April 24, 2019, The Financial Commission today announces the launch of a new certification service in partnership with VerifyMyTrade (VMT), an independent provider of trade pricing and execution analysis. The certification highlights Financial Commission’s efforts to bring Best Execution standards globally and is based on the best execution concept applied in major FX jurisdictions. Current approved Financial Commission members use this service free of charge (a €1,000/month value). Now all interested Forex firms can obtain the certification for a fixed annual fee.
By obtaining the VMT certification brokers increase their chances for success by adding trust and credibility to their trading service and increase customer confidence. The certification does not require brokers to adhere to the Financial Commission’s Rules and Guidelines and does not provide free dispute resolution services for clients.
Become a Verified Broker
Brokers interested in certification must be approved by the Financial Commission and successfully complete the VerifyMyTrade execution quality audit. Once complete, the Broker will receive a unique badge and link to audit results, which can be accessed by customers to review the quality of the broker’s trade executions. In order to maintain certification, brokers are required to submit trade data for review on a monthly basis.
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.