Facilitating complaint handling for Vanuatu brokers
Online financial dealers typically have internal dispute resolution (IDR) processes in place to help their traders with common issues. If these fail, complaints need to be escalated to an external resolution dispute (EDR) body to make sure they are addressed in manner that’s fair for all concerned parties.
Thanks to an exclusive partnership between the Financial Markets Association (FMA) and the Financial Commission, a Hong Kong-based independent EDR body dedicated specifically to the forex trading industry, Vanuatu brokers can guarantee a quick and easy EDR process for their traders.
The Financial Commission aims to make sure that traders across the world have their disputes resolved in a quick, efficient and impartial manner. It offers all parties peace of mind with its methodical, transparent process as well as a compensation fund that offers traders protection of up to €20,000 per complaint. Its membership includes over 40 financial dealers across many jurisdictions. Several of the most trusted Vanuatu brokers are already among them.
The benefits for our members are numerous.
First, offering an alternative, independent process for dispute resolution ensures that any customer complaint will be dealt with reasonably and fairly, which strengthens their reputations as responsible, sustainable businesses.
Secondly, they can apply for the Financial Commission’s VerifyMyTrade certification for trade execution quality, which is similar to “best execution” requirements in major international jurisdictions. VerifyMyTrade is another way for brokers to inspire trust in their services.
If you are a Vanuatu FDL holder and are interested to join, feel free to contact us.