{"id":11100,"date":"2022-11-05T01:46:28","date_gmt":"2022-11-05T01:46:28","guid":{"rendered":"https:\/\/efsec.org\/?page_id=11100"},"modified":"2022-12-15T02:29:23","modified_gmt":"2022-12-15T02:29:23","slug":"faq","status":"publish","type":"page","link":"https:\/\/secure.efsec.org\/it\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"
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What we do<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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EFSEC ensures that traders and brokers are getting their disputes resolved in a quick, efficient, unbiased and authentic manner while making sure they walk away with a well-founded answer, thus contributing to their overall knowledge about Forex and Contracts for Difference (CFDs).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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<\/i><\/span><\/i><\/span>What is the EFSEC?<\/span><\/i><\/div>

European Financial Services and Exchange Commission is an external dispute resolution (EDR) organization for consumers\/traders who are unable to resolve disputes with financial services providers that are members of the European Financial Services and Exchange Commission.<\/p>

European Financial Services and Exchange Commission set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading the Forex market.<\/p>

European Financial Services and Exchange Commission hears a wide variety of disputes of all monetary values. We give traders a voice so they feel they are treated fairly and we provide brokers a means to respond to any complaints that may have been unfairly lodged against them.<\/p><\/div>\n\t\t\t\t\t<\/div>

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<\/i><\/span><\/i><\/span>Is the EFSEC regulator that regulates broker activities?<\/span><\/i><\/div>
The Financial Commission was established to be a neutral 3rd party committee to fairly review and resolve complaints in an effort to facilitate a simpler, swifter resolution than through industry regulators and the legal system.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span> What are the objectives of the EFSEC?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>What happens when a customer files a complaint with the EFSEC?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>Can I file a complaint against a broker who is no longer a member of the EFSEC?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>How exactly does the Dispute Resolution Committee work?<\/span><\/i><\/div>

The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the European Financial Services and Exchange Commission.

It is very important to understand that the fund will only be used for a judgment that has been issued by the European Financial Services and Exchange Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent.

Further, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.

The Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.

The Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/p><\/div>\n\t\t\t\t\t<\/div>

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<\/i><\/span><\/i><\/span>Is the EFSEC independent of all brokers and regulatory organizations?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>Where can I find information about a broker who is no longer a member of the EFSEC?<\/span><\/i><\/div>

The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the European Financial Services and Exchange Commission.

It is very important to understand that the fund will only be used for a judgment that has been issued by the European Financial Services and Exchange Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent.

Further, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.

The Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.

The Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/p><\/div>\n\t\t\t\t\t<\/div>

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<\/i><\/span><\/i><\/span>Does the EFSEC publish their decisions?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>Is there a minimum monetary value for a complaint?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div>
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<\/i><\/span><\/i><\/span>What is the compensation fund and how does it work?<\/span><\/i><\/div>
The Compensation Fund is a fund that acts as an insurance policy for members\u2019 clients but is only used should a member refuse to adhere to a judgment from the Financial Commission.\n<\/br><\/br>\nIt is very important to understand that the fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders\u2019 possible losses incurred while engaging in self-directed trading and does not apply to a broker member\u2019s entire client base should the broker become insolvent. \n<\/br><\/br>\nFurther, the Compensation Fund cannot be used for complaints regarding management account trading, trading of synthetic or non-market financial products as outlined in clause 16 of the Rules and Guidelines of the Financial Commission.\n<\/br><\/br>\nThe Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues to the fund which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.\n<\/br><\/br>\nThe Compensation Fund will only cover judgments up to \u20ac20,000 per client of a Member.<\/div>\n\t\t\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Members FAQ<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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European Financial Services and Exchange Commission is uniting the FX brokers who know that proper conduct will be the top value required in all dealings and producing educated and smarter traders who know how things exactly work. We have also developed a transparent and straightforward approach to self-regulation in the digital currency markets, by providing free dispute resolution services between traders, exchanges, and financial firms.

By joining the European Financial Services and Exchange Commission, companies are demonstrating their commitment to upholding the highest standards of commercial honor and best business practices in conducting their business, regardless of their licenses and locations. These activities come together to create a cleaner, more credible Forex environment overall.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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