Group Licenses
The Financial Commission
FINACOM PLC LTD. and its affiliates (“Financial Commission”), is an independent self-regulatory organization and external dispute resolution (EDR) body, that is dedicated specifically to Forex.
While the Financial Commission is not regulated by or registered with as an EDR body in any jurisdiction, it operates in a way where transparency, swiftness, and education are the paramount values. Financial Commission 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).
Financial Services Authority (FSA)
Garnet Ltd is regulated as an International Forex Broker by the Financial Services Authority of ST. Vincent and Grenadies.
SVGFSA Register Number: 25830
The Financial Services Authority was established on November 12, 2012 by an Act of Parliament, the Financial Services Authority Act, which established a single regulatory unit with the responsibility of regulating certain entities and businesses in the financial sector and provides for regulated matters.
The Financial Commission
Garnet Trade Ltd is an approved member of the Financial Commission; an international external dispute resolution organization is exclusively committed to Forex, digital currencies, and blockchain.
The Financial Commission focuses on serving in an unbiased, efficient, quick, and authentic manner when there is a disagreement between brokers and their clients. Any investor may apply to the Financial Commission with availability to use 8 different languages and receive a response approximately in 7 days.
The Financial Commission gathered around people who are top experts on brokerage activities across the world and has presented outstanding compensation fund support. The committees’ extensive Forex experience, exceptional reputation, and legal knowledge ensure the fair resolution for the two parts. The decision given by the Financial Commission is indisputable and straightforward for all the participants.
Website: The Financial Commission
The Compensation Fund
Garnet Trade Ltd secures its traders’ investment by compensation fund with an Official Agreement with The Financial Commission. The Compensation Fund is a benefit included with Financial Commission participation, which gives assurance up to €20,000 per case when a member denies following to a judgment from the Financial Commission.
The compensation fund secures traders, who work with the participants of the Financial Commission, as an insurance policy. Each client of the company, which is a member of the Financial Commission, is eligible to collect compensation in case the brokerage company withholds or has no chance to act in accordance with the Commission’s decision in favor of the client. Traders entitle to get covered up to 20,000 Euro, settled by the Financial Commission.
The Compensation Fund is an exclusive service that only serves through the Financial Commission and its members to provide financial security to traders. The fund is collected from members’ 10% of the monthly membership fees and kept in a separate bank account and be only used should a member refuse to adhere to a judgment from the Financial Commission.
Civil Liability insurance program
Garnet Trade Ltd has the priority to make sure traders only focus on trading and eliminate the factors that may lead to the loss of their capital investment. Hence, our organization always ahead of the game and takes all the essential steps to provide compliance regards to its clients. Garnet Trade Ltd proudly announces that we obtain a Civil Liability insurance program with a limit for each acoount per 20,000 Euro which consists of fraud, inaccuracy, irresponsibility, full market coverage against exclusion, and other potential risks that may not be in favor to our clients.
This coverage is free of charge to all our investors.
Verify My Trade (VMT)
Garnet Trade Ltd has met with the quality standards established by Verify My Trade (VMT), affirming its compliance with the strict necessities of the Financial Commission to its member brokers.
Alongside the collaboration of Verify My Trade, we aim to present examination of the brokerage houses’ services in order to ensure reliable data for traders. Verify My Trade acts as an independent third party to report a statistical analysis of order execution of broker companies. The data derived from the market trades gets analyzed monthly basis and compared to reference values. VTM certified intermediaries are entitled to periodically provide statistical data on the execution of orders to prove their compliance with the requirements of the Financial Commission.
Garnet Trade Ltd shares its data (the client information is only kept with Garnet Trade Ltd) monthly with the Verify My Trade for analysis of the comparison to other brokers.
Security of Client's Funds
Regulated activities: SVGFSA
Forex account insurance
Approved
Member of the Financal Commission
