The Financial Commission announced that it was granted certification of collective investment platform service provider to Fiboda. The move was in line with the commission’s efforts to create a fair and transparent trading environment for investors and authorized traders.
The commission creates a regulatory environment based on the accepted standards for operating collecting investment trading accounts.
Collective Investment Certification
In the statement, the Financial Commission stated that it had developed a thorough certification process that will help in auditing critical policies and procedures implemented in copy trading to protect new investors. The audit would also be done on PAMM investment platforms to meet the public’s growing demand and interest for financial services.
“Fiboda becomes the latest collective investment platform service provider to successfully complete the Financial Commission’s certification. Investors and authorized traders using Fiboda can be assured that they are operating on a level playing field, with commonly accepted standards for managing and operating collective investment accounts,” the commission stated.
Fiboda is a renounced social trading platform that harbors many experienced traders from different parts of the world. New traders can then follow the strategies used by experienced traders to increase their chances of making profits. Fiboda also incorporates innovative technologies in social trading to help users manage their risks better.
One of the best things about Fiboda is that it is a free platform for investors as it does not charge a subscription fee, and investors do not share profits. Fiboda’s user-friendly features are making Fiboda one of the most recommended platforms by investors and traders.
Opoforex Joins FinaCom
This news comes after the Financial Commission appointed Opoforex, a forex brokerage firm, as the commission’s newest member. With this addition, the clients of Opoforex can access more services and features, including insurance coverage for up to 20,000 submitted in a complaint through FinaCom’s Compensation Fund.
On its website, the commission states that it offers its members an efficient compliance solution. It also has an External Dispute Resolution (EDR) mechanism that processes client complaints from member companies.
The Financial Commission was created in 2013, and it has attracted many member firms who join to protect their clients. Some of the major members of FinaCom include Alpari, Axiory, Forex4you, RoboForex, FXTM, MTrading, and Libertex. It is also home to blockchain and fintech firms such as Etherlabs, Serenity, and YouHolder, which want to comply with the commission’s regulations.