FinCom Kicks Bold Prime!

The Financial Commission is an independent worldwide institution that resolves conflicts between traders and brokers. The Dispute Resolution Committee (DRC), which is made up of reputable business professionals, supports the commission and acts as an impartial global service that aids in facilitating a less complicated dispute resolution procedure than through typical regulatory channels, such as arbitration or regional court systems.

Traders of those brokers that hold membership status with the Financial Commission are entitled to compensation of up to €20,000 per submitted claim and have access to all of the commission's dispute resolution services.

The Compensation Fund serves as an insurance policy for all clients of Financial Commission members.

In an effort to decrease the number of execution-related disagreements that end up as official complaints, the industry-specific association works with the Financial Commission to offer execution certifications for licenced brokers.

Brokers using the service would be able to resolve pricing disputes internally by obtaining independent confirmation of asset values at any given time, thanks to the price verification capabilities. Additionally, the analysis findings will make it easier to resolve trade disputes related to execution if the customer asserts that he routinely receives inadequate execution.

Now that Bold Prime has lost its membership, FinCom will no longer entertain new complaints from Bold Prime clients. On the other hand, clients who Bold Prime wrongs will not be eligible for any compensation fund from FinCom – because this can only be used by clients of approved members subject to the ruling by the Commission's Dispute Resolution Committee.

Prior to this, IdealFX, Fiber Markets, LordFX, and EGMarkets had their membership statuses revoked by the self-regulatory body, while GANN Markets voluntarily called it quits.

In the meantime, FinCom is adding new members. ThreeTrader and Vida Markets were most recently admitted as members. Numerous small and large brokers, including Pepperstone, Exness, RoboMarkets, Alpari, IC Markets, and many more, have joined the group as members. It offers access to several blockchain platforms, technology, investment, and even educational companies.