January 31st, 2023, The Financial Commission today announces the publication of new case examples highlighting the dispute resolution process of the organization and common themes among disputes processed in the last 12 months. The examples provide a detailed overview of how complaints are investigated and resolved in a variety of situations that constitute legitimate trader complaints.
To review the newly published cases, please click here.
The examples published today provide a detailed analysis of customer’s orders based on market conditions and pricing information from a variety of independent sources in order to determine the accuracy in pricing and quality in execution of Forex, CFD (contracts for difference) and commodities trades.
In addition, cases published today indicate how the Financial Commission investigates and analyzes complex complaints, the substance of which deals with ever more sophisticated trading being conducted by broker clients, including the use of hedging strategies and automated trading tools. Given the increased complexity, the Financial Commission still continues to provide dispute resolutions on average in 5.6 days.
Such resolution efforts led to a compensation of over $5,800 in the highlighted case examples published today and over $238,000 awarded to complainants in total for the 2022 fiscal year.
The Dispute Resolution Committee continues to pay particular attention to trading-related cases and in light of the fact that traders around the world are increasingly sensitive to trade execution quality and pricing in their trading. The Committee also notes the continued expansion of digital currencies and equities trading, particularly fractional equities offered by brokers, which are becoming increasingly popular among retail traders.
The Financial Commission regularly publishes case examples for the trading community and brokers to review in order to understand the issues that often arise as a result of trading and the ways in which the organization resolved such issues between brokers and their customers. The publicly available information is valuable in both educating traders, as well as improving the services and products offered by brokers.
About Financial Commission
Founded in 2013, the Financial Commission is a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages, exchanges and Blockchain firms that participate in global foreign exchange (forex), derivatives, CFD and digital asset markets.
The Financial Commission provides efficient compliance solutions to its members, alongside its External Dispute Resolution (EDR) mechanism that serves as an effective channel for processing complaints from clients of member firms.
For more information please contact us at [email protected]