How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

hi; i have a serious issue with a company while i'm trading

Customer Question

hi; i have a serious issue with a company while i'm trading online
the company name is WWW.IFOREX.COM
can you support me with a serious advice ?
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

This is a question and answer site, so we can offer advice but we can not act for you.

Alex Watts :

If that is ok - could you please explain your situation a little more?

JACUSTOMER-ylob3s8o- :

i have been trading with this company since 3 years but since september i noticed concurrent login attempts from another location & the session during trading is expired...that means some one has access to my account on iforex.com....i invested almost 100k euro till now & i did escalate to them & i told them this is a securoty issue & you must pay back the amount i deposited...since a week no response

JACUSTOMER-ylob3s8o- :

besides they stop my ability to deposit without telling me & the account is stuck now & every minute passes i lose money & they did nothing...

JACUSTOMER-ylob3s8o- :

i have screen shoots showing that deposit ability is disabled & another one for the conccurent login attempt

JACUSTOMER-ylob3s8o- :

what do you think ?

Alex Watts :

Which country is the agreement governed by?

JACUSTOMER-ylob3s8o- :

i have no idea....how can i get that ?

Alex Watts :

The terms and conditions which you agreed to

Alex Watts :

They should be there if it was online

JACUSTOMER-ylob3s8o- :

FORMULA INVESTMENT HOUSE LTD., A COMPANY REGISTERED AND EXISTING UNDER THE LAWS OF
THE BRITISH VIRGIN ISLANDS ("FIH") OFFERS INVESTMENT SERVICES (THE "SERVICES") STRICTLY
UNDER THE FOLLOWING TERMS AND CONDITIONS, WHICH ARE NON - NEGOTIABLE AND MAY BE
AMENDED AFTER PROPER NOTICE HAS BEEN GIVEN TO YOU (THE "CLIENT") AT THE ABSOLUTE
DISCRETION OF FIH SUBJECT TO THE PROVISIONS OF THE TERMS BELOW.
BY ACCEPTING AND AGREEING TO THE TERMS AND CONDITIONS OF THIS AGREEMENT AND OPENING
AN ACCOUNT, THE CLIENT ACCEPTS THE FOLLOWING TERMS AND CONDITIONS. SUBSEQUENT TO
THAT AND (I) SUBJECT TO FIH’S FINAL APPROVAL AND (II) UPON THE CLIENT'S FUNDING OF HIS
ACCOUNT, THE CLIENT ENTERS INTO A LEGAL AND BINDING AGREEMENT WITH FIH.
Whereas, FIH allows the carrying out of transactions in foreign currency exchange rates, in contracts for differences
("CFDs") based on foreign exchange rates and other financial assets, including, without limitation, commodities,
shares and indices, as well as in options and other Financial Instruments, all as may be offered from time to time
by FIH at its sole discretion, all subject to the terms and conditions set forth in this Agreement; and
Whereas The Client wishes to open an account with FIH for purposes of carrying out such Transactions
("Account");
Now therefore, the parties have agreed as follows:
1. Scope of Agreement & Definitions
1.1. This Agreement sets forth the terms and conditions governing the Client’s Account and all Transactions
placed through the Account.
1.2. The term “this Agreement” means this agreement and all annexes forming an integral part of this
agreement, including without limitation Nomination of Agent Annex; FIH’s Trading Conditions, the Risk
Disclosure and Client’s Declaration Annex, and Glossary of Terms Annex, as such annexes are amended
by FIH from time to time and any other Annex determined by FIH as forming an integral part of this
Agreement.
1.3. All terms used in this Agreement, and not defined herein, shall have the meaning assigned to them in the
Glossary of Terms. Other terms not defined herein shall have the meaning assigned to them in customary
practice.

JACUSTOMER-ylob3s8o- :

http://www.iforex.com/legal/trading_agreement.pdf

Alex Watts :

Ok - its bad news then I am afraid.

JACUSTOMER-ylob3s8o- :

here :

The laws of the British Virgin Islands shall govern this Agreement and the competent Courts of the British
Virgin Islands shall have sole jurisdiction over any dispute arising from or in connection with this
Agreement, except for claims for the collection of any amount owed by the Client to FIH which may be
brought before any court with jurisdiction over the Client and/or its assets.
13.2. Client hereby waives any right to object to the sole jurisdiction of the British Virgin Islands, including
without limitation any claim that such courts are inconvenient forum to resolve such disputes.

Alex Watts :

If you are going to sue it needs to be in the British Virgin Islands

Alex Watts :

Not the UK

Alex Watts :

Therefore you need to sue there and not here in the UK

Alex Watts :

I am a UK lawyer not BVI so I can't tell you about that.

JACUSTOMER-ylob3s8o- :

i need your advice

Alex Watts :

But if it was the UK anything under £10,000 you could sue and it would be a small claim

Alex Watts :

That means even if you lost you only forfeit the Court fees

Alex Watts :

Therefore you need to consider issuing proceedings in the BVI

Alex Watts :

As it is common law its the same principles of here

Alex Watts :

The advice I would give in the UK is this

Alex Watts :

You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.



If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.



The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.



If the matter is defended it will be set down for a trial. If the claim is for £10,000 or less it will be a small claim and you will not need representation.

JACUSTOMER-ylob3s8o- :

it's 100000 Euro

Alex Watts :

But you need a BVI Lawyer

JACUSTOMER-ylob3s8o- :

do you think it's a winning case ?

Alex Watts :

I think you have a chance, but litigation is never certain

Alex Watts :

You can have the best case on paper and still lose

Alex Watts :

There is always a risk

Alex Watts :

But I have researched law firms in the BVI

Alex Watts :

http://www.applebyglobal.com/locations/british-virgin-islands.aspx

JACUSTOMER-ylob3s8o- :

free consultation ?

Alex Watts :

http://www.conyersdill.com/locations/view/british-virgin-islands

Alex Watts :

I don't know. They may do

Alex Watts :

But thats a commercial decision not a legal one

JACUSTOMER-ylob3s8o- :

thx

Alex Watts :

All I can do is tell you what the law is

Alex Watts :

But I think you have a chance yes

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-ylob3s8o- :

can i calim more than the amount i deposited ?

Alex Watts :

Yes you can sue for breach of contract and claim loss and damage

JACUSTOMER-ylob3s8o- :

what if i didnt sign the Terms & conditions ?

Alex Watts :

If you clicked and agreed, I assume you did -you are still bound

Alex Watts :

You can't say you didnt know as you have been trading for 3 years

JACUSTOMER-ylob3s8o- :

ok, i will check on this one

Alex Watts :

Ok -can I clarify anything for you about this today please?

JACUSTOMER-ylob3s8o- :

but what is the right way to proceed...is there a way to get a letter or something to show them i'm serious so i can close the case friendly with them ?

JACUSTOMER-ylob3s8o- :

before opening a case ?

Alex Watts :

Yes you can send a letter as I indicated above.

Alex Watts :

You need to set out your losses and say what you want doing to put it right

Alex Watts :

Then say you will go to Court within a time period, say 14 or 28 days if they do not

JACUSTOMER-ylob3s8o- :

ok i will do that

JACUSTOMER-ylob3s8o- :

thanks

JACUSTOMER-ylob3s8o- :

can you write a template for me so it will be easy to fill ?

Alex Watts :

Can I clarify anything else for you about this today at all?

Alex Watts :

Template, it is easy to do

Alex Watts :

You just need to write and set out your position.

Alex Watts :

So what has happened and why

Alex Watts :

And what you want to happen

JACUSTOMER-ylob3s8o- :

i did that in my email of escalation to them...the account manager, Head called me & he has no solid proof & he said i will call you after an hour & he didnt since 7 hours now

JACUSTOMER-ylob3s8o- :

& i sent another official email as a record stating all what he said & still the deposit ability is still blocked

Alex Watts :

Dont email - write and send it international recorded or courier

JACUSTOMER-ylob3s8o- :

& i am losing money & they must consider every hour without a response is a 10000 USD loses for me untill they get a solid feedback & still no response

Alex Watts :

Yes indeed.

JACUSTOMER-ylob3s8o- :

ok i will do that tomorrow first thing in the morning

Alex Watts :

Ok good.

JACUSTOMER-ylob3s8o- :

anything i can do so they can consider me strong in my position ?

JACUSTOMER-ylob3s8o- :

i need to put pressure on them...what do you think ?

Alex Watts :

Nothing specific save for setting out what has happened and why

JACUSTOMER-ylob3s8o- :

ok .thx a lot

Alex Watts :

Happy to help

Alex Watts :

Can I help with anything else today?

JACUSTOMER-ylob3s8o- :

thx

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and 2 other Law Specialists are ready to help you
Customer: replied 2 years ago.

Can i ask another question

Expert:  Ash replied 2 years ago.
Is it related to this or something else?
Customer: replied 2 years ago.

Same but i dont need the conversation to be public

Expert:  Ash replied 2 years ago.
I have sent you an additional service.
That may allow us to speak.
Alex

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice