The Financial Commission, the leading self-regulatory association dedicated to ensuring sound practices across the financial services industry, today welcomed its newest member firms, FXNobel and Dubai FXM.
FinaCom is a globally acclaimed self-regulatory body that resolves trading-related disputes through arbitration and mediation.
FXNobel and Dubai FXM join a lineup of several international online brokerages that participate in global foreign exchange, derivatives and cryptocurrency markets.
FXNobel is a multi-asset brokerage firm that offers trading of forex, cryptocurrencies, indices, CFDs and commodities. The company operates as an offshore provider of financial services and maintains a presence in Marshall Islands, which offers a more flexible, looser regulatory regime. FXNobel is not licensed by any financial regulator and it doesn’t claim any regulatory status in any jurisdiction.
Dubai FXM is a UAE-based broker, but the company is regulated by the Vanuatu Financial Services Commission (VFSC).
Moma Protocol Raises $2.25m to Explore DeFi Potential Of Long-Tail AssetsGo to article >>
The inclusion of Dubai FXM follows on the heels of the launch of a new Arabic-language offering as part of the Financial Commission’s latest drive to encourage traders and brokers across the broader Middle East market to utilize its dispute resolution services.
By introducing Arabic-language capacity, Financial Commission is prioritizing the needs of the region’s customers and demonstrating its ability to provide both brokers and traders with resolution and certification services in their native language. The latest addition expands the Commission’s existing offering which currently includes seven languages: English, Russian, Chinese, Spanish, Turkish, Thai, and Indonesian.
Following the acceptance of its applications by FinaCom PLC, FXNobel, and Dubai FXM have obtained A-category membership, which guarantees that their clients are under the protection of an international organization and that the services provided to them are of high quality and comply with the standards of the watchdog.
All clients of member companies are protected by the Compensation Fund, which acts as an insurance policy. The brokers’ status as A-category members means that their 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.
In addition to providing dispute resolution and certification services to the participants of the forex and derivatives markets, Financial Commission recently extended its coverage to the crypto community and blockchain startups seeking to launch initial coin offerings (ICOs).