DegerFX joins Financial Commission for protection of €20,000 per complaint
The partnership with the independent external dispute resolution (EDR) raises trust levels in the broker-client relationship.
DegerFX has been approved by the Financial Commission as a member of the self-regulatory organization as demand for independent external dispute resolution (EDR) services among FX industry participants continues to grow.
DegerFX is an FX and CFD broker registered in Saint Vincent and the Grenadines, which offers access to leveraged trading of derivatives instruments based on currencies, shares, commodities, indices, and cryptocurrencies.
DegerFX offers CFDs on multiple asset classes on MT5
As multi-asset trading becomes the new fashion among FX brokers, DegerFX made MetaTrader 5 available for its users. The platform was designed precisely to optimize the trading environment for so many different asset classes.
DegerFX also offers many discounts, rebates, bonuses, as part of its marketing strategy aimed at investors and traders looking for an offshore broker that can offer access to lower spreads and higher leverage.
That’s where the Financial Commission comes in. The partnership with the independent external dispute resolution (EDR) raises trust levels in the broker-client relationship.
Membership includes access to a wide range of services and 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.
The self-regulatory organization serves members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets. Its job is to facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.
In early 2021, the EDR organization reported several records in its operations metrics including the number of filed complaints (1340 complaints – 32% increase YoY), amount of compensations souпре by traders ($10.9M sought by all traders – 48% increase YoY), and awards to traders ($1,495,474 awarded to traders – 148% increase YoY) while keeping one of the fastest dispute resolution timeframes in 6.97 days per dispute.
The Financial Commission was founded in 2013 and caters to international online brokerages, exchanges, and blockchain firms that participate in global foreign exchange (forex), derivatives, CFD, and digital asset markets.