Terms and Conditions
1. Introduction
Welcome to Trusted by Traders. By accessing or using our services, you agree to comply with and be bound by the following terms and conditions. Please read these terms carefully.
2. Terminology
2.1 Regulator is Trusted by Traders, an independent self-regulated body dedicated to upholding the integrity and rights of traders.
2.2 A trader is an individual engaged in trading activities and seeking the services of the Regulator.
2.3 A Partner Platform is a trading platform that has agreed to be governed by the rules and regulations set forth by Trusted by Traders.
2.4. Complaint is a formal grievance submitted by a Trader against a Partner Platform.
2.5 Award is the decision rendered by the Regulator, which may include directives for compensation or other remedial actions.
2.6 Complainant is the Trader who submits a Complaint against a Partner Platform.
2.7 Trading Platform is an online service or website which allows a trader to conclude trading operations using financial instruments.
2.8 Compensation Fund is a fund maintained by Trusted by Traders, contributed to by Partner Platforms through a yearly partnership fee, to be accessed in case a Partner Platform fails to comply with the Regulator's compensation directive.
3. Partner Eligibility
3.1 To become a Partner Platform, a trading platform is obliged to:
- Demonstrate adherence to fair trading practices;
- Agree to abide by the decisions and directives of Trusted by Traders;
- Maintain transparent and ethical operations;
- Pay a yearly partnership fee, which contributes to the Compensation Fund.
3.2 Application Process
3.2.1 The Trading Platform intending to become a Partner Platform completes the application form provided by the Trusted by Traders and submits all required details
and documentation demonstrating adherence to fair trading practices, transparency, and ethical operations.
3.2.2 The Trading Platform submits supporting documents, including but not limited to, compliance records, proof of fair trading practices, and any other relevant certifications or audits.
3.2.3 The Trading Platform undergoes a thorough review and verification process conducted by Trusted by Traders. This process includes an assessment of the trading platform's operations, compliance with regulations, and ethical standards.
3.2.4 Upon successful review and verification, receive an approval notice from Trusted by Traders. The trading platform must agree to comply with all terms and conditions set forth by Trusted by Traders, including ongoing adherence to fair trading practices and ethical operations.
3.2.5 To become a Partner Platform the Trading Platform signs an agreement confirming the trading platform’s commitment to abide by the decisions and directives of Trusted by Traders.
3.2.6 The Partner Platform must pay the yearly partnership fee, which contributes to the Compensation Fund maintained by Trusted by Traders. The partnership fee ensures the trading platform's commitment to upholding the integrity and rights of traders.
4. Termination of Partnership
4.1 The partnership may be terminated if a Partner Platform:
- Fails to comply with the Regulator’s directives;
- Engages in unethical or illegal trading practices;
- Violates the terms and conditions set forth by Trusted by Traders.
4.2 Termination Process:
- The Regulator will provide written notice of intent to terminate the partnership;
- The Partner Platform will have 14 business days to respond or rectify the issues;
- Final termination will be confirmed if no satisfactory response or rectification is provided.
5. Types of Complaints Covered
5.1 Trusted by Traders covers complaints where a Partner Platform has breached the terms of the agreement entered into between the Partner Platform and the Complainant in relation to services provided by the Partner Platform.
5.2 Complaints not covered include:
- Complaints about actions or omissions of a Partner that do not relate to the services provided by that partner;
- Complaints against a non-Partner or a platform that is not recognised as a Partner at the time the complaint is submitted;
- Complaints that are filed more than 45 days after the dispute arose between the Complainant and the Partner;
- Complaints that are baseless or are being pursued by the Complainant with improper motives;
- Complaints that have already been addressed and resolved by other regulatory bodies or legal authorities.
6. Right to Reject the Complaint
6.1 Trusted by Traders reserves the right to reject a complaint if:
- It falls outside the scope of the complaints covered by the Regulator;
- Insufficient evidence is provided;
- The complaint is deemed to be made in bad faith.
7. Making a Complaint
Traders must first attempt resolution directly with the Partner Platform.
7.2 Submission Process:
- A Complainant must complete and submit the online complaint form, including a detailed description of the dispute and previous resolution attempts;
- A Complainant may attach all relevant supporting documentation;
- The Regulator will acknowledge receipt of the complaint within 2 business days and provide a unique reference number.
7.3 Review and Investigation
7.3.1 Initial Review
- The Regulator reviews the complaint within 5 business days to ensure completeness and appropriateness for intervention;
- Then, the Regulator notifies the Partner Platform, which must acknowledge receipt and provide commentary within 5 business days.
7.3.2 Formal Investigation:
- The Regulator initiates a formal investigation following the Partner Platform's response;
- Both parties will be informed of the progress and any required actions;
- Trusted by Traders issues a final decision within 5 business days after the investigation concludes.
8. Monetary Compensation
8.1 In cases where the Regulator rules in favour of the Trader, the Partner Platform is obligated to provide compensation as directed by the Award.
8.2 Compliance Timeline:
- The Partner Platform must comply with the directive within 2 days of the decision;
- Failure to comply may result in further regulatory actions, including accessing funds from the Compensation Fund.
9. Enforcing an Award
Trusted by Traders monitors compliance with the Award. Non-compliance by the Partner Platform may result in termination of partnership and further regulatory actions, including the use of the Compensation Fund.
10. Confidentiality
Trusted by Traders ensures the confidentiality and security of all information shared during the dispute resolution process.
10.2 Data Protection
- Data is protected by robust security measures;
- Information is only used for the purpose of resolving the complaint;
- All parties involved are required to maintain confidentiality.
11. Declaring a Complaint Closed
A complaint is declared closed when:
- The final decision is communicated to both parties;
- The Partner Platform has complied with any directives or compensation requirements;
- Both parties acknowledge the resolution.
12. General Provisions
12.1 Trusted by Traders reserves the right to amend these terms and conditions at any time. Changes will be effective upon posting on our website.
12.2 For any questions or concerns, please contact us at contact@trustedbytraders.com.
13. Acceptance
By using our services, you acknowledge that you have read, understood, and agree to be bound by these terms and conditions.