Additional protection up to 100,000 Euros
Details
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Additional protection up to 100,000 Euros
DetailsThe Financial Services Control provides additional protection for traders through the Compensation reserve
A client has the right to file a complaint within 45 days of the incident but must first address the issue directly with their broker.
- As per The Financial Services Control’s regulations, the broker must acknowledge the complaint within 5 days and issue a formal response within 14 days.
- The complaint may be escalated to The Financial Services Control only if the client receives no response or finds the response unsatisfactory.
The Financial Services Control will assess whether the complaint falls under its jurisdiction within 5 days of receipt.
- The Committee Head will contact the client and the Partner Broker to request the necessary information.
- At this stage, the possibility of resolving the complaint informally is also considered.
- If informal resolution is not possible, the complaint proceeds to the Trader Rights Protection Committee.
The Committee reviews the complaint based on the information collected during the initial stage.
- If additional details are needed, both parties must provide them within 7 days of the request.
The Committee’s decisions are binding for Partner brokers. For clients, they become binding only upon written consent.
- If the client accepts the decision, they must confirm in writing within 14 days. If no confirmation is received, the complaint is closed.
- The Partner Broker must comply with the decision within 28 days.
- If the decision favors the Partner, the client must submit a written withdrawal within 7 days, after which the case is considered closed.
Useful Links.
The Compensation reserve, provided by The Financial Services Control, offers added protection — covering eligible claims up to €100,000 per client.
Any client of a partner broker is eligible to submit a complaint. All cases are reviewed by the Trader Protection committee.
The Trader protection committee reviews all submitted materials, evaluates the case, and issues a formal decision.
The process is transparent and user-friendly, with clear steps from submission to resolution, ensuring accessibility for all parties involved.
Our services are completely free for traders.
