Category: News

January 20th, 2016 – Hong Kong & New York: FinaCom PLC, operator of FinancialCommission.org, a neutral mediator serving the online foreign exchange industry, announces today its newest member firm Grand Capital LTD.

Grand Capital LTD has been providing financial, educational and brokerage services since 2006. It is a multiple winner of Russian and International awards. The company is incorporated in the Republic of Seychelles, and has offices in Europe, Asia, Russia and CIS.

It is the 12^th member to engage the services of The Financial Dispute Resolution Commission to provide its customers with a neutral 3rd party mediator to help resolve complaints in cases of disputes where customers are unable to come to an agreement with their broker.

Following the approval of its application by the FinaCom PLC’s board, Grand Capital status as an official member of The Financial Dispute Resolution Commission took effect on January 15th, 2016.

Peter Tatarnikov, Chairman of The Financial Dispute Resolution Commission said regarding the announcement, “We are glad to welcome Grand Capital as our latest member and happy to see more brokers joining as the value of what we do plays a key role for broker’s client relationships and helps to build trust. For Grand Capital we believe this is a positive step for their business.”

Grand Capital CEO Stanislav Vaneev commented, “Financial Dispute Resolution Commission’s value proposition is totally aligned with our commitment to serve customers based on the highest industry standards. Brand confidence building and client’s feedback have always been one of the top priorities for the company and this step is aimed to give our clients more confidence in the transparency of the company’s work and should any disputes occur, the clients always know that they are protected by the independent commission. We believe that providing customers with a neutral 3rd party mediator when dealing with a large number of traders in markets such as foreign exchange is an important step in development process for any broker.”

The Financial Dispute Resolution Commission, an industry-specific dispute resolution service, is supported by a Dispute Resolution Committee comprised of recognized forex industry professionals. It provides value-added service to its members with an objective and cost-effective dispute resolution process that is independent of any broker and regulatory organization.

The Financial Dispute Resolution Commission has successfully completed the certification of Binary Options Platform offered by Tools for Brokers Inc., based on the rigorous process of evaluating comprehensive technical information requirements.

This review aims to check key points throughout the platform execution process to help ensure that an equitable decision process can be provided when reviewing claims from traders using such platforms.  Also, as part of the review process, the Commission has established a detailed list of points to verify covering the following sections:

• Platform Security

• Platform Capacity

• Instruments and orders types

• Pricing and Execution Policy

• Reporting and record keeping

• Business Continuity/Disaster Recovery Plan

About Tools for Brokers Inc

Today Tools For Brokers Inc. cooperates with more than 150 brokers around the world and provides solutions for many trading platforms. Besides the wide range of technology solutions for various brokerage tasks (from liquidity bridge to money management and risk management tools), Tools for Brokers Inc. also provides Binary Options Platform to help brokers to diversify their business.

About the Platform

The main advantage of the platform is that it can be fully integrated into the MT4 environment, so that brokers having MT4 platform can add Binary Options in their product portfolio without any modifications from their side. It is completely automated and synchronized with MT4: all the reports, configurations and data feeds are supported. The solution includes most popular Option types, including touch and range Options and Options with different expiration period to suit the different traders’ strategies.

The solution offers web-interface that can be used from any device having internet connection and also built-in panel for MT4 terminal that can be added to a standard client terminal download package. The user interface of the platform has fully customizable design. Customization of internal algorithms is also possible.

In addition, the platform includes risk management system that automatically monitors the actions of traders, preventing system abuse and maximizing the profit of the brokerage company. As well as, instruments for clients’ attraction and retention, helping to create affiliate network by using automated system of partner commission payment and giving bonuses for traded volumes.

Aleksey Kutsenko, CEO of Tools for Brokers Inc. commented, “After six years in both, retail and institutional FX technology business it is great to see that there is finally a global organization, such as Financial Dispute Resolution Commission, which can expeditiously resolve conflicts within our industry in a friendly and a professional manner. This is service is way overdue and  we are proud to be a part of this great initiative.”

Mr.Kutsenko is a member of the Dispute Resolution Committee of The Financial Dispute Resolution Commission has his education in the fields of physics and mathematics in addition to many years of software development experience. Alexey also passed base examinations for financial market specialists and hold certificate issued by Bank of Russia.

Based on this combination it was a perfect fit for Aleksey to create his own IT-company, which allowed him to put all his ideas and plans into practice. Aleksey was the first in the world to develop a One-Click-Trading plug-in for MetaTrader4, which is used by the world’s leading Forex brokers.

About the Financial Dispute Resolution Commission:

The industry-driven independent organization provides an unparalleled dispute resolution process between online brokerages and their end-customers, helping to avoid costly arbitration and/or regulatory complaints which typically leave the customer and brokerage with a negative relationship experience, and customer dis-loyalty. The announcement marks the start of a potential new wave of member applicants from the binary options industry to join the Commission.

Technology developers seeking membership status with The Financial Dispute Resolution Commission can learn more about the process and expected requirements as part of the technology certification process in advance of applying for membership or in preparation of submitting an application.

 

26 January 2016 – Hong Kong & New York: FinaCom PLC, operator of FinancialCommission.org, a neutral mediator serving the online foreign exchange and binary options industry, announces today its newest member firm Forex Club LTD.

Forex Club is the leading global brand in online trading industry and servicing clients from over 120 countries since 1997.

The Financial Dispute Resolution Commission, an industry-specific dispute resolution service, is supported by a Dispute Resolution Committee comprised of recognized forex industry professionals. It provides value-added service to its members with an objective and cost-effective dispute resolution process that is independent of any broker and regulatory organization.

In response to Forex Club’s official membership, The Financial Dispute Resolution Commission Chairman Peter Tatarnikov said: “We glad to welcome Forex Club as our newest member. It is important and well made decision for Forex Club as the company seeks to leverage its regulatory licenses and grow its business globally.”

About Forex Club

Established in 1997, FOREX CLUB is the brand name for a group of companies that provides clients from over 120 countries with platforms and services for trading forex& CFDs with a wide range of financial instruments, including currencies, securities of world leading companies, gold and other metals, oil and gas, indices and other online trading and educational products.

About The Financial Dispute Resolution Commission

The Financial Dispute Resolution Commission is an external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes with financial services providers that are members of The Financial Dispute Resolution Commission. The Financial Dispute Resolution Commission set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading the Forex market. The Financial Dispute Resolution Commission was established to be a neutral 3rd party committee to fairly review and resolve complaints in an effort to facilitate a simpler, swifter resolution than through industry regulators and the legal system.

 

2015 Membership Growth, New Appointments, Key Events and Industry Observations
New York & Hong Kong: FinaCom PLC, operator of The Financial Dispute Resolution Commission (FinancialCommission.org) – the first independent neutral mediator for multi-asset brokers offering Forex, CFD’s, Binary Options and Cryptocurrency, announces today its Annual Report for 2015.

Presented here below, The Financial Dispute Resolution Commission’s 2015 annual report highlights another outstanding year which further solidified the need for increased self-regulatory efforts, such as the benefits provided by The Financial Dispute Resolution Commission to its members – who join and maintain membership voluntarily while adhering to strict guidelines.

About The Financial Dispute Resolution Commission

The Financial Dispute Resolution Commission provides an unparalleled dispute resolution process between online brokerages and their end-customers and encompassing a wide range of complaints-processing related to product, market and pricing related issues brought by financial market participants. The Commission guarantees protection of the interests of both brokers and traders, thus providing a fair and neutral platform to effectively resolve complaints.

25 February 2016 – Hong Kong & New York: FinaCom PLC, operator of FinancialCommission.org, a neutral mediator serving the online foreign exchange and binary options industry, announces today its newest member firm Olymp Trade.  

Olymp Trade is a trademark of  Smartex International Ltd –  an online brokerage company that provides Binary Options Trading and registered in the Republic of Seychelles.

It is the latest member to engage the services of The Financial Dispute Resolution Commission to provide its customers with a neutral 3rd party mediator to help resolve complaints in cases of disputes where customers are unable to come to an agreement with their broker.

Following the successful certification of its trading technology, based on the rigorous process of evaluating comprehensive technical information requirements, and approval of its application by the FinaCom PLC’s board, Olymp Trade status as an official member of The Financial Dispute Resolution Commission took effect on February 22, 2016.

In response to Olymp Trade’s official membership, The Financial Dispute Resolution Commission Chairman Peter Tatarnikov said:  “Binary Options are considered a new and highly automated products, with all trading done on electronic platform. Unfortunately, there is no singular standard that binary options shall adhere to and this is why trading technology certification is a crucial point in obtaining the status with The Financial Dispute Resolution Commission. In order to provide clients with fair dispute resolution we must fully understand system’s execution mechanism and price determination process. Today we gladly welcome Olymp Trade to our organization and believe it is a great step for the broker to leverage its credibility and grow its business globally.”

Olymp Trade COO Andrey Yarin commented, “The Financial Dispute Resolution Commission’s value proposition is totally aligned with our commitment to serve customers based on the highest industry standards. Brand confidence building and client’s feedback have always been one of the top priorities for the company and this step is aimed to give our clients more confidence in the transparency of the company’s work and should any disputes arise, our clients always know that they are protected by the independent, reputable body. We believe having such an option is an integral part of complementing an already successful customer support and relationship management process, when dealing with a large number of traders in markets such as foreign exchange. It is great to see that there is finally a global organization, such as The Financial Dispute Resolution Commission, which can expeditiously resolve conflicts within our industry in a friendly and a professional manner.”

About Olymp Trade

Olymp Trade is a new dawn on the Binary Options market, that  constantly strive to deliver the highest-quality service possible. By simplifying each stage of the trading process and lowering entry levels, they make binary options trading accessible for everyone. Olymp Trade take all necessary steps to provide their clients with great trading experience and to help their clients to succeed.