Compensation Funds
CALTEX is a member of the Financial Commission, an international organization engaged in the resolution of disputes in the financial services industry for the forex market.
The Financial Commission was established to be a neutral third party committee to fairly review and resolve complaints. It aims to facilitate a simpler, swifter resolution than through industry regulators and the legal system.
The Commission ensures that traders and brokers have their disputes resolved in a quick, efficient, unbiased and authentic manner, while making sure that all parties walk away with a fair and thorough answer to their concerns. The Commission also provides additional protection for traders by using the Compensation Fund.
It is noted that the Financial Commission is an independent external dispute resolution (EDR) organization.
How Does it works?
The Compensation Fund acts as an insurance policy for members’ clients. This fund is held in a separate bank account and is only used if a member refuses to adhere to a judgment from the Financial Commission.
How is Compensation Funds financed?
The Compensation Fund is financed by the Financial Commission through the allocation of 10% of the monthly membership dues.
Who is Covered?
The fund will only be used for a judgment that has been issued by the Financial Commission. The fund does not cover traders’ losses incurred while engaging in self-directed trading. It also does not apply to a broker’s entire client base should the broker become insolvent
What’s the maximum Coverage
The Compensation Fund will only cover judgments made by the Financial Commission of up to $10,000 per client. For more information, please refer to the website of the Financial Commission and our Client Agreement.
Disclaimer
Forex trading involves substantial risk, and it may not be suitable for everyone. The information provided on our platform is for educational purposes only and should not be considered as financial advice. We recommend consulting with a qualified financial advisor before making any trading decisions. Thank you for choosing Clatex Forex as your trusted partner in your Forex trading journey. Together, let's unlock the potential of the global currency market! Happy trading!
