The Financial Commission announced today (Tuesday) that
OFinancial.Markets has joined its membership as an Approved Broker. The
membership took effect on April 8, 2025, following the approval of the broker’s
application.
OFinancial.Markets Joins Financial Commission for
Protection
With this move, OFinancial.Markets and its clients now have
access to the services and protections provided by the Financial Commission.
These include external dispute resolution and potential compensation of up to
€20,000 per complaint, supported by the Commission’s Compensation Fund.
OFinancial.Markets is an online brokerage offering trading
services in various markets, such as foreign exchange, commodities, stocks,
indices, and cryptocurrencies. It uses a No Dealing Desk execution model, which
is designed to provide direct market access and avoid conflicts of interest.
Financial Commission Expands Dispute Resolution Network
The Financial Commission serves as a third-party mediation
platform. It steps in when a dispute arises between a broker and a client and
both parties cannot reach an agreement. The process is positioned as an
alternative to regulatory channels like arbitration or court proceedings.
“The Financial Commission initially set out to provide a new
approach for traders and brokers alike to resolve any issues that arise in the
course of trading electronic markets such as Foreign Exchange, and then
expanded into CFDs and related derivatives, in addition to certifying
technology platforms used for trading,” the Financial Commission stated.
By joining, OFinancial.Markets becomes part of a wider group
of brokers and service providers that rely on the Commission’s dispute
resolution services. Membership also involves meeting certain standards set by
the Commission.
Traders Advised to Verify Financial Commission
Communications
The Financial Commission recently provided an
update on its investigation into a scam where individuals impersonated its
representatives to deceive traders, as reported by FinanceMagnates.com. These scammers target traders impacted by
fraudulent brokers, offering paid recovery services and using fake companies to
issue guarantee letters.
The Financial Commission clarified that it does not offer
recovery services, initiate contact through cold emails, or issue guarantee
letters. Traders are encouraged to verify communication by checking the list of
member brokers and using the official Dispute Resolution Form. Any unsolicited
claims should be confirmed with The Financial Commission before sharing
personal information.
This article was written by Tareq Sikder at www.financemagnates.com.
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