FXNobel and Dubai FXM Join FinaCom’s Roster of Category A Members

Recently, the commission's compensation fund increased its maximum ‎coverage amount ‎to ‎€20,000 ‎per client.

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.‎

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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).‎

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‎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).‎

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