CAPETOWN, SOUTH AFRICA — TradersUnited (TRU) launched a pro-trader Dispute Resolution System (DRS) to assist traders in resolving broker conflicts efficiently and fairly.
The TRU DRS is a new, pro-trader, structured approach to addressing issues between traders and their brokers or service providers. Its
According to TRU South Africa Regional Director Lilebo Tibone, the platform highlights the organization’s pro-trader perspective and its mission to prioritize traders’ interests and uphold standards.
“The TRU DRS is hands down pro-trader,” says Tibone. “Our outlook is always in the best interest of traders, and our goal is to recover 100% of losses from unethical practices.”
The new system underscored TRU’s commitment to empowering traders and maintaining the highest standards of fairness and transparency in the trading community.
Disputes are inevitable but solvable
With the growing finance market (projected to surpass $13.3 billion in 2026), it’s not surprising that disputes are increasing and affecting more traders.
It has been proven time and again that conflicts are an inevitable part of trading. Conflicts between traders and brokers can arise for various reasons, such as transaction fees, account management issues, or allegations of unethical practices.
Moreover, disputes can happen to any kind of trader, whether they are investing in stocks, buying and selling currency pairs, or speculating on cryptocurrencies.
For brokers, this can be a logistical nightmare. While they will try to accommodate all disputes, resolving them through in-house systems requires time and resources to train staff and overhead costs. For many brokers, this just isn’t feasible.
“The growing number of potential disputes is not just about the brokers. Retail traders suffer from this more than anyone else,” Tibone said, addressing trader difficulty and inability to access reliable dispute resolution.
It doesn’t matter if the disputes are big or small. Resolving them is time-consuming and stressful.
TradersUnited developed the TRU Disputes Resolution System or TRU DRS as a solution.
“TRU DRS is meant to restore trust and confidence for traders that disputes can be resolved despite the volume of cases and legal system barriers between disputes,” said the TRU Regional Director.
The TRU Dispute Resolution System
The TRU DRS prevents conflicts for both traders and brokers. Its sophisticated system is based on a commitment to swiftly resolve conflicts and offer an outlet for open communication between the parties involved.
What is Dispute Resolution?
Dispute resolution is the processed used to resolve conflicts and disagreements between parties. This can include arbitration, mediation, and consolation.
The goal of dispute resolution is to find a mutually agreed-upon solution that satisfies all parties involved, and to avoid the need for prolonged and stressful conflict or litigation. For traders and brokers, this could mean a civilized way to hear each other out, figure out what went wrong, and reach a fair compromise.
How the Dispute Resolution System Works
The Dispute Resolution System is a dedicated platform that facilitates the mediation and resolution of conflicts between traders and brokers.
The TRU DRS stands as a neutral third party for possible conflicts and integrates a seamless process for traders and brokers to reach common ground. This ensures that a conflict is resolved fairly.
Filing a Complaint
Traders can report any conflicts or issues with their broker or service provider through the TRU DRS portal.
The trader should provide any necessary details about the dispute through a constructed questionnaire.
AI Integration for Independent Resolution
To report a complaint, a trader can access TRAVIS and file a complaint through the chat platform on the TRU Platform.
TRAVIS is the TRU Automated Virtual Service Bot and it is the first stop for filing a DRS claim. It is specifically programmed to help traders resolve common trading issues and troubleshoot any technical account problems with industry-standard solutions.
Case Escalation to Live Agent
“When TRAVIS Bot determines that human intervention is necessary, cases are escalated to a live agent,” Tibone exmaplined. “After all, TRAVIS is just there to support our DRS team members, not replace them.”
Tibone stated that the supporting data and documentation vary depending on the case. Traders are free to submit detailed information about the dispute, including trade screenshots and relevant error messages.
Meanwhile, sensitive account information is kept private unless specifically permitted by the complainant.
Broker-First Policy
The TRU Dispute Resolution System (DRS) operates on a broker-first policy, promoting direct communication and facilitating resolutions between traders and their brokers.
For brokers not affiliated with TRU, the system assists traders in independently handling the dispute resolution process. A DRS support agent provides traders with the necessary information to communicate more effectively with their brokers.
“When a TRU ally is involved, TRU DRS can serve as a negotiator, mediator, or arbitrator to resolve disputes efficiently and swiftly, bypassing court delays,” says Tibone.
In instances where the broker or service provider is unresponsive or uncooperative, TRU has the right to publicize the claim with the complainant’s consent.
Dispute Resolution for Trader Protection
In today’s online trading environment, it’s not unusual for traders to encounter misunderstandings with their brokers.
Regional Director Tibone has witnessed numerous losses throughout her career. “I think we’ve all been there before,” she acknowledges, “unauthorized trading, misrepresentation, excessive trading, and outright negligence from brokers. Sadly, many traders have faced these issues.”
Trader Melaine Tobin, a mid-level trader and recent member of TRU, shares similar experiences. She recalls a troubling encounter with a fraudulent broker that influenced her trading decisions.
“I was drawn into shady dealings with a dubious broker and ended up getting scammed. As the saying goes, ‘Once bitten, twice shy.’ I continued trading but with much more caution,” Tobin explains.
Tobin praises TRU’s Dispute Resolution System, calling it a game-changer in her trading journey. “TRU’s dispute resolution system has truly transformed my trading experience. I now trade with much more confidence knowing the DRS is there to help me,” she said.
TradersUnited’s Dispute Resolution System significantly advances trader support and protection. By offering a fair, efficient, and transparent resolution process, TradersUnited helps traders confidently focus on their trading activities.
“This launch reinforces our dedication to supporting the trading community and upholding the highest standards of ethical conduct,” said Tibone.
What is TradersUnited?
TradersUnited (TRU) is a community-led organization of traders. Established in 2023, the organization has since launched multiple pro-trader services with essential tools, resources, and support for traders to prosper in the trading world.
“TRU is a one-stop platform for all traders’ needs,” explained Tibone. “Our comprehensive suite of services includes educational resources, community engagement platforms, and a profit-sharing initiative.”
The South African regional director explains that the TRU DRS is a crucial support layer for member traders, ensuring they have a reliable avenue to resolve conflicts.
About TradersUnited
TradersUnited (TRU) is a community-led organization that aims to foster a better trading environment for all traders everywhere. They offer a wide array of services for traders such as TradeGeek, CommuniTrade, Dispute Resolution System, and UnityGains. For questions and inquiries, please contact TradersUnited at [email protected]
