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.
