The Financial Commission, an independent external dispute resolution (EDR) organization for the foreign exchange (forex) industry, announced this Tuesday that it had added Forex4you as its newest approved member.
Forex4you is a forex broker based in the British Virgin Islands established in 2007. The broker’s membership to the organization has taken effect today, the 22nd of October. Due to its status, customers of the firm now have access to the Financial Commission’s protection services.
The EDR organization providers brokerages and their clients with a third party mediation platform that helps to resolve issues when the separate parties are unable to come to an agreement themselves.
One of the agency’s services includes protection for up to €20,000 per the submitted complaint, which is backed by its compensation fund. In its own words, the Financial Commission provides a “simpler, swifter resolution process” than going through the typical regulatory channels.
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“Forex4you joins a diverse range of brokerages and independent services providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements,” the statement released today said.
According to the company’s website, Forex4you does not provide its services for customers in a number of countries. These include users based in the European Economic Area (EEA), Australia, the United States, Canada, and Japan. The company is a trademark of E-Global Trade & Finance Group, Inc.
Members of the Financial Commission
Members of the Financial Commission include forex, contract-for-difference (CFD) brokers, as well as companies operating in the cryptocurrency space. The Financial Commission is constantly adding new members to its EDR service.
As Finance Magnates reported, the agency recently added Trade99, a provider of a leveraged cryptocurrency-based asset trading platform, as an A-category member. In addition, earlier this year in March, the agency approved DealFX, an online brokerage, as an A-category member.