The Financial Commission has announced the approval of FXON
as its newest member. This marks an addition to the self-regulatory
forum, reflecting the growing demand for independent external dispute
resolution (EDR) services within the forex industry.

FXON Joins Financial Commission as Member

FXON’s membership became effective on January 20, 2025. The
approval allows the brokerage and its clients to benefit from a variety of
services. These include access to the Financial Commission’s Compensation Fund,
which provides protection for up to €20,000 per complaint.

FXON is now part of a group of brokerages and independent
service providers (ISPs) that use the Financial Commission’s services, aligning
with their client-focused commitments and adhering to membership standards.

The company integrates MetaTrader 4 and MetaTrader 5,
providing competitive spreads and fast execution . FXON also shares its
proprietary trading data publicly, enabling detailed analysis and informed
decision-making.

Regulated by the Seychelles Financial Services Authority
(FSA) and offering 24/7 customer support, FXON aims to provide accessible
services to traders across different experience levels.

Financial Commission Resolves Industry Disputes

The Financial Commission serves as an impartial third-party
mediator. It offers a platform to resolve disputes when direct agreements
between brokerages and customers are not achievable. This service aims to
enhance trust and transparency in the industry by ensuring fair handling of
complaints.

“For approved members and their clients participating
in CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial
Commission helps facilitate a simpler, swifter resolution process than through
typical regulatory channels such as arbitration or local court systems,” the
Financial Commission stated.

Scammers Target Traders Using Fake Recovery Services

Earlier, the
Financial Commission provided an update on its investigation into a scam
where individuals impersonating its representatives defrauded traders. These
scammers target those affected by fraudulent brokers, offering recovery
services for a fee and using fake companies to issue guarantee letters,
according to Finance Magnates.

The Financial Commission clarifies that it does not offer
recovery services, initiate contact via cold emails, or issue guarantee
letters. Traders are advised to verify communications by checking the list of
member brokers and using the official Dispute Resolution Form. Any unsolicited
claims should be verified directly with the Financial Commission before sharing
personal information.