The Financial Commission today announces Strifor as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.

 

 

Strifor status as an Approved Broker Members of the Financial Commission took effect on March 14th, 2024, following the approval of its membership application by the Financial Commission, thus allowing the company 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.

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

About Strifor

Strifor is a young broker that has already established itself as a trusted partner. The company’s credo is “We Always Pay,” which means the company always fulfills its obligations. The company’s mission is to create a culture of thinking for conscious trading in financial markets. Focused on brokerage services, Strifor facilitates CFD trading on a variety of assets including currencies, cryptocurrencies, indices and precious metals, offering over 250 trading options. The broker uses MT5, known as one of the most advanced and modern trading platforms, as its main trading terminal. Clients can choose from four types of trading accounts, with the entry-level account having no FD size restrictions. Margin trading is also available with a maximum leverage of 1:500.

For more information about Strifor, please contact them directly

About Financial Commission

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 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 today announces OT Platform as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.

 

 

OT Platform status as an Approved Broker Members of the Financial Commission took effect on March 7th, 2024, following the approval of its membership application by the Financial Commission, thus allowing the company 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.

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

About OT Platform

OT Platform is an online trading platform available on desktop and mobile that features various trading modes, dozens of financial instruments and effective analytical tools to help you learn trading fast.

For more information about OT Platform, please contact them directly

About Financial Commission

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 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 today announces Fusion Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.

Fusion Markets status as an Approved Broker Members of the Financial Commission took effect on March 6th, 2024, following the approval of its membership application by the Financial Commission, thus allowing the company 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.

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

About Fusion Markets

Fusion Markets is a low-cost Forex and CFD leader, built with the simple mission of providing the best trading conditions at the lowest costs. Serving tens of thousands of traders worldwide, Fusion Markets is a multi-award-winning platform recognized for delivering exceptional service at radically reduced costs. With 24/7 support, best-in-class platforms, and a range of unique features, Fusion Markets exemplifies that low costs don’t need to come at the sacrifice of quality; high-quality, low-cost trading can be accessible to all.

For more information about Fusion Markets, please contact them directly

About Financial Commission

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 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 today announces Ultima Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.

Ultima Markets status as an Approved Broker Members of the Financial Commission took effect on March 4th, 2024, following the approval of its membership application by the Financial Commission, thus allowing the company 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.

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

About Ultima Markets

Ultima Markets offers access to 250+ financial instruments as a leading CFD trading broker. With a tagline of “Ultimate Gateway of Trading,” we are a rapidly expanding, fully licensed, and regulated brokerage. Our advanced financial technology allows users to trade in Forex, Shares, Metals, Energies, Indices, and Cryptocurrencies. Serving clients in over 172 countries, our team comprises talented individuals from diverse backgrounds.

For more information about Ultima Markets, please contact them directly

About Financial Commission

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 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, a leading external dispute resolution (EDR) forum catering to the financial services industry, issues an update on its investigation of a recently uncovered scam when fake representatives mimicked The Financial Commission to defraud traders and extort money.

The Financial Commission previously warned the public regarding this group of fake representatives in its notice on 15 December 2023. 

Further investigation of this matter leads The Financial Commission to believe that such individuals, purporting to be The Financial Commission’s staff,  are targeting traders who have recently become victims of illegitimate brokers, having had their funds lost or withdrawals blocked for unsubstantiated reasons at such companies as Umarkets, TPG Deals, Universe Financial Brokers, Kiexo, Izzi, Your Global Deal, and others to offer a funds recovery and chargeback services.

For such a service, the individuals who represented themselves as being employees of The Financial Commission demanded a fee and, in some cases, provided letters of guarantee to the victims using fake companies that purported to provide legal services, such as Orbital Limited, Arbitrum Law Firm, AK Law, Guardians Recovery, and others.

In addition, the fake representatives mimicked contact details of legitimate and popular online digital asset wallet providers, including Blockchain.com and Coinwallet, to deceive the victims into sending fees for their fake services. 

To protect traders, The Financial Commission once again recommends the public and forex brokers’ clients to note the following:

The Financial Commission will continue to work with the public to identify and weed out potentially fraudulent activity and will take proactive steps to ensure the security of communication with traders. We encourage all traders to notify us of any individuals or entities that purport to represent The Financial Commission.

About The 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.

The Financial Commission today announces that the membership status of Alpari and FXTM has ceased following a voluntary withdrawal.

Alpari and FXTM have been members of the Financial Commission up until 27 January 2024, when their membership was effectively withdrawn.

The Financial Commission notes that it will not be able to process any new complaints from Alpari or FXTM traders, following the withdrawal of membership from the Financial Commission as of 27 January 2024, and moving forward or until membership is approved again.

Furthermore, as non-members, Alpari and FXTM clients will not be eligible for reimbursement from the Financial Commission’s compensation fund. The compensation fund can only be used by clients of approved members and is subject to the ruling of 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 our website, including members who have either been expelled or withdrawn voluntarily.

The 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.

About The 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.

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

The Financial Commission, a leading external dispute resolution (EDR) forum catering to the financial services industry announces the appointment of Ms. Opal Yang Founder and CEO of New Direction Solution to its Dispute Resolution Committee (DRC).

Enhancing the DRC structure

Ms. Yang is the 36th member industry expert to join the Financial Commission’s DRC since its inception in 2013. The DRC consists of a diverse panel of industry professionals, who follow a non-biased protocol to process and resolve complaints from our members’ clients.

Financial Commission Chief Operating Officer, Nikolai Isayev commented on the appointment: “I am excited to welcome Opal to our dispute resolution committee. Given her tenacious pursuit of protecting traders’ interests throughout her career and expert knowledge of the trader and broker landscape in Asian markets, she will be a valuable asset to our DRC committee in helping us tailor our mediation service to a wider group of traders and brokers in one of the fastest-growing regions of the world.”

About Opal J.Y. Yang

Ms. Opal Yang is a distinguished professional in finance and marketing, currently serving as the Founder and CEO of New Direction Solution, headquartered in London. With an illustrious career spanning two decades, Ms. Yang has held key management roles in prominent banking, asset management, and brokerage firms across diverse Asian markets and the United Kingdom.

Distinguished by its expertise in the Chinese-speaking markets, New Direction Solution stands as a premier consultancy firm committed to bridging the gap between the Far East and Europe. The firm specializes in delivering comprehensive financial services with a focus on broker licensing, merger and acquisition, fintech start-up consultation, and project management. Beyond its core services, the firm also excels in dispute resolution and managing complaints and compensations when necessary.

With a global perspective and localized expertise, the firm is poised to navigate the complexities of international finance, contributing to the success of its clients in the Far East and Europe.

About The 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.

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

The Financial Commission today announces VT Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.

VT Markets status as an Approved Broker Members of the Financial Commission took effect on January 30th, 2024, following the approval of its membership application by the Financial Commission, thus allowing the company 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.

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

About VT Markets

VT Markets, founded in 2015, is a global multi-asset CFD broker. The company’s mission is to build a next generation platform with superior trading environment for every trader across the globe. VT Markets is more than a platform, it is a place to capture market opportunities and achieve your own success. Join VT Markets and experience the difference today.

For more information about VT Markets, please contact them directly

About Financial Commission

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 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].

Concerned traders have notified the Financial Commission regarding the company PionexFX 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 Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, PionexFX will be placed on the Financial Commission’s Warning List.

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The Financial Commission today announces the results of its operations for the previous year with the publication of the 2023 Complaints Summary. The forum achieved significant growth in several key metrics, including amounts sought, awarded to traders, as well as complaints values during the year, while improvements in streamlining complaints submissions at member firms contributed to a decrease in overall complaints filed and resolved throughout the year. 

The forum also continued to bring on new broker members in key regions, as well as protect traders from the continued rise of online scams during a year of mixed market volatility and expanding geopolitical uncertainty. 

Key highlights & accomplishments from 2023:

Other key metrics 2023

Annual Complaints Summary

Click here to download

Key Takeaways

Conclusions

The Financial Commission continued to improve its already quick and efficient dispute resolution services for traders and broker members in 2023. Shifting global market price volatility and increased geopolitical uncertainty provided for continued interest in online trading, leading to an increase in the share of trading-related complaints for 2023. Improvements in streamlining complaints submission processes with broker members led to a decrease in overall complaints filed during the year with the share of non-trading complaints falling 65% year over year, helping traders get their disputes resolved quickly by their brokers.

The organization further expanded its membership ranks with new members in the Asia region. The organization’s free dispute resolution service to traders continued to be popular in Asia, with 46% of new complaints coming from this region. Notably, the EDR forum gained popularity in the Middle East, with a 24% share of new complaints, and in Latin America, whose share accounted for 10% of complaints in 2023. The Financial Commission also witnessed a 16% increase in complaints from African countries, as retail trading continues to grow in popularity in this region.

The majority of complaints in 2023 were related to financial issues with 49% of the total, while trading-related disputes accounted for 23% and non-trading-related complaints 29%. The most popular topics for complaints dealt with funds withdrawal (41%), account block (24%), price check (11%), platform issues (5%), and stop-out orders (3%). Of all resolved complaints, 32% were resolved “in favor of the broker” 12% were resolved “in favor of the client”, while 56% were found to be outside the organization’s jurisdiction. The share of complaints resolved in favor of traders was 30% higher than in the previous year.

Heading into 2024, the Financial Commission expects to see continued global demand for trading and investing, particularly among younger traders, with fiscal and geopolitical risks impacting the prices of currencies, and commodities, especially gold and equities through the year.  In this regard, the organization is prepared to handle a growing number of complaints from traders during the year. 

About Financial Commission

The 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 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.

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

Concerned traders have notified the Financial Commission regarding the company CGMD Miner 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 Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, CGMD Miner will be placed on the Financial Commission’s Warning List.

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Concerned traders have notified the Financial Commission regarding the company BluestarPros 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 Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, BluestarPros will be placed on the Financial Commission’s Warning List.

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Concerned traders have notified the Financial Commission regarding the company us24trades 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 Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, us24trades will be placed on the Financial Commission’s Warning List.

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Concerned traders have notified the Financial Commission regarding the company NFC-Wallet (NFC 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. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, NFC-Wallet (NFC LIMITED) will be placed on the Financial Commission’s Warning List.

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The Financial Commission today announces Vittaverse as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory forum, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. 

 

 

Vittaverse status as an Approved Broker Members of the Financial Commission took effect on January 18th, 2024, 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.

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

About Vittaverse

Vittaverse is more than just a brokerage; it’s a passionate team of financial enthusiasts on a mission to empower traders of all levels with an exceptional trading experience. The company’s journey began with a vision to revolutionize the way people access and engage with the financial markets. Today, Vittaverse stands as a dynamic platform that offers a diverse range of assets and cutting-edge tools to help traders achieve their financial goals.

For more information about Vittaverse, please contact them directly

About Financial Commission

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 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].