The Financial Commission has announced the removal of DeltaFX from its membership roster, citing persistent non-compliance with its regulatory standards. DeltaFX’s expulsion means its clients are no longer eligible for compensation through the Financial Commission’s Compensation Fund, which is available solely to clients of approved members and is contingent upon rulings by the organization’s Dispute Resolution Committee.
As an external dispute resolution body within the financial services industry, the Financial Commission enforces standards that member firms must meet to retain their membership. The organization confirmed that DeltaFX was removed after repeated rule violations and failure to meet required compliance measures. Efforts to reach DeltaFX for comment went unanswered.
Expanding Regulatory Oversight and Ongoing Investigations
Established to provide an alternative approach for traders and brokers to resolve disputes in electronic markets such as Forex, the Financial Commission has broadened its scope to cover Contracts for Difference (CFDs) and related derivatives. It also certifies trading technology platforms, underscoring its role in promoting transparency and integrity across the financial services industry.
In a related development, the Financial Commission is actively investigating a scam involving impostors posing as its representatives. This scheme, previously highlighted in a December 2023 warning, involves fraudsters targeting traders with losses or blocked withdrawals, offering supposed funds recovery services for a fee. Victims have reported being asked to pay upfront charges and receiving fake letters of guarantee from fictitious legal entities.
The Financial Commission reiterates that it does not provide funds recovery or chargeback services and cautions traders against responding to unsolicited calls or emails. Traders are advised to verify communications by consulting the Financial Commission’s official member list and using the organization’s Dispute Resolution Form for any legitimate inquiries.
