The Financial Commission, acting under the management of FinaCom PLC as a neutral mediator in the forex and binary options industries, has announced that binary options broker Olymp Trade (trademark of Smartex International Ltd.) has now joined the organization’s current list of members. The entity is registered in the Republic of Seychelles.
The aim of FinaCom is to ensure that investors and brokers are able to resolve potential conflicts and disagreements quickly and efficiently. Acting on the principles of Dispute Resolution Organization (DRO), the Financial Commission tries to guarantee traders protection (e.g. offering a compensation fund of $10,000 per case), the opportunity to learn and grow, a neutral environment for reporting complaints and a somewhat simpler method of investigation than official regulatory bodies.
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According to Peter Tatarnikov, Chairman of the Financial Commission, in a recent statement on the membership: “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.”
Andrew Yarin, COO of Olimp Trade also commented on joining the organization: “It is great to see that there is finally a global organization, such as Financial Commission, which can expeditiously resolve conflicts within our industry in a friendly and a professional manner.”
In January, Finance Magnates reported that another brokerage, EQTrades, became a new member of the Financial Commission. The firm is registered in Belize and offers its clients trading on the foreign exchange market and contracts for difference (CFDs). What is more, it is regulated by the International Financial Services Commission.