Russian SRO KROUFR gets no complains against broker-members in May 2016

Russian SRO KROUFR gets no complains against broker-members in May 2016

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Russia’s commission for the regulation of relations on financial markets KROUFR said on Thursday it received 29 trader complaints in May 2016, none of which were against its members.

In comparison, the commission received in April 25 complaints in total from customers of financial entities, of which four were addressed towards KROUFR members.

In May, investor complains were mainly regarding the inability to withdraw their funds, inadequate asset management, slippage and non-market quotes. The companies were against forex brokers ForenX, KSFTrade, Bforex, Fibo Group, Your Trade Choice, ProfitGroup, Trade12, Fortfs, MixTrade, and binaries brokers OlympTrade, Just2trade, and IQoption.

The KROUFR does not consider claims against non-members, but instead it forwards  them to the involved entities.

KROUFR said that last month it received signals against some brokers that it has warned against. The commission maintains a black list of companies that act incorrectly towards clients and that put traders’ funds at risk. It consists of 22 entities, of which the last one added was Titanium Investment Company. In addition, it received a complaint against MillTrade, which ceased operations nearly two years ago.

Source: KROUFR

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