions of Business/Client Agreement.
The Client may deposit funds into the Client trading account at any time during the course of this agreement, once the Client's trading account is verified in accordance with the Company's Customer Acceptance Policy. Deposits will be accepted by bank transfer, Swift, E-wallet, debit/credit card or any other method of electronic money transfer (where the originator is the Client) acceptable by the Company from time to time. The Company at its discretion may charge a 3% plus 0.25 cents fee per deposit which includes payment service provider and handling fees which will be paid by the Client additionally to the deposited amount. For bank deposits the Company will consider as a deposit the net amount received in its bank accounts, subject to any applicable banking fees/charges/costs. The Company does not accept cash deposits.
The Company will not accept third party or anonymous payments of funds in the Client account. 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 or his/her authorized representative (unless legally consented inter alia, Trustee, POA or guardian). 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 net of 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.
The Company reserves the right to request the Client, at any time, to provide additional information and/or documentation to confirm the origin and/or the source of the funds including copies of Credit/Debit Cards, Copies of SWIFT Wires, SEPA and in cases of anonymous cards a proof of the ownership from the relevant Bank/Issuer. The Company shall have the right to reject a deposit if it is not duly satisfied as to the legality of the source of funds.
The Company reserves the right to set minimum or maximum amount of deposits. Relevant information can be found in the Company's Terms and Conditions of Business and/or the Service Agreement and/or on the Company's official website.
Unless said otherwise, the interest derived from the bank account of Clients' funds shall not be paid to the Clients and it can be used by the Company for its own account. The Clients are informed accordingly as evidenced by their acceptance of the Company's Terms and Conditions of Business/Client Agreement.
To enhance the security and protection of our Client's funds a withdrawal instruction must be submitted from the Client through his/her trading account through the Company's online trading system or by submitting the withdrawal request via email to the Customer Support Department of the company at "". The Client is charged with any fees/costs/charges related to withdrawals either via bank or payment service provider and is entitled to pay for any conversion charges, if applicable.
The Company will ensure that any withdrawal request by its Clients includes all the necessary information/documents and the clients have the obligation to provide the Company with any documents as may be requested so as to facilitate the processing of the requested withdrawal. Such documents include among others:
Before proceeding with a withdrawal, the following checks shall be applied:
In case the client has open positions, the below parameters should be fulfilled:
Upon the Company receiving an instruction from the Client to withdraw funds from the Client's Account, the Client's withdrawal request will be processed within three Working Days and provided the following requirements are met (notwithstanding the provisions of this article the actual receipt of funds depends on the Client's payment method):
For the funds to be credited to the Client's account it may take an additional five (5) to seven (7) working days, depending on the Client's selected credit institution and/or chosen withdrawal method; the Company has no influence on the length of time required for the funds to reach the Client's account and as such, bears no responsibility in case any processing delays occurs from the credit institution or the processing company or the payment service provider.
In case the Client requests his/her funds to be withdrawn from his/her account and to be transferred to a bank account that has not been notified to the Company in the past, then the Company shall perform again Know Your Client procedures - on the same Client - in order to ensure that the beneficial owner of both bank accounts is the same person and then the Company can proceed with the transfer of funds.
The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative transfer method.
The Company reserves the right to decline/cancel a withdrawal request of the Client during the process of its examination in cases that a client, having submitted such a request, continues trading and the Free Margin level in the trading account of the client falls below 100% resulting the failure to meet the margin requirements as such are specified in this Terms and Conditions of the Company, for the purpose of covering margin requirements and keeping the position(s) opened.
Withdrawals will only be effected only towards the Client. The Company will not to effect withdrawals to any other third party or anonymous account.
The Company reserves the right to request additional information and/or documentation to satisfy itself that the request is legitimate. In addition, the Company reserves the right to reject such a request if it deems that this may not be legitimate. The Client acknowledges and accepts that under such circumstances there may be a delay in processing the request and the client undertakes to provide any additional information as may be requested by the Company in order to facilitate the requested withdrawal. The Company shall not be held responsible for any undue delays caused with regards to the withdrawal emanating from the client's side.
All payment and transfer charges/expenses will be borne by the Client and the Company shall debit the Client account for these charges. Any charges imposed by the bank or payment service providers shall be paid by the client. Any charges/fees/costs imposed by payment service providers/bank will be deducted and the Company shall return back to the client's account the remaining balance.
The Company shall be responsible for responding to any Client requests, regarding information on the status of their order, received by telephone at any time, within a reasonable period of time. The Client using the Internet shall be able to get information on the status of their order within a reasonable period of time through the Company's Trading System.
Information to Clients regarding the status of their order must be provided to the Client in no longer than two business days. When such telephone calls are received, they must be recorded on the software of the Company including date and time the call by the Client was made.
Clients' requests will be received electronically. In cases that the Client has not access in the electronic platform of the Company a Clients' requests may be accepted at the discretion of the Company by e-mail, provided that the signature of the Client is verified and the transfer/withdrawal form is properly completed and all the required checks and controls of the Company have been fulfilled.
Clients' requests will be forwarded immediately to the Back-Office Department for approval in terms of funds availability after they have discussed the request with the Client and have confirmed it. Once the Back-Office Department approves the request, they shall then forward it to the Finance and Accounting Department for approval and processing.
For all transactions described above the Company shall record the transactions in the Company's cash account ledger and shall file the documentation for each transaction recorded after a reference is made into the ledger and the Client's file.