The Financial Commission, a neutral dispute resolution organization is continuing to gain traction in the retail FX broking sector. The Hong Kong-based organisation reported that it has completed the new technology provider certification process. ActTrader joins the growing number of approved technology solutions under the Financial Commission’s banner. The move highlights the importance of independent bodies in the volatile word of currency derivatives trading.
The Financial Commission confirmed that it has successfully added the ActTrader platform on its list of approved trading portals. the certification was based on a rigorous process of evaluating the platform through a comprehensive technical information requirements submission.
Ilya Sorokin, pictured, CEO of ActTrader Inc., mentioned the certification in a statement: “After fifteen years in Retail FX technology business it is nice to see that there is finally a global organization such as Financial Commission, which can expeditiously resolve conflicts within our industry in a friendly and a professional manner. This is service is way overdue. We are proud to be a part of this initiative.”
The Financial Commission was initially launched as a benchmark for complaints resolution in the currency markets. It has expanded its product coverage to include Binary Options and Virtual Currencies.
ActTrader is reflective of the multi-asset nature of the current marketplace and industry body, and has been an active provider of derivatives markets for over fifteen years. Apart from a number of flexible solutions for Forex brokers, ActTrader also provides a fully integrated and stand-alone Binary Options offering named ActBinary, and most recently crypto-currency solution ActCoin.
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The Commission’s Work
The Financial Commission manages trader transaction problems, and gives brokers/dealers and providers the opportunity to bring forward disputes in front of industry practitioners. The Commission’s platform certification is a process that creates a benchmark or standard for understanding trading platforms.
The Financial Commission carries out a lengthy review of the key checkpoints that validate the software which include: platform security, platform capacity, instruments and order types, pricing and execution policy, reporting and record keeping as well as the firm’s business continuity/disaster recovery plan.
The platform’s review enables executives at the Financial Commission to make suitable decisions for reviewing claims.
Brokerage firms and providers can benefit from a streamlined process when applying for membership with the Financial Commission, as the organisation itself certifies the platform.