The Financial Commission (FinCom), a non-governmental organization overseeing the financial services industry, has welcomed PrimeXBT as its latest authorized member, effective April 23. PrimeXBT stands out as an authorized broker member for its provision of online brokerage services covering spot and futures market exchanges.

Operating through entities registered in Seychelles and Marshall Islands, PrimeXBT facilitates trading of tangible cryptocurrencies through a Lithuania-registered entity. In addition to cryptocurrency futures, the platform offers immediate trading in indices, commodities, forex, and cryptocurrencies.

According to PrimeXBT Review, joining FinCom can lead to significant benefits for users, including potential reimbursement of up to €20,000 for grievances filed with FinCom’s fund. FinCom also offers impartial third-party mediation services for dispute resolution, particularly useful when traditional negotiation methods face obstacles.

The Financial Commission provides an impartial mediation platform for brokerages and clients involved in CFDs, forex, and cryptocurrency markets, facilitating streamlined dispute resolution compared to conventional regulatory avenues like arbitration or local courts.

Recognizing the importance of self-regulation in building trust and credibility, the financial sector has embraced organizations like FinCom, comprising leading brokerage firms. In 2024, FinCom expanded its membership to include trusted brokers like VTMarkets, Orfinex, Fusion Markets, and Ultima Markets, while also extending its regulatory scope to other industries such as blockchain platforms, technology providers, investment platforms, and educational services.

Compliance with FinCom's stringent requirements is crucial for maintaining membership, as failure to meet obligations results in disqualification, underscoring FinCom's commitment to honesty and reliability in financial transactions, thereby enhancing the security and efficiency of global financial markets.