YaMarkets has officially joined the Financial Commission as its latest member. According to the company, this step is a commitment to enhancing client services and offers traders a quicker path to resolving disputes without the need for complex regulatory procedures.

Financial Commission's Compensation Fund

Effective from August 14th, 2024, YaMarkets' commission membership as an approved broker member allows the company and its customers to access a range of services offered by the commission, according to a statement the company shared with Finance Magnates.

Among the key benefits is the protection of up to €20,000 per complaint, backed by the commission's compensation fund. This offers traders an additional layer of security, knowing that an unbiased third party is available to mediate disputes when direct negotiations fail, the commission mentioned.

The Financial Commission provides a platform that accelerates dispute resolution for brokers and traders participating in CFDs, forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, and cryptocurrency markets. Unlike traditional channels such as arbitration or local courts, this platform aims to simplify the resolution process, making it more accessible and less time-consuming.

Financial Service Commission of Mauritius

YaMarkets is regulated by the Financial Service Commission of Mauritius. The brokerage firm offers access to a range of financial products, including forex, indices, commodities, stocks, and cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. It also features trading platforms such as MT4 and MT5.

On the other hand, the Financial Commission was established as an independent external dispute resolution forum. Initially, it focused on resolving issues within the forex market. Over time, it expanded its scope to include CFDs and related derivatives and certified trading technology platforms. YaMarkets now joins a growing list of brokerages and independent service providers certified by the commission.

Last month, the Financial Commission enlisted Vantage Trading as its newest member. Similarly, the approval granted the company and its clients access to various services and benefits, including protection up to €20,000 per complaint through the agency’s compensation fund.

Other companies that have joined the commission include Swift Trader, which became an approved member in May. Orfinex, a regulated trading platform based in Australia, also joined this year, adding to the agency's growing membership.