Financial Commission approves Fxview: Protection of up to €20,000 per complaint
EDR services offer brokerages and their customers an unbiased 3rd party mediation to help resolve complaints in instances when parties are unable to directly come to an agreement over disputes.
The Financial Commission, an independent external dispute resolution (EDR) organization for consumers/traders, has announced Fxview as its newest approved Member.
Fxview was recently acquired by Finvasia Group which could reinforce the broker’s low-cost model. Finvasia is known to offer zero commission (brokerage fees, clearing fees) “forever” on its offering, including stocks, ETFs, bonds, mutual funds.
The broker services clients in over 25 countries and is registered with over six different regulatory bodies across Europe. The broker has hosted over two million unique users on its website and is gaining popularity swiftly across the EU, Asia, LATAM, and Africa.
Joining the ranks of the self-regulatory organization will help the broker set itself apart from competitors who don’t offer such protections to its customers. Several brokerages and independent service providers (ISPs) have already been approved as members by this particular EDR.
The status of Fxview, operated by Charglate SVG LLC (an entity registered in Saint Vincent and the Grenadines), as an Approved Member of the Financial Commission took effect on July 6, 2021.
This will provide the company and its customers 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, backed by the Financial Commission’s Compensation Fund.
The Financial Commission has seen great demand for its independent external dispute resolution (EDR) services among FX industry participants. Started out as an EDR for the foreign exchange industry, soon it expanded into CFDs and related derivatives as well as into trading platform certification.
EDR services offer brokerages and their customers an unbiased 3rd party mediation to help resolve complaints in instances when parties are unable to directly come to an agreement over disputes.
The Financial Commission offers a swifter resolution process than through typical regulatory channels for clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets.
Fxview is a brand operated by Charglate, a subsidiary of the Finvasia Group which holds licenses from Cyprus’ CySEC, UK’s Financial Conduct Authority, Germany’s BaFin, France’s ACPR, Italy’s CONSOB, Spain’s CNVM, and Norway’s Finanstilsynet.
Finvasia is a fintech giant with offices in India, UK, Cyprus, and Australia. The group owns multiple brands in financial services, fintech, blockchain, real estate, healthcare, and technology sectors.
