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FAQ

User Account Inactivity Fee

Questions and answers about a dormancy fee for a long period of inactivity


    The regulation of non-trading operations and the policy of KYC/AML Olymp Trade reserves the company’s right to charge a dormancy fee for a long period of inactivity of a user account. You can find the detailed information on this condition in this FAQ.

     

    Will I be charged the inactivity fee?

    If you are an active user of our platform, your account will not be subject to a fee. The fee only applies to the customers who have not made trades on a real account or carried out non-trading operations (deposit or withdrawal activity) for 180 days.

     

    What is the amount of the subscription fee?

    It’s $10 (ten US dollars) a month or the same amount in another currency if the user account’s currency is not the USD.

     

    How often is the subscription fee charged?

    The subscription fee is assessed once a month if the user remains inactive.

     

    Will the subscription fee be charged if my account balance is zero?

    No, it will not.

     

    There are no real funds in my account but I have deposit bonus in it. What will happen to my bonus?

    The deposit bonus will be canceled completely if there are no real funds in the customer’s account or the amount of funds is insufficient to pay the monthly fee.

     

    Which legal document specifies the condition for a subscription fee charge?

    Paragraph 3.5 of the Regulation of non-trading operations and the policy of KYC/AML states the following:

    “If the Company Customer has not carried out any operations in the Trading Terminal, which lead to a change in the Balance of the Customer’s Account for 6 months, the Company reserves the right to charge a subscription fee (commission) for providing access to the Trading Terminal. The amount and procedure for charging subscription fees is determined by the Company at its discretion.” (see the Regulation).

     

    Will my account be subject to the fee if I make just one trade on a real account in 6 months?

    Since you keep your account active for 180 days, there is no reason for charging subscription fees.

     

    How will the subscription fee be charged if I have several accounts?

    If a customer has several accounts, which are all inactive for 180 or more days, only one of them will be charged a subscription fee. The subscription fee will be deducted from the balance on a monthly basis until at least one trade is made on one of the real accounts or one non-trading deposit/withdrawal operation is carried out.

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