EDR FinaCom approves forex broker Gerchik&Co as member

EDR FinaCom approves forex broker Gerchik&Co as member

- in All News, Forex Brokers, Regulation
FinaCom

Forex brokerage Gerchik&Co. has joined Financial Commission (FinaCom), a Hong Kong-based external dispute resolution (EDR) organization, as its latest member, the FinaCom said. The broker has been approved as A-category member, which means that each of its clients gains access to compensation of up to to $20,000 in case of unresolved dispute with it. 

“We are aiming to become the world’s leading broker company at the forex market, providing to traders and investors clear, honest and efficient conditions for profits on the international forex market,” said Alexander Gerchik, Gerchik & Co.founder and president. “Therefore Gerchik & Co. has formed a partnership with The Financial Commission – the first, neutral, third party Dispute Resolution Organization that is dedicated specifically to Forex industry. The Financial Commission is a professional organization that operates in a way where transparency, swiftness, and education are the paramount values,” he noted.

FinaCom acts as a third-party mediator in case of complaints and disputes between its members and their clients in cases when the involved parties cannot solve themselves. The organization helps facilitate a simpler, swifter resolution process than through typical regulatory channels.

“We are pleased to see new brokers continuing to join the Financial Commission and proud to welcome A-Сategory Member Gerchik&Co. as our latest approved client and the most recent brokerage to join the Financial Commission,” said Peter Tatarnikov, FinaCom chairman. “Our ongoing membership growth reflects the importance of efficient dispute resolution, and companies and their clients value when it’s provided by a neutral 3rd party,” he added.

FinaCom’s members are forex and binary option brokers, as well as independent service providers (ISPs). The EDR organization has two membership categories, depending on the amount of compensation to which investors are entitled. Clients of A-category member get up to to $20,000 and those of B-category members receive a compensation of up to $5,000.

Gerchik&Co. was set up in January 2015 in Belize by Russia’s Alexander Gerchik. The broker is licensed by the Belize’s International Financial Services Commission (IFSC) and is one of six entities registered in Belarus as forex service providers. Although based in Belize, Gerchik&Co. is predominantly focused on Russian-speaking markets. The broker supports the MetaTrader 4 (MT4) platform and recently announced the addition of RoboX, an automated forex trading software.

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