FxPro Safety of Client Funds
FxPro is a leading financial services company authorised and regulated by the Financial Conduct Authority (previously FSA) (license no. 509956) and the Cyprus Securities and Exchange Commission (CySEC, licence no. 078/07). Any funds held on behalf of our clients are governed by the following 5 integral principles to ensure maximum safeguarding of the funds.
1. Segregation of client funds
All client funds deposited with FxPro are fully segregated from the company’s funds and are kept in separate bank accounts. This ensures that those funds belonging to clients cannot be used for any other purpose. Our interim and annual financial reports are audited in Cyprus by PWC, a leading global financial auditor, ensuring that our operations are conducted to the highest possible standards.
2. Protection through membership of the Investors Compensation Fund
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and FxPro Financial Services Limited is a member of the Investors Compensation Fund (ICF) providing retail clients with additional protection. Eligibility depends on the status and the nature of the claim.
3. Funds deposited in investment grade banks
FxPro is partnered with investment grade European banks that enjoy some of the highest ratings by Moody’s, Fitch and S&P. Using global banks such as Barclays Bank PLC, Credit Suisse AG and Royal Bank of Scotland the firm ensures that funds deposited carry a low credit risk.
4. Regulated by Financial Conduct Authority (previously FSA) and Cyprus Securities and Exchange Commission (CySEC)
FxPro is authorised and regulated by the Financial Conduct Authority (previously FSA) and Cyprus Securities and Exchange Commission (CySEC) and abides by the strictest standards, including capital adequacy requirements. The company submits financial reports to FCA and CySEC on a regular basis including daily reconciliations of client funds.
5. Negative balance protection
FxPro uses an automated transaction monitoring and risk-management system to ensure that a client’s balance will never fall below the level of their initial deposits, protecting them from any losses beyond their original investment at FxPro’s cost.