Hi all,
I am glad that our client described the events that took place. With all understanding to his disappointment, please rest assure that UFX has acted well within its legal rights. It was the client who (we assume unintentionally) breached your terms and conditions and thus has earned this profit. We have communicated our findings to the client on a timely and a dignified fashion and explained the reasons behind our action.
As the client mentioned, clause 9.6 in our terms and conditions, which the client accepted before opening his trading account with UFX, clarifies our rights regarding termination or cancellation of trading positions. Indeed, our regulator has asked UFX to relate to this complaint and we have provided them with this exact explanation and the full set of evidence regarding this trading position. The case, as far as UFX is concerned and as far as our regulator is concerned, is closed. Furthermore, under our regulated activity, we are obliged to adhere to best execution principles. This is obviously checked by our regulator on a regular basis.
UFX can only hope that the client will accept this explanation and will understand that he was not mistreated.