Deposit & Withdrawal Policy

01Bank Transfer

Deposit

When depositing by a bank transfer, you are required to use only a bank account which is in your name and which exactly matches the name of the trading account. An authentic SWIFT confirmation or wire transfer confirmation, showing the origin of the funds, must be sent to our team once requested. Failure to submit the confirmation may result in the return of the deposited amount, preventing such pending amounts from being deposited to your Zenexo FX Limited account.

Withdrawals

Any withdrawal of funds from your Zenexo FX account to a bank account can only be refunded to the same bank account that the funds were originally received from, or to any other bank account under the client’s individual name. Please note that the processing time for withdrawals to reach your bank account substantially depends on the currency of the bank account, as well as the location and the internal policies and procedures of the recipient’s financial institution and country. Please expect the amounts withdrawn to be credited to your bank account within 2 to 7 business days.

02Credit / Debit Cards

Deposit

Credit / debit card deposits may be performed according to the card companies’ regulations. Credit or debit card deposits are processed instantly in cases where there is no need for additional verification.

Withdrawals

When a withdrawal is performed, the amounts withdrawn will be returned to the same card used earlier for depositing. Zenexo FX cannot process withdrawals made to any different card number or card holder.

We are not liable for any transfer delays you may experience due to a disruption of service in the system of the payment processor. Zenexo FX reserves the right to ask you to upload a scanned colour copy or photos of both the front and back pages of your card. It is advised that you only leave the first 4 and last 4 digits of your card number visible in the image, and also cover the CVV number on the back of your credit card. For cards that do not show the cardholder name, we may require from the client documentary proof of card ownership, such as a confirmation letter or a statement from the card issuer.

The Company takes extreme precautions when dealing with security alerts for credit card payments in order to protect our and our clients’ financial integrity. For this reason, although we strive to credit our clients’ credit / debit card deposits as soon as possible, we do not undertake, promise or ensure immediate crediting after depositing, as in some cases additional verification of payments is likely to be performed.

In some rare cases, if your card does not belong to CFT/OCT programs by which your card issuer allows withdrawals above the deposited amount, we will not be able to process the transaction. In this case you may withdraw your funds via bank transfer instead. Zenexo FX cannot determine whether your card belongs to this program, and accepts such transactions until we receive your withdrawal request. You should consult with your card issuer for any further information.

03Electronic Payment Methods

When depositing funds using these facilities, you agree to, and acknowledge being bound by, the regulations and rules of such service, including but not limited to fees and other restrictions. When a withdrawal is requested, it may be performed only via the same payment method the client used when initially depositing to the trading account.

Using electronic payment facilities as a means of transferring funds is at the discretion of each client, and we recommend that all policies and procedures regarding transfer, transaction limits, fees, etc. are clearly understood by the client prior to opening an account or using their services.

04General Conditions

All withdrawal requests are processed from Monday to Friday between 9am and 6pm Labuan time. All requests received outside of these hours will be processed on the next business day.

Fund deposit and withdrawal is only available for clients who have been identified and assessed by Zenexo FX and whose contact details are confirmed. Clients are required to upload their supporting documents, such as a photo ID and a proof of address, and have their trading account verified in order to have their funds deposited for trading.

Please note that Zenexo FX is legally required to return any client’s deposits made into an unverified trading account in the event that the verification procedures are not completed within 15 days from the first deposit date.

• Zenexo FX reserves the right to impose withdrawal limits and withdrawal fees in its system.
• Zenexo FX cannot accommodate withdrawal requests for floating trading profits. A trading position will need to be closed before any profits attributed to it may be withdrawn.
• No third-party payments are allowed under any circumstances.

This policy protects both us and our clients against fraud and money laundering, as Zenexo FX only transfers funds back to the source of the original deposit. Zenexo FX, at its sole discretion, may execute withdrawals to a facility other than the facility used for the original deposit, and reserves the right to require a particular client withdrawal method at its discretion.

Clients shall request, under all circumstances, to withdraw funds from their trading accounts in the currency in which the deposit was originally made. Should the deposit currency differ from the transfer currency, the transfer amount will be converted by Zenexo FX into the transfer currency.

05Refund Conditions

Zenexo FX provides clients with a clear and transparent refund policy. In cases where clients are not satisfied with the Company’s service level and did not make any trading, investing or conversion transactions, the client can request a refund. The Company offers a 100% refund within 1 working day of the original service deposit. The request will be reviewed within 5 business days. After one day, the deposit will no longer be refundable and will be treated as a normal withdrawal based on the existing withdrawal terms and conditions.

• The client agrees not to request a refund or chargeback from its payment method provider at any time while or after using the Company’s services.
• Profits or losses received as a result of the client’s trading activity cannot be subject to a refund request.
• Refunds should be made only to the payment system bank account / card the client used to deposit.

If the origins of the client’s funds and/or the whole activity are contrary to the Company’s Anti-Money Laundering Policy (AML Policy), the Company reserves the unilateral right to cancel a transfer of funds (deposit or withdrawal) and freeze the assets in order to refund them back.

06Dispute

Any dispute arising with or in connection to any of the terms and conditions of this Withdrawal Policy shall be dealt with by the Company as per the Company’s complaint handling policy, which is available on the Company’s website.

All complaints must be in writing and addressed to the Customer Support team of the Company via email at support@zenexofx.com.

07General

Please note that this policy cannot be exhaustive, and additional conditions or requirements may apply at any time due to regulations and policies, including those set in order to prevent money laundering. Any and all usage of the site and services is subject to the Terms and Conditions, as may be amended from time to time by Zenexo FX at its sole discretion.