In accordance with the rules governing other transactions, besides trades Olymp Trade can legally to charge a special fee from accounts that have not shown any activity on the platform for 180 days, which is approximately equal to half a year. This rule also complies with the KYC and AML verification procedures. Find out in more detail what this fee is and when you need to pay it.
When is the Inactivity Fee Charged?
The collection of inactivity will have to be paid only to those traders on the trading platform who have not been transact for more than 6 months. Active users do not need to worry about paying this fee.
How Much Is the Doormant Customer Fee?
The system will automatically withdraw $ 10 or the equivalent from inactive accounts every month if the account is in a different currency.
How Often Is Inert Account Fee Charged?
This Fee will be charged every month until the user of the inactive account starts to make trading transactions in Olymp Trade.
Will Inactive Account Go To Negative Balance If There Is Not Enough Funds On It?
If there are no funds on the account of the Inactive user, this fee will not be charged.
What Happens to My Bonuses If There Are No Funds In The Account?
In the absence of real money or insufficient amount on an inactive account, bonuses will be canceled.
What Regulates This Right Of The Company To Charge This Fee?
The right of Olymp Trade to withdraw payments for inactivity is governed by the Regulation of non-trading operations, Paragraph 3.5, as well as the KYC / AML rules, which state that in the absence of trading operations and any other movement of funds on the account within 180 days, then the trading platform has the right to charge a monthly fee for maintaining an account, while it can independently determine the amount of such a commission.
Will I be required to Pay the Fee if I Make Only One Transaction in Six Months?
Until the specified period of 180 days has passed since your last transaction. Your account does not fall within the specified rule.
I have several accounts. How will the fee be charged?
If all trader accounts are inactive, the fee will be charged only from one of them. This will take place until the first trading activity of the user on any of his accounts. As well as during withdrawal or replenishment operations.