FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF) and FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS).
The ICF came into being in 2002, in line with the Investment Firms Law of 2002 and the European Directive 93/22/EC. Cyprus Investment Firms (CIFs) are obliged to participate in the Investor Compensation Fund as part of their regulatory requirements. The objective of the Fund is to secure any claims of covered clients against members of the Fund, and to compensate them for any claims arising either from an inability of a member of the Fund to fulfil its obligations, or from any wrongdoing on the part of the member of the Fund. The ICF insures customer deposits up to €20,000 per client.
The FSCS came into effect after the Financial Services and Markets Act of 2000 and covers customers of UK-regulated financial services firms in the event that the latter are unable to settle any claims made against them. The Scheme insures customer deposits up to £50,000 per client. Further information can be found at www.fscs.org.uk.