Withdrawal and Refund Policy

Withdrawal and Refund Policy

Below is GMT CRYPTO’s withdrawal and refund policy

Upon receiving a withdrawal request from a Client, the Company established the policies and procedures below that will help ensure that all requests are processed efficiently and within the regulatory guidelines.

As such, the Company reminds its Clients that withdrawal requests can only be submitted online via the official “Client Area” on its website.

The following should be provided/confirmed by the client before submitting a request:

  1. Full name (including First and last name) on the beneficiary account matches the name on the trading account
  2. There is at least 300% free margin available. This requirement is in place to reduce the likelihood of a margin call
  3. The withdrawal amount is less than or equal to the account balance.
  4. Full details about the method used to deposit, including the credit card or bank account number
  5. Full details about the method for withdrawal. Please note that the Company’s policy is to refund back to the source of the original deposit.

Processing Time Frames:

In order for the company to perform its obligations and have time to process the payment with the credit card company or bank, below is a list of cut-off times:

Until 11:00am GMT (eleven o’clock) on working days:  All withdrawals submitted on or before this time will be processed on the same business day.

After 11:00am GMT (eleven o’clock) on working days:  Withdrawal requests submitted after this time will be processed the following business day.

Weekends/Holidays:  Requests that are submitted on the weekends or holidays will be handled on the first business following the request.  For example, requests submitted on a Saturday will be processed on Monday.

Please note that the Company reserves the right to review the trading account, account history, supporting documentation and to request additional information prior to completing the withdrawal request.  If necessary, the Company will contact the client for further clarification.  In this case, the withdrawal request will be cancelled by the Company until such time as the outstanding matters are resolved.  The client should then re-submit his withdrawal request at the earliest possible convenience.

Withdrawal of Profits:

Due to anti-money laundering requirements (AML), the Company verifies that proceeds from trading are transferred to an account where the beneficial owner is the same as on the trading account.  Therefore, it is recommended that a copy of the bank or credit card statement where funds will be sent is provided to the Company prior to submitting the withdrawal request.

Withdrawals will only be effected towards the client. The Company will not to effect withdrawals to any other third party or anonymous account.

Receipt of funds:

Banks and credit companies may have different internal procedures upon which funds received will be credited.  It is important to note that the Company does not have control over when funds will be available.  If you require a transaction confirmation, please contact the Support Department.  Additional fees may apply.

Initial Deposits Processed by Debit/Credit Card:

In case of credit card deposits, the Company will first refund all amounts up to the amount deposited through that same card.   In some cases, the credit card company sets a limit on the amount of time that can pass for issuing a refund.  Where this time frame lapses, the funds will be returned to the client through via bank wire. If this is the case or there are profits, please refer to the section above regarding processing.

The withdrawal process at GMT CRYPTO as detailed above is structured around strict guidelines to make sure that funds are securely sent back to their originating source and beneficiary.

Withdrawal Fee:

GMT CRYPTO does not charge any withdrawal fee to its clients. It should be noted some banks use intermediary banks that charges fees, which is the client’s responsibility.