Financial Commission Witnesses a Jump on the Average Complaint Values in November

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 November 2021.

According to the results, the Financial Commission saw new filed complaints slightly decrease by 14% MoM to 266 and resolved complaints rise by 2% MoM in November compared to the last month.

The organization saw the compensation sought by traders rose substantially to $1,424,144 in November, while the total amount awarded to traders decreased 27% to $24,040.

In addition, the average value of complaints filed in November was 64% higher than October at $5,392. And complaints in November were resolved in 6 days on average, evidencing a 12% improvement month over month.

"Demand for retail trading continues to impact several key metrics of the Financial Commission for November 2021. Relatively lower numbers for newly filed complaints and increases in resolved complaints suggest traders are continuing to try and take advantage of market opportunities with the Dispute Resolution Committee (DRC) continuing to process a significant amount of complaints in the last quarter of the year,"the commission stated.

In November, the commission has approved IC Markets to obtain its membership, effective from November 24th 2021. IC Markets' customers will be eligible for a wide range of services and membership benefits, including, but not limited to, protection of up to €20,000 per client.