Rules & Procedures of the IAFT's Legal Department

  1. The IAFT’s specialist services are free for all the Association’s customers.
  2. The IAFT’s Legal Department shall consider only the claims regarding the disputable matters arising from the work with the trading accounts opened through the IAFT’s web-site. All the claims shall be accepted only after the date of confirmation of such the account on the Association’s web-site. The Association shall consider the claims relating exclusively to the work on the brokerage companies’ trading accounts: trading platforms, opening/closing of trading orders, quotes accuracy and quality of services that have a direct relevance to the customers’ trading activity. The Association shall not consider the matters arising from shortfall in profits or foregone benefit, deposition/withdrawal and compensations for moral damage.
  3. A claim to a brokerage company is accepted for consideration within 14 calendar days from the day of its occurrence.
  4. The consideration of a claim begins with the provision of all the materials requested from a customer. In case a customer refuses to cooperate and does not provide all the materials necessary for consideration of this issue within 14 calendar days, the IAFT’s Legal Department reserves the right to decline to consider such the customer’s matter.
  5. The minimum term of consideration is 7 working days.
  6. The maximum term of consideration is 3 months. This period may be extended by 3 months, if it became necessary to review some new details (provided by a customer, by a brokerage company or by the IAFT’s Legal Department) that had not been known at the moment of the customer’s first application.
  7. The IAFT’s Legal Department shall not consider the claims arising from short-received spread returns made by the Association if the partner’s fee was validly canceled by a brokerage company under the terms of the Partnership Agreement concluded between a brokerage company and the IAFT, and under the terms of the offer accepted by a customer.
  8. The appeal against the already considered disputable matter can be lodged only in case of new materials and evidence in this matter, and not later than 1 month from receiving the official response of the IAFT’s lawyer to the customer’s claim.
  9. To ensure confidentiality, the Association’s Legal Department shall not provide information about the claims considered by third parties.

Rules & Procedures of Payouts IAFT’s Compensation Fund

  1. The IAFT’s Compensation Fund was established to make compensations to the Association’s customers for their losses in case a broker fails to fulfill its obligations to traders and violates the Rules and Procedures of work.
  2. The decision on the disbursement from the Compensation Fund shall be taken only upon the review of the matter by the IAFT’s lawyers, as well as after the determination of the unfair practices of a brokerage company and its refusal to help in addressing this matter.
  3. The disbursement from the Compensation Fund is possible for each customer of the Association, in case he/she faced a disputable situation with the IAFT’s partner regarding the trading account opened through the Association’s web-site.
  4. If a brokerage company has been closed down, IAFT can (but does not undertake) make a partial or full compensation of the customer’s funds. IAFT answers for its obligations exclusively within the level of the Compensation Fund.
  5. The compensation amount can be determined only in the conduct of the disputable matter’s review and after the in-depth study of all the materials of each individual case.
  6. In case of a positive decision on the payout from the IAFT’s Compensation Fund, a trader undertakes to provide an application addressed to the IAFT’s director. The applications must contain a claimant’s personal handwritten signature and indicate that he/she accepts the decision and has no complaints against the Association.
  7. The disbursement by the IAFT’s Compensation Fund is made within 7 working days after the decision about such a disbursement has been made, and after all the financial aspects of the issue have been agreed by the parties.
  8. The maximum payout amount supported by the Compensation Fund is USD 5 000.

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