IC Markets was recently selected as the new member of the Financial Commission as of November 24, 2021. The Australian-based broker and its clients now can enjoy a variety of benefits, including protection funds up to thousands of euros.

The Financial Commission announced IC Markets as the latest broker to join as a member of the self-regulatory organization following a meeting at IFX EXPO International in Limassol, Cyprus.

Founded in 2007, IC Markets is one of the leading Forex CFD brokers offering tight variable spreads, high order execution speed, depth of liquidity, and 24/7 client service. As of November 24, 2021, the Australian broker is officially associated with the Financial Commission's list of Approved Broker Members.

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Benefit as Financial Commission Member

Today, independent external dispute resolution (EDR) services are increasingly needed in the Forex ecosystem, especially since this industry affects companies and individuals spread across the globe. Therefore, the Financial Commission was formed, an independent external dispute resolution (EDR) organization that provides services for CFD, foreign exchange (forex), and cryptocurrency industry players.

As a result, the popularity of the Commission's EDR program among forex communities has led to a rush of trading companies seeking Approved Broker Member status.

One of the benefits of membership is that it gives the brokerage firm and its customers access to an unlimited range of services, including protection of up to €20,000 per client, backed by EDR compensation fund.

The registration of IC Markets as a member allows the company to now take advantage of a third-party mediation platform that helps resolve complaints if the parties cannot directly reach an agreement on the dispute.

Thanks to the various benefits above, it is not surprising that brokers and independent service providers (ISPs) want to become part of the self-regulatory organization in order to obtain a settlement process that is simpler and faster than through conventional regulatory channels such as arbitration or the local court system.