Crypto Conduct Authority Review
Cryptocurrencies are taking the investment market by storm, and it seems like the hype surrounding them won’t be dying down anytime soon. It’s why many new traders are looking for ways to start their crypto trading journey with the right broker. But how do brokers and traders plan on sustaining a long-lasting relationship?
The Crypto Conduct Authority is an independent third party that offers helpful services to guide brokers and traders in resolving disputes. So, in this Crypto Conduct Authority Review, I’ll have a look at its features.
The organization listens to complaints by traders and offers a number of benefits to member brokers. They have over 8 years of dispute resolution experience and implement effective and successful dispute resolution techniques. Now, the team of consultants has developed to become a valuable source to the crypto community.
Offers Certification Services for Brokers
Brokers looking to build trust among users and give them an assurance of great services can benefit from the Crypto Conduct Authority’s certification services. These include an Order Execution Certification, which increases the transparency of a brokerage by proving the quality of trades.
Then, it also involves showing traders that they’re not paying any additional or hidden fees. With this certification, brokers can also receive a special offer on membership with the CCA.
Other services available for brokers include a compensation fund and dispute resolution services. By being a member of the CCA, brokers will be able to secure insurance for their clients in the form of the compensation fund. This compensation fund is used when the brokerage doesn’t accept the decision.
Various Resources Available For Traders
As the number of online platforms increases and more people adopt online trading as a way to chase their investment goals, there’s a need for reliable information and awareness. The CCA realized early on that there needs to be someplace where new and experienced traders can go to see information.
To develop that vision, the organization has become a self-determining body with its own rules and methods for verifying brokers. Not to mention, its own dispute resolution process and educational materials.
Some of the resources available for traders include live market prices, which inform users about the latest price changes in the crypto market. Users can rely on this information to make reliable decisions with regard to trading strategies.
They also provide a warning list to traders, which they regularly update with names of platforms that traders should avoid. And if traders ever encounter an issue, they can always opt for dispute resolution.
Comprehensive Dispute Resolution Services
The dispute resolution process by the Crypto Conduct Authority is a method to settle disagreements and disputes by brokers and traders. Clients, who are the traders using the broker’s services, can file a complaint within 45 days after they have a disagreement.
That being said, it’s important that they contact the broker first to go through an internal dispute resolution process first. Then, if it doesn’t resolve, the investigation of the case will begin. This will take no more than five days after the complaint is received.
The CCA will collect documents and information during the investigation phase that are used to help them make an informed decision. In the event that additional information is needed, they contact the client or broker to request for the information.
It’s important that the broker or trader responds within 7 days and provides the documents needed. Finally, the decision made by the CCA is binding on the brokers, but only binding on traders if they agree with the decision. Applicants have 2 weeks to accept the decision, and if they don’t, the application will close.
Addresses Complaints By Traders
Before the Crypto Conduct Authority can address complaints by clients of members, they need to go through an internal dispute resolution process. It usually takes about 2 weeks for traders to get a response from the broker along with some clarification as to whether or not the decision is accepted.
In the event that the broker doesn’t accept the decision, it’s always possible to aim for the formal dispute resolution process. This is a sure-fire way to make a suitable decision that benefits both parties. Of course, in case the member of the Crypto Conduct Authority doesn’t accept the decision, there’s a compensation fund that’s used to compensate traders who filed the complaint.
The Crypto Conduct Authority is designed to provide brokers and traders with a valuable source of information that they can use. It offers a dispute resolution process that seeks to find a middle ground between both parties to ensure a fair decision.
Moreover, it manages a compensation fund that can be used as an insurance for clients of the CCA members. Lastly, Cryptoconductauthority.com offers certification services for brokers that helps build traders’ trust and increases transparency.