Cypriot brokers : How to complain (short)



If you have withdrawal issues or other problems with brokers regulated in Cyprus, you have to complain step by step

How to complain:

  • First of all, request the withdrawal of all funds and complain to the broker itself (Compliance department). Save a copy of the complaint. You must receive a confirmation with a reference number within 5 days. If not, please ask for confirmation and reference number again. (You can refer to the CySEC Circular 100 issued on December 7, 2015)
  • Then,  complain to the CySEC (online complaint).
  • If you live in Europe You can complain to the European Consumer Centre of your country and use the Online Dispute Resolution portal.
  • After 3 months since your first complaint to the company (but not later than 4 months after the broker response), you can complain to the Cyprus Financial Ombudsman by submitting the complaint form. The fee is 20,- €.  Please consider that this arbitration body is not a public entity, is not independent, and the procedure can take longer than 24 months.
  •  If you already complained to the CySEC and got no reaction, you can complain to the ESMA against the Cyprus Securities and Exchange Commission.


How to file criminal charge:

  • If you have fallen victim to fraud, you should file criminal charge to your local Prosecutor.
  • Recently, the FBI is investigating binary options fraud worldwide. A spokeswoman for the FBI said that anyone from all over the world with a complaint or tip about binary options fraud can contact the agency’s Internet crime complaint center,


More information here

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