The
Financial Commission (FinCom) has announced that Neex is its newest approved
member. Neex is an online brokerage offering a variety of financial
instruments, including Forex , Indices, and Commodities. It has joined the
self-regulatory forum, which highlights growing demand for independent external
dispute resolution (EDR) services in the FX industry.

Neex’s
status as an approved broker member became effective on October 3, 2024,
following the approval of its membership application. This allows Neex and its
customers access to various services and membership benefits. These include
protection for up to €20,000 per complaint, backed by the FinCom’s Compensation
Fund.

FinCom
Bypasses Traditional Arbitration

The
FinCom offers brokerages and their clients an impartial mediation platform for
resolving disputes when the parties cannot reach an agreement.

“The
Financial Commission provides brokerages and their customers with an unbiased
3rd party mediation platform that helps resolve complaints in instances when
parties are unable to directly come to an agreement over disputes,” the press
release of FinCom stated.

According
to the organization, it provides a faster and more straightforward resolution
process compared to traditional regulatory methods like arbitration or court
proceedings.

As a
new member, Neex joins a range of brokerages and independent service providers using the FinCom’s services. This membership demonstrates Neex’s focus
on its clients while adhering to the Commission’s standards.