client money protection

FXCC is a leading financial services company regulated by CySec (Cyprus Securities and Exchange Commission, License Number: 121/10). Funds held on behalf of our clients are fully secured by:

Client Fund Segregation
All client funds are held in segregated accounts, totally separate from any and all FXCC corporate accounts. Our External Auditors are Deloitte, one of the world's leading financial auditors.

Investor Compensation Fund
FXCC is a member of the Investor Compensation Fund (ICF). The full terms can be found here

Leading Investment Grade Banks
All our client trades are cleared through 14 tier-one banks. FXCC has partnered with some of the world's leading investment grade banks such as Deutsche Bank, J.P. Morgan, UBS and others.

Custodian Bank Services
Protecting Client funds is a top priority at FXCC and our Custodian Bank Services brings new levels of client security. FXCC has custodian service agreements with some of the world’s leading banks, such as Deutsche Bank.

Using our custodian services, you can trade directly with FXCC while keeping your funds in the bank of your choice.

Client Benefits

• Keep your deposits in the bank of your choice
• Full transparency
• Generate interest from your deposits in the bank you choose

FXCC Custodian Banking Services are available to Institutional and Advanced Account holders. For further information please contact FXCC Customer Services

Solid Regulatory Framework
FXCC is regulated by CySec in Cyprus, is on the FSA Register in the UK and carries the MiFID passport for financial services firms within the European Union.

INVESTOR COMPENSATION FUND

1. General Outline of the Investor Compensation Fund

FX Central Clearing Ltd. (License No. CIF 121/10) is a member of the Investor Compensation Fund (ICF), set up by the Central Bank of Cyprus and the Cyprus Securities and Exchange Commission (CySec) for clients of Cyprus Investment Firms (CIFs).

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.

Membership of the ICF ensures that clients of FXCC can claim compensation in the event that FXCC is unable to compensate its clients for a claim.

This provides FXCC clients with an extra measure of insurance for their funds.

The ICF does not cover Institutional or Professional investors but only retail Clients of FXCC.

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

2. Non-Covered Clients

2.1 Under applicable Regulations the Fund does not compensate the following:

(1) The following categories of institutional and professional investors:

• Investment Firms (IFs).
• Legal entities associated with the FXCC and, in general, belonging to the same group of companies.
• Banks.
• Cooperative credit institutions.
• Insurance companies.
• Collective investment organizations in transferable securities and their management companies.
• Social insurance institutions and funds.
• Investors characterized by the FXCC as professionals, upon their request, in accordance with articles 14 and 15 of the Code of Professional Conduct of IFs.

(2) States and international organizations.

(3) Central, federal, confederate, regional and local administrative authorities.

(4) Enterprises associated with FXCC, in accordance with the Fifth Schedule of the Law 144(I).

(5) Managerial and administrative staff of FXCC.

(6) Shareholders of the FXCC, whose participation directly or indirectly in the capital of FXCC amounts to at least 5% of its share capital, or its partners who are personally liable for the obligations of FXCC, as well as persons responsible for the carrying out of the financial audit of FXCC as provided by the Law, such as its qualified auditors.

(7) Investors having in enterprises connected with FXCC and, in general, of the group of companies, to which FXCC belongs, positions or duties corresponding to the ones listed in paragraphs (5) and (6).

(8) 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.

(9) 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.

(10) 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.

2.2. In the cases of paragraphs 2.1[(5), (6), (7) and (8)], the Fund suspends the payment of compensation informing the interested parties accordingly, until it reaches a final decision as to whether such cases apply.