Financial Commission Withdraws Membership of 4xCube

The Financial Commission, a leading independent external dispute resolution (EDR) organization for the retail trading industry, announced that it has withdrawn the membership of 4xCube, an online trading broker based in Cook Island.

According to the press release, 4xCube had met its obligations as a Financial Commission member up until September 30th, 2021, when its membership was effectively withdrawn. The withdrawal was entirely voluntary based on the company’s decision.

The commission further noted that it will not be able to process any new complaints from 4xCube. Furthermore, 4xCube clients will not be eligible for reimbursement from Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members.

“The compensation fund is designed to help protect members’ clients in exceptional cases and is funded by the Financial Commission from a portion of membership dues,”the commission mentioned.

Last month, the Financial Commission has reported the amounts of submitted complaints and other key metrics for August 2021​. According to the results, the commission saw new filed complaints increase 9 percent on a month-to-month basis to 245.