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Brokerage software provider UpTrader has secured certification of its trading technology by the Financial Commission (FinaCom), a Hong Kong-based external dispute resolution (EDR) organization, the EDR said.
The certification followed a rigorous examination by the FinaCom, which aimed to ensure the company’s solutions meet the EDR’s technical information requirements. The EDR evaluated system security, capacity, business disaster recovery and a continuity plan, as well as reporting and record keeping, among others.
“In order to provide traders with fair dispute resolution we must fully understand their system’s construction and working process. UpTrader’s web solutions for brokerages are the latest technology certified by the Financial Commission,” FinaCom chairman Peter Tatarnikov said.
UpTrader provides brokerage solutions for the forex and binary options markets. Its clients receive ready-made modules that provide functions required to support day-to-day brokerage operations. Its offering includes trader’s room (web-based member area), white label for MT4, web-based trading platform, CRM, deposit & withdrawal of funds, social trading, IB partnership reward automation, website development and landing page generator, as well as legal services.
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. The certification of technology
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.
The organization’s members include forex and binary option brokers, as well as independent service providers (ISPs), including Alpari, Amarkets, Grand Capital RoboForex, Mtrading, Olymp Trade, Forex Club, FXOpen, among others. FinaCom has also certified the trading technologies of ActTrader, AMTS, Broctagon, FDC, Libertex (Forex Club), Tools for brokers, iBinex, Olymp Trade, RoboX and Xcritical.