Response from Gibraltar FSC - they see nothing wrong with what Intertrader have done.
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We have spoken to Intertrader Limited in relation to your complaint and have come to the conclusion that Intertrader Limited have not surpassed their remit or breached any regulatory or compliance requirements.
The explanation given that due to an error on behalf of the liquidity provider an advantage was had in the market and this was in breach of the Intertrader Limited’s terms and conditions and was subsequently cancelled by the liquidity provider and Intertrader Limited. It is our understanding that this was taken advantage of by 29 other clients who have accepted that these particular trades were all annulled. Intertrader Limited have confirmed that the have since changed liquidity providers to avoid such an error in the future.
To surmise, after our investigation the FSC do not believe that Intertrader Limited have breached any of its regulatory or compliance requirements.
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The fact that the company refuses to provide any evidence of the error, nor acknowledge the fact that I have data which shows the prices received were valid, seems to be irrelevant.
Avoid this company like the plague - utter joke. Refusal to pay profits on valid trades with ABSOLUTELY NO EVIDENCE and REFUSE TO SUPPLY ANY.
AVOID.