简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Financial Commission (FinCom) is a renowned self-regulatory and leading external dispute resolution organization for the financial sector. Recently, FinCom announced that it had expelled Bold Prime from its membership after several failures to comply with its Rules and Guidelines.
The Financial Commission is an independent worldwide institution that resolves conflicts between traders and brokers. The Dispute Resolution Committee (DRC), which is made up of reputable business professionals, supports the commission and acts as an impartial global service that aids in facilitating a less complicated dispute resolution procedure than through typical regulatory channels, such as arbitration or regional court systems.
Traders of those brokers that hold membership status with the Financial Commission are entitled to compensation of up to €20,000 per submitted claim and have access to all of the commission's dispute resolution services.
The Compensation Fund serves as an insurance policy for all clients of Financial Commission members.
In an effort to decrease the number of execution-related disagreements that end up as official complaints, the industry-specific association works with the Financial Commission to offer execution certifications for licenced brokers.
Brokers using the service would be able to resolve pricing disputes internally by obtaining independent confirmation of asset values at any given time, thanks to the price verification capabilities. Additionally, the analysis findings will make it easier to resolve trade disputes related to execution if the customer asserts that he routinely receives inadequate execution.
Now that Bold Prime has lost its membership, FinCom will no longer entertain new complaints from Bold Prime clients. On the other hand, clients who Bold Prime wrongs will not be eligible for any compensation fund from FinCom – because this can only be used by clients of approved members subject to the ruling by the Commission's Dispute Resolution Committee.
Prior to this, IdealFX, Fiber Markets, LordFX, and EGMarkets had their membership statuses revoked by the self-regulatory body, while GANN Markets voluntarily called it quits.
In the meantime, FinCom is adding new members. ThreeTrader and Vida Markets were most recently admitted as members. Numerous small and large brokers, including Pepperstone, Exness, RoboMarkets, Alpari, IC Markets, and many more, have joined the group as members. It offers access to several blockchain platforms, technology, investment, and even educational companies.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Two terms often emerge during central bank policy discussions: hawkish and dovish. These descriptors reflect the differing approaches central banks may take regarding monetary policy. Traders, especially in the forex market, pay close attention to these stances because of their significant impact on currency strength, inflation, interest rates, and overall market sentiment. But what do these terms mean, and are they inherently good or bad for a country's economy?
Learn how sentiment analysis powers successful forex trades in 2024 by interpreting market emotions and anticipating price movements to create profitable strategies.
The 2024 US election is expected to have a significant impact on the Forex market. Therefore, on November 3, 2024, the well-known broker Tickmill will host a free webinar on US Election 2024. There are only a few seats available.
With extensive experience in the financial market, STARTRADER PRIME is highly knowledgeable about the needs of institutional businesses. The brand has gained trust from clients in over 200 regions by providing tailored liquidity solutions. Institutional clients require solutions designed according to their unique business needs, and STARTRADER PRIME offers such solutions, giving clients a real competitive edge in the market.