Refund Policy

 

In certain exceptional circumstances, CIBfx Limited. may refund payments made by credit card.
In this case, the funds will be refunded to the card that was used for the deposit.

1. The Client has the right to close his/her account at any time he/she wishes to. 
The Company will approve the account closure if:
a. There are not active investments placed.
b. There are no investigations underway associated with any of the terms of the current Terms of Services.

2. If there are no charges applied to the account, the Company has to close the account by the Client's demand.

3. If the account of the Client has been suspended due to the violation of the current Terms of Services or due to any other abuse detected by the Client, the refund is not provided under any circumstances.

4. The Company does not have to provide any type ofCapi the refund in case the loss was caused due to any reason either foreseen or unforeseen.

5. A refund request can be made in cases in which the account had been deposited into, but no orders were executed by the client.

6. In this case, the same method of payment used for the deposit will be used for the refund. The refund will be for the full amount, unless other arrangements have been made.

7. Processing of refund requests can take up to one week.

8. All other requests will be treated as WITHDRAWALS and will be processed using those methods and procedures.

9. Withdrawals from trading accounts which have never had any active trades on them, will be charged at a 10% fee to cover the processing costs. 

10. Scalping: A trading strategy through which the trader (Scalper/Pip Hunter) attempts to take advantage of small price moves and narrow ranges by making many transactions on small price changes over a small time frame. In the event that CIBfx classifies a client as a scalper or a pip hunter - which the company does not currently allow, the company may, at its sole discretion, and without a prior written notice, take one of the following actions:

  • Terminate this Agreement
  • Close out all or any of the Client's open positions at current market prices
  • Debit the Client Account(s) for the amounts which are due to the Company
  • Close any or all of the Client Accounts held with the Company
  • Combine Client Accounts; consolidate the Balances in such Client Accounts and offset those Balances
  • Refuse to open new Client Accounts for the Client
  • Withhold deposited funds indefinitely. 

If you have any questions about this Policy do not hesitate to contact us by E-mail: support@cibfx.com

Please note: Due to fraud prevention and anti money laundering laws, accounts which have never traded are unable to withdraw funds within 30 working days of dormancy and must have completed trading of up to 'X' standard FX lots, 'X' being calculated as total deposit amount divided by 10.