Compensation Fund
Crypto Assets Control is an experienced team, where each member is a highly qualified specialist who is able to find out the circumstances of the dispute and resolve the situation on favourable terms for both parties to the conflict. The team’s area of expertise extends to all trading situations that may arise between a broker and their clients. Our team is dedicated to finding a quick, simple, and fair solution. The entire process is backed by the team’s exceptional experience and global trading practices. Our goal is to provide the best solution without involving third parties in the dispute, namely official systems and other industry regulators. One of the aims of creating the Commission is to protect the rights and interests of traders.
The Compensation Fund is an internal body of our company that was created to the purpose of providing safe environment for all parties by serving as a guarantee in these mentioned below situations:
• The broker did not accept the decision made by the Commission and refused to follow its instructions.
• The broker has lost the status of a member, and the decisions taken under the Commission are not binding on it.
The Fund is financed by broker-members through automatic deductions from their membership fees to a special secure bank account. The amount of such deductions is 10% monthly. All money stored in this account can be spent exclusively for the needs of the Fund. Any other purposes are prohibited.
All Clients of broker-members are entitled to compensation if appropriate decisions are made by the Commission. If losses were the result of clients’ independent actions during trading, the Fund is not obligated to cover them. The presence of debts to a broker does not affect all clients, and accordingly, the principles of the Fund do not apply.
Each Client who has suffered losses due to the fault of a member-broker is entitled to monetary compensation, but this amount cannot exceed €100,000. If there are several injured parties, and the total amount of compensation is also greater, €100,000 will be distributed among all Clients in equal parts.
Rules of Compensation Payments
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The Commission undertakes to initiate payment of compensation to the applicant within 90 days after the final decision is made about the status of the member-broker and its alteration.
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If necessary, the Commission has the legal right to take any action that will ensure compliance with the decision and payment to the applicant. Such actions may include the applicant’s verification.
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If the maximum allowable amount of compensation is exceeded and there are several applicants, the Commission divides the maximum amount into equal parts.
