The FinancialIn continuing our mission to create a more credible FX industry overall and specifically helping traders get knowledge and education, the Financial Commission has begun accepting applications from education providers that wish to have their educational offering examined by Financial Commission for the purposes of meeting a set of standards that Financial Commission has developed to ensure traders have access to the best educational materials.
By obtaining certification your firm can:
Improve the quality of your educational services
Incorporate industry best practices
Build trust with your clients
Following a successful certification of the educational offering, the education provider will be listed as an approved Education Provider.
Education Providers
Applicants will have the opportunity to provide their educational materials for a comprehensive review by the Financial Commission Certification Board and submit a questionnaire for due diligence. Our experts will review the content of the educational courses based on their accuracy, level of comprehension, balance of risk and reward, appropriateness of trading strategies and best practices that are important to educating traders.
Once the materials have been reviewed, the Financial Commission will issue a review to the applicant to highlight its findings and may recommend changes to the educational materials that could help traders more easily understand and learn the markets. In such cases, the provider will be given 15 business days to complete the amendments and provide to the Financial Commission for final review prior to certification.
Certification will only be issued if an applicant is able to demonstrate that all their educational materials meet the requirements that Financial Commission has requested and to a degree that satisfies Financial Commission’s standards for education providers.
Education providers will be required to provide answers to specific questions designated by the Commission’s Certification Board, including, but not limited to the following:
- Material’s author(s)
- Author(s) credentials
- Materials last updated date
- Display of risk loss disclaimers
- Number of hypothetical trade examples (total)
- Number of hypothetical trade examples resulting in a loss
- Number of hypothetical trade examples resulting in a profit
- Source of price charts in educational materials
- Source of pricing in price charts in educational materials
- Price of educational offering (if sold to users)
- Whom is the educational offering provided to?
The full list of items will be provided to eligible applicants who submit a formal request to Financial Commission.
In order to initiate the Educational offering certification process, a firm can submit an email request to the Financial Commission where it will be furnished with a certification agreement and list of documents and materials required by the Financial Commission to evaluate the applicant for Educational certification.
At the start of certification the applicant must respond to the Document Request List within 10 business days of its receipt and provide access to existing or new educational materials offered to customers, in order to demonstrate timely compliance. Financial Commission will then proceed to the discovery segment of the certification where the Financial Commission will review all educational materials and may ask additional questions in order to help satisfy any outstanding items as indicated by the Commission.
Once the applicant reviews the Commission’s findings and makes any recommended changes in their educational materials, the Financial Commission can issue the Education provider certificate for successful applicants.