JDR Securities Adopts External Dispute Resolution with FinCom Membership

<p>In a significant development for the financial services
industry, JDR Securities has officially become an approved member of the
Financial Commission (FinCom). This move signifies a growing trend within the
FX and CFDs sector, with more online brokerages embracing external dispute
resolution services.</p><p>According to a statement
shared with <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a>, as of August 21, 2023, JDR Securities assumed its
status as an Approved Broker Member of FinCom. This step reportedly followed a
review and approval of the company’s membership application by the commission.</p><p>JDR Securities and FinCom</p><p>JDR Securities offers an
array of over-the-counter CFDs products, including <a href="https://www.financemagnates.com/terms/f/forex/">forex</a>,
commodities, and indices, according to the information on its website. The broker’s operations span three brands: JDR Securities (New
Zealand), JDR Securities Limited (St. Vincent and the Grenadines), and JDR Tech
Pty Ltd.</p><p>By joining this
self-regulatory organization, JDR Securities offers its clients access to an
array of benefits, the company mentioned. This includes the
provision of protection for up to €20,000 per submitted complaint, supported by
the Financial Commission’s compensation fund.</p><p>More than a week ago,
FinCom <a href="https://www.financemagnates.com/institutional-forex/fincom-grants-membership-to-ebc-financial-group/" target="_blank" rel="follow">granted
membership</a> to the
London-based online brokerage firm EBC Financial Group. The recognition was made as
the commission continues to grow its network of brokers and independent service
providers, currently standing at 47.</p><p>FinCom’s Expanding
Membership</p><p>EBC Financial Group, an
online brokerage company, operates under the regulatory oversight of the
<a href="https://www.financemagnates.com/terms/f/financial-conduct-authority-fca/">Financial Conduct Authority (FCA</a>) in the United Kingdom. Additionally, the
group is regulated by the Australian Securities and Investments
Commission (ASIC). It maintains a robust international presence, with offices spanning
major cities such as London, Tokyo, Sydney, Singapore, Hong Kong, Kuala Lumpur,
and Bangkok.</p><p>FinCom mediates disputes
between brokerages and their clients when they cannot reach a direct
resolution. For the companies engaging in CFDs, forex, and cryptocurrency
markets, the commission presents an alternative to the traditional paths of
arbitration of local court systems.</p><p>While FinCom endeavors
to strengthen its industry’s integrity, it has encountered instances where
brokers allegedly fell short of compliance to the regulatory guidelines.
Notable examples include LordFX, Gann Markets, and <a href="https://www.financemagnates.com/forex/fincom-discontinues-balansfx-membership-over-compliance-failure/" target="_blank" rel="follow">BalansFX</a>, which faced suspension for the commission due to
reported breaches.</p><p>Meanwhile,
FinCom <a href="https://www.financemagnates.com/forex/another-clone-of-financial-commission-surfaces/" target="_blank" rel="follow">uncovered
an alleged fraudulent website</a> named
Crypto Exchange Association at the beginning of the month. According to the
agency, the website allegedly duplicated the details of FinCom’s broker members
and emulated the private regulators’ dispute resolution services.</p>

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