The Financial Commission (FinaCom) on Tuesday announced that it has added Libertex to its member roster, which is made up of online brokerages operating in FX, derivatives and cryptocurrency markets.
Libertex, which stands for Liberty Exchange, is a simple investment platform – the terminal gives one access to the most popular financial instruments via a single application that works on all types of desktop and mobile devices.
The Cyprus-based FX broker told Finance Magnates in July that it will be focusing its efforts on the Chinese and Turkish markets. Libertex has launched a USD/CNH (US dollar / Chinese yuan) currency pair and is also supporting traders who focus on the European market by introducing an EUR/CNH (Euro / Chinese yuan) pairing.
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Libertex (formerly Forex Club) is the trading platform of Indication Investments Ltd, a member of the Russian Forex Club group, and is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC). Libertex web and mobile trading applications, which operates on the basis of HTML5 and Backbone framework, are also certified by the FinaCom.
In 2016, Libertex signed a sponsorship deal with James Rodriguez, the £63 million Real Madrid midfielder and Colombian national football team captain.
Following the acceptance of its application by FinaCom PLC, Libertex has 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.
FinaCom is an independent international service that offers the resolution of disputes with the aim of resolving trader-broker conflicts. All clients of members of the Financial Commission are protected by the Compensation Fund which acts as an insurance policy.