Frequently Asked Questions
Digital Crypto Commission is a self-regulating company whose main purpose is to be a third party that traders and brokers can turn to if they have disagreements that they cannot resolve on their own. As an uninterested party, the Company makes completely independent decisions. It is important to remember that the Digital Crypto Commission’s decisions are only valid for those brokers who are its members.
No, quality control along with checking the legality of the broker’s actions are not and will never be the Digital Crypto Commission tasks. The main purpose has always been, is and will be to resolve disputes between participants in the trading market in order to ultimately come to the right result. To fill out a complaint, you must first make sure that the broker it relates to is a member and obeys the laws of its country.
The creation of a Committee of independent qualified specialists who can make decisions in controversial situations is the first goal. Speeding up the process compared to regular control bodies is the second.
The Digital Crypto Commission rules state that each broker with membership status is obliged to have a Complaints Contact and an Internal Dispute Resolution (IDR) procedure. After receiving a complaint, its actions must be as follows:
- Confirmation of receipt.
- If possible, offer compensation.
- If the complaint is rejected, provide an explanation of why this happened.
The client has the right to forward the complaint to Digital Crypto Commission if he/she is ultimately dissatisfied with the result obtained.
Complaints can only be filed against brokers that have membership status and provide a high level of service quality. Even if a broker was once a member of Digital Crypto Commission, but is no longer a member or is “under review”, complaints against it will not be accepted. Traders are best advised to contact their country’s regulatory authority in such situations.
You should join the Company to get support, which can be very useful given the potential risks in the market. In addition, letting your customers know that you provide a way to lodge a complaint will emphasize your reliability. Knowing that they can always turn to an impartial third party will make them feel more confident in doing business with you and may be a key factor in choosing you.
The main aspiration of the Company is to assemble a group of professionals in the financial sector into a Committee that, on a self-governing basis, will use its qualifications to resolve controversial issues faster and more effectively than traditional regulatory bodies.
To apply for membership, fill out a special form on the official website of the Digital Crypto Commission. To receive an electronic copy of your request, write to us at the info@digitalcryptocommission.com.
The Board of Directors will respond within 21 days after you fill out the form. Once your request is approved, you will receive the full membership package – a certificate, unique code and other necessary data.
Each broker, upon receiving membership status, undertakes to provide clients with a Complaints Contact and an Internal Dispute Resolution Procedure (IDR). Upon receiving a complaint, a member is obliged to:
a) acknowledge its receipt;
b) in cases where compensation is possible – pay it;
c) in cases where compensation is not possible – provide an explanation.
If the client has not received a response or does not agree with it, he/she can contact Digital Crypto Commission with a complaint.