Policies & Procedures

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Policies & Procedures

Privacy Policy

Your internet privacy and trust is of crucial importance to us and the success of our business. We collect information about our users and here we’ll outline the type of information we gather and what we do with it. You’ll also be able to see how you can modify any information you entrust to us. Please note that this policy only applies to our website Elitesvaults.com. By visiting this webpage you are agreeing to the collection of personal data and use of cookies.

The information collected

When you sign up for a Demo or Live account with us, the following information about you (Your Data) will be collected and stored for administrative, service related and/or legal purposes:

Personal information, such as names, addresses, personal registration number and e-mail addresses etc (Personal Information)
Financial information (Financial Information) for credit assessment
Website traffic pattern information and IP addresses

Your Data is stored and kept confidential according to the legislation on the protection of personal data, and the processing thereof, applicable in the jurisdiction where Elitesvaults is located, as further explained below under “Disclosure of Personal Data”.

Use of cookies

We use cookies to collect information. A cookie is a small data file that a website stores on your computer’s hard disk for the purpose of keeping records when you visit the website. Cookies allow us to improve your comfort of use, for example, by remembering your passwords and viewing preferences, thus allowing you to visit various “member-only” parts of the website without re-registering. Furthermore, cookies are used by us to measure activity on the website and make improvements and updates based on which areas are popular and which are not.

We do not use cookies to retrieve information not originally sent in a cookie. We do not use information transferred through cookies for any direct promotional or marketing purposes without your consent.

How we use the collected information

We collect both the personal and aggregated information for multiple purposes.

The information is used:

To improve the content of the website
To customise the content and/or the layout of the website for each individual user
To notify users about updates to the website
To send out newsletters or information about other opportunities we believe will be of interest to you. We will only send this to you if you have indicated that you wish to receive such information.

Personal Information is collected when our users provide information to us upon registering for membership, or when applying for an account. We limit the collection of Personal Information to what is necessary to administer our business and provide you with a superior service.

Traffic pattern information includes information on which web pages our users access or visit, and how many users log into our websites on a daily basis. This kind of information is only used in its aggregated form, which means that the individual user will not be recognisable.

We may also use the information we gather to inform you of new products or services available or under consideration, technical issues, customer satisfaction surveys or account updates and related purposes.

Your e-mail address may be used in relation to our products and services (including any marketing campaigns related to these products or services). If you do not wish to receive such marketing material please contact us via Live Chat or open a ticket enquiry.

Disclosure of personal data

We are obliged by law to treat your data as confidential and we may not pass on or use any of your data without valid legal grounds.

All of your data benefits from this full protection and will only be disclosed to third parties, such as administrative or judicial authorities, if we are compelled to do so pursuant to the applicable law, or if you have given your written consent to such a disclosure. You may revoke such consent or modify its extent at any time.

Without prejudice to the above, we can disclose the following information:

General customer data, such as name, address and personal registration number, to companies carrying out administrative tasks for us.
General customer data about corporate customers to financial institutions subject to professional secrecy, for the purpose of marketing and advisory services.

Card refund policy

The refunds have to be made in the same currency as the initial deposit.
The client can’t request the refund in an amount greater than the deposit amount unless the relevant card processor and client bank allow such transactions. In other words, the total amount of the refund can’t be higher than the total sum of the deposit.
Third-party payments are not allowed. Amounts deposited from a third-party card will be refunded to the same card once Elitesvaults has been provided with the card holder’s ID documents.
The client is entitled to use more than one card as long as they all belong to the client; however, p.2 will still be applicable to each card separately.
To comply with the provision contained in p.2, one payment request can sometimes be processed in several transactions.
In the event of an expired card used to deposit, or it is changed, refunds are technically not possible and in such cases Elitesvaults is entitled to decline the requested transaction applying the provision set forth in p.1 of our Refund Policy.
The fee charged will depend on the card processor available for each country.
To process a withdrawal, Elitesvaults is entitled to request additional documentation related to the payment, if necessary, to comply with legal requirements and internal procedures.

Deposit and withdrawal policy

Payment methods: Clients can deposit and withdraw using only the payment methods available in the ‘Deposit and Withdrawal’ sections of their Backoffice. As a general rule of thumb, the client should use the same payment method used to deposit for withdrawals. In case this is not possible, Elitesvaults Limited will allow the client to use another payment method, as long as the client provides proof that the account registered with this new payment method is in their name. In such cases, the deposited and withdrawn currency should match as well. In case a payment provider used by Elitesvaults Limited stops operating for some time, Elitesvaults Limited has the right to postpone the withdrawal until the services are restored. When the services of a payment provider have been permanently discontinued, Elitesvaults Limited shall offer alternative options to comply with the abovementioned requirements (preferably the same currency and account holder).
Payment account: As a general rule of thumb, the client should use the same payment account he used to deposit for withdrawals. In case this is not possible, Elitesvaults Limited may allow the client to use another payment account, as long as the client provides proof that the new payment account is owned by them.
Currency: the currencies to deposit or withdraw are only those available in the ‘Deposits and Withdrawals’ sections and supported by each payment provider.

Settlements in unsupported currencies may be made at the sole discretion of Elitesvaults Limited on a case-by-case basis.

Except where justified by special circumstances, clients can’t withdraw in a currency different than the one they used to deposit.

The client understands that cases where a deposit or withdrawal is made in currencies other than the currencies available in the ‘Deposits and Withdrawals’ sections of the company´s website or other than the currency of the account to be (re)funded, Elitesvaults Limited may need to undertake the conversion of currencies. Under such circumstances, Elitesvaults Limited shall return or deposit the funds net of any conversion fees or other charges incurred by Elitesvaults Limited.

When processing a withdrawal request, Elitesvaults Limited shall use its internal currency rates adopted from the currency provider serving Elitesvaults Limited on the date of the withdrawal.
Third-party payments: Third-party payments are strictly forbidden. This is why Elitesvaults Limited has the right to cancel the client’s deposit or withdrawal if there is an attempt to use a third-party account. In the event of a deposit coming from a third party account, funds will be transferred back to the same account details they came from. If this occurs, the client shall be charged all costs for the transfer.
The client bears full responsibility for the adequacy of the details set out in their deposit or withdrawal application.
Elitesvaults Limited is entitled to request all additional details, clarifications or documents necessary to process the transfers correctly or to comply with the applicable regulations, KYC and AML procedures. If, at any time, Elitesvaults Limited is not satisfied with the documentation provided by the client in relation to a withdrawal or deposit, Elitesvaults Limited reserves the right to reverse to the remitter any part of the funds net of any transfer fees or other charges incurred by Elitesvaults Limited or to cancel or delay the processing of the payment until the necessary information is provided.
Processing timeframe: The client agrees that the processing of refund requests can take up to 24 hours on business days (weekends closed) since the request is confirmed unless additional details, clarifications or documents are necessary. In such cases, the 24-hour time limit begins with the receipt of the requested information. The client accepts that the processing of a refund request under the current policy means that Elitesvaults Limited will submit the refund request to its payment provider. Elitesvaults Limited bears no responsibility for how long it can take for the respective payment provider or its partners to execute the request.
Fees: Elitesvaults Limited has the right to charge fees for deposits and withdrawals whose amount is calculated based on costs paid by the company when fulfilling the client’s withdrawal request. Information on the fees charged can be found on the company’s website and in the client’s Backoffice. In case of divergence, the information posted in the client’s Backoffice shall prevail. Elitesvaults Limited has the right, but not the obligation, to charge the client with an additional fee (if applied) when the client uses a different payment system to withdraw funds.
When Elitesvaults Limited services have been properly provided, the client agrees not to request or demand a refund or chargeback from their bank or credit card provider at any time during or after the use of Elitesvaults Limited services. Any attempt to do so may be considered a breach of the Client Agreement, and the client may be held liable. If Elitesvaults Limited, however, receives a chargeback for any transaction, we reserve the right to hold the Client’s current balance with us and send the funds back after all charges related to the chargeback have been deducted.
If there is enough reason to suspect that the origins of the client’s funds and their entire activities are contrary to our Anti-Money Laundering Manual (AML) or any other internal policies or in case of any fraudulent/illegal act or activity with direct or indirect illegal intention, Elitesvaults Limited reserves the unilateral right to deny fund deposits or withdrawals to and from client accounts, freeze assets, suspend any trading activity on accounts with no prior notification, cancel the demand for deposits or withdrawals, hold the funds or refund received funds at its own discretion. Clients shall be notified that Elitesvaults Limited is obliged to inform the respective government institutions concerning each AML policy conflict and disclose the client’s data. In such cases, the client must compensate the direct and indirect losses and damages which the company or third parties have suffered as a result of client’s actions and Elitesvaults Limited is enabled to deduct the respective amounts from the client’s funds.
In cases of abuse of the trading system or any activities contrary to the usual purpose of the service or without good faith, Elitesvaults Limited has the right to
- Immediately and without prior notification close the client’s positions
- Delay the client’s withdrawals until the damage is calculated
- Block the client’s profile
- And deduct the profit gained as a result of the fraudulent trading.
If a Client’s trading account with Elitesvaults is inactive (which means an account wherein no trades have been carried out) for one (1) year and the balance of this trading account is less than USD 5 (or equivalent in another currency), Elitesvaults is entitled, at its own discretion, to close the trading account and terminate the Client Agreement with the Client upon expiration of one year’s inactivity on the trading account.
If Elitesvaults decides to close the trading account and terminate the Client Agreement under the circumstances presented under p. 12, Elitesvaults will specify the termination date (by email) one month before the termination. In this case, Elitesvaults may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of Elitesvaults Limited.
If a Client’s trading account with Elitesvaults is inactive (which means an account wherein no trades have been carried out) for five (5) years and the balance of this trading account is more than USD 5 (or equivalent in another currency), Elitesvaults is entitled, at its own discretion, to close the trading account and terminate the Client agreement with the Client upon expiration of five years’ inactivity on the trading account.
If Elitesvaults decides to close the trading account and terminate the Client Agreement under the circumstances presented under p. 14, Elitesvaults will specify the termination date (by email) one month before the termination. In this case, Elitesvaults may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of Elitesvaults Limited.
If Elitesvaults establishes that a Client is a citizen or resident of a country not on the list of eligible countries in accordance with our money laundering and other internal rules, Elitesvaults is entitled, at its own discretion, to close the trading account and terminate the relationship with the Client.
If Elitesvaults decides to close a trading account and terminate the Client Agreement under the circumstances presented under p. 16, Elitesvaults will specify the termination date (by email) one week before the termination. In this case, Elitesvaults may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of Elitesvaults Limited.

AML rules

Elitesvaults Limited recognises the important role of the financial sector for the forestalling and effective prevention of money laundering and terrorist financing activities.

Money laundering is defined very widely and includes all forms of handling or possessing criminal property, including possessing the proceeds of one’s crime and facilitating any handling or possession of criminal property. Criminal property may take any form, including money, securities, tangible and intangible property.

Elitesvaults Limited is bound by the Money Laundering and Terrorism (Prevention) Act 2008 of Belize (the Law), which places strong administrative requirements on all financial institutions.

The law obliges the company to introduce and comply with The Anti-Money Laundering and prevention of terrorism financing manual (the AML Manual), which, together with all related internal policies and rules is the main pillar of the internal control systems established to monitor compliance with the procedures introduced by Elitesvaults Limited for the prevention and detection of money laundering.

The compliance function is responsible for confirming adherence to various anti-money laundering procedures through specifically designed audits and other functional audits.

Our AML Manual binds the members of the Board of Directors, Executives, Heads and Managers of the Company divisions, staff members, and any other person involved in the operations of the services offered. The procedures and recommendation contained in the AML Manual and the law must be followed strictly by the Company’s personnel. Employees are aware of the seriousness of money laundering, and terrorist financing activities, their statutory obligations, and are encouraged to co-operate and report suspicious transactions promptly.

Our AML Manual and the law require Elitesvaults Limited to establish and maintain specific policies and procedures to protect against its clients‘, its business and the financial system, being used for money laundering. These procedures are designed to achieve two main purposes:

To facilitate the recognition and reporting of suspicious transactions;
To ensure through the strict implementation of the ‘know-your-customer’ principle and the maintenance of adequate record-keeping procedures, should a customer come under investigation, that the financial institution can provide its part of the audit trail.

The AML Manual and all internal procedures provide the guidelines that should be followed throughout the Company to assist in the detection and prevention of money laundering and terrorist financing activities in accordance with the law.

All company employees should execute their duties as per the guidelines set out in the AML Manual and the relevant company internal regulations.

The company’s AML regulations are subject to an ongoing review and update by the Compliance Department to ensure full compliance with current legislation, regulations and the International Financial Services Commission directives.

Withdrawal Terms and Policy

At Hilo Assets, we strive to provide our clients with exceptional service and ensure transparency in all our dealings. As part of our commitment to maintaining a fair and efficient process, we have implemented a commission fee policy that requires payment before any withdrawal can be processed.

The commission fee is a standard charge that is applied to cover the costs associated with executing trades, managing accounts, and providing ongoing support and guidance to our clients. This fee is calculated based on a percentage of the total withdrawal amount.

We understand that commission fees may raise questions or concerns, and we are here to address them. Our team is available to provide detailed explanations and assist you in understanding the breakdown of the commission fee calculation. We believe in complete transparency and want our clients to have a clear understanding of the charges they may incur.

To ensure a smooth and hassle-free withdrawal process, we kindly request that clients settle the commission fee prior to initiating a withdrawal request. This helps us maintain the integrity of our operations and ensures that all transactions are processed efficiently.

We value our clients' trust and strive to provide them with the best possible experience. If you have any further questions or require additional information regarding our commission fee policy, please do not hesitate to reach out to our dedicated customer support team. We are available to assist you and address any concerns you may have.

Thank you for your understanding and cooperation. We appreciate your continued support and look forward to serving you at Hilo Assets.