The Financial Commission has approved RA Prime as its newest member, effective today (Thursday). The brokerage offers foreign exchange and CFD products globally.

Earlier this year, FP Markets, OneRoyal, FXON, and GTCFX were approved as new members. Last year, Neex, an online brokerage offering Forex, Indices, and Commodities, also joined the Commission.

Financial Commission Offers €20K Client Coverage

RA Prime was founded in 2018. The approval allows the firm and its clients to access the Financial Commission’s services, including dispute resolution and coverage of up to €20,000 per complaint through its Compensation Fund.

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Independent Platform Mediates Complaints in Forex, CFD Markets

The Financial Commission provides an independent platform to mediate complaints when “parties cannot resolve disputes directly”. For members involved in CFDs, forex, and cryptocurrency markets, the platform aims to offer a “quicker resolution” than typical regulatory or court channels.

Financial Commission Warns Against Scammers Targeting Traders

Earlier, the Financial Commission updated its investigation into a scam involving individuals falsely claiming to represent the Commission. These imposters targeted traders who experienced losses or blocked withdrawals from brokers such as Umarkets, TPG Deals, and others. They offered supposed funds recovery and chargeback services in exchange for fees.

The scammers also issued fake guarantee letters through entities claiming to be legal firms, including Orbital Limited and AK Law. They used counterfeit contact information resembling legitimate digital wallet providers like Blockchain.com to mislead victims into paying for non-existent services.

The Financial Commission stated it does not provide funds recovery or chargeback services, does not contact traders unsolicited, never uses social media or messaging apps for official communication, and does not issue guarantee letters. Its services remain free for clients of member brokers.

Source: Finance Magnates