Complaints Handling Policy

1. Scope and principles

This policy covers two types of complaint:

• Investor disputes: complaints from investors about the conduct of a forex or CFD firm, handled through the GFCRS complaint and dispute-resolution process; and
• Service complaints: complaints about the way GFCRS itself has handled a matter, or about the conduct of our staff.

We handle every complaint according to these principles:

• Fairness: we hear both sides, give each the chance to comment on the material evidence and give reasons for our conclusions.
• Independence: membership fees paid by firms never influence how a complaint is handled or decided. See our Conflict of Interest Policy.
• Accessibility: the service is free for investors and can be used without a lawyer. We make reasonable adjustments for people with disabilities or in vulnerable circumstances.
• Transparency: you can follow your case online at any time with your case reference.
• Confidentiality: we use the information you give us only to handle the complaint, as described in our Privacy Policy.

2. Who can complain and when

An investor dispute is normally eligible when:

• you are, or were, a client of the firm, or are legally authorised to act for a client;
• you have first complained to the firm and either received its final response or the firm has not resolved the matter within 30 days;
• you bring the complaint to GFCRS within 12 months of the firm's final response, or within 24 months of the events complained about if the firm did not respond;
• the same dispute is not already being decided, or has not already been decided, by a court or another dispute-resolution body.

Our dispute-resolution process applies to firms that are members of GFCRS. You may also submit a complaint about a firm that is not a member. We will record it and, where the firm agrees to take part, handle it in the same way; where the firm does not agree, we will tell you, and the information may be considered when we publish notices or assess applications.

We may decline a complaint, with reasons, if it is outside these criteria, is frivolous or vexatious, relies on documents that appear altered, or concerns matters such as the normal market risk of trading or a firm's legitimate commercial decision that is not linked to unfair treatment.

3. How to make a complaint

Use the online complaint form. You will be asked for your contact details, the firm and account concerned, a description of the issue, the outcome you are seeking, the amount in dispute and supporting documents (PDF, PNG or JPG, up to 10 MB each). You must confirm that the information is accurate and that you have read our Privacy Policy.

When you submit the form you receive a case reference in the format GFCRS-C-YYYY-XXXXXX on screen and by email. Keep it safe: you need it, with your email address, to track your complaint.

If you cannot use the online form, for example because of a disability, contact us through our contact page and we will help.

4. Stages of a complaint

Each case moves through the following stages, which you can see on the tracking page:

1. Received: the complaint is registered and acknowledged.
2. Under Review: a case handler from the Claims & Resolution Department checks eligibility, examines the evidence and notifies the firm, which is asked to respond.
3. Information Requested: we need more information from you (or from the firm) before we can continue. We will explain exactly what is needed and by when.
4. In Resolution: we work with both sides towards an agreed solution, which may include a proposal from the case handler.
5. Resolved: the dispute has been settled by agreement or a reasoned outcome has been recorded.
6. Closed: the case file is closed, for example after an outcome has been implemented, the review period has passed or the complaint has been withdrawn.

A complaint may instead be marked Rejected if it is not eligible. We will always explain why.

5. Target timelines

We aim to meet the following targets. They are targets, not guarantees: complex cases, delays in receiving information, or a high volume of cases may take longer. If we expect to miss a target, we will tell you and explain why.

6. Possible outcomes

A complaint may end in one of the following ways:

• Settled by agreement between you and the firm, with our help;
• Upheld or partially upheld, with a reasoned outcome stating what the firm should do to put things right, for example returning funds, correcting an account or processing a withdrawal;
• Not upheld, with reasons;
• Withdrawn by you at any time; or
• Outside the scope of the GFCRS process.

Member firms agree, as a condition of membership, to cooperate with the process and to comply with outcomes accepted by the complainant. If a member firm fails to do so, we may take membership action, including suspension or termination, and publish a notice. GFCRS does not itself pay compensation and cannot enforce an outcome through the courts on your behalf.

Using the GFCRS process does not affect your right to complain to the financial regulator that supervises your firm, to a statutory ombudsman or compensation scheme where one is available to you, or to take legal action. GFCRS is not a substitute for those bodies and does not act on their behalf.

7. Reviews by the Independent Review Committee

If you or the firm disagree with an outcome, you may ask for it to be reviewed within 30 days, explaining why. A review request is considered by the Independent Review Committee, whose members have had no involvement in the case and no role in membership sales or fee collection.

The Committee can confirm the outcome, change it, or send the case back for further investigation. Its decision ends the GFCRS process. A review is not a re-hearing: the Committee focuses on whether the outcome was reasonable on the evidence, whether the process was fair and whether new, material evidence has become available.

8. Complaints about our own service

If you are unhappy with the service you received from GFCRS, for example delays, the conduct of a member of staff or the way information was handled, please tell us through our contact page, quoting your case reference if you have one.

1. We acknowledge your service complaint within 2 working days.
2. It is investigated by a senior member of staff who was not involved in the matter complained about.
3. We aim to send you a full written response within 20 working days.
4. If you remain dissatisfied, you may ask for the response to be reviewed by a member of the Board of Directors, whose decision is final within GFCRS.

A service complaint does not reopen the outcome of an investor dispute; the review route for outcomes is described in section 7.

9. Our expectations of everyone involved

We expect complainants, firms and our staff to treat each other with courtesy. We may restrict contact, or in serious cases close a complaint, where a person is abusive, threatening or deliberately misleading. We will explain any such decision in writing.

10. Records and learning

We keep a record of every complaint and every action taken on it. We use complaint information, in anonymised form, to monitor member firms, improve our standards and our service, and, where enabled, to publish statistics. Records are kept in line with our retention schedule, as described in the Privacy Policy.