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 Alex J. Your Own Question

Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3493
Experience:  Solicitors 2 years plus PQE
13113900
Type Your Law Question Here...
Alex J. is online now

I have invested 15000 US dollars in a stock trading company.

Customer Question

I have invested 15000 US dollars in a stock trading company. Since I lost my job, I requested a return of my investment.
The company calls me on a regular basis to keep the account trading. I cannot afford to take this risk now.
I requested withdrawal/refund in August 2015 - to date they have only released 3000US dollars.
They are not regulated by FCA, as I have already approached the financial ombudsman.
What can I do now?
Submitted: 10 months ago.
Category: Law
Expert:  Alex J. replied 10 months ago.
Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Where is the company based? How did you pay for the investment?
Customer: replied 10 months ago.
Alex,
The company (10Markets) has a London address but is not covered by the FCA. I paid using my debit card.
Expert:  Alex J. replied 10 months ago.
Hi, Thank you. Is the company an English Limited company? Kind regards AJ
Customer: replied 10 months ago.
Alex,
A subsidiary of the Whitestone Group Ltd, Anguilla, 10Markets.com’s operational office is located at #16, Upper Woburn Place, London.
Expert:  Alex J. replied 10 months ago.
Hi, Thank you. If they have branch in London the next step would be just to sue them for the return of the funds? I have looked at the Terms and Conditions of the company and rather unhelpfully it does not specify a jurisdiction (or choice of law) to govern your agreement with them. Considering this you should be able to sue them in the UK.
Customer: replied 10 months ago.
Alex,
And the cost to start proceedings?
Expert:  Alex J. replied 10 months ago.
Hi, Thank you. The claim is USD 12000 - this is relatively straight froward and can be done in the small claims court - the court fee is £540 (4.5% of the claim if done online) this is recoverable if you win. If you use a solicitor you are looking at another £2-3k which you should be able to recover part of. It is likely that once you commence or threaten litigation they will likely seek to settle the claim with you. Kind regards AJ
Customer: replied 10 months ago.
Alex,
How do I claim online? I am overseas right now
Expert:  Alex J. replied 10 months ago.
https://www.gov.uk/make-money-claim-online - here is the money claim online service. If you are making the claim from abroad, you will likely need to instruct a solicitor to make the claim for you. Kind regards AJ
Customer: replied 10 months ago.
Alex,
Can you start this for me?
Expert:  Alex J. replied 10 months ago.
Hi, Thank you. I am afraid we cannot take work like that on this site. The best thing I can suggest is you contact the Law Society www.lawsociety.org.uk and ask them for a solicitor with small claims experience that is capable of accepting instructions from clients based abroad. Kind regards AJ

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
< Last | 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