The Financial Commission (FinaCom PLC), an industry-specific dispute resolution service that caters to the financial services industry, today announced that it has approved STForex as the latest addition to its growing membership, according to a FinaCom statement.
STForex was established in Saint Vincent and the Grenadines in 2014. The broker offers trading services on the foreign exchange market. The target audience of STForex is mostly customers from Russia. Famous Russian TV presenter Dmitry Dibrov is the company’s brand ambassador.
All clients of a company that is a member of the Financial Commission are protected by the compensation fund, which acts as an insurance policy. STForex’s status as an A-category member means that its traders can be eligible for compensation of up to $20,000 per submitted claim and have access to all dispute resolution services offered by the Commission.
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FinaCom is an external dispute resolution organisation which is supported by the Dispute Resolution Committee (DRC), which in turn is comprised of recognized industry professionals. FinaCom is an independent international service that guarantees honest and timely resolution of disputes with the aim of resolving trader-broker conflicts.
The operator of FinancialCommission.org serves online CFDs, foreign exchange and independent technology providers.
FinaCom noted in its official statement: “STForex joins a diverse range of brokerages and independent services providers (ISPs) that utilise the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.”