The Financial Commission, a third party dispute resolution organisation specifically dedicated to forex, today announced the successful completion of the certification of the binary options platform offered by technology provider, Broctagon IT Solutions.
Broctagon IT Solutions: We are proud to be a part of this initiative.
Broctagon IT Solutions becomes the newest member of the Financial Commission’s growing membership and follows the recent addition of Starfish FX, as reported by Finance Magnates in April.
Achieving certification with the Financial Commission is based on a rigorous process of evaluating comprehensive technical information requirements. It involves checking key points throughout the platform execution process to ensure that an equitable decision process can be provided when reviewing claims from traders using such platforms.
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During the review process, a detailed list of points requiring verification are also examined, including platform security and capacity, instruments and order types, pricing and execution policy, reporting and record-keeping, business continuity and disaster recovery procedures.
Michael Lau, Chief Marketing Officer of Broctagon IT Solutions, commented: “After several 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 and effectively resolve conflicts within our industry in a friendly and a professional manner. This service is way overdue. We are proud to be a part of this initiative.”
Responding to Broctagon’s Binary Options Platform certification, Financial Commission Chairman Peter Tatarnikov added: “ In order to provide clients with fair dispute resolution we must fully understand system’s execution mechanism and price determination process. Today we gladly welcome Broctagon to our organization and believe it is a great step to leverage its credibility and grow its business globally.”
New Member Applicants
The industry-driven independent Financial Commission serves to provide a dispute resolution process between online brokerages and their end customers. Today’s announcement marks the start of a potential new wave of member applicants from the binary options industry to join the commission.