Lotas Capital Joins Financial Commission’s Membership

​The Financial Commission (FinaCom), an independent external dispute resolution (EDR) organization, announced that it has approved Lotas Capital, a retail FX broker established in 2017, to obtain its membership, effective from anuary 20th, 2021.

Lotas Capital provides 106 products including currency pairs, CFDs, stocks, cryptocurrencies. The company's vision is to provide the best service to customers by keeping the principle of trust which is the biggest deficiency in the Forex market.

Becoming the latest provider to join the ranks of the self-regulatory organization, the company' 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.

Acting as an unbiased 3rd party mediation platform, the commission can help brokerages and their customers resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

The Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems for approved members and their clients participating in CFDs, foreign exchange (forex), and cryptocurrency markets.

Previously, the commission has approved a multi-asset brokerage firm called AmorFX to obtain its membership.