Financial Commission Certifies Technology of Forex Development Corporation

Financial Commission, a leading financial services industry external dispute resolution organization (EDR), today announced its latest technology certification, according to an official announcement.

Financial Commission said that it has certified the technology of Forex Development Corporation after reviewing its platforms and Condor Prime back-office for MT4, as part of the technology certification process.

Aspects of system security, capacity, reporting, record-keeping, and business disaster/recovery and continuity plans were among several areas reviewed to certify FDC’s technology successfully.

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 Development Corporation

Commenting in an official statement, Financial Commission chairman Peter Tatarnikov said: “We are pleased to have concluded a successful technology certification for yet another provider and welcome Forex Development Corporation to the Financial Commission as an approved provider.”

Mr. Tatarnikov added: “Reviewing the often complex business processes which underscore how technology works continues to be of the utmost importance amid scrutiny of best practices surrounding trade execution and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, especially as brokers look to outsource such solutions to third parties.”

“As a fully integrated foreign currency exchange solutions technology provider, Forex Development welcomes the opportunity to have the independent and qualified third party Financial Commission (FinaCom Plc), validate its platform,” said FDC founder and CEO, Mitch Eaglstein, commenting in an official statement.

Mr. Eaglstein added in the statement: “Certification from the Financial Commission, an organization which harbors a deep understanding of the Forex industry, underscores our commitment to best business practices and commercial integrity.”

Dispute Resolution and Certifications

Financial Commission provides a membership-based service to online forex, binary options, and CFD brokerages, which allows brokerages underlying clients to resolve disputes using Financial Commission as a neutral third-party.

In addition, Financial Commission provides the technology certification services for independent service providers who cater to the online brokerage industry. The organization has steadily grown in recent years providing an important range of benefits to the online trading industry, while supporting self-regulatory efforts. The news follows after Financial Commission had successfully certified the technology for Broctagon IT Solutions, as reported by Finance Magnates in May.