- When do the Dormancy Fees apply to my account?
If for any consecutive period of 180 days, you do not trade on your Client Account then after 180 days (the “Grace Period”) Fortrade will deem the Client Account to be inactive or dormant (“Inactive”).
Account Verification Process - How much are the Dormancy fees?
Once Fortrade has deemed a Client Account to be Inactive, Fortrade will be entitled to charge you an administrative fee of USD $10.00 (or a similar amount in such other currency as Fortrade may determine from time to time) which represents Fortrade’s administrative cost of continuing to operate the Inactive Account (the “Inactive Account Fee”).
Financial Instruments - How will the Dormancy fee be taken?
Fortrade will deduct the Inactive Account Fee from your Client Account balance on the day following the expiration of the Grace Period and then every thirty (30) days thereafter.
For the avoidance of doubt, the Client’s liability or responsibility to pay the Inactive Account Fee will cease as soon as the Client Account balance is zero.Account Verification Process
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