Customer Complaint Dated December 30, 2016

Complaint Matter

Mrs. XXX has lodged his complaint with Financial Commission on the following grounds:

The Client used trading account #XXXXX for trading operations on Forex and CFD market. Having no sufficient knowledge and experience of working on the financial market, the Client used an investment program offered by Broker’s financial consultant.

In accordance with the terms of the investment program, on June 10, 2016, the trading account was deposited by $ 1000 by the Client. After that, the Broker provided the Client with a 100% bonus for a period of 2 months. Broker’s financial consultant was engaged in forming the portfolio (new portfolio each month). Subsequently, as follows from the audio provided by the Broker, the Client provided the financial consultant with the access to his trading account in order to form an investment portfolio of foreign companies securities.

In 4 months after participation in the investment program, the Client’s trading account has undergone a serious drop. In addition, on October 11, 2016, the bonus provided by the Broker was withdrawn. As a result, in order to maintain the investment portfolio and continue trading, the Client has had to replenish the account. The Broker offered its Client to replenish the deposit with another $ 500 and use new bonus. The Client replenished the account with the required amount and received a bonus of $ 598. The Broker also offered to trade without its assistance. As a consequence, the Client decided to terminate his participation in the investment program and started an independent trading on the market.

In a few months of independent trading, the Client has increased its trading account balance up to $8491 and on March 2, 2017, initiated a partial withdrawal of funds from the trading account.

The withdrawal was suspended by thу Broker and after the account audit the Client was given the following response: “Based on the clause 5.8 of the Client Agreement, we refuse to provide you our services thus returning your initial deposit:

5.8. The Company has the right to suspend service provision to the Client at any time, without prior notification of the Client and without disclosing the reasons.

The Client does not agree with the Broker’s decision and considers its actions unlawful. The Client believes that a fair solution in this situation will be to refund all his profits. Considering the fact that the initial deposit of $ 1,500 was returned to the Client earlier, the Client requires Broker to return part of the profit in the amount of $ 5,000 without claiming spent bonus provided by the Broker. As evidence, the Client provided his account trading report, as well as a description of the Broker’s investment program.

For its part, the Broker believes that the Client’s complaint has no grounds based on the clause 4.8. of Client Agreement: “The Client is obliged not to assign his/her rights under the Agreement, not to delegate and/or perform any other act of transfer of authority in compliance with the present Agreement and the relevant Regulations without prior written consent of the Company. If this provision is violated, any such assignment, delegation or transfer of authority will be considered invalid. “As evidence, the Broker provided audio recordings, from which it follows that the Client has given the company’s employees access to his trading account.