Applying for account termination is simple and can be carried out in a few easy steps. Please read through this guide about the process in detail.
The application process
Here are things you need to know about requesting account termination:
- The application for account termination should be sent in the form of an email to email@example.com from the account holder’s registered email address. Requesting account termination through chat or phone call is not considered an official request.
- The email should contain the following details
- Account number
- Secret word/phone password
- Reason for termination
It is suggested that you read the Client Agreement (PART A, Section 10, titled “Termination”) for an in-depth look at our provisions; the Client Agreement is available on our website.
- Once the application is received, you will receive a response from us regarding the actual termination date (which will be in 5 business days) and also a verification call will be made to confirm the request. The email also contains details of the rules that apply to the account once it is terminated.
- If you wish for the account to be terminated sooner than 5 business days, you may mention that in your application but this is at the company's discretion.
- On the day of termination, you will receive an email that your account has been terminated, along with account statements for all active accounts for the past 30 calendar days. If there are funds remaining in your account, they will have already been returned to you.
- If the funds remaining in your account are less than the minimum withdrawal permissible by the payment systems used in the past, you will be required to inform us about an alternative method to send the funds to you.
What you need to know about a terminated account
Once you apply for account termination, you are obligated to follow the below steps:
- Close all your open positions. If you fail to do so, the open positions will be closed at current quotes upon termination.
- Your access to the trading platform with the terminated trading account will cease and functionality made limited.
- You will not be able to open new positions.
- The company reserves the right to
a. Reject withdrawals and keep your funds as necessary to close positions which have already been opened and/or pay any pending obligations of yours under the Client Agreement.
b. Combine your accounts to consolidate the balances in such accounts and to set off those balances.
c. Convert any currency.
d. Close all the accounts in your name maintained with us.
- If the balance of your trading account is in your favour, then such balance will be paid to you as reasonably practicable and a statement of account will be sent to you.