Our Deposit Policy
If you would like to deposit and withdraw funds into and out of your Dracofx trading account, you will have to meet the following criteria and be able to provide the required documentation.
This process is required to be completed once and if you deposit funds using a different credit card. You will be obligated to send a copy of your credit card.
If the verification process is pending, Dracofx accepts deposits and will allow trading to commence. It should be noted that no withdrawals will be processed until your account is validated.
As a trader, you will be required to submit the following documentation to authenticate your Dracofx trading account as follows:
- Photo ID – You must submit a government issued photo Identification such as a driver’s license, passport or residency card valid for at least 6 month.
- Proof of Residence – In order to verify your billing or physical address in the country that you reside in, please submit a utility bill (ie. electricity, water, gas, telephone bill) or a valid bank statement.
- Credit Card – If you have made an investment using your credit card, you need to submit a copy of this credit card. Please copy both sides of the card with only the first 6 and last 4 digits visible. Ensure that the CVV on the back of the card is blacked-out as well.
Please scan all of the above mentioned documentation in clear, legible copies and send them via email to firstname.lastname@example.org
Be sure to include your name in the subject line of the email.
These regulations help Dracofx in protection against money laundering or fraud. They are also required by international law and are an integral part of our compliance obligations with credit card companies worldwide.
If you have any issues with the above information, please contact us and we will do our very best to resolve the problem immediately. Email us at email@example.com.
Our Fiscal Responsibility
The initial withdrawal of account type Silver and Gold in between one calendar month is free of charge. Each additional withdrawal will be debited 20 Pound, 25 EUR, and 30 USD. Platinum Accounts without charge.
*Clients who were once in a specific account status like Platinum, and were meant to have lost all of their funds and are interested in re-funding their trading account will be set to the account type according to their (re)investment and all Terms and Conditions will apply to the new account type.
Dormant Account Policy
Client accounts in which have been void of transaction (ie. Trading, withdrawals, deposits), for a set time frame of six months, will be considered by the Company as being under the status of ‘dormant accounts’. Dormant accounts will be charged an annual maintenance fee of $25 US dollars or the full amount of the free balance in the account assuming the free balance is lower than $25 US dollars. The client will not be charged if the free balance is zero. As a consequence, all accounts with a zero free balance will be closed.
Withdrawal Time Frame
Upon submitting a withdrawal request to Dracofx, the procedure will take 3 – 5 business days to process the request. Upon approval, please wait an additional 5 – 7 days for the funds to appear in your account. Withdrawal funds will be refunded via the payment method used for the initial deposit and it must not exceed amount of the deposit. For the purpose of this explanation, all additional sums above the deposited amount are considered to be ‘profits’. Profits can be refunded via wire transfer directly to your bank or account.
Withdrawals are always made using the same payment method that was used to make the initial deposit.
We cannot send more funds back to your credit card than initially deposited. If additional amounts need to be withdrawn they will be sent using an alternative payment method (i.e. Wire Transfer or Dracofx card)
Funds cannot be refunded to expired credit/debit card.
Withdrawal will be approved only if the documents are submitted and approved by the compliance.
Should credit/ debit card deposits be received, all withdrawals up to the amount of total deposits by credit/ debit card will be processed back to the same credit/ debit card on a priority base.
Deposits via Visa/ MasterCard that were executed more than 6 months ago cannot be withdrawn using the same payment method. Funds will be sent via an alternative method in the event of a withdrawal request being made by the Client.
DracoFx does not charge any withdrawal sent back to the same source (Credit/Debit card). If any fees are applied they are charged solely by the service provider vendor, bank or credit card company. DracoFx does not cover these charges. These charges are covered by the end sender/receiver of the funds. In the event that the Company is charged during a funding transaction by any third party, the Company reserves the right to pass the relevant cost back to the Client.
In case a card that you used for depositing funds with DracoFx is cancelled/lost/stolen/ re- placed/do not support the foreign remittance refunds, please inform us prior submitting withdrawal request and provide official letter from your bank stating the same. Please note that all refunds are final and cannot be reverted.
DRACOFX MasterCard can be used to withdraw profit only. Maximum amount that can be withdrawn to the card per month is $5000.
Withdrawal made through Dracofx master card will be charged $10 for each transaction.
Withdrawal made through wire transfer will be charged $35 per transaction.
DRACOFX MasterCard cannot be issued to corporate account holders.
Types of Withdrawal
All funds that were sourced via credit card, may be withdrawn to the same credit card exclusively. For credit card withdrawal, the maximum amount of withdrawal must not exceed the amount that was initially invested. Any additional funds are considered as ‘profits’ and can be withdrawn using wire transfer.
There is no additional fee if you would like to withdraw via credit card.
Withdrawals by means of wire transfer can be processed for funds that were deposited utilizing the wire transfer method. Profits may also be processed using a wire transfer withdrawal.