DEPOSIT & WITHDRAWAL
POLICY

Trading in any investment opportunity that may generate profit requires Castle Rock Wealth Management customers to deposit money on their online account. Profits may be withdrawn from account.

Deposits and withdrawals are regulated by this WD policy as well as the generally applicable terms and conditions.

Deposits

You, the Client, have to perform all the deposits from a source (e.g. single bank account). If you want to start trading, you should make sure this account is in your country of residence and in your name. In order to certify that a SWIFT confirmation is authentic, it has to be sent to Castle Rock Wealth Management to confirm the origin of the money which will be used for trading. If you don’t comply with this WD policy, you may be prevented from depositing the money via Bank/Wire Transfer. If you did not login and traded from your account within six (6) months (“Dormant Account”), your Dormant Account will be subject to a deduction of 10 % each month (the “Dormant Fee”).

Please allow up to 5 business days for the deposited funds via Bank/Wire Transfer to appear on your trading account.

Withdrawals

According to generally acceptable AML rules and regulations, the account must remain active for 360 days before withdrawal can be made without fee, however after 180 days of actively trading Withdrawals are allowed with a 6% penalty fee.

Withdrawals must be performed only through the same bank account or credit/debit card that you used to deposit the funds.

Unless we agree otherwise, withdrawals from the Account may only be made in the same currency in which the respective deposit was made.

In addition, when you deposit or withdraw money for trading purposes using alternative payment methods, you should be aware that additional fees and restrictions may apply. Withdrawals are subjected to withdrawals processing and handling fees. Those fees will be deducted from the transferred withdrawn amount.

Without derogating of the foregoing, Castle Rock Wealth Management may execute withdrawals to a different facility than the one used for the deposit, subject to Anti Money-Laundering regulations.

Furthermore, when it comes to withdrawals, Client may be required to present additional information and documents.

Withdrawals Fees

Withdrawals will be charged a transaction fee of the following:

50.00 USD/GBP/EURO for wire transfers;
25.00 USD/GBP/EURO for credit cards plus a processing fee of 10.00 USD/7.00 EUR/5.00 GBP;
25.00 USD/GBP/EURO for ePayments.

Minimum withdrawal for wire transfers is 250.00 USD/GBP/EURO. Minimum withdrawal on any other method is 100.00 USD/GBP/EURO. Note that these charges exclude the transaction fee imposed; for instance, if a minimum of $250 is to be withdrawn by bank wire transfer, a transaction fee of $50 will be charged.

Fees may change, as they depend on the processing system and/or bank of Avalon Wealth Group.

Non-Deposited Funds

Funds appearing on Clients’ account may include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds (“Non-Deposited Funds”). Please note unless otherwise explicitly agreed, NonDeposited Funds are not available for withdrawal. Further, due to technical limitations, NonDeposited Funds may be assigned to Client’s account in certain occasions (for example, for the technical purpose of allowing the closing of positions or an indebted account).

Without derogating from the abovementioned, bonuses issued to Client by Castle Rock Wealth Management may only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued (“Minimum Trading Volume“).

Submitting a Withdrawal Request

In order to process your withdrawal request, you must:

Request directly from your broker.
Log in to your account through the website.
Open a withdrawal request from client area.
Fill up the withdrawal form.
Print the withdrawal form.
Sign the printed form.

All compliance documentation must have been received and approved by Castle Rock Wealth Management compliance officer in order to proceed with the withdrawal.

Beneficiary Name must match the name on the trading account. Requests to transfer funds to third party will not be processed.

IMPORTANT: ACCOUNT HOLDER IS REQUIRED TO MONITOR ACCOUNT REGULARLY, AND ENSURE THAT AVAILABLE MARGIN EXISTS IN THE ACCOUNT PRIOR TO SUBMITTING THIS REQUEST, AS SUCH WITHDRAWAL MAY HAVE AN IMPACT ON EXISTING OPEN POSITIONS OR TRADING STRATEGY USED.

Typical withdrawal processing time

The time it takes for the money to reach your credit card or bank account that has been used to deposit funds may vary (usually up to five business days). Note that it might take longer for withdrawals to bank accounts due to the additional security procedures in force.

The request will generally be processed by Castle Rock Wealth Management within 4-7 business days of receipt. In order to avoid any delays please review your information carefully before submitting your request. Castle Rock Wealth Management assumes no responsibility for errors or inaccuracies made by the account holder. Corresponding withdrawals will take 4 to 7 business days to process. Castle Rock Wealth Management cannot monitor and is not responsible in any way for the Client’s Credit Card Company or bank’s internal procedures. Client must follow up with the credit card or respective bank independently.

Funds are released to your credit account once your credit card merchant has debited the funds from our account. This process may take up to 5 business days or more to reflect on your credit card account balance. If you do not have online access to your credit card, it should appear on the next billing statement(s) depending on your card’s billing cycle.

Please note clearly that we are not committed to any time frame and that any additional charges imposed by third parties shall be deducted from the deposit or the withdrawal, as applicable.

Additional Charges: If the receiving bank uses an intermediary bank to send/receive funds, you may incur additional fees charged by the intermediary bank. These charges are usually placed for transmitting the wire for your bank. Castle Rock Wealth Management is not involved with and nor has any control over these additional fees. Please check with your financial institution for more information.

Currency

Your Account may comprise of different currencies. These will be subject to the following conditions:

We may accept payments into the account in different currencies and any payments due to or from us and any net balances on the account shall be reported by us in the respective currency;
The account is maintained in US Dollars, Euro or GB Pounds (“Base Currencies”) and any other currency will be converted at the exchange rate existing at the point of conversion (“Exchange Rate”);
If the Client send funds in another currency than his account’s currency, we will apply an exchange rate to our discretion.

We will generally settle trades or perform any required set offs and deductions in the relevant currency where the account comprises such currency ledger, save that where such currency balance is insufficient, we may settle trades in any currency using the Exchange Rate available at https://www.ecb.europa.eu/home/html/index.en.html

Additional conditions

Please note this policy cannot be exhaustive, and additional conditions or requirements may apply at any time due to regulations and policies, including those set in order to prevent money laundering. Please note any and all usage of the site and services is subject to the Terms and Conditions, as may be amended from time to time by Castle Rock Wealth Management at its sole discretion.

For queries concerning policy matters, please contact us anytime.

Portfolio: Portfolio

DEPOSIT & WITHDRAWAL POLICY

DEPOSIT & WITHDRAWAL
POLICY