The Financial Commission (FinaCom) announced that it has added DeltaFX and FXTM to its member roster, which is made up of online brokerages operating in FX, derivatives and cryptocurrency markets.
The two retail FX brands are joining the ranks of the self-regulator to give their traders further assurance that they are offered services of high quality that comply with the standards of the commission.
Following the acceptance of their application by FinaCom, DeltaFX and FXTM obtained A-category membership status which means that its traders can be eligible for compensation of up to €20,000 per submitted claim and have access to all dispute resolution services offered by the Commission.
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DeltaFX Ltd is offering FX, CFDs and other trading products. The brokerage is incorporated in St. Vincent & the Grenadines as an International Business Company while allows it to provide brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments.
FXTM is a CySEC-regulated multi-asset online broker. It appeared in the news this year because of its high profile sport sponsorship deals – it began sponsoring a Formula One team in February, and then signed a deal with tennis star Dominika Cibulková in July. FXTM also has partnerships with teams and players across several sports.
Financial Commission is an external dispute resolution organization which is supported by the Dispute Resolution Committee (DRC), which in turn is comprised of recognized industry professionals. It operates as an independent international service that helps facilitate a simpler resolution process than through typical regulatory channels such as arbitration or local court systems.