FCA regulated retail forex broker ICM Capital just announced it has enhanced its client-fund protection to cover £1,000,000. This new insurance is available to all ICM Capital live account holders at no additional cost and is underwritten by QBE Underwriting Limited and other participating syndicates at Lloyd’s of London.
The UK-headquartered broker is one of few brokers to provide clients with enhanced and extended protection for their trading funds via Lloyd’s of London. Other brokers providing client funds protection include FXPRIMUS and ThinkMarkets.
The firm has always provided investor protection under the Financial Services Compensation Scheme (FSCS) in line with the FCA’s Client Assets Sourcebook (CASS) requirements.
ICM Capital presents a clear separation between the firm’s funds and its traders’ money as per the FCA’s client-fund protection rules, with funds being segregated from the company’s money. Furthermore, as an additional safeguard ICM Capital offers Negative Balance Protection meaning the trader will not lose more money than they are trading with. This benefit is provided in good faith as long as the terms of the Service Agreement are not abused.
Shoaib Abedi, Director at ICM Capital, commented:
We are extremely proud to be entering 2017 with an announcement that goes above and beyond the market’s expectations when it comes to client security. ICM Capital clients can now enjoy enhanced fund protection up to £1,000,000. As a multinational organisation, the security we provide for our clients is of the greatest importance. We continually enhance resources for our traders, ensuring improved safety and support across our global offices.