FinCom Grants Membership to EBC Financial Group

<p>

Financial Commission (FinCom) has granted membership to
EBC Financial Group, an online brokerage firm based in London. EBC joins a
growing number of brokers and independent service providers who utilize the
services of the commission. The approval took effect on July 5, according to a
statement issued by the company.</p><p>EBC is a brokerage
company regulated by the <a href="https://www.financemagnates.com/tag/fca/" target="_blank">Financial Conduct
Authority</a> (FCA) in the
UK. Additionally, the company is regulated by the Australian Securities and
Investments Commission (<a href="https://www.financemagnates.com/terms/a/asic/">ASIC</a>). It has a presence in London, Tokyo, Sydney,
Singapore, Hong Kong, Kuala Lumpur, and Bangkok.</p><p>About FinCom</p><p><a href="https://www.financemagnates.com/tag/financial-commission/" target="_blank" rel="follow">FinCom</a> is an independent third-party dispute
resolution organization. The entity resolves disputes between traders and
brokerage companies in the course of conducting businesses such as foreign
exchange, CFDs, derivatives services, and cryptocurrency trading.</p><p>Among the services
provided by FinCom is the protection of up to EUR €20,000 per every complaint submitted by the members, which is backed by the
commission's compensation fund.
Currently, the organization has more than 40 members, including Pepperstone,
DLS, Exness, and Deriv.</p><p>FinCom Expands Membership</p><p><a href="https://www.financemagnates.com/tag/fincom/" target="_blank" rel="follow">Finance
Magnates</a> reported in
July that FinCom had granted membership to DLS, a <a href="https://www.financemagnates.com/terms/m/multi-asset/">multi-asset</a> brokerage
company. DLS provides a range of financial instruments, including CFDs for
currency pairs, energies, commodities, and indices. Last year, FinCom granted
its membership to Vantage, a Sydney-based multi-asset broker.</p><p>However, in the past,
FinCom has suspended some members for allegedly failing to comply with
some of its regulations. Some of the brokers that have been suspended by the
commission are LordFX, Gann Markets, and BalansFX. Once a broker is
removed from the commission, they forfeit their access to the compensation fund.</p><p>"As
a result of the expulsion, the Financial Commission will not be able to
reimburse using the organization's compensation fund since clients of approved
members can only use the compensation fund and is subject to the ruling of our
dispute committee," FinCom explained in May regarding some of its suspended
members.</p>

This article was written by Jared Kirui at www.financemagnates.com.