Client Money Protection Service By HY Markets
HY Markets is the trading name of Henyep Capital Markets (UK) Limited which is a global leader in capital markets trading. We specialize in foreign exchange and Contracts for Difference (CFD’s) on commodities, metals, equities, indices, and treasuries traded through our global affiliate network and advanced online trading platform.
With our trading desk in the heart of the city of London and with over 30 years of operational history, we are authorized and regulated by the Financial Conduct Authority of the United Kingdom (FCA).
When you invest with Henyep you get the advantage of having your investments / funds protected both by the
- Financial Services Compensation Scheme and
- As a result of Henyep Capital Markets (UK) Limited adhering to FCA’s Client Money rules against the default of the Company.
Financial Services Compensation Scheme (FSCS)
FSCS is the UK’s compensation fund of last resort for customers of financial services firms authorised by the Financial Conduct Authority (FCA). This means that FSCS can pay compensation under the protected investment business scheme to consumers if an authorised financial services firm is unable, or likely to be unable, to pay claims against it and so is in “default.” Payments under the protected investment business scheme are limited to a maximum of £50,000.00 per customer. The Scheme is set up mainly to assist retail individuals, although smaller businesses are also covered. Full details of FSCS and its services are available at their web site: http://www.fscs.org.uk/.
Protection under FCA’s Client Money Rules
The FCA ‘Client Assets Rules’ require Henyep to segregate all money due to you on a daily basis and hold these funds in a separate account held at a bank approved by FCA. We will hold these funds as trustee. As a result the approved bank or any other creditor of Henyep Capital Markets Limited will not be in a position to claim these funds in case of liquidation of Henyep Capital Markets Limited.
This also means that your funds and other assets will be segregated from Henyep’s own money and will not be available to Henyep for use in the course of our business. We may hold your money and the money of other clients in a pooled bank account. Hence in the event of a default by the bank causes any unreconciled shortfall in the money held in the pooled account, then you may share proportionately in that shortfall.
External Audit
We have appointed Moore Stephens as our independent external auditors. They audit our books and records annually and report to the FCA our adherence to Client Money Rules throughout the review period.
Open Your Forex Account With Hymarkets