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Our Chargeback Policy
Our Chargeback Policy
Branden Abushanab avatar
Written by Branden Abushanab
Updated over a week ago

Initiating a chargeback against Smart Prop Trader will have negative repercussions to the trader's account standing on the platform as well as our business. Chargebacks can have significant negative impacts on fintech organizations for various reasons. Here are some key reasons why chargebacks are considered detrimental to fintech companies:

  1. Financial Losses: Chargebacks result in the reversal of transaction funds, causing direct financial losses to businesses. In addition to losing funds associated with the transaction, businesses often incur chargeback fees imposed by payment processors.

  2. Operational Costs: Handling chargebacks requires resources, including personnel, time, and technology, to investigate and respond to disputes.

  3. Damage to Reputation: Excessive chargebacks can harm a business's reputation. High chargeback rates may signal to customers, partners, and financial institutions that the business has issues with service quality, transaction security, or customer satisfaction.

  4. Fraud Risks: Chargebacks can be exploited by fraudsters as a tool for illegitimate activities. Some customers may intentionally initiate chargebacks as a way to obtain goods or services without paying.

Due to these challenges and more, Smart Prop Trader has a strict no chargeback policy with our customers. If we discover that a customer has initiated a chargeback against our platform, users will face the following repercussions:

  1. Payment Rejection: Any pending payouts to the trader will be declined.

  2. Account Closure: Your account with us will be permanently closed.

  3. Permanent Prohibition: Furthermore, you will be permanently prohibited from utilizing the Smart Prop Trader platform and our services in the future.

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