Financial Commission Publishes Latest Case Examples Highlighting Common Dispute Themes

FinanceFeeds Editorial Team

The examples provided contain actually resolved complaints between Financial Commission member brokers and traders

As the first independent dispute resolution body for Forex and CFD markets, The Financial Commission has revealed a new portion of case examples showing the complaints resolution process of the organization and highlighting common disputes themes for the last half a year.

In order to get acquainted with the new cases, please click here.

The examples provide a detailed analysis of customer’s orders based on market conditions and pricing information from a variety of independent sources in order to determine the accuracy in pricing and quality in the execution of traders’ orders.

The examples provide a detailed analysis of customer transactions based on market conditions and pricing information from various independent sources, which helps to objectively determine the accuracy of pricing and the quality of orders execution.

As a result of the dispute resolution process, clients of member brokers collectively received compensation in the amount of more than $ 18,000 and over $1,205,000 awarded to “trading related” complainants in total for the 2020 fiscal year.

The Dispute Resolution Committee of the Financial Commission continues to focus on trading-related disputes as traders around the world want to ensure that the prices they receive from their financial service providers, as well as the speed and accuracy of trade execution, remain fair and transparent.

The Financial Commission regularly publishes case examples for the trading community and brokers to review in order to understand the issues that often arise as a result of trading and the ways in which the organization resolved such issues between brokers and their customers. The publicly available information is valuable in both educating traders, as well as improving the services and products offered by brokers.

About Financial Commission

Founded in 2013, the Financial Commission is a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages, exchanges and Blockchain firms that participate in global foreign exchange (forex), derivatives, CFD and digital asset markets.

The Financial Commission provides efficient compliance solutions to its members, alongside its External Dispute Resolution (EDR) mechanism that serves as an effective channel for processing complaints from clients of member firms.

For more information please contact the Financial Commission directly at [email protected]

Read this next

Digital Assets

Meet Grand Time: The Community-Driven Web3 Platform Where You Can Tokenize Your Time

Community-driven Web3 platform Grand Time is on a mission to help people enter the crypto market by providing the necessary resources through its multifaceted platform and native token.   As a fully decentralized and community-oriented platform, Grand Time is empowering people worldwide to become financially independent through its two-sided GIG marketplace. Unlike most Web 2.0 […]

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

Digital Assets

Thailand closer to launch digital asset exchange “to serve the needs of younger generations”

TDX is a subsidiary of the Stock Exchange of Thailand (SET) and its incorporation is part of the group’s strategic position to connect capital markets, open opportunities for the business sector in raising funds and cater to investment demand of new generations.

Digital Assets

Russia to legalize cryptocurrency payments as sanctions bite

Russia could soon be the latest country to lay down ground rules for legalizing cryptocurrencies as a means of payment, a sign that governments around the world are realizing that digital assets are here to stay.

Institutional FX

XTX Markets UK reports lackluster results for 2021

The UK business of XTX Markets, a non-bank FX liquidity provider and market maker, has reported its financials for the fiscal year ending December 31, 2021. The report showed impressive metrics after seeing revenues and customer activity increase even as the pandemic trading boom fizzled out.

<