The FinancialThe Financial Commission, a leading external dispute resolution (EDR) forum catering to the financial services industry, 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 orders based on market conditions and pricing information from a variety of independent sources to determine the accuracy in pricing and quality in the 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 continues to provide dispute resolutions on average in 6.6 days.
Such resolution efforts led to compensation of over $162,406 in the highlighted case examples published today and over $783,000 awarded to complainants in total for the 2023 fiscal year.
The Dispute Resolution Committee continues to pay particular attention to trading-related cases because 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 to understand the issues that often arise as a result of trading and how the organization resolves 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
The Financial Commission is an independent external dispute resolution (EDR) forum for consumers/traders who are unable to resolve disputes directly with their financial services providers who are members of the Financial Commission. The Financial Commission initially set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading electronic markets such as Foreign Exchange, and then expanded into CFDs and related derivatives, in addition to certifying technology platforms used for trading.