How to Complain About a Broker Properly: Broker, Then Regulator, Then Ombudsman

The short answer

Complain in this order:

1. The broker, in writing. Use the word “complaint”. Ask for a final response.
2. The ombudsman or dispute scheme that covers the broker’s licence, if the answer is no, or too slow. In the UK that’s the Financial Ombudsman Service, in Australia AFCA, in the EU your country’s FIN-NET member. These schemes are usually free for you.
3. The regulator (and police, for fraud): report it alongside, so the firm is on their radar. A regulator usually doesn’t settle your individual dispute, but your report matters.

Before you start: check which company and which licence your account is really with. It’s often not the brand on the app. See how to check a broker’s licence and regulation tiers. The licence decides which ombudsman, if any, can help.

Step 1: complain to the broker properly

A chat message saying “where is my money??” is easy to ignore. A formal complaint usually isn’t, because licensed firms have to handle complaints in a set way. The UK regulator, for example, says firms it authorises “must have a process in place for resolving complaints” and that “In general, firms must get back to you in writing to let you know the outcome of your complaint within 8 weeks.” (FCA, How to complain)

Evidence to gather first

• Account number, the legal name of the company, and its licence number.
• Every relevant ticket number or trade ID (from MT5’s History tab).
• Screenshots: the error, the withdrawal status, the balance before and after.
• Payment receipts for deposits and withdrawals.
• All emails and chat logs, with dates.
• The clause of the terms the broker is relying on, if they named one.

A simple complaint template

Send it by email to the complaints address in the broker’s terms (not only in a chat), and keep a copy. Stay polite and factual. Angry messages give the firm an easy way to avoid the point.

For the common causes, read these first: broker won’t process my withdrawal, withdrawal pending: what normally happens and broker cancelled my profit.

Step 2: the ombudsman or dispute scheme

If you get a “no” you disagree with, or no answer in the time allowed, take it outside the firm. Below are the official routes we checked on 5 November 2026. We only state time limits where the official page states them.

United Kingdom: Financial Ombudsman Service (FOS)

• Complain to the business first. For most complaints, the FOS says “a business has up to 8 weeks to consider a complaint”.
• The service is free: “Our service is free and easy to use.”
• Time limit: “You will need to make a complaint to us within 6 months from the date on your final response.”
• Start here: financial-ombudsman.org.uk: how to complain. Phone: 0300 123 9 123, or +44 20 7964 0500 from abroad (contact page).
• The FCA’s page adds that you can check a firm on the Financial Services Register, and that using a claims company isn’t needed: “It’s free and simple to make a complaint yourself.” (FCA)

Australia: Australian Financial Complaints Authority (AFCA)

• AFCA describes itself as “a free, fair, and independent service that helps consumers and small businesses resolve complaints about financial firms”.
• First step: “Contact your financial firm first, they may be able to resolve the issue quickly.”
• AFCA can’t help if the firm “is not an AFCA member”, if a court has already decided, or if the complaint is outside its rules or “the relevant time limits”.
• Start here: afca.org.au: make a complaint. Free call 1800 931 678 (8am–6pm AEST/AEDT weekdays, as the page states).

European Union, Iceland, Liechtenstein, Norway: FIN-NET

FIN-NET is a network of national organisations that settle consumers’ financial complaints out of court. Its official page is on the European Commission’s website, and it says FIN-NET is not an EU agency. For a complaint about a provider in another EEA country, its official page gives three steps:

1. “Write to your provider.”
2. If unhappy with the answer, or no answer, fill in the FIN-NET form for cross-border complaints.
3. Send it to a FIN-NET member in your own country or the provider’s country.

The page says “Most FIN-NET members can help you free of charge or at a low cost” and that providers “are usually not obliged to follow the decisions of FIN-NET members, but most do tend to do so voluntarily”. It also warns that if someone contacts you pretending to be from FIN-NET and offers a refund or help to recover money, “this is an attempted scam”.

• Start here: FIN-NET: make a complaint about a provider in another EEA country and the members by country list.

India: SEBI SCORES, only for SEBI-regulated entities

• SCORES is SEBI’s online grievance platform for complaints “against SEBI regulated entities like listed companies, Registered Intermediaries and Market Infrastructure Institutions”. It says investors “shall first take up their grievances for redressal with the entity concerned”.
• SCORES also says: “Any Grievance sent through email to any of the SEBI e-mail addresses will not be attended to / entertained. Please lodge your grievance through this portal only.” Toll free: 1800 22 7575 (as shown on the portal).
• Start here: scores.sebi.gov.in. The portal also refers to a SEBI circular of 20 September 2023 that links SCORES to an online dispute resolution (ODR) platform.
• An offshore CFD or forex broker is not a SEBI-regulated entity, so SCORES can’t take that complaint. For losses on offshore apps, the official routes are the 1930 cyber-fraud helpline, cybercrime.gov.in, your bank and RBI Sachet: see lost money on an offshore trading app (India).

Other countries

Look up the broker’s licence on its regulator’s own website. The regulator’s site usually names the complaints or ombudsman scheme for the firms it licenses. Our country guides link the regulators.

Step 3: report to the regulator and police

• Regulator: report the firm, especially if it isn’t licensed, is a clone, or is breaking its rules. This doesn’t usually get your money back, but helps stop the firm harming others. See clone firms and fake websites.
• Police or national fraud line: for scams, missing deposits and fake platforms.
• Your bank or card provider: ask about stopping or disputing payments, as early as possible.

If the broker is offshore or unlicensed

There may be no ombudsman that can take the case. That’s one of the biggest risks of using an unregulated firm, and it’s why we explain what protection each regulation tier really gives. Still:

1. Complain in writing and keep everything.
2. Contact your payment provider.
3. Report to the police and the regulator in your country.
4. Never pay anyone to recover your money. Regulators, ombudsmen and FIN-NET don’t charge for this. Read fund recovery scams.

Common mistakes

1. Only complaining in a live chat. Use email, use the word “complaint”, and ask for a final response.
2. Missing the deadline. In the UK, it’s 6 months from the final response for the FOS.
3. Complaining to the wrong scheme. It depends on the licence of the company holding your account, not where the app’s adverts are.
4. Paying a “claims” or “recovery” company. The official routes above are free or low cost.
5. Deleting evidence or closing the account before you’ve saved your history.

Sources (all checked 5 November 2026)

• Financial Ombudsman Service, How to complain (8 weeks for most complaints; 6 months from the final response; free) and Contact us (phone numbers).
• FCA, How to complain (last updated 20/05/2025): firms’ complaint process, 8 weeks, FOS within 6 months of the final response, free to complain yourself.
• AFCA, Make a complaint (read in a browser because the site blocks automated fetches): free, fair and independent; contact the firm first; when AFCA can’t help; 1800 931 678.
• European Commission, FIN-NET: make a complaint about a provider in another EEA country: 3 steps, free or low cost, decisions usually not binding, scam warning.
• SEBI, SCORES: SEBI-regulated entities only, entity first, portal only, toll free number, circular of 20 September 2023 on linking SCORES to ODR.
• Not stated on purpose: award limits or compensation caps for any scheme, AFCA’s time limits, and FIN-NET members’ individual rules. Check them on the official pages above.

Educational content only, not legal or financial advice. Trading gold with leverage carries a high risk of loss.

Frequently asked questions