abstrak：The Financial Services Sector's self-regulatory body, the Financial Services Commission (FinCom), announced Thursday that Australia-based broker IC Markets has joined as a member.
The funds of each broker's client are protected up to € 20,000.
The Financial Services Sector's self-regulatory body, the Financial Services Commission (FinCom), announced Thursday that Australia-based broker IC Markets has joined as a member.
“This approval highlights the growing interest and demand for independent external dispute resolution (EDR) services among key participants in the forex industry,” FinCom explained in a press release shared with Finance Magnates.
FinCom's brokerage membership came into effect in October. Brokers enjoy a wide range of services and benefits, but most importantly, financial protection of up to € 20,000 per client, backed by the Financial Commission's Compensation Fund.
In the event of a dispute between a broker and its customers, the self-regulatory body acts as a third-party mediator to resolve the complaint.
“For CFDs, Forex (Forex), and certified members and their clients participating in the crypto market, the Financial Commission is easier and faster than common regulatory channels such as arbitration and district court systems. It helps to facilitate the resolution process, ”FinCom explained.
IC Markets is one of the top brokers in terms of trading volume and operates globally with licenses from regulators in Australia, Cyprus, Seychelles, and the Bahamas. His membership in
FinCom was born when the broker actively promoted the brand to promote the service worldwide. The broker recently signed a sponsorship agreement with 12 football clubs in Germany and Spain.
Meanwhile, FinCom has been adding many brokers as its members since the beginning of this year, that includes Exness and Fxview while handing out quality certification to several other brokers.
