The Financial Commission, an independent self-regulatory compliance specialist for the financial services industry, today announced that it has approved Carrax Inc. as the latest addition to its growing membership.
Carrax is the trading name of BravoPro Capital LTD and is a provider of foreign exchange (FX), commodities, and contracts-for-difference (CFDs), regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.
The company claims to operate under the ECN / STP model and widely represented in Asia, CIS countries, in the Middle and Far East as well as on the African continent.
Five Common Mistakes Traders MakeGo to article >>
Joining the Financial Commission provides Carrax members with several benefits including an objective and cost-effective dispute resolution process that is independent of any broker and regulatory organization.
In addition to a more streamlined and swift resolution process, relative to traditional channels of arbitration, Carrax’s status as a B-category Member provides the company clients with protection of up to $5,000 per submitted claim, backed by the Financial Commission’s compensation fund.
The addition of Carrax to FinaCom’s membership is the latest inclusion since certifying RAMMFX’s trading platform after the investment company passed the regulator’s evaluation by meeting its technical information demands.
FinaCom is an independent international service that guarantees honest and timely resolution of any disputes with the aim of resolving trader-broker conflicts. The commission’s Dispute Resolution Committee (DRC) serves as its paramount regulatory body which is staffed by executives from leading companies in the financial services industry.