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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3695
Experience:  Solicitors 2 years plus PQE
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I'm involved with an online trading company that I've

Resolved Question:

Hello,
i'm involved with an online trading company that I've just found out are not regulated.
I started trading with them I December 2015, and initially was fine, I was asked by the trading manager to raise my account to a level where he could trade with me one to one, which I did.
he then convinced me to enter an "EVENT" which they have once a month which was supposed be a sure thing, thinking they had insider info I went ahead, the trade didn't go well and lost.
something in the back of my mind was telling me to get out which I tried, and was to couldn't do because of T&C, when I tried to close the account a leverage was added to it without my consent, and now they won't let me close the acc because of the leverage that was put on.
I don't know where I stand,
can you help
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.
Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Where is the company based? How much are you looking to recover? Did you sign any terms and conditions with the company?
Customer: replied 1 year ago.
the company is UK based, i'm looking to recover €4000, and no I didn't sign a T&C
Customer: replied 1 year ago.
I'm about to go to work any time now, is it possible to phone you tomorrow
Expert:  Alex J. replied 1 year ago.
Hi, Thank you. If you were entitled to terminate your account and withdraw your money, as this was agreed in your contract with them, then this is a straight foward case of debt recovery. Write to them and say:(i) They have executed an order for a trade you did not consent to;(ii) They have not followed instructions to close the accounts;(iii) Say if they do not immediately withdraw the funds you are owed and send them to your bank account, you reserve the right to sue them for breach of contract; https://www.moneyclaim.gov.uk - as the sum owed is less than Euro 4000 - you can start a money claim online. Does the company have a UK address?Kind regards AJ
Customer: replied 1 year ago.
I think so but not absolutely certain
LYBS
64 New Cavendish st
London wig 8tbthe senior Compliance manager is. Christian Von Gutter
Customer: replied 1 year ago.
really must go now, thanks for your help so far
Expert:  Alex J. replied 1 year ago.
Thank you - do you have a Limited company name?No problem I will await to hear from you tomorrow.Kind regards AJ
Customer: replied 1 year ago.
Hi AJ,
how can I send them a letter if I'm not certain of their postal address, I suppose sending them an email is out of the question
Expert:  Alex J. replied 1 year ago.
Hi, Thank you. Do you know the name of the bank account you sent the money to?
Customer: replied 1 year ago.
I'll check my bank to see if I can find out the details. but I think I've found out the name of the company that BSD operates under.
it's: FIBONATIX europe ltd, and the address is 64 New Cavendish st, London. W1G 8TB.
company number 09253393. and the current Directors name is: - Ms Sandrine Marie Claudia Rassool, and has been there since 8/10/2014.I'll get back to you with the bank details if I can
Expert:  Alex J. replied 1 year ago.
Hi Thank you. If you are making an online claim you only need to deliver the proceedings to the last known address of the person (or company) you are suing. Fibonatix (Europe) Limited is a registered company so there is an entity you can sue here.
Expert:  Alex J. replied 1 year ago.
Did this company have a bank account?
Customer: replied 1 year ago.
just chatted with the bank and they don't have those details unfortunately
Expert:  Alex J. replied 1 year ago.
Hi, Thank you. If Fibonatix (Europe) Limited is the company you have a contractual relationship with this, this is the entity you should sue to recover the money. Give them one more seven day demand to return the money and warn that if they do not return the money you reserve the right to take all action available to you including county court action. If they will not return the money and are in breach of contract you will have no option but to sue them.
Customer: replied 1 year ago.
would you have a template of a letter I could have to make sure I get the wording correct to make the difference
Expert:  Alex J. replied 1 year ago.
Hi Thank you. Here is a template letter before action from the Citizen Advice Bureau. You will need to tailor to cover a breach of contract for the supplier of services not goods - I cannot draft documents on this site but I can review the letter if you prepare a first draft. https://www.citizensadvice.org.uk/consumer/going-to-court/going-to-court/taking-court-action/Problems-with-goods---letter-before-court-action/I would be most grateful if you would rate my answer in the mean time? Kind regards AJ
Customer: replied 1 year ago.
is there a way to make this company divulge their address details, as the one I've got I'm not absolutely certain of, and they will deny receiving the letter
Expert:  Alex J. replied 1 year ago.
Hi, Thank you. The address they have is their registered office at companies house. You are legally entitled to serve proceedings at this address. If you serve the proceedings by first class post that is valid service for court proceedings under the Civil Procedure Rules.
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