April 17, 2018, The Financial Commission, a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, and cryptocurrency markets, today announced new requirements for brokers who wish to join the Financial Commission as members.
Having experienced significant growth in 2017 with the addition of 11 new members, the Commission is taking steps to ensure the integrity and transparency of the organization for its members and the trading community going forward.
Brokers who wish to join the Commission will now be required to provide supplementary information to the organization for review. Applicants will need to show that they have been in operation for more than 3 years or provide professional references from a shareholder, director, senior officer or comparable officer of a Financial Services firm that has been in operation for more than 3 years.
Applicants who do not meet these criteria may still be considered for membership at the discretion of the Board of Directors provided that the applicant accepts any special requirements that the Board may introduce in order to ensure the protections offered by the Commission to clients and the safety of client funds.