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AltCoinTrader Trading Terms & Conditions

FAIS COMPLAINTS POLICY

Welcome to AltCoinTrader (Pty) Ltd where we undertake to run our operation with honesty and integrity. We undertake to act in a reasonable manner and deliver to our clients the highest level of service!

By using the AltCoinTrader site you acknowledge to have read and understood the following terms and conditions in full and agree to comply with them and be bound by them in so far as they are legally enforceable.

1. Purpose, Objective & Scope

AltCoinTrader is committed to providing a professional efficient service in all areas of its business at all times. The main objectives of the Complaints Policy are to:
  • Ensure AltCoinTrader is in compliance with the relevant laws and legal or regulatory requirements regarding client complaints
  • Protect AltCoinTrader from the possible consequences of being or being perceived to be unreceptive or unresponsive to client complaints;
  • Ensure that clients have access to a formal and transparent complaints procedure should they become unhappy with the service they receive; and
  • Ensure that client complaints are assessed fairly, promptly and impartially, and in line with the relevant legal and regulatory requirements with an emphasis on fairness to customers in accordance with AltCoinTrader’s Treating Customers Fairly Policy.

2. Key Principles

AltCoinTrader deems complainant feedback and complaints resolution to be of utmost importance in terms of its client-centric approach to business and takes responsibility for a quality service to clients based on accountability and transparency. Accordingly, AltCoinTrader is committed to:
  1. Informing complainants of their right to complain and how complaints can be made;
  2. Resolving complaints in a timely and fair manner, with each complaint receiving proper consideration;
  3. Managing complaints promptly, fairly, openly and effectively;
  4. Providing transparency regarding the rights complainants have as well as the handling of complaints.
  5. Informing complainants of any rights they may have to refer their complaints to a local regulatory authority, Ombudsman or equivalent if a complaint cannot be resolved to their satisfaction; and
  6. Maintaining a register of complaints and records of complaints received for a minimum period of five years from the date of the complaint in accordance with legislative requirements.

AltCoinTrader will not impose unreasonable barriers for clients or prospective clients who wish to provide feedback or complaints and will not impose a charge for complainants utilising the process.

3. Definition of a FAIS Complaint

A FAIS compliant means a specific complaint relating to a financial service rendered to the client on or after 12/04/2024 (the Date on which AltCoinTrader is granted its FSP licence by the FSCA) and the complaint alleges that AltCoinTrader;
  1. Contravened or failed to comply with a provision of FAIS and that, as a result the client has suffered or is likely to suffer financial prejudice or damage
  2. Wilfully or negligently rendered a financial service to the client which has caused prejudice or damage to the client or is likely to cause such damage or prejudice
  3. Treated the client unfairly;

4. Responsibilities

In accordance with the client complaints management process in place, it is the responsibility of one or more specified members of staff to oversee, implement and monitor complaints. Procedures are in place for the escalation of matters where appropriate.
The allocated staff member/s are required to have the appropriate level of authority, competence and resources to ensure the process is adhered to in a fair, objective and transparent manner.
Any conflict of interest that arises whilst handling complaints will be managed in accordance with AltCoinTrader’s Conflicts of Interest Policy.
Only staff members who are not directly involved in the matter, are not the subjects of the complaint and are free from any influence in relation to its resolution will be involved in the investigation and/or resolution of a complaint.

5. Complaints Procedure

Steps to follow
  1. The first step is to always contact AltCoinTrader Customer Support Support@altcointrader.co.za or alternatively phone +27 (0)11 568 2684 during office hours (09:00-16:00)
  2. If the issue is not resolved by the support team, clients can escalate their issue to the Support Team Manager (At whose discretion may escalate the complaint further and to the appropriate person to resolve the complaint) on request. If the complaint is a FAIS related complaint as defined above, clients can elect to lodge the complaint in writing on the official complaints page, located in the AltCoinTrader Help Centre: https://altcointrader.zendesk.com/hc/en-gb
  3. Should the complaint be a FAIS complaint there are specific timelines and procedures that AltCoinTrader must adhere to under the FAIS Act and the General Code of Conduct.
    1. AltCoinTrader must acknowledge the complaint within 3 weeks of receipt of the complaint in writing from the client.
    2. An appropriate senior representative at AltCoinTrader will review the complaint and attempt to resolve the complaint in a matter that is fair to all parties concerned. The complaint is to be resolved within 6 weeks of receipt of the complaint in writing.
    3. If the complaint is not resolved to the satisfaction of the client, the client has the option of lodging the complaint with the FAIS Ombud within 6 months of the notification of the ruling on the complaint by AltCoinTrader.
    4. After the Ombud has made a determination, the client or AltCoinTrader have 1 month to appeal the ruling.

PARTICULARS OF FAIS OMBUD

  • Telephone: 086 066 3274 or +27 (0)12 762 5000
  • E-mail address: info@faisombud.co.za
  • Postal address: P O Box 41, Menlyn Park, 0063

6. AltCoinTrader Handles Complaints in the Following Manner

  • Email to Support Team – Ticket number is automatically generated for the query/issue/complaint.
  • Phone call to Support Team – If the issue cannot be resolved immediately, Support Agent will lodge the ticket on the client’s behalf and issue email confirmation of the ticket and ticket number to the client.
  • If the issue cannot be resolved by first level support the ticket is assigned to the Support Team Manager.
  • If the Support Team Manager cannot resolve the issue the ticket is escalated to the relevant executive (E.g. Head of Compliance, COO, General Manager or other) for resolution.
  • If at any stage of the process after an original support ticket has been created the client wishes to log a formal complaint, they can do so through following the complaints procedure outlined above.

7. Contacts

Should you have any queries about the content of this policy please contact support@altcointrader.co.za