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  1. #1
    Archi's Avatar
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    Default Resolved - The broker which thinks out what isnt present in the contract-MRC.

    Hello, I have opened account #45689735 on the name in company MRC Markets (Forex with MRC - trading in Forex. An access to a currency market Forex. Forex quotes, trading strategies, news, forecasts), and deposit it on 100 USD. After deterioration of trading conditions (the spread 32 points) has decided to deduce money. The companies has requested two documents proving the identity, notarially assured both officially translated, and two documents certifying the registration, also notarially assured and officially translated. Though in the contract it has not been told that the company will demand four documents officially assured by the notary. I haven't executed this requirement, as it isn't meaningful, services of the notary will manage to me more expensively my deposit, being guided by the accented trading agreement, point 11 which says that the agreement can be terminated at any time, if claims to me from the company aren't present, (I have an answer from the company in which is told that claims to me aren't present) and the sum of the deposit of the trading account will be returned on my bank account, has decided to terminate the agreement. Except as presence of claims for not return of my money from the trading account in the contract isn't present anything. But the company on the former doesn't deduce means, referring to universal practice, but having resulted a uniform example. Though I resulted examples of that in universal practice the documents assured by the notary for withdrawal don't demand, the scanned copies demand only. And I have sent the scanned copies of documents, also I spend withdrawal by the same a way as deposit, and there is a possibility to deduce means for my bank account for my name.
    Having seen responses at various forums, I have understood that I not the first who refuse the deposit as four notarially certified documents, and their transfer to Austria, often costs more expensively the deposit. I consider that the company doesn't satisfy a condition of the contract, and also uses blanks in the contract to own advantage that is rough infringement of business ethics.

    Circumstances specifically changed! MRC broke the contract and don't return money. Proofs at the end of article.
    Last edited by Archi; 03-08-2012 at 04:58 AM.

  2. #2
    Pharaoh's Avatar
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    There is no universal practice with forex brokers. All but the worst will require documents, but the amount and format for submission will vary.

    Check the TOS on their website and see if it covers this or not.

  3. #3
    Archi's Avatar
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    In TOS on their website it is told only - the citation - "According to point 2 of Trading Agreement MRC Markets reserves the right to itself« to request of the client
    Identification documents at any stage of work of the Client with the trading account ».
    Except - anything, I also couldn't think that will request four documents assured and translated notarially though, by the way - the contract I have accepted in Russian, and all dialogue and also the personal data gave the companies in Russian.
    MRC is based on universal practice but where such was? Or in general it is impossible to open the account without notarially certified copies, or them don't demand, and the scanned copies, as for example in BMF, Alpari, Forex.com and so on demand only.
    Have created such conditions, it is impossible what to trade basically, at all during a news exit as now for example, the spread makes 31 point (on four signs, and 310 on five) I Apply screenshot and this with the fact that isn't present what news, and the market is quiet. It is necessary or spend for services of the notary and sending of documents more than my deposit, or to throw the deposit. As to increase the deposit and a part from it to spend for verification not probably.

  4. #4
    Archi's Avatar
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    Besides, they refuse to return even my replenishment on 100 USD which I has listed from the electronic purse, I offered them it, still when on my trading to the account was 134 USD, one of these days, literally by miracle I managed to earn 150 more USD as in some seconds after transaction closing - the spread has grown again to 31 points....

  5. #5
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    I have correctly understood, what you to me will not multiply? You consider what not to return the initial deposit it normally?


  6. #6
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    Technically, if proper IDs aren't submitted, a broker might not even be able to return an initial deposit. This is why no one should ever deposit any money until the broker verifies that all documents are in order.

  7. #7
    Archi's Avatar
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    I can give documents, but I didn't know that they need to be assured notarially and four pieces, also it isn't told in the contract, I thought that will send the scanned copies as well as at other brokers enough. The company demands to assure - but it isn't present in the contract.

  8. #8
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    Clearly, thanks and on that, I won't assure documents as it will cost more than my deposit, let the company will spend my means for the purposes as well as many other traders who has risked to get it of a few money.

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    I thought that you will help me, what for is asked this site if company MRC works as is created will want, demand four documents to send to Vienna (Austria) and to translate them, - that isn't written in the contract though I suggested to arrive to representation in Moscow and to show all documents!!!, expands a spread though speaks that won't be....
    They are obvious swindlers I has found many bad responses about them. I nevertheless trust that you are valid to help me, but most of all I would like not to return means - and to restore justice if you help to return me means - I will sob out them to you, it already 650 usd, I have gone on high risks - and left before news the big prize that isn't forbidden by the company.

  10. #10
    Pharaoh's Avatar
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    Send MRC a link to this thread. Let them know that everyone is watching to see if they respond or not.

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