These terms and conditions (hereinafter “Terms“) apply to any transfers made by clients of ServiceCom Ltd. (hereinafter “MTrading“) for the purpose of depositing monetary funds to or withdrawing monetary funds from (hereinafter “Payment”) the client’s trading account, which has been opened with MTrading.
Upon submitting a request to MTrading for making a Payment, each client confirms that they have read, understood and agree to be bound by these Terms. With regard to matters not determined by these Terms, the general terms and conditions of MTrading shall apply.
MTrading reserves the right to accept or deny Payment requests of clients at its own discretion at any time. Please note that MTrading shall not accept nor process Payments directed to or originating from accounts belonging to someone other (third person) than the client.
In case of withdrawal of funds, MTrading reserves the right to execute such a request to the same bank, intermediary bank or any other payment solution or system (hereinafter “Payment Service Provider”) and to the same account used by the client for making the initial or any previous Payment, regardless of the withdrawal method chosen or preferred by the client.
MTrading reserves the right to withhold the execution of Payments and request additional documents at any time, either to check the source of Payments or if otherwise deemed necessary by MTrading.
Additional Payment details
More specific details applicable to Payments (e.g. Payment limits, time schedules etc.) shall be displayed in the Trader’s Room upon submitting the Payment request, whereas each client shall be solely responsible for taking note of such details prior to making any Payment requests.
Erroneous or incorrect Payment requests
The client is encouraged to be mindful of any inaccuracies on the Payment request. Moreover, in the event that the client has made an erroneous or incorrect Payment request, MTrading shall not be obligated to reclaim the Payment from the Payment Service Provider nor reimburse the client for any fees, costs or other expenses occurred therein. The client shall be responsible for compensating MTrading for any costs or damages incurred as result of the erroneous or incorrect Payment request.
The commissions and fees of MTrading shall apply to all Payments. In the event that currency conversions are required, MTrading reserves the right to apply a conversion fee to the Payment, based on the exchange rate quoted by MTrading within a reasonable time before the Payment is made.
In addition to the fees of MTrading, the Payment Service Provider may apply its own service fees (e.g. conversion fees) to making Payments through their systems. It is the sole responsibility of the client to be aware and take into consideration such fees. MTrading shall not be responsible for notifying the client thereof.
As laws and regulations regarding financial services and monetary operations may differ greatly from region to region, each client shall be solely responsible for complying with any local regulations, in particular with any applicable tax liabilities.
Malfunction of payment systems
Each client should note the inherent vulnerability to failure, delay and/or disruption of online payment systems, in particular as may be associated with the Payment Service Provider. The client is strongly recommended to keep their anti-virus software up-to-date and to continuously check their computer for viruses.
Under no circumstances shall MTrading be held responsible for any delays, malfunctions and/or outages of the payment systems and/or any other technical systems which belong to or are operated by the Payment Service Provider and/or for the results of such delays, malfunctions and/or outages.