Financial Commission Reports 34% Increase in Newly Filed Complaints for January 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 January 2021, showing a continued monthly growth among these metrics.

According to the results, the Financial Commission experienced a significant increase in newly filed complaints for January 2021, which increases 34% to 170 from December 2020. The resolved complaints slightly decrease by 1% in January as compared to December 2020.

The organization saw the compensation sought by traders rose 92% to $1,035,346 and the compensation awarded increased 48% to $14,158 from December 2020.

In addition, the average value of complaints filed in January was 43% higher than December at $6,090. Complaints in January were resolved in 5.7 days on average, which is an improvement of 7% from the previous 6.1 days in December.

“Renewed focus on equities markets, as well as commodities, continued to garner trader interest and provide for solid trading volumes across different asset classes. The continued interest in trading has supported the demand for dispute resolution services”, the organization said.