January 20, 2021, The Financial Commission today announces Lotas Capital 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.

Lotas Capital status as an Approved Broker Members of the Financial Commission took effect on January 20th, 2021, following the approval of its membership application by the Financial Commission, thus allowing the companies and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.

The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

For approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.

Lotas Capital joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.

About Lotas Capital

Lotas Capital was established in 2017 by professionals who have been at the forefront of the FX industry to bring a new pulse to the markets.  It serves 106 products including currency pairs, CFDs, stocks, cryptocurrencies. Lotas Capital aims to increase the financial literacy level of all investors with forex training, e-books, training videos, and online seminars. Lotas Capital has embraced trust, excellence in service, and diversity as founding purposes, and works to carry these principles into the future. The company’s vision is to provide the best service to customers by keeping the principle of trust which is the biggest deficiency in the Forex market

For more information about Lotas Capital, contact them directly.

About Financial Commission

Financial Commission is an independent external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes directly with their financial services providers that 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.

For more information please contact us at [email protected].

The Financial Commission has been notified by concerned traders regarding the companies and associated websites of EquitTrade, Fund-Max, Explicittradeworld, Forte Investment Company, Investflow (Seabreeze Partners Ltd.), DBFX LIMITED, Global FX Insurance, and Bitcoin Wealth Investment

 

 

Upon reviewing the submitted information from potential customers of these brokers, the Financial Commission has determined that the indicated companies and associated websites may be used to scam and defraud traders and investors. As such, the Commission does not recommend to do business with any of the above-mentioned companies neither individuals purporting to represent these brokers on social media and in private messages on popular messaging apps. Given this information, EquitTrade, Fund-Max, Explicittradeworld, Forte Investment Company, Investflow (Seabreeze Partners Ltd.), DBFX LIMITED, Global FX Insurance, and Bitcoin Wealth Investment placed on the Financial Commission’s Warning List.

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January 14th, 2021, The Financial Commission today announces the results of its operations for the previous year with the publication of the 2020 Complaints Summary. The organization achieved record annual growth in key metrics, as well as significant membership expansion during a challenging year impacted by the Covid-19 pandemic while maintaining a quick and efficient average dispute resolution time.

New records set in 2020

Other key metrics & accomplishments in 2020

Annual Complaints Summary

Key Takeaways

Conclusions

The Financial Commission mitigated disruptions caused by the global Covid-19 pandemic to continue providing quick and efficient dispute resolution services to traders and broker members in 2020. Market volatility events during the last year, including those in oil, gold, and equities markets provided for a hefty amount of new complaints for the organization and led to new records in operational metrics. 

The organization further expanded in the Middle East, with several new Turkish broker members, as well as the addition of a Turkish expert on the Dispute Resolution Committee. The organization’s free dispute resolution service to traders gained popularity in Asia, the Middle East, and Africa with new complaints from these regions growing 202%, 15%, and 14% respectively in 2020. The Financial Commission also saw a 17% decrease in complaints from Russia and former Soviet republics, as local market restrictions impeded the normal online trading operations FX and CFD traders have come to expect. 

The majority of complaints in 2020 were related to financial issues with 55% of the total, while trading related disputes accounted for 25%. The most popular topics for complaints dealt with funds withdrawal (31%), agreement breach (17%), price check (14%), and account blocking (6%). Of all resolved complaints, 52% were resolved “in favor of the broker” and 18% resolved “in favor of the client”, while 30% were found to be outside the organization’s jurisdiction. 

Heading into 2021, the Financial Commission sees continued global challenges from the Covid-19 pandemic, as well as political instability in the US as having a substantial impact on market prices and volatility in the near term and expects to continue to see elevated numbers of new complaints submitted by traders in 1Q 2021.  

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].

January 12th, 2021, The Financial Commission announces continued growth in submitted and resolved complaints, as well as compensation awarded to traders for December 2020 as part of its monthly Complaints Digest. The organization recorded a significant increase in resolved complaints, percentage of awarded compensation, and several other key metrics while achieving an average dispute resolution time of just 6.1 days.

Key monthly highlights for December 2020:

Month Over Month Comparison

Key Takeaways

Conclusions

Global impacts from Covid-19 continued to impact market volatility as investors looked to have embraced equity and shares Contracts for Difference (CFD) trading more so than traditional Forex. Continued interest in trading has supported the demand for dispute resolution services, as highlighted by several key metrics of the Financial Commission, including new complaints filed and total complaints resolved, average complaints values, and non-member compensation sought. While financial-related complaints continued to dominate, non-trading complaints jumped 39%, suggesting investors are having issues outside of traditional trading and funding or withdrawals. At the same time, the Dispute Resolution Committee (DRC) was able to rule a significantly higher number of complaints in favor of traders in December, as cases ruled in favor of clients jumped 100% month-over-month.

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].

The Financial Commission has been notified by concerned traders regarding the companies and associated websites of Antarigroup, EliteFx Trader Inc., 24tradeway, Wide Horizon Global Investment, ALU TRADER, Option Trade Investment, BlancoFX, GoldCoinXM, and NobleCoinInvestment,

 

 

Upon reviewing the submitted information from potential customers of these brokers, the Financial Commission has determined that the indicated companies and associated websites may be used to scam and defraud traders and investors. As such, the Commission does not recommend to do business with any of the above-mentioned companies neither individuals purporting to represent these brokers on social media and in private messages on popular messaging apps. Given this information, Antarigroup, EliteFx Trader Inc., 24tradeway, Wide Horizon Global Investment, ALU TRADER, Option Trade Investment, BlancoFX, GoldCoinXM, and NobleCoinInvestment placed on the Financial Commission’s Warning List.

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December 24, 2020, The Financial Commission today announces AmorFX 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.

AmorFX status as an Approved Broker Members of the Financial Commission took effect on December 24, 2020, following the approval of its membership application by the Financial Commission, thus allowing the companies and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.

The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

For approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.

AmorFX joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.

About AmorFX

With its team of experienced professionals, advanced technology, and knowledge in risk management, AmorFX LLC is a leading equity house that provides secure investment opportunities to investors in the leveraged trading market which includes retail FX and contracts for difference (CFDs).

Relying on its advanced technology and customer satisfaction code AmorFX aims at providing the best industry standards to its clients. All investors benefit from the same fair and ethical trading conditions regardless of their net capital size or the account type at AmorFx.

For more information about AmorFX, contact them directly.

About Financial Commission

Financial Commission is an independent external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes directly with their financial services providers that 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.

For more information please contact us at [email protected].

The Financial Commission has been notified by concerned traders regarding the companies and associated websites of United-Asset Finance, Cryptoberg, Fin888group, FX-Trade.com, Zenithwealth.net, Bfxtrading, Imarketstock, FXswith, Universe-Trade, and Finantiko

Upon reviewing the submitted information from potential customers of these brokers, the Financial Commission has determined that the indicated companies and associated websites may be used to scam and defraud traders and investors. As such, the Commission does not recommend to do business with any of the above-mentioned companies neither individuals purporting to represent these brokers on social media and in private messages on popular messaging apps. Given this information, United-Asset Finance, Cryptoberg, Fin888group, FX-Trade.com, Zenithwealth.net, Bfxtrading, Imarketstock, FXswith, Universe-Trade, and Finantiko, placed on the Financial Commission’s Warning List.

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December 15th,  2020, The Financial Commission announces a steady rise in values of submitted complaints, as well as compensation sought from traders for the month of November 2020 as part of its monthly Complaints Digest. The organization recorded a slight decrease in newly filed complaints for the month while experiencing growth in compensation sought, average complaints values, and several other key metrics while achieving an average dispute resolution time of just 6.8 days.

Key monthly highlights for November 2020:

Month Over Month Comparison

Key Takeaways

Conclusions

The US Elections have come and gone with a renewed focus in the financial markets on Covid-19 vaccinations and additional stimulus measures. Traders have returned to global markets in healthy numbers and the increased trader activity in global markets, including equities and Contracts for Difference (DRC) has supported the demand for dispute resolution services, as highlighted by the improvements in several key metrics, including total amounts sought, average complaints values and non-member compensation sought. While financial-related complaints continued to dominate, trading related complaints accounted for 22%, suggesting investors are back to finding trading opportunities following recent market uncertainties. At the same time, the Dispute Resolution Committee (DRC) was able to rule a significantly higher number of complaints in favor of brokers in November, as a large number of complex disputes remained unresolved at the end of the November statistical period.  

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].

Join us at our virtual booth on December 17th 2020!

Virtual Vision Finance
Virtual Vision Finance

December 14, 2020, The Financial Commission today announces its participation in the Virtual Vision Finance, which will take place online Thursday, December 17th 2020. All interested parties are invited to book a meeting and our virtual booth to discuss the Financial Commission’s services, which continue to help thousands of traders and brokers amid elevated market volatility and Covid-19 pandemic disruptions.

This unique event will be a follow-up to the successful Virtual Vision online event in June 2020, which brought together 100 exhibiting companies and over 5,000 attendees in a completely digital online experience featuring a virtual expo hall, live and recorded discussions and workshops.

The event will feature numerous speaking panels, including an opening keynote from CySEC Chairwoman Ms. Demetra Kalogerou, as well as industry executives speaking about the technical innovations, market liquidity, marketing and payments.

The Financial Commission will join over 20 other industry speakers, leading brokerage and fintech companies. To attend the event, simply register online.

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].

November 25, 2020, The Financial Commission today announces the appointment of Dr. Can Pamir, Founder, and CEO of Pamir Consultancy, to its Dispute Resolution Committee (DRC).

Enhancing the DRC structure

Mr. Pamir is the 33d industry expert to join the Financial Commission’s DRC – which consists of a diverse panel of industry professionals, who follow a non-bias protocol to process and resolve complaints from our members’ clients.

Financial Commission Chief Operating Officer, Nikolai Isayev commented on the appointment: “we are happy to welcome Can to our dispute resolution team. Given his extensive experience in the industry, particularly in education and marketing, and geographically in the Middle East region, he will be a valuable asset to the Dispute Resolution Committee in helping us continue our commitment to trader education and transparency for brokers.”

About Dr. Can Pamir

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.

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].

November 23, 2020, The Financial Commission today announces Titan FX 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.

Titan FX status as an Approved Broker Members of the Financial Commission took effect on November 23, 2020, following the approval of its membership application by the Financial Commission, thus allowing the companies and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.

The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

For approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.

Titan FX joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.

About Titan Fx

Titan FX puts traders first with advanced technology and leading customer service. Titan FX offers an advanced, technology-based approach to online trading – with ultra-tight spreads, no requotes, full ECN execution, absolute transparency, and the latest trading platform technology.

Titan FX offers a wide range of tradable instruments including FX, Commodities, Indices, Metals and soon to be released US Stocks.

Titan FX is a broker that cares. The company’s corporate social responsibility initiatives revolve around continued efforts to promote growth and positive influence in Vanuatu. Through company support and partnerships, Titan FX’s goal is to make improvements in Vanuatu contributing to its social and economic development.

Titan FX is licensed by the Vanuatu Financial Services Commission and a proud member of the Financial Markets Association of Vanuatu.

For more information about Titan FX, contact them directly.

About Financial Commission

Financial Commission is an independent external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes directly with their financial services providers that 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.

For more information please contact us at [email protected].

The Financial Commission has been notified by concerned traders regarding the companies and associated websites of GlobalspotFX (Trade Com Limited), Profit Assist (Seebreaze Partners Ltd.), Universe Trade, GenesisFXpool (GenesisFXpool Investment Co, Ltd (GFX)), GTFMarkets, (Global Trading Finance Markets LTD), Corex Brokers, FrankfurtFX, PFME Globals Inc, Stock Trading Capital LTD, BitFx Mining.

Upon reviewing the submitted information from potential customers of these brokers, the Financial Commission has determined that the indicated companies and associated websites may be used to scam and defraud traders and investors. As such, the Commission does not recommend to do business with any of the above-mentioned companies neither individuals purporting to represent these brokers on social media and in private messages on popular messaging apps. Given this information, GlobalspotFX (Trade Com Limited), Profit Assist (Seebreaze Partners Ltd.), Universe Trade, GenesisFXpool (GenesisFXpool Investment Co, Ltd (GFX)), GTFMarkets, (Global Trading Finance Markets LTD), Corex Brokers, FrankfurtFX, PFME Globals Inc, Stock Trading Capital LTD, BitFx Mining, placed on the Financial Commission’s Warning List.

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November 18th, 2020, The Financial Commission today announces Doto 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.

Doto status as an Approved Broker Members of the Financial Commission took effect on November 18th, 2020, following the approval of its membership application by the Financial Commission, thus allowing the companies and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.

The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

For approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.

Doto joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.

About Doto

Doto is an international broker for trading in financial markets. The company offers a wide range of assets for margin trading and long-term investing – from currency pairs to stock indices and individual stocks. Doto guarantees optimal execution prices and favorable financial conditions. The broker provides its customers with top trading software. The state license of the Republic of Mauritius confirms the reliability of the company.

For more information about Doto, contact them directly.

About Financial Commission

Financial Commission is an independent external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes directly with their financial services providers that 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.

For more information please contact us at [email protected].

November 16th,  2020, The Financial Commission announces a significant rise in its operating metrics for the month of October 2020 as part of its monthly Complaints Digest. The organization recorded a significant uptick in newly filed complaints for the month while experiencing growth in compensation awarded to traders, the compensation sought, and several other key metrics while achieving an average dispute resolution time of just 7.8 days.

Key monthly highlights for October 2020:

Month Over Month Comparison

Key Takeaways

Conclusions

As slow summer months have come and gone with Covid-19 global impacts and US elections continuing to influence market prices, the Financial Commission experienced a resurgence of complaints and requests for compensation in disputes from traders. The increased trader activity in global markets, including equities and Contracts for Difference (CFD) had increased the demand for dispute resolution services, as highlighted by the improvements in several key metrics, including new complaints filed, amounts sought and amounts awarded. While financial-related complaints continued to dominate, trading related complaints experienced a 20% rise month over month, suggesting investors are back to finding trading opportunities following a summer lull. At the same time, the Dispute Resolution Committee (DRC) was able to rule a significantly higher number of complaints in favor of clients in October, as the month over month total jumped 90% to 42 complaints from 22 in September.  

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].

November 2nd, 2020: The Financial Commission today announces that the membership status of Trade99 has ceased following a voluntary withdrawal.

Trade99 had met its obligations as a Financial Commission member up until October 30th, 2020, when its membership was effectively withdrawn.

Financial Commission notes that it will not be able to process any new complaints from Trade99, following its voluntary withdrawal of membership from the Financial Commission as of October 30th, 2020, and moving forward or until membership is approved again.

Furthermore, Trade99 clients will not be eligible for reimbursement from Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members, and subject to the ruling by our Dispute Resolution Committee. The compensation fund is designed to help protect members’ clients in exceptional cases and is funded by the Financial Commission from a portion of membership dues.

An updated list of current and prior members can be found on FinancialCommission.org, including members that have either been expelled or withdrawn voluntarily.

Financial Commission is a leading independent self-regulatory organization whose members include online brokerages and exchanges, across Forex, CFDs, derivatives and cryptocurrency markets, as well as certified providers and developers of trading platform technology used by members and their end-clients who are retail traders and investors.

Financial Commission requires that member firms strictly adhere to membership rules to maintain good standing on an ongoing basis. To learn more about our membership requirements and certification process, contact us or visit  https://financialcommission.org