Withdrawal Policy
Trading in any investment opportunity that may generate profit requires XBO ’s customers to deposit money on their online accounts. Profits may be withdrawn from the online account.
Deposits and withdrawals are regulated by this withdrawal policy, as well as the generally applicable terms and conditions.
Deposits
You, the Client, have to perform all the deposits from personal source (e.g., a single bank account). If you want to start trading, you should ensure this account is in your country of residence and in your name. In order to certify that a SWIFT confirmation is authentic, it has to be sent to XBO to confirm the origin of the money which will be used for trading. If you don’t comply with this withdrawal policy, you may be prevented from depositing the money via Bank/Wire Transfer. For depositing funds via cryptocurrency channels, XBO will reserves the right to ask for proof of sending funds if it is decided that it is in the interest of appending funds to the relevant trading account with the company.
Withdrawals
According to generally acceptable Anti-Money Laundering rules and regulations, withdrawals must be performed only through the same bank account or credit/debit card you used to deposit the funds.
Withdrawals from the account may only be made in the same currency in which the respective deposit was made.
In addition, when you deposit or withdraw money for trading purposes, you should be aware that additional fees and restrictions may apply. Withdrawals are subjected to withdrawal processing and handling fees. Those fees will be deducted from the transferred withdrawn amount. The fee schedule is available on XBO .
Without derogating from the foregoing, XBO may execute withdrawals to a different facility than the one used for the deposit, subject to Anti Money-Laundering regulations.
Furthermore, clients may be required to present additional information and documents when it comes to withdrawals.
Non-Deposited Funds
Funds appearing on Clients’ accounts may include agreed or voluntary bonuses and incentives or any other sums not directly deposited by the client or gained from trading on account of actually deposited funds (“Non-Deposited Funds“). Please note, unless otherwise explicitly agreed, Non-Deposited Funds are not available for withdrawal. Further, due to technical limitations, Non-Deposited Funds may be assigned to the client’s account on certain occasions (for the technical purpose of allowing the closing of positions or an indebted account).
Submitting a Withdrawal Request
In order to process your withdrawal request, you must:
• The client will log in to their account through the website, click on withdrawal, fill up the information and fill up the withdrawal form.
• Sign the printed form if company request it in order to assure that the funds are managed by the rightful person.
• Send the form to us via e-mail as a scanned image (JPG, GIF, PNG, non-password protected PDF) in case it is further required.
• All compliance documentation must have been received and approved by XBO ’s compliance officer in order to proceed with the withdrawal.
• The Beneficiary Name must match the name on the trading account. Requests to transfer funds to a third party will not be processed.
Important: The account holder is required to monitor the account regularly, and ensure that available margin exists in the account prior to submitting this request, as such withdrawal may have an impact on existing open positions or trading strategy used.
Typical Withdrawal Processing Time
The time it takes for the money to reach your credit card or bank account that has been used to deposit funds may vary (usually up to ten business days). Note that it might take longer for withdrawals to bank accounts due to the additional security procedures in force in connection with the policy of the respective bank.
XBO will generally process the request within 2-5 business days of receipt. In order to avoid any delays, please review your information carefully before submitting your request. XBO assumes no responsibility for errors or inaccuracies made by the account holder.
Corresponding withdrawals will take 3 to 5 business days to process. XBO cannot monitor and is not responsible in any way for the Client’s Credit Card Company or bank’s internal procedures. The client must follow up with the credit card or respective bank independently.
Funds are released to your credit account once your credit card merchant has debited the funds from our account. This process may take up to 10 (ten) business days or more to reflect on your credit card account balance. If you do not have online access to your credit card, it should appear on the following billing statement(s) depending on your card’s billing cycle.
Please note clearly that we are not committed to any time frame and that any additional charges imposed by third parties shall be deducted from the deposit or the withdrawal, as applicable.
Additional Charges: If the receiving bank uses an intermediary bank to send/receive funds, you may incur additional fees charged by the intermediary bank. These charges are usually placed for transmitting the wire to your bank. XBO is not involved with and nor has any control over these additional fees. Please check with your financial institution for more information.
Credit/Debit Cards
For Credit card deposits, when you choose an account in a different currency than the currency your trading account is assigned with, your credit card will be debited properly in accordance with the amount deposited and the applicable exchange rates. In addition to the exchanged sum deposited, additional credit card fees may apply (as a result, in such cases, you may notice discrepancies between the sum of the deposit and the sum charged on your credit card). Customers must accept these slight variations that can occur and won’t try to charge this back.
The same credit card must be used if you have used a credit card to deposit money, performed online trading, and decided to cash in on your winnings.
The withdrawal amount per credit card is only allowable to an equal amount of money deposited per credit card or less. More significant amounts must be transferred to the BTC wallet address.
Currency
Your account may comprise different currencies. These will be subject to the following conditions:
We may accept payments into the account in different currencies, and any payments due to or from us and any net balances on the account shall be reported by us in the respective currency; The account is maintained in US Dollars, Euro, CAD, GB Pounds (“Base Currencies“) and any other currency will be converted at the exchange rate existing at the point of conversion (“Exchange Rate“); if the client sends funds in another currency than his account’s currency, we will apply an exchange rate to our discretion.
We will generally settle trades or perform any required set offs and deductions in the relevant currency where the account comprises such currency ledger, save that where such currency balance is insufficient, we may settle trades in any currency using the Exchange Rate.
Deposits and withdrawals are regulated by this withdrawal policy, as well as the generally applicable terms and conditions.
Deposits
You, the Client, have to perform all the deposits from personal source (e.g., a single bank account). If you want to start trading, you should ensure this account is in your country of residence and in your name. In order to certify that a SWIFT confirmation is authentic, it has to be sent to XBO to confirm the origin of the money which will be used for trading. If you don’t comply with this withdrawal policy, you may be prevented from depositing the money via Bank/Wire Transfer. For depositing funds via cryptocurrency channels, XBO will reserves the right to ask for proof of sending funds if it is decided that it is in the interest of appending funds to the relevant trading account with the company.
Withdrawals
According to generally acceptable Anti-Money Laundering rules and regulations, withdrawals must be performed only through the same bank account or credit/debit card you used to deposit the funds.
Withdrawals from the account may only be made in the same currency in which the respective deposit was made.
In addition, when you deposit or withdraw money for trading purposes, you should be aware that additional fees and restrictions may apply. Withdrawals are subjected to withdrawal processing and handling fees. Those fees will be deducted from the transferred withdrawn amount. The fee schedule is available on XBO .
Without derogating from the foregoing, XBO may execute withdrawals to a different facility than the one used for the deposit, subject to Anti Money-Laundering regulations.
Furthermore, clients may be required to present additional information and documents when it comes to withdrawals.
Non-Deposited Funds
Funds appearing on Clients’ accounts may include agreed or voluntary bonuses and incentives or any other sums not directly deposited by the client or gained from trading on account of actually deposited funds (“Non-Deposited Funds“). Please note, unless otherwise explicitly agreed, Non-Deposited Funds are not available for withdrawal. Further, due to technical limitations, Non-Deposited Funds may be assigned to the client’s account on certain occasions (for the technical purpose of allowing the closing of positions or an indebted account).
Submitting a Withdrawal Request
In order to process your withdrawal request, you must:
• The client will log in to their account through the website, click on withdrawal, fill up the information and fill up the withdrawal form.
• Sign the printed form if company request it in order to assure that the funds are managed by the rightful person.
• Send the form to us via e-mail as a scanned image (JPG, GIF, PNG, non-password protected PDF) in case it is further required.
• All compliance documentation must have been received and approved by XBO ’s compliance officer in order to proceed with the withdrawal.
• The Beneficiary Name must match the name on the trading account. Requests to transfer funds to a third party will not be processed.
Important: The account holder is required to monitor the account regularly, and ensure that available margin exists in the account prior to submitting this request, as such withdrawal may have an impact on existing open positions or trading strategy used.
Typical Withdrawal Processing Time
The time it takes for the money to reach your credit card or bank account that has been used to deposit funds may vary (usually up to ten business days). Note that it might take longer for withdrawals to bank accounts due to the additional security procedures in force in connection with the policy of the respective bank.
XBO will generally process the request within 2-5 business days of receipt. In order to avoid any delays, please review your information carefully before submitting your request. XBO assumes no responsibility for errors or inaccuracies made by the account holder.
Corresponding withdrawals will take 3 to 5 business days to process. XBO cannot monitor and is not responsible in any way for the Client’s Credit Card Company or bank’s internal procedures. The client must follow up with the credit card or respective bank independently.
Funds are released to your credit account once your credit card merchant has debited the funds from our account. This process may take up to 10 (ten) business days or more to reflect on your credit card account balance. If you do not have online access to your credit card, it should appear on the following billing statement(s) depending on your card’s billing cycle.
Please note clearly that we are not committed to any time frame and that any additional charges imposed by third parties shall be deducted from the deposit or the withdrawal, as applicable.
Additional Charges: If the receiving bank uses an intermediary bank to send/receive funds, you may incur additional fees charged by the intermediary bank. These charges are usually placed for transmitting the wire to your bank. XBO is not involved with and nor has any control over these additional fees. Please check with your financial institution for more information.
Credit/Debit Cards
For Credit card deposits, when you choose an account in a different currency than the currency your trading account is assigned with, your credit card will be debited properly in accordance with the amount deposited and the applicable exchange rates. In addition to the exchanged sum deposited, additional credit card fees may apply (as a result, in such cases, you may notice discrepancies between the sum of the deposit and the sum charged on your credit card). Customers must accept these slight variations that can occur and won’t try to charge this back.
The same credit card must be used if you have used a credit card to deposit money, performed online trading, and decided to cash in on your winnings.
The withdrawal amount per credit card is only allowable to an equal amount of money deposited per credit card or less. More significant amounts must be transferred to the BTC wallet address.
Currency
Your account may comprise different currencies. These will be subject to the following conditions:
We may accept payments into the account in different currencies, and any payments due to or from us and any net balances on the account shall be reported by us in the respective currency; The account is maintained in US Dollars, Euro, CAD, GB Pounds (“Base Currencies“) and any other currency will be converted at the exchange rate existing at the point of conversion (“Exchange Rate“); if the client sends funds in another currency than his account’s currency, we will apply an exchange rate to our discretion.
We will generally settle trades or perform any required set offs and deductions in the relevant currency where the account comprises such currency ledger, save that where such currency balance is insufficient, we may settle trades in any currency using the Exchange Rate.
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