Independent third party regulator The Financial Commission has announced the certification of IBinex’s platform for cryptocurrency trading, following an earlier bid this past September.
The Financial Commission helps provide a neutral outlet for broker and trader mediation, dealing with a variety of asset classes including forex, binary options and, now, Cryptocurrencies . Earlier this week, the Commission’s Dispute Resolution Committee (DRC) named Zack Ioannou as its newest head.
In September, IBinex had announced to Forex Magnates their intention to partner with the Financial Commission and become a founding member of its new crypto unit. The recent announcement follows after an extensive review of the IBinex Trading Platform , based on a variety of parameters and requirements from The Financial Commission’s guidelines.
As a result of the successful review and consequent certification, this IBinex’s platform will now be available to member firms of the commission. The underlying purpose of this certification will also help set a floor for the set of criteria and expectations for future member firms in the commission.
According to Financial Commission Chairman Peter Tatarnikov in an exclusive statement to Forex Magnates on the certification, "we are delighted to announce the successful certification of Ibinex after it had passed our thorough review as an approved platform for cryptocurrency trading. We take the platform certification process very seriously as many aspects of best execution and transparency are not always so clear even for regulated firms - and we aim to add an extra layer of review to help serve best practices."
