The Financial Commission, the leading self-regulatory association dedicated to ensuring sound practices across the financial services industry, today welcomed its newest member firm – BlueBroker.
FinaCom’s member roster is made up of the international online brokerages that participate in global foreign exchange (forex), derivatives and cryptocurrency markets.
BlueBroker is a multi-asset brokerage firm that offers trading on cryptocurrencies, debt, equity, insurance products. The company’s offering is mainly focused on blockchain-based digital assets including Bitcoin, Ethereum, and other crypto instruments.
BlueBroker also provides institutions with API, FIX and ITCH access and has the capability to offer HFT.
The company operates as an offshore provider of financial services. It is not licensed by any financial regulator and it doesn’t claim any regulatory status in any jurisdiction.
Following the acceptance of its application by FinaCom PLC, BlueBroker obtained A-category membership which guarantees that clients are offered services of high quality and comply with the standards of the commission.
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. More specifically, traders of a company with the membership are eligible for compensation of up to $20,000 per complaint, as well as having 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).
To facilitate the ICO certification process, the self-regulatory compliance specialist established a dedicated panel to certificate and evaluate the merits of prospective token offerings. Taking guidance from its existing Dispute Resolution Committee, the ICC panel consists of fintech experts from various sectors.