The Financial Commission (FinCom), a self-regulatory organization in the financial services space, announced that it has added Inveslo as a newly approved member, effective from February 10.
Inveslo is a new name in the forex and contracts for differences (CFDs) industry that came into existence last year. The broker, which is registered and licensed in Kazakhstan, was founded by industry veteran Farrukh Adeeb, who was formerly the Business Head at FXTM.
Self-Regulatory Services
As a FinCom member, Inveslo will receive a wide range of services and benefits, but the most important one being fund protection of up to €20,000 per client, which is backed by the Financial Commission’s Compensation Fund.
Additionally, the Financial Commission gained traction for providing third-party mediation services in case of any dispute between the broker and customers, a service Inveslo will also receive.
“The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes,” the official announcement stated.
“For approved members and their clients participating in CFDs, foreign exchange (forex) and cryptocurrency markets, the Financial Commission helps facilitate a simpler swifter resolution process than through typical regulatory channels such as arbitration or local court systems.”
Over the years, demand for FinCom’s services exploded as many big broker brands like IC Markets and Exness joined the self-regulatory organization as members. Furthermore, it highlighted the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.
Last year, FinCom partnered with GetID, an identity verification service, thus enhancing services for its member brokers.
