1.1 The aim of these Regulations is to describe the set of measures which can be taken to provide warning about and detect violations of financial legislation, combat financial abuses, and outline the procedures for carrying out non-trading operations for Accounts opened in the Client Cabinet with Rann FS Limited.
1.2 This document is publically available and is an integral part of the client agreement.
1.3 Rann FS Limited has the right to amend the terms of these Regulations. Such amendments will take effect on the day notification is given either in written or electronic form, by notification on the Website, or by other means at Rann FS Limited’ discretion.
1.4 In the event of a discrepancy between certain terms of these Regulations and certain terms of the Client Agreement and applicable Regulations, the terms of these Regulations shall take priority. Such a circumstance shall not affect the validity of the remaining terms of the above-listed documents.
1.5 The Client guarantees the legality of the source, ownership, and right to use funds transferred to Rann FS Limited.
1.6 The client acknowledges Rann FS Limited’ right to investigate the suspicious non-trading operations outlined in clause 2 of these Regulations and suspend such operations until the investigation has been completed and the reason for the suspicious operations established.
1.7 Rann FS Limited may request from the Client proof of identity documents or documents pertaining to payments in order to confirm the legality of the source and ownership of disputed funds.
1.8 The Client is informed that if suspicious trading operations are detected, Rann FS Limited has the right to:
1.8.1 Not carry out the suspicious operations;
1.8.2 Institute restrictions for withdrawing funds from the client’s Trading accounts at the discretion of Rann FS Limited;
1.8.3 Return funds previously deposited to the Client’s Trading accounts using any bank details by which deposits had been made to the Account;
1.8.4 Client is notified, that in case of identifying suspicious activities Rann FS Limited shall have a right to charge extra fee for compliance procedures in the amount of 5% of all withdrawals. This sum shall include refunded to the client comissions for deposit and withdrawal.
1.8.5 Terminate contractual relations with the Client.
1.9 These Regulations stipulate a complete refusal to carry out suspicious non-trading operations even to the point of terminating contractual relations with the Client. Such a situation is not grounds for Rann FS Limited to be subject to civil liability for violating the terms of a contract.
2. Signs of suspicious non-trading operations and the criteria for determination them as such
2.1 Rann FS Limited may declare a trading operation suspicious in the following instances:
2.1.1 Abuse of fund transfers without making any trading operations on the accounts (less than 3 lots on each thousand dollars of the withdraw sum or the equivalent);
2.1.2 Confusing or unusual trading operations which have no clear economic purpose or clear legal aim;
2.1.3 Other circumstances which provide grounds to believe that the operations are being performed for the purpose of legalizing funds obtained illegally or financing terrorism;
2.1.4 The Client’s failure to provide identification or the provision of inaccurate information accompanied by an inability to establish contact with the Client using the specified addresses and telephone numbers;
2.1.5 The provision of forged or invalid documents;
2.2 The guidelines for determining suspicious operations are established by subjective evaluation on the part of Rann FS Limited by means of regular analysis of non-trading operations.
2.3 The list of signs of suspicious non-trading operations and the criteria for determining them as such as listed in clause 2.1 of these Regulations is neither complete nor binding. Rann FS Limited may declare an operation suspicious based on the economic aim of the operation and accompanying circumstances as well as through interaction with the Client or the Client’s representative.
2.4 In the event of suspicious non-trading operations having been detected, Rann FS Limited may make a decision concerning future actions with respect to the Client and the Client’s non-trading operations.
2.5 All fund withdrawal and deposit operations made by the Client are confirmed by an entry in the “Payment History” section of the Client Cabinet. If the Client notices an error in an entry for a fund deposit to or withdrawal from the Trading Account, the Client is obligated to file a claim in accordance with clause 8 of these Regulations.
2.6 If the Client notices an error in the Client’s favor, he/she is obligation to inform Rann FS Limited of the mistake as soon as possible at info@rannforex.com or by other means (making sure that the Company has received the notice).
2.7 The Client is required to immediately inform the Company of any changes in the Client’s contact or personal information by making the necessary changes in the Client Cabinet or by using any other of the methods listed in the “Contacts” section of Rann FS Limited’ Website.
3. Transferring funds to the Trading Account
3.1 Rann FS Limited offers the Client its services exclusively by virtue of the funds located on the Client’s Trading Account with Rann FS Limited. Deposits to the Trading Account may be made by transferring funds to Rann FS Limited’ bank accounts and to the accounts of Rann FS Limited’ authorized agents.
3.2 When transferring funds to Rann FS Limited’ accounts, the Client is obligated to take into account the requirements and restrictions provided for by existing legislation and any other legal acts of the countries under the jurisdiction of which the transfer is made.
3.3 Rann FS Limited transfers to the Client’s Trading Account the amount which is deposited by the Client to Rann FS Limited’ bank account. The Client agrees to pay all commissions and other expenses connected with carrying out the method of transfer chosen by the Client.
3.4 The transfer of funds to the Client’s Trading Account is made in the currency of the Trading Account specified for the transfer regardless of which currency is used for the transfer. If the currency of the transfer is different from the currency of the Trading Account, the sum being transferred will be converted into the currency of the Trading Account using Rann FS Limited’ internal exchange rate on the day the payment is posted to Rann FS Limited’ account.
3.5 The currency in which Rann FS Limited accepts deposits for transfers to the Trading Account is indicated in the Comparison Table of Deposit/Withdrawal Options for each Trading Account currency and deposit method.
3.6 The Client is informed that the size of commissions, Rann FS Limited’ internal exchange rate and other expenses for each deposit method are listed in the Client Cabinet as well as in the Comparison Table of Deposit/Withdrawal Options and may be changed by Rann FS Limited.
3.7 Rann FS Limited reserves the right to establish restrictions for the minimum and maximum allowable deposit for each deposit method and transfer currency. Existing restrictions are listed in the Comparison Table of Deposit/Withdrawal Options and may be changed by Rann FS Limited.
3.8 Rann FS Limited is prohibited from deducting any additional commissions on the Client’s transfer for deposit to the Trading Account beyond those commissions and other expenses specified in these Provisions.
3.9 A fund deposit to the Client’s Trading Account is made by a Request for deposit (hereinafter “Request”) which is generated automatically each time a deposit invoice is made. The Request is considered accepted by Rann FS Limited if it is displayed in the “Payment History” section of the Client Cabinet, as well as in Rann FS Limited’ internal client request records.
3.10 If the Client does not have the opportunity to send a Request through the Client Cabinet, the Client must contact Rann FS Limited in order to resolve the matter on an individual basis.
3.11 A fund deposit to the Client’s Trading Account is fulfilled within 1 (one) business day, no later than the end of the next business day after the funds are posted to Rann FS Limited’ bank accounts, or from the moment a “Transfer funds between accounts” order is received if the transfer is being made from another of the Client’s Trading Accounts with the Company.
3.12 If funds sent by wire transfer are not deposited to the Client’s Trading Account within 7 (seven) business days, the Client has the right to request that Rann FS Limited conduct an inquiry into the transaction. The Client accepts that additional expenses may be incurred as a result of the inquiry which the Client is obligated to pay either by transferring the necessary sum to Rann FS Limited’ account or by a deduction of the sum from the Trading Account (the sum may be withheld without notice).
3.13 In order to conduct an inquiry into the Client’s wire transfer, the Client must make a request in accordance with clause 8 below and furnish Rann FS Limited a copy of the swift to confirm that a foreign currency transfer has been made.
3.14 If funds sent by electronic fund transfer or by transfer from a credit/debit card are not posted to the Client’s Trading Account within 2 (two) business days, the Client may request that Rann FS Limited conduct an inquiry into the transaction. The Client accepts that additional expenses may be incurred as a result of the inquiry which the Client is obligated to pay either by transferring the necessary sum to Rann FS Limited’ account or by a deduction of the sum from the Trading Account (the sum may be withheld without notice).
3.15 In order to conduct an inquiry into the Client’s electronic fund transfer or transfer using credit/debit card, the Client must make a request in accordance with clause 8 below and also furnish Rann FS Limited the following:
• For an electronic fund transfer: a screenshot of the transfer or notification of payment from the payment system which confirms that a transfer has been made to the Trading Account;
• For a transfer made by credit/debit card: a copy of an identity-confirming document and a copy of the card.
3.16 Rann FS Limited is not responsible for the time taken for funds to be transferred or for any technical malfunctions which may occur if the fault for such circumstances lies not with Rann FS Limited but with the payment system or authorized agent of Rann FS Limited.
4. Methods for making deposits to the Client’s Trading Account
4.1 Currency wire transfer.
4.1.1 The Client may deposit funds to the Client’s Trading Account by means of a currency wire transfer at any time if Rann FS Limited permits such a deposit method at the moment the transfer is being made.
4.1.2 The Client may make a currency wire transfer to the Rann FS Limited bank account specified in the Client Cabinet only from the Client’s own personal bank account.
4.1.3 Before carrying out a currency wire transfer, the Client must fill out an invoice in the Client Cabinet. When preparing the payment order for a currency wire transfer, the Client must correctly indicate Rann FS Limited’ bank details, the purpose of payment, and the time frame for payment.
4.1.4 Rann FS Limited has the right to refuse to transfer funds to the Client’s Trading Account if the payment was received from a third party or the purpose of payment does not match that which was specified on the invoice. In the above-described instance, Rann FS Limited shall return the funds to the sender’s account. The Client will be responsible for all expenses incurred in returning the funds.
4.2 Transfer using an electronic fund transfer.
4.2.1 Deposits may be made to the Client’s Trading Account by means of an electronic fund transfer if such a deposit method is allowed in the Client Cabinet at the moment the transfer is being made.
4.2.2 The Client may carry out an electronic fund transfer to Rann FS Limited’ account or the accounts of Rann FS Limited’ authorized agents only from the Client’s own personal electronic account.
4.3 Transfer using a credit/debit card
4.3.1 Deposits may be made by means of a transfer by credit/debit card, if both the deposit method and card type are indicated in the Client Cabinet at the moment the transfer is being made.
4.3.2 Deposits by credit/debit cards of international payment systems through the Client Cabinet are processed by official partner.
4.3.3 The Client may only carry out a transfer using a credit/debit card issued in the Client’s name. Rann FS Limited does not accept transfers from the cards of third parties.
4.3.4 Rann FS Limited reserves the right to refuse to transfer funds deposited to the Trading Account if the transfer was received from a third party. In such a case, Rann FS Limited shall return the funds to the sender. The Client is responsible for all expenses connected with returning the funds.
4.3.5 The Company has the right to ask the Client to provide an ID confirmation document when a credit/debit card is used for deposit. In some cases other documents might be required.
4.3.6 The Client understands and agrees that Rann FS Limited is not responsible for the time taken for funds to be returned or for technical malfunctions which could arise during the transfer if the fault for such circumstances lies not with Rann FS Limited, but with Rann FS Limited’ authorized agent’s processing center or the international payment system.
4.3.7 After the deposit amount by a credit/debit card was transferred to the Clients account in the Company, the Company’s obligations as to transferring the amount of the payment is considered to be fulfilled in full and cannot be disputed.
4.3.8 In exceptional cases the Company may return the payment from a credit/debit card. In this case, the payment is returned to the same credit/debit card that was used to make the payment.
5. Withdrawing funds from the Client’s Trading Account
5.1 The Client has the right to partially or fully withdraw or transfer the funds located on the Client’s Trading Accounts by making a “Request to withdraw funds from the Trading Account” or “Request to transfer funds between accounts,” with the Client’s instruction to withdraw funds from the Client’s Account or transfer funds to another of the Client’s Trading Accounts opened with the Company, in accordance with the following terms:
5.1.1 Rann FS Limited executes Requests to withdraw funds from the Client’s Trading Account only within the free margin on the Trading Account at the moment the Request is executed. If the sum requested by the Client (including commissions and other expenses stipulated by this Agreement) is greater than the amount of free margin on the Client’s Trading Account, Rann FS Limited has the right to reject the Request with an accompanying explanation;
5.1.2 The Client’s instructions for a fund withdrawal from the Trading Account should conform to the requirements of, and take into account all restrictions established by these Regulations, and other documents executed between the Client and Rann FS Limited, including any restrictions indicated in the Deposit/Withdrawal section of the site, as well as restrictions established by applicable laws or other legal acts of the countries under the jurisdiction of which the transfer is made.
5.2 A “Request to withdraw funds” by means of a transfer of funds to the Client’s External Account may be executed by an authorized agent of Rann FS Limited. Rann FS Limited is not responsible for delays in processing the withdrawal caused by payment systems or authorized agents.
5.3 The Client makes “Requests to withdraw funds” or “Requests to transfer funds between accounts” in a particular currency. If the currency of the Account differs from the currency of the transfer, the sum being transferred is converted by the Company into the currency of the transfer using the exchange rates published in the Client Cabinet at the moment the funds are withdrawn from the Client’s Trading Account. The currency in which Rann FS Limited or authorized agents make transfers to the Client’s external account is listed in the Comparison Table of Deposit/Withdrawal Options for each withdrawal method.
5.4 The current Exchange Rate for conversions, the size of commissions, and other expenses for each withdrawal method are published in the Client Cabinet on the Company’s site and may be changed by Rann FS Limited at any point in time.
5.5 Rann FS Limited reserves the right to institute minimum and maximum allowable withdrawal restrictions depending on the method of withdrawal. These restrictions are published in the Comparison Table of Deposit/Withdrawal Options and may be changed by Rann FS Limited at any point in time.
5.6 The Client understands and agrees that the Client is responsible for all expenses connected with the chosen transfer method.
5.7 Rann FS Limited is prohibited from deducting any additional commissions from the Client’s transfer sum when making a deposit to the Trading Account beyond those commissions and other expenses specified in this Agreement.
5.8 A withdrawal of funds from the Trading Account is executed when Rann FS Limited receives a “Request to withdraw funds” or a “Request to transfer funds between accounts.
5.9 A Request is considered accepted by Rann FS Limited if it is issued through the Client Cabinet and displayed both in the “Payment History” section of the Client Cabinet, as well as in Rann FS Limited’ internal client request records.
5.10 Rann FS Limited does not accept Requests issued using any method other than the method described in clause 5.9.
5.11 A withdrawal of funds from the Trading Account is fulfilled within 1 (one) business day, no later than the end of the next business day after the “Request to withdraw funds” is received.
5.12 If funds sent by wire transfer are not posted to the Client’s External Account within 7 (seven) business days, the Client has the right to request Rann FS Limited conduct an inquiry into the transaction.
5.13 If funds sent to the Client’s credit/debit card are not posted within 10 (ten) business days, the Client may request that Rann FS Limited conduct an inquiry into the transfer.
5.14 If funds sent by electronic fund transfer are not posted to the Client’s external account within 2 (two) business days, the Client may request that Rann FS Limited conduct an inquiry into the transfer.
5.15 The Client understands and agrees that an inquiry and request of documents may incur commission expenses which shall be paid by the Client. The method of payment is determined on an individual basis and may be carried out by means of a transfer of the necessary sum to the Trading Account as well as a deduction of the sum from the Client’s Trading Account (the sum may be deducted without notice).
5.16 If an employee of Rann FS Limited makes a mistake while sending funds such that the funds are not posted to the Client’s external account, the commission expenses incurred as a result of resolving this matter shall be paid by Rann FS Limited.
5.17 If the Client makes a mistake while filling out a “Request to withdraw funds” such that the funds are not posted to the Client’s external account, the commission expenses incurred as a result of resolving this matter shall be paid by the Client.
5.18 If debt arises on the Client’s Trading Account, Rann FS Limited reserves the right to extinguish the debt by setting off the Client’s Trading Accounts which have been opened within one or several Client Cabinets if there are grounds to believe that there is a connection between the Cabinets.
5.19 Rann FS Limited reserves the right to only withdraw the Client’s funds to the Client’s personal bank account under the condition that the Client provides identification.
5.20 It is assumed that the Client will withdraw funds from the Client’s Trading Account using the same method with which the deposit was made to the Client’s Trading Account. If the Client intends on withdrawing funds from the Trading Account using a different method from the one used to make the deposit to the Client’s Trading Account, Rann FS Limited reserves the right to refuse to execute such an operation or increase the processing time for the withdrawal.
5.21 Rann FS Limited has the right to increase the processing time for the withdrawal of funds from the Client’s Trading Account in situations which require additional time (for example, the withdrawal of large sums, the necessity of making a deposit to Rann FS Limited’ account with an Authorized Agent, if the transaction is declared suspicious, until the resolution of a disputed situation with the Client involving trading and non-trading operations, or if it was impossible to contact the Client in order to clarify a disputed situation involving trading and non-trading operations).
5.22 The Client understands and agrees that Rann FS Limited does not bear responsibility for mistakes made by the Client in indicating the bank details for a withdrawal of funds, for the processing time of the transfer, nor for technical malfunctions which occurred during the transfer through no fault of Rann FS Limited.
6. Methods of withdrawing funds from the Client's Trading Account
6.1 Currency wire transfer
6.1.1 The Client may send a “Request to withdraw funds” by means of currency wire transfer at any time if such a method is listed in the Client Cabinet.
6.1.2 The Client can make a “Request to withdraw funds” only to a bank account in the Client’s name. Rann FS Limited will not process Requests for withdrawals to a bank account belonging to a third party.
6.1.3 If the above terms of clause 6.1. have been fulfilled, Rann FS Limited is obligated to send the funds to the Client’s bank account in accordance with the bank details specified in the “Request to withdraw funds.
6.2 Transfer by credit/debit card
6.2.1 The Client may send a “Request to withdraw funds” by means of a credit/debit card at any time if such a method is listed in the Client Cabinet.
6.2.2 The Client may make a “Request to withdraw funds” only to the Client’s own credit/debit card. Rann FS Limited will not process Requests for withdrawals to a credit/debit card belonging to a third party.
6.2.3 Rann FS Limited is obligated to send the funds to the Client’s credit/debit card in accordance with the bank details specified in the “Request to withdraw funds”.
6.2.4 If when withdrawing funds to a credit/debit card, the Client indicated an incorrect expiration date or incorrect/non-existent cardholder, Rann FS Limited shall reject the Request with an accompanying explanation.
6.2.5 The Client has the right to withdraw the funds to the same debit/credit card that was used to deposit the funds. Total withdrawal amount may not be larger than the total deposit amount. The exceeding amount can be withdrawn to a Client’s bank account or by other means by agreement with Rann FS Limited.
6.2.6 Return withdrawal are performed by returning deposit transaction starting with the earliest ones. For example, if the Client had 10 transactions by 100 each and wants to withdraw 950, he will receive 9 transactions by 100 and 1 by 50.
6.2.7 Rann FS Limited has the right to refuse to withdraw to a credit/debit card. In this case, the Client can withdraw funds to a personal bank account or by other means by agreement with Rann FS Limited.
6.3 Electronic fund transfer
6.3.1 The Client may send a “Request to withdraw funds” by means of an electronic fund transfer at any time if such a method is listed in the Client Cabinet.
6.3.2 The Client may issue an “Order to withdraw funds” only to the Client’s own electronic account.
6.3.3 Rann FS Limited is obligated to send the funds to the Client’s electronic account in accordance with the bank details specified in the “Request to withdraw funds”.
6.4 Fund transfer between account
6.4.1 The Client may send a “Request to transfer funds between accounts” at any time if the Company offers such a method at the moment of the transfer.
6.4.2 The Client may send a “Request to transfer funds between accounts” in order to transfer funds to another account registered in the Client’s name. Rann FS Limited will not process “Requests to transfer funds between accounts” to the accounts of third parties.
6.4.3 If when processing a transfer between accounts, a Rann FS Limited employee makes a mistake which leads to the funds being posted to the wrong account, the funds will be returned to the Client at Rann FS Limited’ expense.
6.4.4 If when filling out a “Request to transfer funds between accounts” the Client makes a mistake in specifying the details of the account which leads to the funds being posted to the wrong account, the sum indicated in the Request will not be returned to the Client.
7. Procedure for using the Client Cabinet
7.1 The Client agrees with all requirements laid out in this clause for using the Client Cabinet.
7.2 When registering on Rann FS Limited’ Website, the Client is obligated to furnish correct and accurate personal information in accordance with the requirements of the Client registration form.
7.3 After successfully registering on Rann FS Limited’ Website, a Client Cabinet is opened for the Client for the purpose of making advance payments for Rann FS Limited’ services.
7.4 The Client is obligated to immediately inform Rann FS Limited of any changes in the Client’s personal or contact information.
7.5 For the purposes of identifying the Client, Rann FS Limited has the right to request from the Client at any time following the Client’s registration an identity-confirming document, confirmation of registered address and/or current place of residence, a document concerning education, and confirmation of the source of the Client’s income. Rann FS Limited reserves the right to suspend non-trading operations on the Client’s Trading Account if it has been revealed that the Client’s personal data are incorrect or inaccurate or if the Client did not furnish the requested documents.
7.6 A “Request to deposit funds” and a “Request to withdraw funds” made through the Client Cabinet may be rejected by a Rann FS Limited employee, indicating the reason for the rejection.
7.7 The Client Cabinet is protected by a password. The Client bears full responsibility for protecting the password from unauthorized access by third parties. Rann FS Limited is not responsible for any losses the client may suffer as a result of the password being stolen, lost, or disclosed to third parties.
8. Procedure for carrying out inquiries into fund transfers and resolving disputes concerning non-trading operations
8.1 If a disputed situation concerning non-trading operations arises, the Client has the right to file a claim with Rann FS Limited or send a request for an inquiry into the transfer. Claims and requests are accepted within 10 (ten) business days from the moment the disputed situation concerning non-trading operations arises.
8.2 A claim must be made in writing and sent by the Client to the Company at info@rannforex.com. The claim must contain the number of the Trading Account and the nature of the claim. The claim must not contain abusive or offensive language or an emotionally charged description of the situation, otherwise it may be rejected.
8.3 The time of the entry in the payment history section in the Client Cabinet should be considered the time at which the disputed situation arose.
8.4 In order to review the claim, Rann FS Limited has the right to request additional documents from the Client.
8.5 Rann FS Limited has the right to reject a claim if clause 8 of these Regulations is not adhered to.
9. Legalization of income generated by illicit means
9.1 Rann FS Limited cooperates in the fight against money laundering with Law Enforcement Agencies and all International Organizations and Institutions and takes all necessary measures to combat all aspects of such activity. Rann FS Limited will impede any attempt to legalize illicitly obtained funds. Rann FS Limited reserves the right to refuse to process any payment or payment request and cancel any transaction if Rann FS Limited doubts the legality of such transactions.
10. Conflict of interest
10.1 Rann FS Limited is obligated to take all reasonable measures to uncover where there may arise a conflict of interest between Rann FS Limited, its employees, relevant third parties, and the Client.
10.2 If Rann FS Limited discovers a conflict of interest, Rann FS Limited is obligated to prevent any of the involved parties from abusing the situation.
11. Manifest Error
11.1 A manifest error is the carrying out of the Client’s non-trading operations in error. The reasons for such errors can be the following: human factor, technical malfunction, other reasons.
11.2 Rann FS Limited has the right to cancel or adjust any of the Client’s non-trading operations if there are grounds to believe that a manifest error was committed while carrying out these operations.
12. Inactivity fee
12.1 If there is no trading activity for more than half a year, an inactivity fee of $5 will be charged from the account on a monthly basis. If the client decides to return to trading, the company is ready to return all funds back to the account n the form of a non-refundable credit.
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