Financial Commission issues execution quality certification to DeltaFX

abdelaziz Fathi

The Financial Commission today issued an execution certification for DeltaFX Ltd ‎as the industry-specific association attempts to reduce the number of execution-related disputes that occur before they progress into formal complaints.

How much does trade execution really cost

DeltaFX Ltd is a multi-asset brokerage firm incorporated in St. Vincent & the Grenadines as an International Business Company, which allows it to provide brokerage, training and managed account services. The company is offering FX, CFDs and other leveraged financial instruments.

DeltaFX originally joined the self-regulatory organization back in 2018. Following the acceptance of their application, it has obtained A-category membership status which means that its traders can be eligible for compensation of up to €20,000 per submitted claim. DeltaFX clients also have access to all dispute resolution services offered by the commission.

The FinaCom’s execution assessment depends on VerifyMyTrade, a post-trade solution that developed capabilities to accurately measure the execution quality of trading positions across many brokers operating in the FX market.

The service was introduced for the first time in 2018 and allows clients of the commission’s brokerage members to use its analytics tools to check whether their trades were fairly priced or not.

Verify My Trade consolidates price feeds from dozens of retail FX and CFDs platforms to produce statistical box plots, which are a representation of the minimum, maximum and percentiles of price ticks received for every second of the day.

To maintain their certified status, the audited firms are required to continuously submit their order execution data to the VMT analysis tool. This process maps the execution price to the boxplot for that time of day to assess the effectiveness and quality of the broker’s execution.

Due to the price verification capabilities, brokers who implement the service would be able to settle price disputes on their platforms internally, by inducing evidence on asset prices at any given time, from an impartial party.

And, in case a client claims that he is consistently getting poor execution, the analysis results will help facilitate handling execution-related disputes.

The Financial Commission is an external dispute resolution organization supported by the Dispute Resolution Committee (DRC), which in turn is composed of recognized industry professionals. The Commission’s EDR program operates as an independent service that helps facilitate a simpler resolution process than through typical regulatory channels such as arbitration or local court systems.

Multi-regulated broker Exness was the latest addition to the Financial Commission’s member roster, which is made up of online brokerages operating in FX, derivatives and cryptocurrency markets.

 

Read this next

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

<