Financial Commission Reports Improved Resolution Times for October 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 October 2021, showing an increases in amounts awarded to traders.

According to the results, the Financial Commission saw new filed complaints slightly decrease by 0.64% and resolved complaints fall 8% MoM in October compared to the last month.

The organization saw the compensation sought by traders fell 63% to $1,021,364 in October, while the total amount awarded to traders increased to $32,852.

In addition, the average value of complaints filed in October was 63% lower than September at $3,295. And complaints in October were resolved in 6.8 days on average, evidencing a 28% improvement month over month.

"Demand for retail trading and investing looks to be continuing judging by several key metrics of the Financial Commission for October 2021. Steady numbers for filed and resolved complaints suggest traders are continuing to try and take advantage of market opportunities with the Dispute Resolution Committee (DRC) continuing to process a larger number of complaints than in the summer months,"the commission stated.

As Fazzaco reported earlier, the commission saw new filed complaints increase 27% on a month-to-month basis to 312 in September​. And the resolved complaints during the period increased to 320, which is 33% up compared to the last month.