The Financial Commission has approved SBCFX as its newest Member. SBCFX is the online trading brand of StarBridge Capital, a multi-asset trading group. The group holds regulatory licenses from the Australian Securities and Investments Commission, the Seychelles Financial Services Authority, and the South African Financial Sector Conduct Authority.
The Financial Commission has also approved other recent members. Monstrade was approved last week. It was founded by a group of asset managers with experience in Dubai’s financial sector.
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The announcement followed the Commission’s certification of trading technology provider iTech Software. The certification confirmed that its systems meet standards for brokers and traders. iTech provides technology solutions for forex, CFD, crypto, and NFT brokerages, including web trader platforms, back-office infrastructure, and live support with monitoring and risk management .
SBCFX Gains Access to EDR Protection
As an Approved Broker Member, SBCFX and its customers gain access to a range of services and benefits. These include protection “for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.”
The Financial Commission is an independent external dispute resolution forum. It provides a platform to resolve complaints when parties cannot reach an agreement directly.
The Commission “initially set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading electronic markets such as Foreign Exchange ,” and has since expanded into CFDs, related derivatives, and certification of trading technology platforms.
For CFD, forex, and cryptocurrency clients, the Commission facilitates “a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.”
Financial Commission Expands with Multiple Brokerages
Other firms recently confirmed as members include RA Prime, which provides foreign exchange and CFD products globally, as well as FP Markets, OneRoyal, FXON, GTCFX, and Neex, an online brokerage offering access to forex, indices, and commodities.