The FinancialCommission News
MTrading Granted Three Awards at the ForexRating.com Awards of 2021
February 8, 2022
Financial Commission broker member MTrading, has been granted three prestigious awards at the ForexRating.com Awards of 2021. The nominations bestowed were the ‘Most Valuable Affiliate IB Program’, the ‘Most Reliable Copy Trading Platform’, and ‘Outstanding Social Trading Network.’ ForexRating.com is a spotlight for the FX community to gain insight into the leading...
Learn more
UpTrader named the “Fastest Growing Social-Trading Platform” at the ForexRating.com Awards...
February 1, 2022
Financial Commission’s certified trading technology provider UpTrader, is elated to announce that they have been granted the award, 'Fastest-Growing Social Trading Platform' at the ForexRating.com Awards 2021. The awards heavily emphasize the most distinguished brokers and trading service providers in the industry, contributing profound insight on the leading platforms. A...
Learn more
Grand Capital Named The Winner For “Exceptional Customer and Partner Support”...
February 1, 2022
Financial Commission broker member Grand Capital has announced that they are the winner of the ForexRating.com award for demonstrating “Exceptional Customer and Partner Support.” The ForexRating.com Awards recognize FX brokers who maintain heightened commercial integrity, facilitate the best conditions for their customers and demonstrate exceptional business practices. A...
Learn more
ASIC Releases IDR Reporting Documents
July 19, 2021
The Australian Securities & Investments Commission (ASIC) has announced the publication of internal dispute resolution (IDR) reporting documents for a pilot project with registered companies for the second half of 2021. The goal of the pilot project is to streamline the IDR process across ASIC registered firms and the Australian Financial Complaints...
Learn more
ASIC Extends Temporary Relief for Foreign Brokers to 2023
June 29, 2021
The Australian Securities and Investments Commission (ASIC) announced this month that it is extending the temporary relief put in place for foreign financial service providers (FFSPs) that would otherwise be required to submit an application for a local Australian license. Such firms can now continue to operate in Australia until March 31,...
Learn more
German Police Announce Arrests of Scammers in Kosovo
April 22, 2021
German law enforcement has conducted a series of raids and arrests of alleged participants in fraudulent investment companies and brokers. According to a notice from the Bamberg Prosecutor General’s Office and the Police Headquarters in Schwaben, Germany some 18 people were arrested. The authorities apparently also conducted searches at 17 different...
Learn more
CMC Markets Halts Countdown Trading Ahead of ASIC Ban
April 13, 2021
The international brokerage CMC Markets has announced to its Australian clients that it will no longer offer Countdown trading on its platform ahead of the ban on binary options trading by the Australian Securities and Investments Commission (ASIC) that is coming into effect on May 3, 2021. The broker indicated that such...
Learn more
CySEC Publishes Broker Deficiencies in Regulatory Review
April 8, 2021
The Cyprus Securities and Exchange Commission (CySEC) has published a review of its Cyprus Investment Firms (CIF) and identified a number of deficiencies, as well as good practices among brokers it regulates. The regulator noted that most deficiencies are in risk assessment, monitoring activities and compliance and indicated that “the management...
Learn more
ASIC Bans Binary Options in Australia
April 5, 2021
The Australian Securities and Investments Commission (ASIC) announced last week that binary options trading in Australia will be banned starting on the 3rd of May 2021. The regulator indicated that its review of the binary options market in 2017 and 2019 showed that approximately 80% of traders lost money in binary options....
Learn more
US Man Pleads Guilty in Forex Scam
March 31, 2021
The U.S. Attorney’s Office for the Eastern District of New York yesterday announced the guilty plea of New York resident Tae Hung Kang, also known as “Kevin Kang,” in the securities fraud case related to a scheme involving foreign exchange trading that targeted members of the Korean-American community. The authorities indicated...
Learn more
Indian Police Bust Two Individuals in $1.7M Forex Scam
March 29, 2021
Police in India have reported that they have nabbed two suspects of an alleged Forex scam approximately worth up to $1.7M. Victims reported that they were contacted by unknown individuals and lured investors to “Deltin International Foreign Exchange in order to earn high profits.” The investigation and subsequent arrests were the...
Learn more
CySEC Issues New Warning Against Unauthorized Firms
March 25, 2021
The Cyprus Security and Exchange Commission (CySEC) has issued a new warning against unregistered firms operating under the guise of having a Cyprus Investment Firm (CIF) license. The websites in question are listed below: geverestfx.com cryptopros.ltd frankfurtfx.com bullishfxmarkets.com goeverups.com Investors are always advised to Check their broker before opening an...
Learn more
SEC Faults Bahamian Broker for Operating in US Illegally
March 24, 2021
The US Securities and Exchange Commission (SEC) has sued a Bahamian-based brokerage for illegally operating in the United States, according to a notice from March 22, 2021. The company MintBroker International Ltd., operating as SureTrader and headed by co-defendant Guy Gentile allegedly “operated an offshore broker-dealer that marketed its ability to help...
Learn more
Crackdown on Unauthorized Brokers Continues in Italy
March 22, 2021
Italy’s financial regulator - the Commissione Nazionale per le Società e la Borsa (CONSOB) has continued its efforts to protect its citizens from unregulated financial companies and possible online scams. The regulator announced on Friday that it has blocked five more websites of such firms and is advising all traders to take...
Learn more
Compensation for Failed UK Broker Clients Drags On
March 16, 2021
Administrators for failed UK brokerage SVS Securities have notified the public that compensation roll-out or payments may finally be coming this year. According to Finance Magnates, the administrator, Leonard Curtis, has scheduled a hearing to approve milestones in the administration process that may finally yield compensation payments to former clients of the...
Learn more
Financial Commission Appoints Sam Low to its Dispute Resolution Committee (DRC)
February 2, 2023
February 2, 2023, The Financial Commission today announces the appointment of Sam Low, Founder, and CEO of Liquidity Finder LTD, to its Dispute Resolution Committee (DRC). Enhancing the DRC structure Mr. Low is the 34th industry expert to join the Financial Commission’s DRC since its inception in 2013. The DRC consists of...
Learn more
Financial Commission Publishes Latest Case Examples Highlighting Common Dispute Themes in...
January 31, 2023
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...
Learn more
Financial Commission Publishes 2022 Annual Summary Highlighting Continued Membership Growth Amid...
January 25, 2023
January 25th, 2023, The Financial Commission today announces the results of its operations for the previous year with the publication of the 2022 Complaints Summary. The organization achieved record annual growth in key metrics, including new complaints filed and resolved during the year, while achieving an all-time record for quickest and efficient...
Learn more
Financial Commission Announces Baxia Markets as Latest Approved Member
January 18, 2023
January 18th, 2023, The Financial Commission today announces Baxia Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Baxia status as an...
Learn more
Financial Commission Reports Increases in Amounts Sought from Members and Average...
January 16, 2023
January 16th 2023, The Financial Commission today announces increases in several key metrics, including amounts sought from broker members and average complaint values, as well as rise in trading-related complaints as part of its quarterly Complaints Digest. The organization experienced a slowdown in new and resolved complaints, amounts sought from non-member brokers...
Learn more
Financial Commission Announces IdealFX Membership Withdrawn
December 27, 2022
December 27th, 2022: The Financial Commission today announces that the membership status of IdealFX has ceased following a voluntary withdrawal. IdealFX had been a member of the Financial Commission up until December 28th, 2022, when its membership was effectively withdrawn. The Financial Commission notes that it will not be able to process...
Learn more
Financial Commission Announces ThreeTrader as Latest Approved Member
December 19, 2022
December 19, 2022, The Financial Commission today announces ThreeTrader as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. ThreeTrader status as an Approved Broker Members...
Learn more
Financial Commission Announces Vida Markets as Latest Approved Member
December 13, 2022
December 13th, 2022, The Financial Commission today announces Vida Global Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Vida Global Markets...
Learn more
Meet Our Team at the FMLS 2022
November 9, 2022
November 9th, 2022 The Financial Commission will be exhibiting at the 2022 FinanceMagnates London Summit, which will take place on 21-23 November at Old Billingsgate in London, England. Valued broker members and interested parties are invited to join Commission representatives at our dedicated booth #106 to discuss the Financial Commission’s services for...
Learn more
Financial Commission Announces Vantage as Latest Approved Member
October 7, 2022
October 7th, 2022, The Financial Commission today announces Vantage as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Vantage status as an Approved Broker Members...
Learn more
Financial Commission Reports Increases in Amounts Awarded to Traders and Other...
October 4, 2022
October 4th 2022, The Financial Commission today announces increases in several key metrics, including amounts sought and awarded to traders, as well as improved dispute resolution times as part of its quarterly Complaints Digest. The organization experienced a rise in new and resolved complaints, amounts sought from non-member brokers, average complaint values...
Learn more
Financial Commission Announces TMGM as Latest Approved Member
September 22, 2022
September 22, 2022, The Financial Commission today announces TMGM as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. TMGM status as an Approved Broker Members...
Learn more
Financial Commission Expels Fiber Markets from Membership
September 9, 2022
September 9th, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces that it has expelled Fiber Markets from membership in the organization following a breach of contractual obligations. In order to maintain membership with the Financial Commission, member firms must strictly adhere to...
Learn more
Financial Commission Announces Execution Quality Certification of Bold Prime
September 2, 2022
September 2, 2022, The Financial Commission today announces execution certification for Bold Prime, an approved member of the Commission using Verify My Trade, a “value-added” service launched several years ago to promote pricing and execution transparency in the Forex market. Verified order execution quality Following the launch of order execution verification with...
Learn more
Financial Commission Announces Fullerton Markets as Latest Approved Member
August 22, 2022
August 22, 2022, The Financial Commission today announces Fullerton Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Fullerton Markets status as...
Learn more
Scam ALERT: Aviv Capitals Added to Warning List
February 3, 2023
Concerned traders have notified the Financial Commission regarding the company AvivCapitals (Avivcapital LTD) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As...
Learn more
Scam ALERT: Primax Trades Added to Warning List
February 2, 2023
Concerned traders have notified the Financial Commission regarding the company Primax Trades (Primax Trades Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
Learn more
Scam ALERT: O3FXCapital Added to Warning List
January 31, 2023
Concerned traders have notified the Financial Commission regarding the company O3FXCapital and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
Learn more
Scam ALERT: The Real FX Trade Added to Warning List
January 30, 2023
Concerned traders have notified the Financial Commission regarding the company The Real FX Trade (The RealFx Trade Ltd) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and...
Learn more
Scam ALERT: CryptoMargin Added to Warning List
January 27, 2023
Concerned traders have notified the Financial Commission regarding the company CryptoMargin (CryptoMargin LTD) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As...
Learn more
Scam ALERT: CZ ChangpengFX Added to Warning List
January 26, 2023
Concerned traders have notified the Financial Commission regarding the company CZ ChangpengFX and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such,...
Learn more
Scam ALERT: GrandCapital CG Added to Warning List
January 25, 2023
Concerned traders have notified the Financial Commission regarding the company GrandCapital CG (FutureArcPro Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
Learn more
Scam ALERT: IC MarketPros Added to Warning List
January 24, 2023
Concerned traders have notified the Financial Commission regarding the company IC MarketPros and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As...
Learn more
Scam ALERT: FlexTradingFX Added to Warning List
January 23, 2023
Concerned traders have notified the Financial Commission regarding the company FlexTradingFX (Flextrading Fx ltd) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
Learn more
Scam ALERT: CryptoFxIndex Added to Warning List
January 20, 2023
Concerned traders have notified the Financial Commission regarding the company CryptoFxIndex and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
Learn more
Scam ALERT: BinakFX Added to Warning List
January 19, 2023
Concerned traders have notified the Financial Commission regarding the company BinakFX (Binakfx Global Trade Ltd) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
Learn more
Scam ALERT: ZetBull Added to Warning List
January 18, 2023
Concerned traders have notified the Financial Commission regarding the company ZetBull and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
Learn more
Scam ALERT: FXCFSTraders Added to Warning List
January 17, 2023
Concerned traders have notified the Financial Commission regarding the company FXCFSTraders and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
Learn more
Scam ALERT: StrioTrading Added to Warning List
January 16, 2023
Concerned traders have notified the Financial Commission regarding the company StrioTrading and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
Learn more
Scam ALERT: C Market Trade Added to Warning List
January 13, 2023
Concerned traders have notified the Financial Commission regarding the company C Market Trade and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As...
Learn more