The Financial Commission has announced that PU Prime is its
newest approved member. This addition highlights the increased interest and
demand for independent external dispute resolution (EDR) services among FX
industry participants.
Financial Commission Welcomes PU Prime
PU Prime’s status as an Approved Broker Member of the
Financial Commission became effective on July 16, 2024. The approval of its
membership application by the Financial Commission grants PU Prime and its
customers access to various services and benefits. These include protection for
up to €20,000 per submitted complaint, backed by the Financial Commission’s
Compensation Fund.
The Financial Commission offers brokerages and their
customers an unbiased third-party mediation platform. This platform helps
resolve complaints when parties cannot directly come to an agreement over
disputes.
For approved members and their clients participating in
CFDs, foreign exchange (forex), and cryptocurrency markets, the Financial
Commission facilitates a simpler, swifter resolution process than traditional
regulatory channels such as arbitration or local court systems.
PU Prime joins a range of brokerages and independent service
providers (ISPs) that use the Financial Commission’s services. Founded in 2016,
PU Prime has established itself as an online broker specializing in trading
CFDs. The company leverages innovative technology to offer clients access to
over 900 products, including forex, indices, commodities, shares, bonds, and
ETFs.
Investigation into Fraudulent Impersonators
Earlier, The Financial Commission updated its investigation
into a scam involving individuals impersonating its representatives, as
reported by Finance Magnates.
This scheme targets traders by falsely claiming to offer funds recovery and
legal services for a fee. On December 15, 2023, the Commission issued a warning
about these imposters.
The investigation found that they prey on traders facing
issues with unauthorized brokers, issuing fake letters of guarantee and
soliciting fees. They also used contact details similar to legitimate services
like Blockchain.com and Coinwallet. The Financial Commission clarifies that it
does not provide funds recovery or charge fees for its services.
This article was written by Tareq Sikder at www.financemagnates.com.
This post is originally published on FINANCEMAGNATES.
