Fund for Compensation
Exness trading brokers are affiliated with the Financial Services Commission, a global entity dedicated to resolving disputes within the realm of financial services in the foreign exchange market.
The Finance Committee functions as an impartial third-party body dedicated to impartially assessing and resolving grievances. The goal of the Commission is to offer more streamlined and expeditious solutions compared to navigating regulatory channels and legal proceedings.
The Financial Services Commission delivers prompt, efficient, trustworthy, and impartial conflict resolution between traders and brokers. It guarantees all involved parties receive thorough and transparent responses to their inquiries. The Commission further enhances trader protection by administering the compensation fund.
The Financial Services Commission delivers prompt, efficient, trustworthy, and impartial conflict resolution between traders and brokers. It guarantees all involved parties receive thorough and transparent responses to their inquiries. The Commission further enhances trader protection by administering the compensation fund.
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It's crucial to emphasize that the Treasury Board operates as an independent External Dispute Resolution (EDR) entity.
What is the operational process?
The Compensation Fund operates as a safeguard for its member clients, functioning like an insurance policy. These funds are securely stored in an independent bank account and are accessible only in cases where a member fails to adhere to the resolutions put forth by the Finance Committee.
What are the sources of funding for the compensation fund?
The compensation fund is generated by the Finance Committee through contributions amounting to 10% of the monthly membership fees.
Who is included in the coverage of the compensation fund?
The fund is exclusively designated for fulfilling the Finance Committee's awarded settlements. It is not intended to reimburse traders for losses sustained during autonomous trading activities. Moreover, in the event of a broker's bankruptcy, the fund does not extend compensation to all of the broker's clients.
What is the upper limit for compensation coverage?
The fund for compensation is applicable solely to verdicts passed by the Financial Services Commission, with a cap of €20,000 per client.
For more comprehensive information, kindly refer to the Treasury Board's official website and the Customer Agreement.
For more comprehensive information, kindly refer to the Treasury Board's official website and the Customer Agreement.