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PROCEDURE FOR RESOLUTION OF CLIENT COMPLAINTS

Valid as of 20.07.2021


Admiral Markets Cyprus Ltd is incorporated (Certificate of Incorporation No. HE 310328) in the Republic of Cyprus through the Department of the Registrar of Companies and Official Receiver (http://www.mcit.gov.cy). Admiral Markets Cyprus Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (http://www.cysec.gov.cy) (License No. 201/13) and operates under the Markets in Financial Instruments Directive II (EU Directive 2014/65/EU).

1. Procedure

1.1. Clients shall file complaints in an electronic format, by sending a respective e-mail compliance@admiralmarkets.com.cy

1.2. Admiral Markets Cyprus Ltd may accept complaints in other formats if the requirement of the specified format is not practical or reasonable under the circumstances.

1.3. If a complaint is filed in any format other than the electronic format, the client shall be notified of the format requirements and the client shall be asked to submit the complaint in electronic format, taking into account the principle of reasonableness.

1.4. The client shall provide the following information in the complaint:

  • the client’s name;
  • contact information;
  • account identification number;
  • the time of the circumstances constituting the basis of the complaint;
  • identification numbers of relevant orders and positions;
  • a description of the claimed violation;
  • a clear claim and, if possible, documents or copies of documents supporting the claim.

1.5. At the client’s request, Admiral Markets Cyprus Ltd shall provide reasonable assistance for the formalization of the complaint in the form of general guidelines.

1.6. Admiral Markets Cyprus Ltd shall have the right to refrain from reviewing a complaint that does not comply with the format requirements.

1.7. Complaints shall be filed within five (5) business days of the occurrence of the circumstances which constitute the basis of the complaint. Admiral Markets Cyprus Ltd has the right to refrain from reviewing a complaint that was filed after the aforementioned term.

1.8. Resolution of a complaint begins with the filing of the complaint by a client and ends with a response from Admiral Markets Cyprus Ltd to the client or with a compromise agreement.

1.9. Immediately after filing a complaint, Admiral Markets Cyprus Ltd shall inform the client whether in writing or orally, or by other agreed means of communication, of the complaint procedure and its deadlines, as well as in the case of refusal to hear the complaint, the reasoning behind it.

1.10. Complaints of natural persons and legal entities shall be resolved within (14) business days from receipt of the complaint by Admiral Markets Cyprus Ltd.

1.11. If resolving is delayed due to the complicated nature of the complaint or clarification of further circumstances, the client shall be notified thereof in a format which can be reproduced in writing, informing the client of the new term for response to the complaint.

1.12. Generally, Admiral Markets Cyprus Ltd shall provide the client with a written reply to a written complaint, unless the client’s complaint is answered orally, and there is reason to assume that the client has no need for a written answer. Admiral Markets Cyprus Ltd may provide the answer to the client in any of the other agreed means of communication in an agreed format.

1.13. The client has the right to refer the complaint to the financial ombudsman of the Republic of Cyprus within four (4) months from the date of the final response. The complaints handling procedure is available on the financial ombudsman’s website: http://www.financialombudsman.gov.cy/forc/forc.nsf/index_en/index_en?OpenDocument.