Financial Commission adds DLS Markets to membership roster
The Financial Commission has approved FX broker DLS Markets to obtain its membership, becoming the latest company to join the ranks of the self-regulatory organization.
DLS Markets status as an Approved Broker Member of the Financial Commission took effect on July 5th, 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 DLS Markets 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.
Registered in Vanuatu, DLS Markets provides clients with a wide range of over-the-counter CFD products ranging from foreign exchange, precious metals, commodities and indices online.
“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.
The Financial Commission is an independent international service that offers the resolution of disputes with the aim of resolving trader-broker conflicts. The commission is supported by the Dispute Resolution Committee (DRC), which in turn is comprised of recognized industry professionals. It operates as an independent international service that helps facilitate a simpler resolution process than through typical regulatory channels, such as arbitration or local court systems.
All clients of members of the Financial Commission are protected by the Compensation Fund which acts as an insurance policy.
The Financial Commission also issues execution certifications for approved brokers as the industry-specific association attempts to reduce the number of execution-related disputes that occur before they progress into formal complaints.
The Financial Commission had recently warned that it believes that a clone website appears to be impersonating its identity. The organization states in its announcement that the suspicious website, which operates through the URL https://finsreg.com/, is attempting to replicate its branding and present itself as the Financial Commission.
As such, FinaCom PLC LTD is working with the domain registrar to have the websites removed and warned users to avoid the clone pages as they could be used in phishing campaigns. Additionally, it has filed a claim to gain control over the closely resembling domain address. This aims to ensure that traders and users can access the official materials and resources provided by the Financial Commission without confusion or compromise.
The Financial Commission also plans to take further actions against the operatives of finsreg.com, including reporting to law-enforcement authorities in order to protect unsuspecting investors and prevent future fraudulent activities.
