Implementation of Dormancy Fee

Implementation of Dormancy Fee

• 17 Nov 2020

Dear Client,

Please note that with immediate effect from 17 November 2020, we will be implementing a Dormancy Fee on all dormant accounts. 

Kindly refer to clause 18 (Inactive and Dormant Client Accounts) of the Clients Agreement for further information.

What is a dormant account?

An account is deemed dormant when there are no activities (trading / withdrawals / deposits / internal transfers) in your Client Portal, which includes MT4 Trading account(s) and IB wallet, for a continuous period of 90 days and more.

All remaining bonuses and promotion credits will be automatically removed in dormant accounts.

How does Dormancy Fee work?

Dormant accounts are charged a monthly dormancy fee of USD15, or equivalent. If your account remains dormant after the first deduction, you will subsequently be charged USD15 every month until there are activities in your account again. 

In the event of insufficient funds in a single MT4 account or IB wallet, the full amount will be deducted. To constitute the total dormancy fee of USD15, the remaining amount will be deducted from other MT4 accounts or IB wallet. 

No fees will be charged if the balance in your Client Portal account is zero. All dormant accounts with zero balance will be archived. 

What can you do?

You can open a position or maintain an open position to keep your account active. You may also deposit, withdraw, or do an internal transfer of your remaining funds to avoid the charge. 

If you have any questions, please contact our Customer Service through live chat, or email us at [email protected].