Dispute resolution process
We strive to speed up the process of resolving conflict situations between brokers and traders as much as possible, and also to make it more convenient and efficient for both parties. Our goal is to achieve an impartial decision, taking into account the existing rules and standards of fair provision of services in the financial sector.
To simplify the decision-making process, please comply with all requirements. For our part, we guarantee objectivity, which gives you the opportunity to be sure that your interests are under our protection. In cases where the decision was made in favour of the client, we also guarantee that he/she will receive the assigned payment.
The first step a client takes when a conflict arises with a brokerage company should be to contact its representatives. If the issue cannot be resolved directly because the broker does not respond within a reasonable time or its answer is untenable, the client can file an official complaint. This should be done no later than 45 days after the dispute arose.
If the applicant has provided all the necessary information, including documents confirming his/her claims, the Commission will review it within 5 days. At the preliminary evaluation stage, all the data received is studied, its solidity and how fully it describes the current situation are assessed. This is a necessary stage for taking subsequent actions.
At this stage, all the circumstances of the case are carefully examined. If the Commission needs additional documents or any other information, it will contact the applicant with a corresponding request. He/she undertakes to respond to it within 7 days. Fulfilment of these requirements guarantees the most complete consideration of all the circumstances.
If a brokerage company has membership status in Crypto Oversight Authority, it means that it has automatically agreed to comply with all decisions made by the Commission. By filing a complaint, the applicant also expresses consent to this. After the final verdict is issued, the parties have 14 days to comply with its terms. Lack of consent from the applicant will lead to the closure of the complaint.