The Financial Commission (FinCom), a self-regulatory organization in the financial services space, announced on Tuesday that Agra Markets is the latest approved member of the organization. According to the press release shared with Finance Magnates, there is an increasing interest and demand for independent external dispute resolution services in the forex industry.
The approved status of Agra Markets took effect starting March 29, following the approval of its membership application by FinCom.
This means that any company and its customers could access a wide range of services and membership benefits, including, but not limited to, protection for up to EUR 20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.
“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. 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,” the Financial Commission noted.
As part of their commitment to their clients, Agra Markets joins a variety of brokerages and independent service providers (ISPs) who utilize the services of the Financial Commission.
InvestIo as New FinCom Member
Last month, FinCom announced that it had added Inveslo as a newly approved member, effective from February 10. Inveslo is a new name in the forex and contracts for differences (CFDs) industry that came into existence last year. The broker, registered and licensed in Kazakhstan, was founded by industry veteran Farrukh Adeeb, formerly the Business Head at FXTM.
Over the years, demand for FinCom’s services exploded as many big broker brands like IC Markets and Exness joined the self-regulatory organization as members.
Furthermore, it highlighted the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.
