London-summit_Logo The Financial Commission, operated by FinaCom PLC, is pleased to report that it has concluded a successful event after participating in the Forex Magnates London Summit last week, on November 18th and 19th.

 

The event – visited by over 1000 attendees – is one of the few places where industry professionals from the online brokerage space are able to meet and discuss key challenges and developments affecting financial services firms that cater to traders in forex, CFD, Binary options and Cryptocurrency markets.

Financial Commission Exhibitor Booth

Juan Pablo Jutgla booth
Juan Jutgla CEO Better Way Consulting

and Peter Tatarnikov COB Financial Commission

Zack Ioannou VP Financial Commission

 

Broker-Members of the Financial Commission were able to meet with the organization’s representatives, including DRC members who were present at the event and had visited the Commission’s dedicated exhibitor booth.

akin abbak booth2
Akin Abbak Managing Partner Abbak Attorneys at Law

and Peter Tatarnikov COB Financial Consulting

Zack Ioannou, Akin Abbak and Peter Tatarnikov

 

In addition to exhibiting at the event, where Commission staff interacted and provided educational information to attendees on the benefits of joining the Financial Commission, a presentation was also held by the organization’s Chairman, Peter Tatarnikov.

Presentation Regarding Ibinex

booth4 booth3

 

Financial Commission Chairman Peter Tatarnikov conducted a presentation explaining the commission’s role in providing compliance oversight to Ibinex – a newly developed Cryptocurrency ECN – that is set to go live as a solution for brokers in coming months.

The launch of Ibinex and the role that the Financial Commission has in supporting the exchange’s operation had been previously announced, and the preliminary feedback after the presentation at the event showed that a lot of companies are interested in a Cryptocurrency product that could be packaged via a regulated exchange such as Ibinex.

In addition, Chairman Tatarnikov highlighted the role that the Financial Commission plays in helping to support brokerages and their clients by providing a non-biased solution tailored specifically based on the financial products offered, and how the Commission can help provide added value in the customer-broker relationship journey.

Comments On Outcome of Event

While the event has just concluded, Chairman Tatarnikov commented regarding the outcome, “The Financial Commission has a proven business model for some time already, considering the number of brokers who have joined as members and the cases we have processed, so the ability for us to explain these benefits to attendees at the Forex Magnates London Summit was a fantastic platform to get our message out. That message is simple, we can help the industry solve a common challenge of mediating client disputes when all else fails, and this is key to helping improve or manage customer relations in such cases.”

Just as participation in the Forex Magnates London Summit last year had led to a number of improved business developments, this year’s event was perceived just as beneficial since interest and feedback was positive from industry participants, and the event saw a high number of attendees.

For more information on the latest developments and to learn more about the Financial Commission, please contact us today.

London-summit_Logo The Financial Commission, operated by FinaCom PLC, is pleased to report that it has concluded a successful event after participating in the Forex Magnates London Summit last week, on November 18th and 19th.

 

The event – visited by over 1000 attendees – is one of the few places where industry professionals from the online brokerage space are able to meet and discuss key challenges and developments affecting financial services firms that cater to traders in forex, CFD, Binary options and Cryptocurrency markets.

Financial Commission Exhibitor Booth

Juan Pablo Jutgla booth
Juan Jutgla CEO Better Way Consulting

and Peter Tatarnikov COB Financial Commission

Zack Ioannou VP Financial Commission

 

Broker-Members of the Financial Commission were able to meet with the organization’s representatives, including DRC members who were present at the event and had visited the Commission’s dedicated exhibitor booth.

akin abbak booth2
Akin Abbak Managing Partner Abbak Attorneys at Law

and Peter Tatarnikov COB Financial Consulting

Zack Ioannou, Akin Abbak and Peter Tatarnikov

 

In addition to exhibiting at the event, where Commission staff interacted and provided educational information to attendees on the benefits of joining the Financial Commission, a presentation was also held by the organization’s Chairman, Peter Tatarnikov.

Presentation Regarding Ibinex

booth4 booth3

 

Financial Commission Chairman Peter Tatarnikov conducted a presentation explaining the commission’s role in providing compliance oversight to Ibinex – a newly developed Cryptocurrency ECN – that is set to go live as a solution for brokers in coming months.

The launch of Ibinex and the role that the Financial Commission has in supporting the exchange’s operation had been previously announced, and the preliminary feedback after the presentation at the event showed that a lot of companies are interested in a Cryptocurrency product that could be packaged via a regulated exchange such as Ibinex.

In addition, Chairman Tatarnikov highlighted the role that the Financial Commission plays in helping to support brokerages and their clients by providing a non-biased solution tailored specifically based on the financial products offered, and how the Commission can help provide added value in the customer-broker relationship journey.

Comments On Outcome of Event

While the event has just concluded, Chairman Tatarnikov commented regarding the outcome, “The Financial Commission has a proven business model for some time already, considering the number of brokers who have joined as members and the cases we have processed, so the ability for us to explain these benefits to attendees at the Forex Magnates London Summit was a fantastic platform to get our message out. That message is simple, we can help the industry solve a common challenge of mediating client disputes when all else fails, and this is key to helping improve or manage customer relations in such cases.”

Just as participation in the Forex Magnates London Summit last year had led to a number of improved business developments, this year’s event was perceived just as beneficial since interest and feedback was positive from industry participants, and the event saw a high number of attendees.

For more information on the latest developments and to learn more about the Financial Commission, please contact us today.

10 Steps Traders Should Take When Choosing a Broker

The steps for choosing a broker may vary from person to person depending on their unique needs, styles, and level of acceptable risk, including the geographical locations involved. However, there are several aspects of the due diligence process that we will highlight here in order to provide traders with some universal advice on selecting brokers, most of which apply regardless of objectives and personal preferences.

  1. Education and free demo account. Broker provides some kind of education for their clients in the form of books, articles, webinars, youtube video or one-on-one help. They offer demo accounts for software especially if you are not familiar with their trading platform. Some companies do more and offer a multistep education to make sure their clients understand the trading before they put real money on the market
  2. They never offer high returns along with low risks. Neither they guarantee your money.
  3. They don’t offer employment opportunity in Forex Trading while asking you to pay for the courses to become their employee.
  4. It’s a good sign if the company is regulated or is a member of self-regulated and well known organization in the industry like Financial Commission.
  5. Make sure that company has an office where you can come and see real people working.
  6. Transparent organizational structure and management. This information should be obtainable if not already listed on the broker’s website,
  7. Partnerships with reputable service and liquidity providers
  8. Easily accessible legal documents, such as agreements and policies
  9. Same legal entities should be  used for trading and financial transactions
  10. Make sure that major terms of business are properly describe, so you understand the following:

Putting It All Together:

As described earlier in the list of items to look for when choosing a broker, since the process is not an exact science and will vary for each trader and depending on the broker they are considering, the important thing to remember is to put all the information together and see the whole picture.

If there are more bad signs than good, that could be a cause for either more due diligence or looking elsewhere. Whereas, if the positive attributes outweigh any perceived risks, then the trader will need to discern based on their personal judgment and seek counsel or guidance if needed.

The Financial Commission aims to educate traders in order to help improve their trading experience by arming them with information that they can use when making informed decisions such as choosing a broker, and believe that using the steps described in the above list is an example of one such approach.