Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
    Basic Account Holder tnook Novitiate



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    Cagger since : Mar 2007
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    Default Forex broker vs tnook

    Hi,

    I think this is new to CAGicon.


    I have a trading account with a forex broker.
    i noticed a few trades on my ledger that I hadn't authorised.


    On closer examination I discovered my son had been playing with my account.
    He has a demo account and likes to pretend to trade,
    but had used my live account a couple times on my iPad/iPhone.

    My first instinct was to write it off and blame myself for not being diligent enough.
    Then I came across a potential precedent.

    SPREADEX LTD V COCHRANE [2012] EWHC 1290

    http://www.druces.com/spreadex-vs-co...form-contract/

    The case is a victory for the consumer over a forex broker for a few reasons.

    - Contract was too onside and provided no benefit for the customer
    - Unreasonable to expect the customer to read the dozens of pages of T&C which are hidden behind a checkbox on a sign up page. Goes against UTTCR according to the judge.

    It's a long-shot but I have lodged a complaint with the broker asking for the trades to be refunded and quoted the case.
    If they don't respond favourably I will try the fosicon route.


  2. #2
    Site Team martin2006 Highly informative martin2006 Highly informative martin2006 Highly informative martin2006 Highly informative martin2006 Highly informative martin2006 Highly informative martin2006's Avatar



    Follow Real_CAG on Twitter
    Cagger since : Jul 2006
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    Default Re: Forex broker vs tnook

    As its high court, it is a precedent.

    is your account with spreadex?

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  3. #3
    Basic Account Holder tnook Novitiate



    Follow Real_CAG on Twitter
    Cagger since : Mar 2007
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    Default Re: Forex broker vs tnook

    Sorry for the delay.
    Been a busy year.

    I have complained to my broker about the unauthorized trades and they are just leaning on their Terms and Conditions that I am responsible for all trades done on my account.

    I’ve just opened a complaint with the fosicon and sited the SpreadEX V Cochran’s case where it was ruled to be in breach of UTCCRicon. Fingers crossed.



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