Strifor and its customers can now access a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.
The Financial Commission has announced that online brokerage Strifor has joined the ranks of the self-regulatory organization as its newest approved Member.
The increased demand for independent external dispute resolution (EDR) services among FX industry participants is noticeable as more and more retail brokers partner with the organization in order to provide their traders with a trusted environment even in less regulated jurisdictions.
Protection of up to €20,000 per submitted complaint against Strifor
Strifor status as an Approved Broker Members took effect on March 14th, 2024, thus allowing the company and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per the submitted complaint, backed by the Financial Commission’s Compensation Fund.
The self-regulatory organization provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly agree on disputes.
Specialized in disputes regarding CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.
Strifor joins a diverse range of brokerages and independent service providers (ISPs) that utilize the services of the Financial Commission as part of their commitment to their clients while upholding membership requirements.
Strifor, the new broker member of The Financial Commission
Strifor is an FX and CFD broker that has been operational since 2020, with its headquarters located in St. Vincent and the Grenadines. The broker offers trading services across various instruments including Forex, Gold & Silver, Oil, Stocks, Indexes, Agriculture, Soft Commodities, Metals, Energies, and Cryptocurrencies. Strifor is regulated by the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) under the number 1779.
The broker provides two main types of accounts: Basic and Professional, each with a minimum deposit requirement of $2000. The maximum leverage available is 1:500 for both account types, but they differ in terms of spreads, commissions, and other trading conditions. For example, commissions range between $5 and $8 per lot, depending on the account type. The Basic account offers spreads starting at zero pips for some currency pairs, while the Professional account has spreads beginning from 0.1 points.
Strifor uses the MetaTrader 5 (MT5) platform for trading, which is available on PC, Web, and Mobile versions, offering traders a wide range of functionalities for their trading activities. Payment methods for deposits and withdrawals include cryptocurrencies like Ethereum, USD Coin (USDC), Tether (USDT), and Dai (DAI), aiming for fast and convenient transactions.