Financial and Business News

Financial Commission Approves Monstrade Giving Clients Mediation and €20K Coverage

Thursday, 05/02/2026 | 14:02 GMT by Tareq Sikder
  • Approved Broker Member status gives Monstrade clients faster dispute resolution in CFDs, forex, and crypto.
  • The move follows iTech Software’s certification, confirming its systems meet broker and trader standards.
financial-commission-website

The Financial Commission has approved Monstrade as its newest Member. Monstrade was founded by a group of asset managers with experience in Dubai’s financial sector. The company initially provided data services to large institutions, financial support to fintech start-ups, and liquidity solutions to institutional counterparties. It has since grown into a forex broker.

The move follows the Commission’s recent certification of trading technology provider iTech Software. The certification confirmed that its systems meet standards for brokers and traders. iTech provides technology solutions for Forex, CFD, crypto, and NFT brokerages, including web trader platforms, back-office infrastructure, and live support with monitoring and risk management .

Financial Commission Provides €20K Complaint Protection

As an Approved Broker Member, Monstrade and its customers can access a range of services offered by the Financial Commission. These include protection for up to €20,000 per complaint, supported by the Commission’s Compensation Fund.

The Financial Commission serves as an independent third-party mediation platform. It resolves complaints when parties cannot reach an agreement directly. For members operating in CFDs, forex, and cryptocurrency markets, the platform offers a faster and simpler alternative to arbitration or local courts.

Commission Warns Against Impersonation Scam Activity

In a separate update, the Financial Commission confirmed RA Prime as a member. The brokerage provides foreign exchange and CFD products globally. Other recent additions to the organization include FP Markets, OneRoyal, FXON, GTCFX, and Neex, an online brokerage offering access to Forex, indices, and commodities.

The Commission also provided an update on an investigation into individuals falsely claiming to represent the organization. These imposters targeted traders reporting losses or blocked withdrawals from brokers such as Umarkets and TPG Deals.

They offered purported fund recovery or chargeback services in exchange for fees and issued counterfeit guarantee letters through entities claiming to be legal firms, including Orbital Limited and AK Law. The scammers also used fake contact details resembling legitimate digital wallet providers to mislead victims.

The Financial Commission has approved Monstrade as its newest Member. Monstrade was founded by a group of asset managers with experience in Dubai’s financial sector. The company initially provided data services to large institutions, financial support to fintech start-ups, and liquidity solutions to institutional counterparties. It has since grown into a forex broker.

The move follows the Commission’s recent certification of trading technology provider iTech Software. The certification confirmed that its systems meet standards for brokers and traders. iTech provides technology solutions for Forex, CFD, crypto, and NFT brokerages, including web trader platforms, back-office infrastructure, and live support with monitoring and risk management .

Financial Commission Provides €20K Complaint Protection

As an Approved Broker Member, Monstrade and its customers can access a range of services offered by the Financial Commission. These include protection for up to €20,000 per complaint, supported by the Commission’s Compensation Fund.

The Financial Commission serves as an independent third-party mediation platform. It resolves complaints when parties cannot reach an agreement directly. For members operating in CFDs, forex, and cryptocurrency markets, the platform offers a faster and simpler alternative to arbitration or local courts.

Commission Warns Against Impersonation Scam Activity

In a separate update, the Financial Commission confirmed RA Prime as a member. The brokerage provides foreign exchange and CFD products globally. Other recent additions to the organization include FP Markets, OneRoyal, FXON, GTCFX, and Neex, an online brokerage offering access to Forex, indices, and commodities.

The Commission also provided an update on an investigation into individuals falsely claiming to represent the organization. These imposters targeted traders reporting losses or blocked withdrawals from brokers such as Umarkets and TPG Deals.

They offered purported fund recovery or chargeback services in exchange for fees and issued counterfeit guarantee letters through entities claiming to be legal firms, including Orbital Limited and AK Law. The scammers also used fake contact details resembling legitimate digital wallet providers to mislead victims.

Topics
retail FX
retail forex
retail brokers
FinCom
About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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