The Financial Commission has announced that Exness has joined the organization as its newest approved member.
With this approval, the online brokerage has become the latest member of the self-regulatory organization. This shows that the interest in the demand for an external and independent regulatory resolution service is high.
Exness’s membership status took effect on July 22 after the Financial Commission approved its membership application. This will enable the firm and its customers to have wide access to different membership benefits. These include protection from the Financial Compensation Fund, which offers about €20,000 per client protection.
The Commission will approve more members this year
Last year, the Financial Commission approved 12 new brokers to become members of the organization. However, the Commission may exceed this number due to the growing demand for external dispute regulation institutions.
Cryptocurrencies, CFDs, and Forex are catering to a global client base. However, the top regulatory jurisdictions are only serious about protecting their residents.
The Financial Commission is the right organization for brokers that are members of EDR organizations. Many of them have a lot to gain since they are protected from both reputational and regulatory risks. In addition, they will also enjoy the benefit of quick dispute resolution.
The Financial Commission offers brokerages through a fair third-party mediation platform. it ensures that complaints are resolved in situations where the parties cannot directly agree on the disputes.
Exness has now joined a wide range of independent service providers (ISPs) and brokerages that use the services of the Financial Commission.
According to the Commission, the goal is to uphold membership requirements and help them in the speedy resolution of any disputes.
More focus on the emerging Southeast Asian market
As a top multi-asset broker, Exness offers indices and stocks, commodities, cryptocurrencies, precious metals, as well as FX currency pairs.
It has a history in the fintech industry with over a decade of operation. The company said it was founded on the pillars of innovation, integrity, transparency, and trust.
Exness is a major player when it comes to forex and contracts for difference (CFDs) brokers. While the broker has focused primarily on the European markets, it wants to take its attention to the emerging markets in Southeast Asia. Earlier this year, the broker received an operational license from the South African regulator for brokerage business in the country.