A Hong Kong-based external dispute resolution organization The Financial Commission (FinaCom), accepted StarfishFX binary broker as the latest member.
Michael Townsend, CMO at StarfishFX said how this is another proof that they have a great commitment towards their traders. He accentuated the fact that they are always doing their best for providing the best treatment of all customers and are trying to resolve all problems that may occur:
“As people explore foreign exchange trading for the first time, we believe that providing them with additional options and education can only be a benefit, and we believe this step we have undertaken helps meet that objective in addition to what we have already established internally at StarfishFX.”
FinaCom, as a very important organization for binary options in Hong Kong, has several categories of membership depending on the compensation fund offered for clients. Depending on the broker’s status, traders can receive a certain amount in financial compensation. The categories are as follows:
- A-category members (up to $10,000 compensation)
- B-category members (up to $5,000 compensation), for example, GrandCapital
Good news is that brokers have to be regulated in order to become members of FinaCom. They also have to show dedication and user-oriented service.
FinaCom was established in 2013, as a neutral supervision body that serves as an intermediate in dispute between traders and brokers in Hong Kong. Special committee of professionals and leading brokers is determining the result of every dispute. The compensation fund is generated thanks to the 10% membership fee for every broker. Learn more about FinaCom.