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Hello my name is ***** ***** I will help you with this.
This is a question and answer site, so we can offer advice but we can not act for you.
If that is ok - could you please explain your situation a little more?
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
besides they stop my ability to deposit without telling me & the account is stuck now & every minute passes i lose money & they did nothing...
i have screen shoots showing that deposit ability is disabled & another one for the conccurent login attempt
what do you think ?
Which country is the agreement governed by?
i have no idea....how can i get that ?
The terms and conditions which you agreed to
They should be there if it was online
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.
Ok - its bad news then I am afraid.
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.
If you are going to sue it needs to be in the British Virgin Islands
Not the UK
Therefore you need to sue there and not here in the UK
I am a UK lawyer not BVI so I can't tell you about that.
i need your advice
But if it was the UK anything under £10,000 you could sue and it would be a small claim
That means even if you lost you only forfeit the Court fees
Therefore you need to consider issuing proceedings in the BVI
As it is common law its the same principles of here
The advice I would give in the UK is this
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.
it's 100000 Euro
But you need a BVI Lawyer
do you think it's a winning case ?
I think you have a chance, but litigation is never certain
You can have the best case on paper and still lose
There is always a risk
But I have researched law firms in the BVI
free consultation ?
I don't know. They may do
But thats a commercial decision not a legal one
All I can do is tell you what the law is
But I think you have a chance yes
Can I clarify anything for you about this today please?
can i calim more than the amount i deposited ?
Yes you can sue for breach of contract and claim loss and damage
what if i didnt sign the Terms & conditions ?
If you clicked and agreed, I assume you did -you are still bound
You can't say you didnt know as you have been trading for 3 years
ok, i will check on this one
Ok -can I clarify anything for you about this today please?
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 ?
before opening a case ?
Yes you can send a letter as I indicated above.
You need to set out your losses and say what you want doing to put it right
Then say you will go to Court within a time period, say 14 or 28 days if they do not
ok i will do that
can you write a template for me so it will be easy to fill ?
Can I clarify anything else for you about this today at all?
Template, it is easy to do
You just need to write and set out your position.
So what has happened and why
And what you want to happen
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
& i sent another official email as a record stating all what he said & still the deposit ability is still blocked
Dont email - write and send it international recorded or courier
& 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
ok i will do that tomorrow first thing in the morning
anything i can do so they can consider me strong in my position ?
i need to put pressure on them...what do you think ?
Nothing specific save for setting out what has happened and why
ok .thx a lot
Happy to help
Can I help with anything else today?
Can i ask another question
Same but i dont need the conversation to be public