The Financial Commission has announced Swift Trader as its latest approved Member, marking the company's inclusion in the roster of online brokerages under the self-regulatory forum. This move highlights the growing interest and demand within the FX industry for independent external dispute resolution services.

Swift Trader Secures Membership

Effective May 9th, 2024, Swift Trader attained Approved Broker Member status following the approval of its membership application by the Financial Commission. This designation grants the company and its customers access to a comprehensive array of services and membership benefits, including protection for up to €20,000 per submitted complaint, supported by the Financial Commission's Compensation Fund.

The Financial Commission serves as an impartial third-party mediation platform for brokerages and their clients, facilitating the resolution of complaints in situations where direct agreements between parties prove elusive.

Resolution Process Attracts Swift Trader and Others

For approved members and their clients involved in CFDs, foreign exchange (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, the Financial Commission offers a resolution process compared to traditional regulatory avenues such as arbitration or local court systems. Swift Trader now joins a diverse range of brokerages and independent service providers leveraging the Financial Commission's services to meet client needs while adhering to membership requirements.

Swift Trader boasts a team of seasoned professionals with over five decades of collective experience in the financial industry. The company is focused on delivering competitive pricing, and a range of trading products and tools to its clientele.

Recently, the Financial Commission announced the approval of Orfinex as its Member, signifying the company's inclusion in the self-regulatory forum for resolving disputes in the FX industry. Additionally, the organization welcomed Fusion Markets and Ultima Markets as Approved Brokers.

In a separate development, the Financial Commission has provided an update on its investigation into a recently uncovered scam involving fake representatives posing as The Financial Commission. This deceptive activity aimed to defraud traders and swindle money. The organization had previously issued a cautionary notice about this group of imposters on 15 December 2023.