Terms & Conditions

1. This Agreement is negotiated between:

1.1 The website owned and provided by FTC Consultech LTD, registration number: 25570 BC 2019, address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines.

1.2 An individual, who has registered a trading account with the Company in any way (hereinafter – the “Client” or “Trader”). The Company offers the Client access to a trading platform for trading Forex in the financial markets through the website on the domain name Eurocomtrade and any sub-domains. This license agreement (hereinafter – the “Agreement”) governs the Trader’s use of the Company’s trading services. In addition to this agreement, the relationship between the Trader and the Company is also regulated by the additional rules, which are set out in the “Bonus policy of the Company” section.

2 . Introductory provisions:

2.1 The act of being registered on the website of the Company confirms the Trader’s acceptance of their obligation under this Agreement in its entirety. This Agreement together with the rules, which are set out in the section “Bonus policy of the Company”, governs the relationship between the Client and the Company and determines the use order of the Company’s trading services.

2.2 A Trader, registered on the Company’s website, confirms that

2.2.1 information provided by the Trader is truthful

2.2.2 he is an adult (over the age of 18)

2.2.3 the personal information will be updated in a timely manner

2.2.4 the Trader’s obligations to third parties, as well as the legislation of the Trader’s country of residence, will not be violated by the use of the Company’s services.

2.3 The Company reserves the right to modify the company’s website or its contents, the trading platform, the access to which is provided to the Client, and the content of the services in any way. The claims to the Company for any losses incurred by the Trader as a result of such modifications are not accepted.

2.4 If the Company detects an attempt to open more than one trading account for one Trader, or an attempt to access to the Trading Platform by using the Trading account of another trader, this will be considered as fraud. In such a case the Company reserves the right to deny access to the trading platform. The Company can freeze the trading account, as well as prohibit the Trader from using the Company’s services in the future. Thus, Traders can register a unique trading account using their real personal data in order to get access to the Trading platform. All transactions must be performed through this unique trading account.

2.5 The interaction between the Trader and the Company is carried out within the territory of Saint Vincent and the Grenadines , as this is the country of the physical location of the Company’s main servers.

3. The legitimacy of the Company’s services:

3.1 The Company absolves itself of responsibility regarding the legality of the Company’s services in the legal space of the country of the Trader’s residence. The Company does not provide legal advice on the permission or prohibition of the use of the Company’s services by the Trader. The Trader understands and accepts that online trading, financial or other assets may be illegal in the legal space of some countries. The trader is obliged to verify the legitimacy and legal framework before the act of registration with the Company.

3.2 The Company does not act in contradiction with the legislation operating in the legal space of Trader’s country of residence. The Company’s services are aimed at the Traders who do not have limitations in forex trading. The Company takes away any responsibility for the unauthorized or illegitimate use of the Company’s services by the Trader. The fact of the Trader’s registration on the website of the Company confirms the compliance with the legislation of the trader’s country of residence regarding forex trading.

4. Access to the Company’s services:

4.1 A person who has not reached the age of majority in their jurisdiction cannot be a Trader. In case of doubt about the Trader’s age, the Company may require documentation, confirming the fact of the majority. If such a document is not provided, the Company has the right to freeze the Client’s trading account and cancel access to the trading platform.

4.2 The representatives of the company have the right to verify the authenticity of the Trader’s personal data. Verification is carried out in the form of a request for the Trader’s relevant documents (passport or driver’s license, utility bills and/or bank statements). The Company may require notarization of the requested documents. If the requirement of the Company to provide the necessary documents has not been met, the Company reserves the right to freeze the Client’s trading account and cancel access to the trading platform. In the event that the Company’s internal security department has a reason to suspect that the documents are forged or distorted, a Trader will lose access to the trading platform and can no longer use the services of the Company. The company is not obliged to inform the Trader about the details of the document verification process.

4.3 A Broker, without notification of the Client, has the right to check the trader‘s personal details at any time. This check can include validation of the name, address, age, credit rating and current trading activity. Third parties may be involved to implement such inspections by the Company. In the event of forgery from the Trader, the Company reserves the right to block the Client’s trading account and ban the use of the Company’s services in the future. 4.4 All KYC documents need to be sent/collected prior to making the first deposit.

4.5 Company reserve the right to be released from responsibility for unauthorized use of passwords, which the Client undertakes to keep confidential.

5. Jurisdiction:

Any dispute related to this Agreement and/or the Services, and/or the Website should be governed in accordance with the Laws of Saint Vincent and the Grenadines.

Unauthorized use of this system is prohibited and violators can be prosecuted under the laws of Saint Vincent and the Grenadines. Any action seeking legal or equitable relief arising out of or relating to these Terms will be brought only in the courts of Saint Vincent and the Grenadines.

KYC

Your account must have status Fully Compliant; otherwise, it will be blocked within 48 hours. Make sure you have provided us the following documents:

POI: proof of identity (passport, national ID card, driving license);

POR: proof of residence (utility bill for water, gas, internet, electricity, landline phone etc’). Please note that the document must not be older than 6 months and should include your full name and current address that you’ve provided during registration;

Credit Card: the first 4 digits and last 4 digits should clearly be visible. The card should be signed and the CVV code must be hidden;

Declaration of deposits (DOD): should be provided for each CC you use to make deposit.

Privacy Policy

We maintain various safeguards to comply with international regulation which is aiming to guard your nonpublic personal information including your username, passwords, the use of encryption technology, firewalls and authentication.

Our staff and affiliates will certainly strictly adhere to security practices and procedures to ensure confidentiality information of our clients.

We may share information with affiliates if the information is required to provide the service or product which you requested or to provide you with a chance to conduct the products or services, which were offered you by our affiliates.

We don’t share non-public personal information about our current or former clients with any third parties except for some limited circumstances like:

For translation services with introducing brokers;

When a client is referred by any introducing brokers;

When we send the reports and statements to customers or in the real future and notified all offers and products and services;

When you use a client reporting agency that prepares your credit report, we may provide it with necessary information, as permitted by law;

We may also disclose your personal information in case we sell or buy assets or business

If we are under a duty to disclose or share your information in order to comply with any legal obligation or to enforce or apply our T&C and offer agreements, or protect the rights, property or safety of money.

AML

MarketsFM (https://www.markets.fm) does not tolerate money laundering and fights against money launderers. MarketsFM has policies in order to deter people from laundering money. These policies include:

  • Ensuring clients have valid proof of identification.
  • Requiring the client to provide valid utility bills for proof of residence.
  • Maintaining records of identification information.
  • Determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists.
  • Informing clients that the information they provide may be used to verify their identity.
  • Closely following clients’ money transactions.
  • Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.
  • Not accepting money from countries on terror watch lists, such as Iran, Syria, North Korea and Yemen.

Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system. It is moved in such a way to make it appear that the funds have come from legitimate sources.

Money Laundering usually follows three stages:

  • Firstly, cash or cash equivalents are placed into the financial system.
  • Secondly, money is transferred or moved to other accounts (e.g. futures accounts) through a series of financial transactions designed to obscure the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts).
  • Lastly, the funds are re-introduced into the economy so that the funds appear to have come from legitimate sources (e.g. closing a futures account and transferring the funds to a bank account).
  • Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. In particular, a trading account can be used to execute financial transactions that help to obscure the origins of the funds. MarketsFM directs fund withdrawals back to the original source of remittance as a preventative measure. International Anti-money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account, and implement a compliance program to deter, detect and report potential suspicious activity. These guidelines have been implemented to protect MarketsFM and its clients. For questions/comments regarding these guidelines, contact MarketsFM Compliance at support@markets.fm

Refund Policy

You are eligible to withdraw your funds from your Account. In order to withdraw your money from your Account, you will need to ensure that your Account has been verified and confirmed.

Verifying your identity and Account is the requirement of the Company’s KYC or Know Your Customer policy.

Funds may be withdrawn by yourself from your Account provided that such funds are not being utilized for margin purposes or have otherwise become owing to us. In order to withdraw your funds, you shall make a withdrawal request on the website.

Please pay attention that while making a withdrawal of funds from your Account you are requested to pay a commission fee 4% of a withdrawal amount, which is needed in order to cover fees that MarketsFM pays to payment processors for successful withdrawal procedure. While making a withdrawal request on the Company’s website, you declare and confirm that you are informed and agree to pay 4% fee of withdrawal.

Once your withdrawal request is approved, your withdrawal request will be processed by us and sent for execution to the same bank, credit card or other source from which the funds were debited or as we determine in our absolute discretion, as soon as possible.

Withdrawals will only be made from a source entitled with your name.

Note that some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction.

Please keep in mind that a client’s failure to complete the MarketsFM’s due diligence procedure to the MarketsFM’s satisfaction may affect the client’s ability to withdraw his funds. If you request a withdrawal of funds from your account and we cannot comply with it without closing some part of your open positions, we will not comply with the request until you have closed sufficient positions in order to allow you making the withdrawal. In order to process your withdrawal request please ensure that the funds, namely the realized balance, remaining on your account after your finished withdrawal is at least twice of your used margin.

Complaint and dispute Policy

Legal Restrictions: without limiting the undermentioned provisions, you understand that laws regarding financial contracts vary throughout the world, and it is only your responsibility to make sure you properly comply with all laws or guidelines in your country of residence regarding the use of the Site. To avoid any doubt, the ability to access our website does not necessarily mean that our Services and/or your activities through the website are legal under the laws or directives relevant to your country of residence.

Any dispute related to this Agreement and/or the Services, and/or the Website should be governed in accordance with the Laws of Saint Vincent and the Grenadines.
Unauthorized use of this system is prohibited and violators can be prosecuted under the laws of Saint Vincent and the Grenadines. Any action seeking legal or equitable relief arising out of or relating to these Terms will be brought only in the courts of Saint Vincent and the Grenadines.

Risk Warning

You cannot carry out trading operations based on third parties’ advice. In case you decide to use third party for your trading activity we will not carry any responsibility for any results that may occur to your funds. For the avoidance of doubt, in the event that you have acted on such third party advice, you (alone) shall bear the responsibility and consequences and will indemnify us and hold us harmless from any damage that may be caused to us due to such actions.

You confirm your awareness and agree that in case that you will cause a Damage* to us by any kind of action on your part, you agree to pay us liquidated damages (in addition to the damages incurred and without a proof of damage) in a fixed amount of 5,000 USD. Moreover, you should note that you may be subject to a legal action and possibly liable for any damages incurred by us and by any other third party due to such actions.

* Damage – any kind of damage, including, direct and indirect damages, loss of profits, and damages due to falsely applying for refund (i.e. in cases where we were not in fault that should have entitled you to a refund).

Withdrawal Policy

The withdrawal process at Markets.fm is stress-free and straightforward. With these three easy steps, you can easily withdraw your funds from Markets.fm:

  1. Download the withdrawal request form
  2. Fill the form in full and email it to our banking support at banking@markets.fm
  3. Your funds will be transferred to you once the payment withdrawal request is approved.

The approval process commences as soon as you submit a completed withdrawal request form. Please keep in mind that the withdrawal request might take up to three business days to process. As soon as the withdrawal request is approved, your funds will be sent to the payment method you used when depositing funds. Also note that once the withdrawal request at Markets.fm has been processed, it could take up to 7 working days for the funds to reflect in your account. We advise that you contact your financial institution in case of delays and fees charged. Note that Markets.fm doesn’t charge any fees for fund withdrawals.

Account Verification

The security of users’ financial and personal data is important to us at Markets.fm. We also follow both local and international regulations. As a result of this, we have a strict account verification and compliance process. Our rigorous verification process ensures that we are able to prevent vices such as fraud, money laundering, and any other illegal activities.

The implementation of a rigorous account verification makes it possible for us to secure your account and funds. We will require you to verify your identity and provide extra documentation as proof of residence. Upon opening your account, you will need to verify your account before carrying out your trading activities. You will be allowed to carry out transactions as soon as the verification is complete. After confirmation, you will not be required to submit any documents each time you want to make a deposit or withdrawal.

The required documents are:

Your Proof of Identification (POI) and Proof of Residence (POR) documents. These documents can be emailed to our customer support at support@markets.fm. You can also upload the documents on our platform. Simply log in to your Markets.fm account and visit the “Upload Documents Page” page to complete the process.
Our customer support team is available at all times if you need assistance or if there is any process you do not understand. The customer support can be contacted via telephone, live chat, or you can email us directly at support@markets.fm.

Proof of Identification (POI) Documents

To complete the identity verification process, you will have to provide us with a copy (either scan or photo) of a valid government-issued ID document. Markets.fm accepts the following forms of identification:

  • National Identity Card
  • Passport
  • Driver’s License

It is essential that the ID document copy you provide is clear and legible, and it must clearly indicate your full name, the date of issuance, expiry date, and a clear photo of you.

Proof of Residence (POR) Documents

To complete the identity verification process, you will have to provide us with a copy (either scan or photo) of a valid government-issued ID document. Markets.fm accepts the following forms of identification:

  • Credit Card Statement
  • Bank Statement
  • Utility Bill (For example, water, gas, electricity, or a landline telephone bill)

Credit Card Verification

For those using credit and debit cards to deposit funds into their account, you will need to provide a clear copy (scan or photo) of the front and back of the card used.

For the card verification, the following information must be clearly visible:

  • Card holder’s full name
  • Card expiry date
  • First 5 and last 4 digits of the card (Please note - The CVV number and the middle 7 digits of the card must be masked/hidden)
  • Card signature (this must match that of your ID card)

Important: you will be required to send our customer support team a credit card statement that shows a card belongs to you if the copy of the credit or debit card you provide doesn’t match your account name. The statement you are to provide must indicate your full name including the last four digits of the card.

Proof of Payment - Bank Transfer

Please note that withdrawals to bank accounts will only be processed to the original accounts used to deposit funds. Due to this, it is vital that you provide us with a screenshot of your bank transaction statement, clearly showing the deposit made into your Markets.fm trading account.

What withdrawal options does Markets.fm offer?

Although Markets.fm offers a wide array of withdrawal options, it is essential to note that the withdrawal of funds is processed back to the original account you used to deposit funds into your trading account. For instance, if you used a credit card to deposit funds into your Markets.fm account, an amount up to the value that was debited from the card initially will be sent back to the card and any amount over and above that (earnings/profits), will be deposited directly into your bank account. Due to security concerns, funds are only processed back to the original account that matches with the name on your trading account.
Please note that prior to the processing of withdrawal requests, Markets.fm will need you to complete the Proof of Identification (POI) and the Proof of Residence (POR) processes and also to verify your credit card, if required.

How long does the withdrawal process take?

Markets.fm is always striving to improve the withdrawal process to ensure that our customers can access their funds as soon as possible. To this end, we strive to ensure that withdrawal requests are processed within 1-5 business days. However, keep in mind that delays could be encountered from your financial institutions as some of them take time to process incoming funds. It is advised to contact your financial institution and to enquire about their processing times since Markets.fm doesn’t have control over the timeframe.

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