Financial Commission adds Vida Markets to membership roster
The Financial Commission has approved FX broker Vida Markets to obtain its membership, becoming the latest company to join the ranks of the self-regulatory organization.
Vida Markets status as an Approved Broker Member of the Financial Commission took effect on December 12, 2022. 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 Vida 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 St. Vincent and the Grenadines, Vida Markets offers a range of trading options, including Forex, contract-for-differences (CFDs), indices and bullion. The company is a registered trading name of Vida Global Markets LLC. VIDA is also authorised to provide services in the UAE under Sterling Financial Brokers, a firm that is Authorised and Regulated by the Securities and Commodities Authority (SCA).
“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.
Financial Commission had recently participated at the 2022 FinanceMagnates London Summit. The independent regulator’s representatives showcased the organization’s membership and certification options and value-added services from companies such as VerifyMyTrade, Tradefora, and Yourbourse. Attendees were also able to get insights into Financial Commission’s operating metrics for 2022 and find out how its external dispute resolution service helps thousands of traders and broker members in various ways each year.