May 3rd, 2022: The Financial Commission today announces that the membership status of GANN Markets has ceased following a withdrawal.

GANN Markets had been a member of the Financial Commission up until April 29th, 2022, when its membership was effectively withdrawn.

The Financial Commission notes that it will not be able to process any new complaints from GANN Markets, following its withdrawal of membership from the Financial Commission as of May 2nd, 2022, and moving forward or until membership is approved again.

Furthermore, GANN Markets clients will not be eligible for reimbursement from the Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members, and is 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current and prior members can be found on FinancialCommission.org, including members that have either been expelled or withdrawn voluntarily.

The 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.

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

April 20th 2022, The Financial Commission today announces increases in new filed and resolved complaints, as well as amounts sought from broker members as part of its quarterly Complaints Digest. The organization also experienced a slight uptick ini already swift average dispute resolution times, with a 6.3 days average for the quarter.

Key highlights for 1Q 2022:

Quarter Over Quarter Comparison

Key Takeaways

Conclusions

Demand for retail trading continued to impact several key metrics of the Financial Commission in the first quarter of 2022. An increase in newly filed complaints and increases in resolved complaints suggest traders are continuing to try and take advantage of market opportunities with the Dispute Resolution Committee (DRC) continuing to process a significant amount of complaints in the first quarter of the year. The DRC was able to award a smaller amount of compensation to traders than in the previous quarter while experiencing a jump in the amounts sought by traders from broker members during this time.  Financial-related complaints increased by 40%, which indicates a significant rise in disputes related to funds withdrawal. At the same time, complaints listed in the most valuable category ($10K+) jumped 70% in 1Q 2022, highlighting the continued importance of the organization to investigate complaints with a significant monetary value. During the quarter, the DRC was able to resolve 3% more complaints than in the previous period with fewer complaint investigations and decisions carried over into 2Q 2022, while maintaining exceptional average resolution times, which still continue to outpace alternative EDR services. 

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].

April 15th, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces that it has expelled EGMarkets 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 membership rules and all members agree to comply with Financial Commission rules as one of the many prerequisites for initial membership approval and to maintain good standing.

EGMarkets Expelled

Effective April 13th, 2022, EGMarkets were expelled from membership with the Financial Commission due to repeated violations of the membership Rules and Guidelines specific to the payment of membership dues. 

Furthermore, EGMarkets clients will not be eligible for reimbursement from the Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members, and is subject to the ruling by our Dispute Resolution Committee.

The Financial Commission notes that it will not be able to process any new complaints from EGMarkets clients’, following its expulsion from the Financial Commission as of the date of this announcement and moving forward.

As Financial Commission is an industry-supported self-regulatory organization (SRO) our enforcement of member compliance is reflected entirely within our membership standings where a firm’s integrity and adherence to rules must be strictly upheld in order for membership to be maintained.

For more information about Financial Commission membership requirements, please contact us or visit www.FinancialCommission.org.

March 29, 2022, The Financial Commission today announces Agra 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.

 

 

Agra Markets status as an Approved Broker Members of the Financial Commission took effect on March 29, 2022, 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.

Agra Markets 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 Agra Markets

Agra Markets is specializing in online trading systems and was established by industry professionals working in the fields of brokerage, banking and financial technology. With more than fifty years of combined experience in the financial investment industry, these people have gathered together to bring excellence of service and liquidity to the forex market space. Innovative minds in technology and financial modeling have enabled the company to break down barriers in global capital markets through know-how financial technology.

Agra work closely with its clients to ensure that their requirements are satisfied and deliver top quality service, ultra fast execution, competitive prices as well as low cost access to foreign exchange markets, metals, commodities and indices and many more trading instruments. Company’s main target is to deliver customer oriented first class service.

For more information about Agra Markets, 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].

March 11th, 2022: The Financial Commission today announces that the membership status of Samtrade FX has ceased following a withdrawal.

Samtrade FX had been a member of the Financial Commission up until March 10th, 2022, when its membership was effectively withdrawn.

Financial Commission notes that it will not be able to process any new complaints from Samtrade FX, following its withdrawal of membership from the Financial Commission as of March 10th, 2022, and moving forward or until membership is approved again.

Furthermore, Samtrade FX 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

March 07, 2022, The Financial Commission today announces DegerFX 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.

DegerFX status as an Approved Broker Members of the Financial Commission took effect on March 07, 2022, 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.

DegerFX 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 DegerFX

DegerFX is a licensed brokerage house where you can safely perform your forex transactions. Providing individual and institutional forex services in local and global markets, DeğerFX has adopted the principle of offering its investors the right trading opportunities at the right time, world-renowned liquidity providers, fast order transmission and accurate pricing.

For more information about DegerFX, 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].

March 1st, 2022: The Financial Commission today announces that the membership status of ZotaMarket (ZotaTrade) has ceased following a withdrawal.

ZotaMarket had been a member of the Financial Commission up until March 1st, 2022, when its membership was effectively withdrawn.

Financial Commission notes that it will not be able to process any new complaints from ZotaMarket, following its withdrawal of membership from the Financial Commission as of March 1st, 2022, and moving forward or until membership is approved again.

Furthermore, ZotaMarket 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

February 15th, 2022 The Financial Commission will be exhibiting at the 2022 IFX Expo Dubai which will take place on 22-24 February at the Dubai World Trade Centre. Valued broker members and interested parties are invited to join Commission representatives at our dedicated booth #114 to discuss Financial Commission’s services for online brokers, exchanges and fintech firms.

 

 

Financial Commission representatives will be ready to showcase the organization’s membership and certification options, as well as new value-added services from companies such as YourBourse, FinWizard and GETID. Attendees will also be able to get insights into Financial Commission’s record-breaking operating metrics for 2021 and find out how its external dispute resolution service helps thousands of traders in various ways each year.

Financial Commission Chief Operating Officer, Nikolai Isayev said: “We are glad to be attending the IFX EXPO in Dubai again, as the event has been successful for us last year and brings together the most important industry leaders and innovative companies from the MENA region.”

The organization joins a list of more than 100 confirmed exhibitors and representatives from hundreds of financial services providers including retail brokers, fintech providers, prime brokers and payment technology leaders expected to attend the exclusive industry gathering.

About Financial Commission

Founded in 2013, the Financial Commission is a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, CFD and digital currency markets.

Financial Commission provides efficient compliance and certification 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.

To schedule an appointment with our representatives at the IFX Expo International, please email [email protected].

February 10th, 2022, The Financial Commission today announces Inveslo 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.

 

 

Inveslo status as an Approved Broker Members of the Financial Commission took effect on February 10th, 2022, 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.

Inveslo 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 Inveslo

Inveslo is a globally trusted financial service provider across forex, commodities, indices & cryptocurrencies. Bringing financial expertise of 22 years through a highly capable team and resources committed to revolutionizing trading experience in the financial world with quality trading tools, technology-oriented services, the safety of funds, and 24/7 dedicated customer support.

For more information about Inveslo, 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].

February 7th, 2022, The Financial Commission today announces ExpertOption 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.

 

 

ExpertOption status as an Approved Broker Members of the Financial Commission took effect on February 7th, 2022, 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.

ExpertOption 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 ExpertOption

ExpertOption is a popular online broker offering trading in different financial instruments. The Company has an excellent trading platform that is easy enough for beginners while also offering enough features to please even the most experienced traders. Any trader can start online trading by taking advantage of low-deposit accounts as well as free demo accounts to hone their skills and explore the platform prior to investing any real money. The Company provides excellent customer support and offers a complete range of advanced analytical tools which help traders to make informed decisions. The security of clients’ funds and fast withdrawal procedure makes this trading platform a prime choice for traders.

For more information about ExpertOption, 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].

January 17, 2022, The Financial Commission today announces the results of its operations for the previous year with the publication of the 2021 Complaints Summary. The organization achieved record annual growth in key metrics, as well as continued membership expansion during another challenging year impacted by the Covid-19 pandemic while maintaining a quick and efficient average dispute resolution time.

New records set in 2021

Other key metrics & accomplishments in 2021

Annual Complaints Summary

 

Key Takeaways

Conclusions

The Financial Commission continued to provide quick and efficient dispute resolution services to traders and broker members in 2021 despite continued global disruptions related to Covid-19. Continued demand from retail traders and new investors provided for a record amount of new complaints for the organization and led to new records in operational metrics. 

The organization further expanded its membership ranks with large, internationally recognized brokers, as well as new members in the Middle East region. The organization’s free dispute resolution service to traders gained popularity in Asia, Latin America and Europe with new complaints from these regions growing 98%, 87% and 20% respectively, while complaints from the Middle East grew substantially by 357% in 2021. The Financial Commission also saw a continued decrease of 47% in complaints from Russia and former Soviet republics, as local market restrictions continued to impede the normal online trading operations FX and CFD traders had come to expect in the past. 

The majority of complaints in 2021 were related to non-trading issues with 58% of the total, while financial related disputes accounted for 23% and trading related complaints 19%. The most popular topics for complaints dealt with account blocking (32%), funds withdrawal (17%), price check (13%), non-market quotes (8%) and stop-out orders (6%). Of all resolved complaints, 59% were resolved “in favour of the broker” and 10% resolved “in favour of the client”, while 30% were found to be outside the organization’s jurisdiction. 

Heading into 2022, the Financial Commission expects to see global demand for trading and investing services continue to rise, particularly among younger generations of trades, with opportunities for volatility in prices of financial products, including commodities, energies and equities as a result of changes in fiscal economic policies and impacts from the ongoing Covid-19 pandemic.  In this regard, the organization is prepared to handle a growing number of new complaints from traders in the New Year.  

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 13th, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces the membership status of Lotas Capital has ceased following a breach of contractual obligations.

In order to maintain membership with the Financial Commission, member firms must strictly adhere to membership rules and all members agreed to comply with Financial Commission rules as one of the many prerequisites for initial membership approval and to maintain good standing.

Lotas Capital Expelled

Lotas Capital had not met its contractual obligations as a Financial Commission member and was expelled starting from December 31st, 2021 when the company’s membership was ceased.

Furthermore, Lotas Capital clients will not be eligible for reimbursement from the Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members, and is 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. Financial Commission notes that it will not be able to process any new complaints from Lotas Capitalclients’, following its expulsion from the Financial Commission as of the date of this announcement and moving forward.

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

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.

For more information about Financial Commission membership requirements, please contact us or visit www.FinancialCommission.org.

January 10th 2022, The Financial Commission today announces increases in amounts sought from brokers and average values of complaints in the last month of the year as part of its monthly Complaints Digest. The organization also experienced a continued improvement in already swift average dispute resolution times, with a 5.3 days average for the month.

Key monthly highlights for December 2021:

Month Over Month Comparison

Key Takeaways

Conclusions

The Financial Commission Dispute Resolution Committee (DRC) did not experience a shortage of complaints heading into the end of 2021 as retail traders continued to find trading opportunities in global markets. The DRC continued to process a significant amount of complaints that grew steadily over the previous months. The DRC was able to award a smaller amount of compensation to traders than in the previous month while experiencing a significant jump in the amounts sought by traders from non-member brokers in December.  Roughly 16% of new complaints filed with the DRC in December were valued between $1,000-$10K+, highlighting the continued importance of the organization to investigate complaints with a significant monetary value. 

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]

December 8th 2021, The Financial Commission today announces increases in amounts sought from brokers, average values of complaints, as well as total resolved complaints for November 2021 as part of its monthly Complaints Digest. The organization also experienced a significant improvement in already swift average dispute resolution times, with a 6 days average for the month.

Key monthly highlights for November 2021:

Month Over Month Comparison

Key Takeaways

Conclusions

Demand for retail trading continues to impact several key metrics of the Financial Commission for November 2021. Relatively lower numbers for newly filed complaints and increases in resolved complaints suggest traders are continuing to try and take advantage of market opportunities with the Dispute Resolution Committee (DRC) continuing to process a significant amount of complaints in the last quarter of the year. The DRC was able to award a smaller amount of compensation to traders than in the previous month while experiencing a jump in the amounts sought by traders from broker members in November.  At the same time, over 22% of all new complaints filed with the DRC in November were valued between $1,000-$10K+, highlighting the continued importance of the organization to investigate complaints with a significant monetary value. During the month, the DRC was able to resolve 2% more complaints than in October with some complaint investigations and decisions carrying over into November, while improving average resolution times, which still continue to outpace alternative EDR services. 

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, 2021, following meetings at the IFX EXPO International in Limassol, Cyprus, and ongoing negotiations, the Financial Commission today announces IC Markets as its newest approved Member. IC Markets becomes the latest online brokerage to join the ranks of the self-regulatory organization. The approval highlights the increased interest and demand for independent external dispute resolution (EDR) services among the industry’s leading FX industry participants.

IC Markets status as an Approved Broker Members of the Financial Commission took effect on November 24th 2021, following the approval of its membership application by the Financial Commission. The membership allows the brokerage 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 client, 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.

IC Markets 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 IC Markets

Built by traders for traders, IC Markets is one of the world’s largest Forex CFD broker dedicated to offering ultra-tight variable spreads, phenomenal order execution speeds, unrivalled liquidity and exceptional 24/7 service clients around the world. Since our launch in 2007, IC Markets has bridged the gap between retail and institutional clients, by offering a trading solution previously only available to investment banks and high net worth individuals.

For more information, please contact IC Markets directly: [email protected]

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].