The Financial Commission has approved IC Markets as a member. The FX and CFD broker becomes the latest firm to join a long list of peers in the ranks of the self-regulatory organization.
Both parties have met at the IFX EXPO International in Limassol, Cyprus, to discuss a potential approval.
After further negotiations, the independent external dispute resolution (EDR) services has announced IC Markets status as an Approved Broker Members of the Financial Commission took effect on November 24th, 2021.
IC Markets is a Leader in Low Spreads in FX and CFD Trading
IC Markets is one of the most popular online trading brands in the world. The Australian-based online retail forex and Contract for difference broker is known for its tight spreads and high leverage, but new ASIC rules on CFDs have lowered the maximum multiplier.
The broker, which specializes in CFDs over Forex, stock indices, commodities, bonds, and equity markets across the world, operates from four entities:
– Raw Trading Ltd registered in Seychelles with registration number: 8419879-2, is regulated by the Financial Services Authority of Seychelles with License number: SD018.
– International Capital Markets Pty Ltd with registration number 123 289 109, is regulated by the Australian Securities and Investments Commission with License No. 335692.
– IC Markets (EU) Ltd is a limited company registered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission with License No. 362/18.
– IC Markets Ltd, registered in The Bahamas with registration number 76823 C, is regulated by the Securities Commission of The Bahamas with License No. SIA-F214.
FX Brokers Are Joining Financial Commission for 3rd Party Mediation
The approval highlights the increased interest and demand for independent external dispute resolution (EDR) services among the industry’s leading FX industry participants.
The membership allows the brokerage and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per client, backed by the Financial Commission’s Compensation Fund.
In addition, the SRO provides 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 Financial Commission has profound expertise in independent external dispute resolution for clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets.
Its service helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.