This is according to FinCom's Quarterly Complaints Digest for Q4 2022.
The EDR body said range bound FX prices as well as winter holidays affected key metrics.
The total compensation sought by online forex brokers from all
brokerages declined slightly to $3.3 million during the fourth quarter of 2022, which is down from $3.5 million in the prior quarter. Similarly, the compensation
awarded to traders dropped by 23% to $60,919 during the past quarter.
On the contrary, the compensation sought from member brokers of the Financial Commission (FinCom), the independent external dispute resolution (EDR) body for the forex industry, surged by 66% during the fourth quarter of last year. These details are according to FinCom's Quarterly Complaints Digest for Q4 2022 published on Monday.
In the third quarter of 2022, total compensation sought from both member
and non-member brokers of FinCom jumped by 51% to $3.5 million. in addition, the self-regulatory
organization awarded more compensation to traders during the period as the
amount awarded rose by 36% to $79,494.
FinCom noted that “range bound forex and derivatives prices, as well as
winter holidays” affected many of its key metrics during the last quarter.
Compensation sought from FinCom member brokers surged by 66% during Q4 2022.
Did Retail Traders Forgo Active Trading during Q4 2022?
In other metrics, FinCom reported declines in the total number of new
complaints it received, resolved and ruled in favour of traders during the
quarter. While newly filed and resolved complaints decreased by 38%, those in
favour of traders came in 2% lower than the prior quarter.
“Slowdowns in filed and resolved complaints, as well as compensation
sought suggest traders may be finding less opportunities on traditional markets
in light of range bound price fluctuations or simply forewent trading at the
end of the year,” FinCom explained in the quarterly report.
Furthermore, FinCom noted that there was a “noticeable change” in the
focus of complaints during Q4 2022. While trading-related complaints only
accounted for 11.7% of complaints during Q3, this category rose by 5% to 19.8%
during the recent quarter “despite the general drop in new complaints for the
quarter.”
Nonetheless, non-trading complaints continue to be the major topic of
complaint, accounting for 41.8% of all complaints during Q4. In addition,
finance-related complaints are still the second most common complaint,
accounting for 35.1% and 38.4% during Q3 and Q4, respectively.
Moreover, complaints' average resolution time slowed by 33% to 6.1 days, which is down from 4.6 days during the last quarter.
“Complaints listed in the value category $1-10K and $10K+ increased
their overall share of complaints 5%, highlighting the continued importance of
the organization to investigate complaints with higher monetary values,” FinCom
added.
FinCom, an EDR body founded in 2013, regulates international online
brokers, exchanges and blockchain platforms that are active in the global
forex, derivatives, CFDs and cryptocurrency markets.
The total compensation sought by online forex brokers from all
brokerages declined slightly to $3.3 million during the fourth quarter of 2022, which is down from $3.5 million in the prior quarter. Similarly, the compensation
awarded to traders dropped by 23% to $60,919 during the past quarter.
On the contrary, the compensation sought from member brokers of the Financial Commission (FinCom), the independent external dispute resolution (EDR) body for the forex industry, surged by 66% during the fourth quarter of last year. These details are according to FinCom's Quarterly Complaints Digest for Q4 2022 published on Monday.
In the third quarter of 2022, total compensation sought from both member
and non-member brokers of FinCom jumped by 51% to $3.5 million. in addition, the self-regulatory
organization awarded more compensation to traders during the period as the
amount awarded rose by 36% to $79,494.
FinCom noted that “range bound forex and derivatives prices, as well as
winter holidays” affected many of its key metrics during the last quarter.
Compensation sought from FinCom member brokers surged by 66% during Q4 2022.
Did Retail Traders Forgo Active Trading during Q4 2022?
In other metrics, FinCom reported declines in the total number of new
complaints it received, resolved and ruled in favour of traders during the
quarter. While newly filed and resolved complaints decreased by 38%, those in
favour of traders came in 2% lower than the prior quarter.
“Slowdowns in filed and resolved complaints, as well as compensation
sought suggest traders may be finding less opportunities on traditional markets
in light of range bound price fluctuations or simply forewent trading at the
end of the year,” FinCom explained in the quarterly report.
Furthermore, FinCom noted that there was a “noticeable change” in the
focus of complaints during Q4 2022. While trading-related complaints only
accounted for 11.7% of complaints during Q3, this category rose by 5% to 19.8%
during the recent quarter “despite the general drop in new complaints for the
quarter.”
Nonetheless, non-trading complaints continue to be the major topic of
complaint, accounting for 41.8% of all complaints during Q4. In addition,
finance-related complaints are still the second most common complaint,
accounting for 35.1% and 38.4% during Q3 and Q4, respectively.
Moreover, complaints' average resolution time slowed by 33% to 6.1 days, which is down from 4.6 days during the last quarter.
“Complaints listed in the value category $1-10K and $10K+ increased
their overall share of complaints 5%, highlighting the continued importance of
the organization to investigate complaints with higher monetary values,” FinCom
added.
FinCom, an EDR body founded in 2013, regulates international online
brokers, exchanges and blockchain platforms that are active in the global
forex, derivatives, CFDs and cryptocurrency markets.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
