Orfinex, the Australian-regulated forex broker, has been announced as a new member of the Financial Commission, a self-regulatory organization that helps resolve disputes in the FX industry.
Orfinex’s status as an Approved Broker Member took effect on April 17th, 2024, following the endorsement of its membership application.
What does this mean for Orfinex clients? The firm’s new status offers traders protection up to €20,000 per complaint, enhancing the security and appeal of trading with Orfinex. This membership not only benefits traders but also reassures stakeholders of the firm’s commitment to high service standards.
The Financial Commission is an independent international service dedicated to resolving disputes and aims to simplify the resolution process, providing an alternative to arbitration or local court systems.
Supported by the Dispute Resolution Committee (DRC), which includes recognized industry professionals, the commission also helps reduce execution-related disputes by providing execution certifications for approved brokers. Additionally, all clients of member firms are covered by the Compensation Fund, which acts as an insurance policy against broker disputes.
For approved members and their clients participating in CFD trading, forex trading, 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.
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Orfinex joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission as part of their commitment to their clients while upholding membership requirements.
