Complaints Handling - Client Procedure
Our goal is to provide our customers with the best trading experience and service offering.
We define a complaint as any objection a client may have with respect to the provision of any service provided by us; therefore we consider any complaint as an opportunity to receive client feedback and make improvements to our services.
As such, we would like to quickly deal with any issues arising by enabling the client to submit a complaint in the most convenient way.
We encourage you to choose from the following available methods:
Upon receipt of the client's complaint, we shall send a written acknowledgment to the client within 2 business days from the date the complaint was received, confirming that we will take all the required actions to resolve the complaint, as well as the approximate time required to do so.
We will send a written response to the client within two (2) weeks from the date the complaint is received. If the client complaint has not been dealt with within the two (2) week period, then we shall send the client a written preliminary response informing him/her about the status of their complaint and shall inform him/her of the remaining steps that are going to be followed in order for the complaint to be resolved.
We shall strive to resolve all complaints within an eight (8) week period from the date the complaint is received.
In the event that you are still not satisfied with our reply or no agreement was reached with us, you may refer the matter in writing to the Office of the Arbiter for Financial Services, as per the contact details provided below:
The Office of the Arbiter for Financial Services, First Floor, Pjazza San Kalcidonju, Floriana FRN 1530, Malta.
Further information may be obtained through the official website: www.financialarbiter.org.mt; Freephone (local calls): 8007 2366 and Telephone: +356 2124 9245.
Extrajudicial complaint and appeal procedures
Without prejudice to the right to appeal to the courts, the customer can appeal to one of the following two arbitration bodies in the event of disputes in connection with the contract concluded with nextmarkets.
The European Commission
The European Commission has published an online dispute resolution platform at: www.ec.europa.eu/consumers/odr
This platform can be used by a consumer for out-of-court settlement of a dispute arising from online contracts with a company established in the EU.
The Office of the Arbiter for Financial Services (OAFS)
The body responsible for settling disputes relating to financial services in Malta is the OAFS. The contact details are:
Office of the Arbiter for Financial Services 1st Floor St Calcedonius Square Floriana FRN 1530 Malta
Free local phone number: 80072366 Phone: (+356) 21249245
A prerequisite for the OAFS to accept a complaint for processing is that a complaint has first been submitted to the financial service provider, i.e. nextmarkets, and not resolved to the satisfaction of the customer. If this has been done, the OAFS accepts a complaint for processing after the customer has received a written reply from nextmarkets or if nextmarkets has not responded to the complaint within 15 days. A complaint can be lodged with the OAFS by submitting either a dedicated form or a letter of complaint to the OAFS. Complaints should normally be submitted in Maltese, but the OAFS can also accept complaints in English, especially if the complainant is not a Maltese citizen. It is also necessary to pay a handling fee of 25 € to the OAFS. Further information on the complaint procedure can be found on the OAFS website or by calling the toll-free number 80072366 or +356 21249245.
Beyond these arbitration bodies, nextmarkets is not obliged to participate in dispute resolution proceedings before a consumer arbitration body.