About

SAFETY OF FUNDS

Clients Funds Segregation

Clients Funds Deposited with FXCoin are held in segregated bank accounts and separated from the company's funds. FXCoin, upon receiving any Clients’ funds, promptly places those funds into one or more accounts, denoted as “Clients”, opened with any of the following:

 
  • Central Bank
  • Credit Institution
  • Bank authorized in a third country
  • Qualifying money market fund
  • Deep liquidity from Tier-1 banks
  • Islamic (Swap Free) accounts

Separated from company’s funds.

Investor Compensation Fund

Pursuant to section 17 of the Investment Services and Activities and Regulated Markets Law of 2007, "A Cypriot Investment Firm (‘CIF') must be a member of the Investment Compensation Fund (‘ICF')". According to section 58 of the Law, a CIF is not allowed to provide investment services without participating in the Investors Compensation Funds.

FXCoin is a member in the Investor Compensation Fund the objective of which is to secure any claims of covered clients against members of the Fund and to compensate covered clients for any claims arising from the malfunction by a member of the Fund to fulfill its obligations despite whether that obligation arises from legislation, the client agreement or from wrongdoing on the part of the member of the Fund.

The Investor Compensation Fund was established to secure the claims of covered clients against a CIF through the payment of compensation in the event that the CIF in question was unable to: A- Return to covered Clients funds owed to them or funds which belong to them but are held by the CIF in the context of providing investment services to the said Clients or B- Hand over to covered Clients financial instruments which belong to them and which the CIF concerned holds, manages or keeps on their account.

Under the Rules and Regulations of the ICF, the total payable compensation to each covered Client may not exceed €20.000 EUR, irrespective of the number of accounts held, currency and place of offering the investment service.

Clients that are not covered by the CIF are: The following categories of institutional and professional investors. States and international organizations. Central, federal, confederate, regional and local administrative authorities. Enterprises associated with FXCoin, in accordance with the Fifth Schedule of the Law 144(I). Managerial and administrative staff of FXCoin. Shareholders of FXCoin Investors having in enterprises connected with FXCoin and, in general, of the group of companies, to whichFXCoin belongs, positions or duties corresponding to the ones listed in paragraphs (5) and (6). Second-degree relatives and spouses of the persons listed in paragraphs (5), (6) and (7), as well as third parties acting for the account of these persons. Apart from the investors referred to in subsection (2) of section 55 of the Law 144(I), investors-Clients of a member of the Fund responsible for facts pertaining to the member of the Fund that have caused its financial difficulties or have contributed to the worsening of its financial situation or which have profited from these facts. Investors in the form of a company, which due to its size, is not allowed to draw a summary balance sheet in accordance with the Companies Law or a corresponding law of a Member State of the European Union.

LICENSE : FXCBroker has a licensed and CIF governed and supervised by the Securities and Exchange Commission (CySEC) . FXCBroker is licensed to provide Investment Services (Reception and Transmission, Execution and Dealing on own account) and Ancillary Services.


Follow Us:

Copyright © 2016. All Rights Reserved.