It seems that this case is over in favor of the trader. Since there are not so many brokers that have the matching clause (see below) in their agreements and share the factual background it is more likely that not that this lawyer / attorney reports about Simik's case:
We have successfully represented our Czech client against a Moscow-based broker who cancelled, manipulated and withheld the client’s profits. Our client’s rights were vindicated in a unanimous decision rendered by a
3-member arbitral tribunal under the Rules of the the International Commercial Arbitration Court at the Russian Federation Chamber of Commerce and Industry. The broker failed to give any explanation for its actions almost until the beginning of the arbitral proceedings which the tribunal assessed as follows: „Arbitral tribunal believes that such conduct of the Respondent [the broker], that is, closing the trading account and cancelling the Claimant‘s [the client’s] transactions without a meaningful explanation and leaving the Claimant’s respective requests without response is manifestly improper and it [sic!] not in line with good faith and fair dealing requirements.“
Source:
http://www.janhostinsky.com/2016/04...nd-manipulation-found-in-an-icac-arbitration/
BFMN's article 23 of the agreement is this:
"Any dispute, controversy or claim which may arise out of or in connection with this Agreement, or the execution, breach, termination or invalidity thereof, shall be settled by the
International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation in accordance with its Rules. The language to be used in the arbitral proceedings shall be English and the place of arbitration shall be Moscow, Russia. The arbitral tribunal shall consist of no more than three (3) arbitrators and all proceedings shall be conducted and decision rendered based solely on the submission of documents and other such materials. "
Elsewhere, I recommended this lawyer because he's knowledgeable about FX, OTC market, CFDs and yet he does not charge tremendous amounts of money. He honestly tells you if you have a case or not and since he works a lot on a success fee basis, this is good for both him and the trader.
For example, FCA don't take cases for brokers not located in the UK even if they are registered at FCA, it offers you complaint to the broker other regulators.
