The FinancialJune 8th, 2016 – Hong Kong & New York: The Financial Commission, a leading financial services external dispute resolution (EDR) organization, today announced the successful certification of the technology – Trader’s Room, provided by B2Broker LLC.
Using a rigourous review process to evaluate technical information requirements within the Trader’s Room backoffice, Financial Commission established a comprehensive list of points to verify including system security, capacity, business disaster recovery and continuity plan, as well as reporting and record keeping, among other fields deemed important to certify.
Trader’s Room backoffice
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B2Broker’s Trader’s Room system is directly integrated with the company’s trading platform and customer relationship management (CRM) system, and provides clients, partners, and administrators access to trade statistics, and other necessary reporting and account management tools.
Trader’s Room is an integrated back office solution that B2Brokers offers, and that also provides a simplified way for brokers to visualize all relationships in one place, while making necessary tools available to clients, partners and authorized company staff.
Need to Certify Backoffice and CRMs
As more brokers look externally for a complete trading platform solution that integrates backoffice and CRM functionality, in order to attract new clients and improve the conversion process – while keep costs under control – choosing a provider that has certified technology can be critical.
The reason for this need is parlty because best practices for technology providers can come under question as many providers fly under the regulatory radar and avoid the need to be regulated – even though they cater to sometimes regulated brokerage firms.
Therefore, the need to certify a technology provider’s products was deemed important by the Financial Commission as well as being considered an advantage by the firm’s that are willing to be transparent about their business processes in order to become certified.
Trader’s Room certifications
For B2Broker, the company had experienced recent growth in regions such as Asia, where the regulatory landscape is evolving in certain jurisdictions and the need for credibility and transparency is very important for clients.
Through the Trader’s Room portal, clients can upload documents, communicate directly with the broker, and engage in a number of interactions that all help improve their customer experience and benefitting the broker’s conversion process and bottomline.
In addition to serving retail traders and adminstrators, the product is described as very partner-friendly for Introducing Brokers (IBs) and White Label Partners who are able to carry out a number of operations within the product’s backoffice module, including opening and closing accounts, conducting transfers, and making desposits.
Financial Commission Chairman Peter Tatarnikov said regardng the new certification, “ In order to provide clients with fair dispute resolution we must fully understand their system’s construction and working process. B2Broker’s Trader’s room is the first account management system certified by the Financial Commission and we will be happy to see more software providers certifying their products with us. Today we gladly welcome B2Broker to our organization and believe it is a great step to leverage its credibility and grow its business globally.”
B2Broker’s CEO Artur Azizov commented regarding the certification, “Financial Commission is a well-respected company uniting the brokers and software providers who know that proper conduct will be the top value required in all dealings and providing its unique dispute resolution services to make forex markets more transparent, credible and effective. By joining the Financial Commission, we are demonstrating our commitment to upholding the highest standards of commercial honor and best business practices in conducting our business. We are proud to be a part of this initiative.”
About B2Broker LLC
B2Broker LLC was founded in 2014 by group of IT and FOREX-market professionals. Due to close teamwork with Metaquotes, Microsoft, Swissquote and many others the company developed unique ready-made solutions linked with one core idea: remove client’s needs for developing expensive and difficult solutions required for IT-infrastructure. Developing their products B2Broker was seeking to combine maximum efficiency and innovativeness that will afford its clients to anticipate requirements of fast-evolving brokerage market.
About Financial Commission
The Financial Commission is an external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes with financial services providers that are members of the Financial Commission. The Financial Commission set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading the Forex market. The Financial Commission was established to be a neutral 3rd party committee to fairly review and resolve complaints in an effort to facilitate a simpler, swifter resolution than through industry regulators and the legal system.
Technology developers seeking membership status with the Financial Commission can learn more about the process and expected requirements as part of the technology certification process in advance of applying for membership or in the preparation of submitting an application.
For more information, please contact The Financial Commission: [email protected]