September 27th, 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 CFD markets, today announces execution certification for several additional broker members using Verify My Trade, a recently launched “value-added” service.
Verified order execution quality
Following the recent launch of order execution verification with Verify My Trade (VMT), the Financial Commission has issued execution quality certifications to FXOpen, Gerchik&Co, NPBFX and Olymp Trade.
The certified brokers will now submit order execution data to VMT on an ongoing basis to ensure that their order executions pass the standards set out for all members of the Financial Commission.
Check your broker’s status
All interested parties can now view the execution audit results for all members of the Financial Commission by visiting our Members page or the profile pages of brokers listed in our Members section. Certified brokers will be highlighted with a unique badge as displayed below.
By clicking on the badge users will navigate to a dedicated webpage for each broker that will indicate the last time an audit was performed, how many orders were analyzed and whether the results satisfied the order execution standards established by VMT.
What is the VMT Execution Certification service?
The Financial Commission has partnered with Verify My Trade to provide both brokers and customers the ability to assess the quality of order execution. Similar to the “best execution” requirements in major international jurisdictions, the certification service provides an added layer of transparency for brokers and their customers by highlighting the quality of trade executions. The voluntary and simple to use process analyzes historical trade data on a monthly basis to determine satisfactory trade executions overall.
If you are interested in using the VMT service or would like more information, please reach out to us at [email protected].