(Company license number: 40534).
1.1 GTC Ltd (hereinafter referred to as the “Company”), is incorporated under the laws of GTC Global Trade Capital Ltd., is registered under Vanuatu Financial Services Commission under registration number 40354.
1.2 The withdrawal conditions are provided by the Company to its Clients under the Execution Order Policy as amended from time to time. The Clients must read carefully and understand the conditions set out herein before proceeding with their withdrawal request.
2.1 The Client acknowledges that he has read, understood and accepted the Withdrawal conditions as amended and reviewed on a regular and ongoing basis, in addition to any other information and/or policy and/or agreements available on the Company’s website: www.gtcup.com
- Withdrawal Procedure
3.1 All withdrawal requests are processed from Sunday to Thursday between 9am to 6pm (GMT +8). All requests received outside of these hours will be processed on the next business day.
3.2 The Company does not carry out funds withdrawals to bank or credit / debit cards held by a third party.
3.3 Clients’ needs to ensure that there is sufficient free margin in their account to cover the withdrawal. If not, Client may choose to close some open positions in their account before requesting a withdrawal.
3.4 The Company cannot send more funds back to the Client’s credit card than initially deposited; if additional amounts need to be withdrawn funds will be sent using an alternative payment gateway (i.e. wire transfer or any e-wallet).
3.5 Funds cannot be refunded to expired credit / debit cards. If a situation arises whereby the card processor is unable to process the withdrawal request, the Company’s back office team may contact the Client to discuss the alternative available methods.
The Company may process the withdrawal request via wire transfer for some PSP deposits maintained after fourteen days from the date of deposit transaction.
3.6 If there is profit made on the Client’s account or restrictions which prevent the Company from returning funds to the depositing card, the Company may return funds to its registered bank account. The Company will only be able to do this if a bank document is provided containing the relevant information.
3.7 Crypto currencies withdrawals including for instance but not limited to Bitcoin, Ethereum, Ripple etc. will be returned to the same Crypto currency address.
3.7.1 The amount which can be withdrawn to a specific Crypto -currency address should not exceed the total amount deposited from the same Crypto currency address.
3.7.2 The Company reserves the right to charge certain fees for every crypto withdrawal transaction that will be deducted from the withdrawal amount.
3.8 Withdrawals are processed by the Company within 24 hours of request. The funds will be posted to the Client’s:
3.8.1 debit/credit card within one business week;
3.8.2 bank wire transfers normally take 3 – 5 business days;
3.8.3 E- wallets within 24 to 48 hours
There may be a delay if the Company is unable to verify the Client’s information.
3.9 In the event that it is not possible for the funds to be withdrawn without delay, GTC, in meeting its obligations to act in the client’s best interest, will keep the client informed including about the reasons for any delay whilst the expected timeframe may change subject to obtaining funds from the Liquidity Providers.
Information provided to the Client about any delays in withdrawing funds will be fair, clear and not misleading.
3.10 Credit Card processor Limits (per transaction):
3.10.1 Minimum: No minimum amount
3.10.2 Maximum: up to USD2,000.00
3.11 In case of no trading activity by Client after depositing, or any form of abuse is found relating to the reimbursement policy, the Company reserves the right to reclaim any reimbursement fees, including 50% deposit commission refund. If a Client requests to withdraw funds after no trading activity from the last deposit made, the Company reserves the right to charge the Client an equivalent amount of any banking or other payment gateways fees incurred, or 3% of the total withdrawal amount.
3.12 As per general rule of AML regulations, withdrawals must be performed only through the same bank account or credit / debit card that the Client used to deposit the funds. All withdrawals will be sent in the name of the account holder.
3.13 Clients may be required to present additional information and documents.
3.14 The Company withdrawal fees do not cover third – party fees. The client will be solely responsible for any fees assessed by a beneficiary or correspondent bank. Any processing fees charged by the Client’s bank, which are not included in the Company withdrawal fees, may be deducted from wire proceeds.
3.15 The Clients are responsible for notifying the Company of any cancelled / stolen or change of details prior to requesting a withdrawal; additional documents and official letter from the
Client’s bank may be required prior to effecting the amendments or cancelled / stolen cards.
3.16 If an account has been deemed inactive (no trading activity) for a period of six months, the Company will apply an inactivity fee of 5 USD.
- Right to cancel a withdrawal request
4.1 The Company reserves the right to cancel Client’s request for withdrawal due to any of the following reasons:
(a) When the Client has been asked to provide the Company with updated identification information and the Client has failed to provide valid KYC information and or banking account details and/ or statement within 7 (seven) days. The Company shall inform the Client that the reason for the cancellation of the withdrawal is due to the failure of the Client to provide the updated identification information. The Company will ask the Client to resubmit his/ her withdrawal request once the requested identification information has been done.
(b) When the Client has not provided full and/or correct withdrawal information while submitting his/ her withdrawal request, the Company shall inform the Client that the reason for the cancellation is due to failure on his/ her behalf to provide full and/or correct withdrawal information to the Company.
(c) When the Client has selected an incorrect withdrawal method, the Company shall inform the Client that the reason for the cancellation is the selection of the incorrect withdrawal method.
5.1 Any dispute arising with or in connection to any of the terms and conditions of the Withdrawal Policy shall be dealt by the Company as per the Company’s Complaint handling policy, which is available on the Company’s website.
5.2 The Company shall not be liable from any and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgements, suits, claim, costs, expenses and disbursements of any kind or nature whatsoever, including, without limitation to any investigative, administrative or judicial proceeding commenced or threatened by any person as a result of delayed full receipt of funds from any third party including but not limited to the liquidity providers.
5.3 All complaints must be in writing and addressed to the Customer Support team of the Company via email at email@example.com
More details on the procedure which the Client must adhere to can be found on the Company’s website under the Legal Documentation section.