The Financial Commission (FinCom), a self-regulatory organization in the financial services space, has added the offshore foreign exchange (FX) broker, ThreeTrader as the latest approved member. The broker's Approved Broker Members status became effective on 19 December 2022.

ThreeTrader Becomes a Financial Commission Member

ThreeTrader is incorporated and regulated in Vanuatu and operates as a retail brokerage, offering trading services with margin forex instruments and contracts for differences (CFDs) of other popular asset classes. The offshore license also allows the broker to offer high leverage of up to 500:1. However, the Vanuatu regulator does not provide any compensation plan to the customers of the financial brokers.

Being a member of FinCom, every ThreeTrader client will have deposit protection of up to €20,000, which the self-regulator's compensation fund will cover. Additionally, the broker will benefit from other services like third-party mediation in case of client dispute.

"The Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes," the press statement shared with Finance Magnates noted.

"For approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems."

Financial Commission explains how the dispute resolution process works.

ThreeTrader Joins Reputed Brokers as a FinCom Member

Financial Commission operates in a decentralized manner with a team stationed across the globe. Since its establishment, the organization has attracted dozens of small and large brokers as members, including Pepperstone, Exness, RoboMarkets, Alpari, IC Markets, and many more. It also provides membership to several blockchain platforms, technology providers, investment platform providers, and even education providers.

However, the organization is strict with its policies and has expelled a few brands over several months. Fiber Markets, LordFX, and EGMarkets were stripped of their membership status last year for violating rules and guidelines, while GANN Markets voluntarily withdrew its membership.