logo |

News

    Home   >     Industry    >     Main body

    IC Markets Becomes a Financial Commission Member

    Abstract:IC Markets Becomes a Financial Commission Member - Funds of each of the clients of the broker will receive protection of up to €20,000.
    Financial

      The Financial Commission (FinCom), a self-regulatory organization in the financial services space, announced on Thursday that Australia-headquartered broker IC Markets joined it as a member.

      “The approval highlights the increased interest and demand for independent external dispute resolution (EDR) services among the industrys leading FX industry participants,” FinCom stated in the press release shared with Finance Magnates.

      The membership of the brokerage with FinCom has already become effective in October. The broker will receive a wide range of services and benefits, but the most important one being the fund protection of up to €20,000 per client, which is backed by the Financial Commissions Compensation Fund.

      In case of any disputes between the broker and its clients, the self-regulatory body will act as a third-party mediator to resolve the complaints.

      “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,” FinCom explained.

      

      

      IC Markets is one of the top brokers in terms of trading volume and is operating at a global scale with licenses from regulators in Australia, Cyprus, Seychelles, and the Bahamas.

      Its membership with FinCom came when the broker is aggressively promoting its brand to push its services globally. The broker recently inked sponsorship deals with 12 football clubs across Germany and Spain.

      Meanwhile, FinCom is 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.

      Source: financemagnates

    updated.jpg
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.