Exness is a member of The Financial Commission (FC), an international organization engaged in the resolution of disputes in the financial services industry for the forex market.
FC was established to be a neutral third-party committee to fairly review and resolve complaints. It aims to facilitate a simpler, swifter resolution than through industry regulators and the legal system.
The commission ensures that traders and brokers have their disputes resolved in a quick, efficient, unbiased, and authentic manner, while making sure that all parties walk away with a fair and thorough answer to their concerns. It also provides additional protection for traders by using the compensation fund.
It is noted that the FC is an independent external dispute resolution (EDR) organization.
How does it work?
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The compensation fund acts as an insurance policy for members’ clients. This fund is held in a separate bank account and is only used if a member refuses to adhere to a judgment from the FC.
How is the compensation fund financed?
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The compensation fund is financed by the FC through the allocation of 10% of the monthly membership dues.
Who is covered?
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The fund will only be used for a judgment that has been issued by the FC. The fund does not cover traders’ losses incurred while engaging in self-directed trading. It also does not apply to a broker’s entire client base should the broker become insolvent.
What is the maximum coverage?
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The compensation fund will only cover judgements made by the FC of up to €20,000 per client. For more information, please refer to the website of the FC and our Client Agreement.