EBC Financial Group obtains Financial Commission’s membership
The Financial Commission has approved FX broker EBC Financial Group, a UK and Australia dual-licensed broker, to obtain its membership, becoming the latest company to join the ranks of the self-regulatory organization.
EBC Financial Group status as an Approved Broker Member of the Financial Commission took effect on August 9, 2023. The milestone follows the approval of its membership application by the Financial Commission, which gives their traders further assurance that they are offered services of high quality that comply with the standards of the commission.
The addition of EBC Financial Group to its member roster also provides stakeholders with 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.
“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,” the statement further reads.
Per its recent report, the Financial Commission received 550 complaints in the second quarter of 2023, and the amount it recovered for broker member customers more than tripled from a quarter earlier.
Specifically, the number of new complaints dropped three percent from the first quarter as a record $13.2 million sought by traders in the April-June period, which is up 350 percent on a quarterly basis.
Likewise, the number of resolved complaints fell 7 percent in the quarter. The quarterly enforcement report further reveals that the majority of complaints the commission received in Q2 were related to financial issues with 51 percent of the total, while trading related disputes accounted for 21 percent.
EBC Financial Group has its headquarters situated in London and is renowned for its exceptional trading platform. The brokerage takes pride in its ability to offer lightning-fast order execution, state-of-the-art analysis tools, and safeguarding client assets, making it a preferred choice for traders spanning the globe.
A major factor contributing to EBC’s credibility is its regulation and authorization by esteemed financial authorities. It is duly regulated by the Financial Conduct Authority in the United Kingdom (Ref. 927552) and the Australian Securities and Investments Commission (ASFL: 500991). EBC further enhances customer assurance by providing additional insurance coverage based on specific terms and conditions.
EBC’s influence extends across major financial centers globally, with operational offices in key locations such as London, Tokyo, Sydney, Singapore, Hong Kong, Kuala Lumpur, and Bangkok. These strategically positioned offices enable the brokerage to offer financial services to clients across different regions and time zones, catering to a diverse range of needs.
