PrimeXBT joins the financial commission as latest member
NEWS
The Financial Commission, an independent external dispute resolution (EDR) body, today announced the addition of cryptocurrency trading company PrimeXBT as its newest member, effective March 6, 2024.
With this new membership, PrimeXBT traders now have additional guarantees that their service provider meets the strict quality standards of the Financial Commission. In addition, PrimeXBT customers now benefit from protection of up to €20,000 per claim under the Commission Compensation Fund, which acts as an insurance policy.
Founded in 2018, PrimeXBT provides leverage, real-time market data and analysis tools across a broad spectrum of crypto assets.
The company aims to bridge the gap between cryptocurrencies and traditional asset classes, with features such as 100x leverage, advanced order types and charting tools.
Not without risks, margin trading via PrimeXBT now includes currency pairs, spot contracts for gold and silver, and CFD contracts for oil, gas and stock indices. In an effort to appeal to crypto traders with different experience levels and budgets, PrimeXBT offers leverage of up to 1:100 on all available cryptocurrencies and traditional assets.
The Financial Commission
The Finance Commission acts as an alternative to traditional regulatory resolution processes, such as arbitration or court systems, providing a simpler and more direct way to resolve conflicts between traders and brokers. It is supported by the Dispute Resolution Committee (DRC), which consists of esteemed industry professionals.
The organization not only mediates disputes, but also offers execution certifications to licensed brokers to limit execution-related disputes before they develop into formal complaints.
PrimeXBT joins a number of well-established brokers who have also partnered with The Financial Commission. Most notably, these include the likes of Pepperstone, Exness, RoboMarkets, Alpari, and IC Markets. More recently in 2024, Orfinex also announced its new membership with the commission.
Growing Demand for Independent Dispute Resolution Services
The inclusion of PrimeXBT reflects the growing demand for independent, unbiased dispute resolution services in the financial sector. Earlier in March, the Finance Commission published insights from its 2023 case studies, highlighting key themes and outcomes of disputes between traders and financial services providers. The results demonstrate the relevance and necessity of such organizations in today’s trading environment.
Read more: FX Newsroom
