PrimeXBT Partners With FinCom To Improve Dispute Resolution
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The Financial Commission (FinCom), a non-governmental organization overseeing operations in the financial service industry, revealed the addition of PrimeXBT as its latest official member. PrimeXBT is a virtual digital trading platform dealing in spot and future contracts. Its appointment as a certified Broker Member of FinCom became effective on April 23.
The Collaboration Enhances Customer’s Trust In PrimeXBT’s Services
PrimeXBT serves as an offshore platform using entities registered in the Marshall and Seychelles Islands. It enables the trading of actual digital currencies through a company registered in Lithuania. Aside from a cryptocurrency futures contract, the platform also offers instant trading in cryptocurrencies, forex, commodities, and indices.
PrimeXBT can realize significant profits and enhance the whole trading experience by partnering with FinCom, as stated in the PrimeXBT review. This collaboration offers many advantages such as the possibility of receiving compensation of up to €20,000 for any complaint filed with FinCom’s fund.
As a fairly neutral and impartial way of resolving conflict with the service supplier, FinCom gives PrimeXBT customers the choice to use third-party mediation services. This method is especially applicable in scenarios where conventional negotiation techniques face barriers.
In a press release, the Financial Commission stated that it provides brokerage firms and their customers with a fair third-party mediation platform. This platform helps resolve issues when the concerned parties cannot come to a direct agreement on disputes.
The Financial Commission Helps Settle Disputes Between Authorized Members
The Financial Commission offers assistance to authorized members and their customers who engage in cryptocurrency, CFDs, and foreign exchange (forex) markets. They settle disagreements faster and more easily compared to regulatory avenues like local courts or arbitration.
The financial industry has recognized the relevance of self-regulation in strengthening trust and credibility. FinCom is made up of top brokerage firms like Alpari, IC Markets, RoboMarkets, Pepperstone, and Exness, and plays a big role here.
This year, it has managed to successfully add more trusted brokers like VTMarkets, Ultima Markets, Fusion Markets, and Orfinex Markets to its group.
Furthermore, FinCom opened more innovative paths for industries like technology providers, blockchain platforms, educational services, and investment platforms. According to the latest report, appropriate regulation could spread around the entire financial sector.
To remain a member of the organization, users must comply with the stringent criteria set by FinCom. Those who are unable to fulfill the obligation placed by FinCom have already been forbidden from becoming a member.
This move demonstrates the financial commission’s concern for ensuring reliability and honesty in financial transactions. The model not only keeps traders safe and efficient but also enhances the reputation of global financial markets.
