Deposit
When depositing by bank transfer, you must use a bank account in your name, and its name must exactly match the name on your trading account. If requested, you must send our team an authentic SWIFT confirmation or wire transfer confirmation showing the origin of the funds. Failure to submit the confirmation may result in the deposited amount being returned and not credited to your trading account.
Withdrawals
Withdrawals to a bank account can only be sent to the same bank account from which the funds were originally received, or to another bank account held in the client’s individual name.
The time for a withdrawal to reach your bank account depends on the account currency, the location, and the internal policies and procedures of the receiving financial institution and country. Bank withdrawals are generally credited within 2 to 7 business days.
Credit and Debit Cards
Deposits
Credit or debit card deposits may be made in accordance with the card company’s regulations. Deposits are processed instantly when no additional verification is required.
Withdrawals
Withdrawals will be returned to the same card used for the deposit. GenxMarkets cannot process a withdrawal to a different card number or cardholder.
We are not liable for transfer delays caused by a disruption to a payment processor’s service. GenxMarkets may ask you to upload a scanned colour copy or photograph of both sides of your card. Only the first four and last four digits of the card number should be visible, and the CVV must be covered. If a card does not show the cardholder’s name, we may request documentary proof of ownership, such as a confirmation letter or statement from the card issuer.
We take precautions when reviewing security alerts for card payments. Although we aim to credit card deposits as soon as possible, additional payment verification may be required, and immediate crediting is not guaranteed.
In rare cases, if a card is not part of a CFT/OCT program that allows its issuer to process withdrawals above the deposited amount, we may not be able to return funds to that card. In that case, you may request a bank transfer instead. GenxMarkets cannot determine whether a card belongs to such a program before receiving a withdrawal request. Please contact your card issuer for further information.
Electronic Payment Methods
When depositing through an electronic payment facility, you agree to comply with that service’s regulations and rules, including applicable fees and restrictions. A withdrawal may be made only through the same payment method used to make the initial deposit.
Using electronic payment facilities is at each client’s discretion. We recommend that you understand the provider’s policies and procedures, including transfer limits and fees, before opening an account or using its services.
General Conditions
Withdrawal requests are processed Monday to Friday between 9:00 a.m. and 6:00 p.m. Labuan time. Requests received outside these hours will be processed on the next business day.
Deposits and withdrawals are available only to clients whose identity has been verified and whose contact details have been confirmed. You may be required to upload supporting documents, such as photo identification and proof of address, and verify your trading account before using funds for trading.
If verification procedures for an unverified trading account are not completed within 15 days of the first deposit, deposits may be returned as required by applicable requirements.
GenxMarkets reserves the right to impose withdrawal limits and withdrawal fees within its system.
GenxMarkets cannot accommodate withdrawal requests for floating trading profits. A trading position must be closed before profits attributed to it may be withdrawn.
No Third-Party Payments
Third-party payments are not allowed. This policy helps protect clients and GenxMarkets against fraud and money laundering. Funds are generally returned to the source of the original deposit.
At its discretion, GenxMarkets may execute a withdrawal to a payment facility other than the one used for the original deposit and may require a particular withdrawal method.
Clients should request withdrawals in the currency in which the deposit was originally made. If the deposit currency differs from the transfer currency, GenxMarkets will convert the amount into the transfer currency.
Refund Conditions
If a client is not satisfied with GenxMarkets’ service and has not traded, invested, or made conversion transactions, the client may request a refund. GenxMarkets offers a 100% refund within one working day of the original service deposit. The request will be reviewed within 5 business days. After one day, a deposit is no longer refundable and will be treated as a normal withdrawal under the applicable withdrawal terms.
The client agrees not to request a refund or chargeback from their payment method provider while using or after using GenxMarkets’ services.
Profits or losses resulting from a client’s trading activity are not eligible for a refund.
Refunds should be made only to the payment system, bank account, or card used by the client to make the deposit.
If the origin of a client’s funds or the client’s activities conflict with GenxMarkets’ Anti-Money Laundering Policy, GenxMarkets reserves the right to cancel a transfer (deposit or withdrawal) and freeze assets for return.
Disputes
Disputes arising out of or in connection with this Deposit & Withdrawal Policy will be handled in accordance with GenxMarkets’ Complaint Handling Policy, available on the GenxMarkets website.
All complaints must be made in writing and addressed to the Customer Support team by email at support@genxmarkets.com.
This policy may not cover every situation. Additional conditions or requirements may apply due to regulations or policies, including those intended to prevent money laundering. Use of the website and services is also subject to the GenxMarkets Terms & Conditions, as amended from time to time.
Questions about this policy?
Contact GenxMarkets Support at support@genxmarkets.com.