ROInvesting, a trading name of Royal Forex Ltd authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license No. 269/15 (hereinafter the “Company”), has adopted this Complaint Handling Procedure in order to establish fair and quick procedures for handling Complaints that may arise from the relationship with the Client. The Company is required to apply a complaints management policy, which is defined and endorsed by Senior Management and the Board of Directors, who will be responsible for its implementation and for monitoring the Company’s compliance with it. The Company shall further ensure that it has a complaints management function, which enables Complaints to be investigated fairly, with potential conflicts of interest to be identified and mitigated
The ‘Complainant’ shall mean any person, natural or legal, who is eligible for lodging a Complaint to the Company and who has already lodged a Complaint. The ‘Complaint’ shall mean a statement of dissatisfaction by a Client addressed to the Company by the Complainant, relating to the provisions of investment and/or ancillary services provided by the Company.
3. Submission of a Complaint
The Clients wishing to submit a complaint as a result of his/her dissatisfaction with the investment services offered by the Company are advised to complete and submit the Official Complaint Form available here. The completed Complaint Form shall be submitted via email to [email protected] or via post to Royal Forex Ltd | City Home 81, 3rd floor, 128-130 Limassol Avenue, 2015 Strovolos, Nicosia, Cyprus.
It shall be noted that a complaint will be considered as an Official Complaint and will be given a Unique Reference Number (URN) only if submitted in accordance with the above instruction.
The Company may not be able to accept your complaint submitted via any other means/channels.
4. Acknowledging your Complaint
We will acknowledge receipt (via email) of your complaint within five (5) business days from the receipt of your complaint and provide you the Unique Reference Number of your complaint. The Unique Reference Number should be used in all your future communication with the Company, the Financial Ombudsman and/or CySEC regarding the specific complaint.
5. Handling Process
Once we acknowledge receipt of your complaint, we will review it carefully, investigate the circumstances surrounding your complaint and will try to resolve it without undue delay and within the bounds of our mandate.
The investigation of the Complaint is subject to the provision of the correct information by the Complainant. The following information should be provided for the Company’s officer to be able to conduct an investigation:
- The Client’s full name;
- The Client’s trading account number;
- A full description of the issue/ Complaint, including dates, trading positions and any relevant details;
- The damage claimed by the Complainant;
- Reference of any correspondence exchanged between the Company and the Complainant.
A final response or a holding response will be sent to the Complainant within two (2) months from the date of receipt of the Complaint, providing you with the outcome/decision of the investigation. In case the Company is unable to respond within two months, you will be issued a holding response (in writing or other durable medium) where you will be informed of the reason/s for the delay and the period of time necessary to complete the investigation. This period of cannot exceed three (3) months from the submission of the Complaint.
During the investigation process the Company will keep you updated of the handling process of your complaint. One of our officers may contact you directly (including communication by email or phone) in order to obtain further clarifications and information relating to your complaint. We will require your full cooperation in order to expedite the investigation and possible resolution of your complaint.
Upon sending a final response, the Client is given a period of four (4) weeks to respond. If a response is not received within that period of time, then the Company shall consider the Complaint as settled. In case the Client is not fully satisfied with the Company’s final decision, the Client has the right to address his/her complaint to the Financial Ombudsman of Cyprus in case you are eligible to file a complaint with them and seek mediation for possible compensation. It is important that you contact the Financial Ombudsman of Cyprus within four (4) months of receiving a final response from the Company otherwise the Financial Ombudsman of the Republic of Cyprus may not be able to deal with your complaint.
In the unlikely event that the Company was unable to provide you with a final response within the three (3) month time period specified above you may again contact the office of the Financial Ombudsman of the Republic of Cyprus no later than four (4) months after the date when we ought to have provided you with our final decision.
Alternatively, you may maintain your complaint with the Cyprus Securities and Exchange Commission. However please note that the Cyprus Securities and Exchange Commission does not have restitution powers and therefore does not investigate individual complaints.
It is understood that your right to take legal action remains unaffected by the existence or use of any complaint-related procedure referred to above.
Kindly note that any dispute arising shall be subject to the exclusive jurisdiction of the Cyprus Courts.