The Financial Commission has announced the certification of trading technology provider iTech Software. The certification confirms that the company’s technology meets standards intended to ensure brokers and traders operate under commonly accepted trading technology requirements.
iTech Software provides technology solutions for Forex, CFD, crypto, and NFT brokerages. The company develops and maintains its core systems in-house, including web trader platforms and back-office infrastructure. It also offers live support, monitoring, and risk management services.
Commission Certifies Technology for Online Brokers
The Commission reviewed iTech Software’s systems to confirm they met the technical requirements of its certification evaluation process. The assessment included system security, system capacity, business disaster recovery and continuity plans, reporting, record keeping, and other areas considered important for certification.
Founded in 2013, the Financial Commission is an independent, member-driven external dispute resolution organization for online brokerages operating in global forex, derivatives, and CFD markets. The Commission also provides a technology certification process for developers seeking membership.
Commission Warns Traders About Scam Activity
In a separate update, the Financial Commission announced RA Prime as its member. The brokerage offers foreign exchange and CFD products globally. Previous additions to the organization include FP Markets, OneRoyal, FXON, and GTCFX. Neex, an online brokerage providing access to Forex, indices, and commodities, has also joined the Commission.
The Commission further updated its investigation into a scam involving individuals falsely claiming to represent the organization. These imposters targeted traders who reported losses or blocked withdrawals from brokers such as Umarkets and TPG Deals.
They offered supposed funds recovery or chargeback services in exchange for fees and issued counterfeit guarantee letters through entities claiming to be legal firms, including Orbital Limited and AK Law. The scammers also used fake contact information resembling legitimate digital wallet providers to mislead victims.
The Financial Commission stated it does not provide funds recovery or chargeback services, does not contact traders unsolicited, never uses social media or messaging apps for official communication, and does not issue guarantee letters. Its services remain free for clients of member brokers.
This article was written by Tareq Sikder at www.financemagnates.com.Retail FXRead More
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