Compensation fund
ucmarkts is a member of the Financial Commission, an international organization engaged in the resolution of disputes in the financial services industry for the forex market.
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The Financial Commission was created as an impartial committee to objectively assess and address complaints. Its goal is to provide a more straightforward and quicker resolution compared to traditional industry regulators and the legal system.
The Commission is dedicated to resolving disputes between traders and brokers swiftly, fairly, and impartially, ensuring that everyone involved receives a comprehensive and just resolution to their issues. Additionally, the Commission offers extra protection for traders through the Compensation Fund.
It is noted that the Financial Commission is an independent external dispute resolution (EDR) organization.
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How does it work?
The Compensation Fund serves as a safety net for clients of its members. This fund is maintained in a separate bank account and is utilized only when a member fails to comply with a ruling from the Financial Commission.
How is the Compensation Fund financed?
he fund is exclusively designated for judgments issued by the Financial Commission. It does not cover losses that traders may incur from self-directed trading. Additionally, it does not extend to all clients of a broker in the event that the broker becomes insolvent.
What is the maximum coverage?
The Compensation Fund will only cover judgments made by the Financial Commission of up to €20,000 per client.
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