Financial Commission Reports Improved Resolution Times for July 2021

The Financial Commission, a leading independent external dispute resolution (EDR) organization for the retail trading industry, has reported the amounts of submitted complaints and other key metrics for July 2021, showing a continued monthly growth among these metrics.

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According to the results, the Financial Commission saw new filed complaints increase 14% MoM to 225 and resolved complaints increase 58% to 155 compared to the last month.

The organization saw the compensation sought by traders rose 10% to $979,699 in July, while the total amount awarded to traders fell to $13,163.

In addition, the average value of complaints filed in July was 6% higher than June at $4,755. And complaints in July were resolved in 6.5 days on average, evidencing a 33% improvement month over month.

“Roughly 23% of all new complaints filed with the Dispute Resolution Committee (DRC) in July were valued between $1,000-$10K+, highlighting the continued importance of the organization to investigate complaints with a significant monetary value,”the commission concluded.

Last month, the commission announced that it has approved Exness to obtain its membership​, effective from July 22, 2021. Exness' customers will be eligible for a wide range of services and membership benefits, including compensation of up to €20,000 per submitted claim, which is supported by the Financial Commission’s Compensation Fund.