Licences, Regulation and Professional Memberships
As a strong proponent of transparency, we establish the highest standards of safety for our clients' funds. For this reason, client funds are kept in major international banks and are fully segregated from the company’s own funds.
FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number 509956).
The Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS).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 £85,000 per client. Further information can be found at www.fscs.org.uk.
FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number 078/07), the supervisory and regulatory authority for investment service firms in Cyprus. CySEC participates in the European Securities and Markets Authority (ESMA) Board of Supervisors.
FxPro holds a cross-border CySEC licence, authorising the provision of investment and ancillary services. We are governed by the EU and local regulations such as the European Markets in Financial Instruments Directive (MIFID II) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 Law 87 (I)/2017
FxPro Financial Services Limited is a member of the Investor Compensation Fund. The objective of ICF is to secure any claims of covered clients against members of the Fund and to compensate covered clients for any claims arising from malfunction by a member of the Fund in fulfilling its obligations whether that obligation arises from legislation, the client agreement or from wrongdoing on the part of the member of the Fund.
FxPro Financial Services Limited is authorised and regulated by the South Africa Financial Sector Conduct Authority (authorisation number 45052). The FSCA is the independent supervisory and regulatory authority for the non-banking services industry in South Africa.
FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas (license no. SIA-F184).
MIFID II Directive 2014/65/EU came into force on 3rd of January 2018 to strengthen investor protection and improve the functioning of financial markets making them more efficient, resilient and transparent. The Directive was adopted in Cyprus through the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017).
The key objectives of the European Union’s Markets in Financial Instruments Directive (MiFID II) are: to improve levels of efficiency, to increase financial transparency, to promote competition and to effectively protect consumers. MiFID II also allows investment firms to provide investment and ancillary services within the territory of another member state, provided that such services are covered by the investment firm’s authorisation.
FxPro partners with several major banking institutions. Client funds are kept in banks such as Barclays Bank PLC, Julius Baer and Royal Bank of Scotland. Internal limits ensure a diversification of client funds among banks while credit risk is regularly monitored. Client funds are only kept in jurisdictions where segregation of client funds is supported by the local legal framework.
FxPro offers Negative Balance Protection to all clients as part of the Client Agreement, given that it is not manipulated and is accepted in good faith. We are committed to a strict policy ensuring that clients may never lose more than their total deposits.
Protecting Client Funds
As a regulated entity, FxPro meets the following regulatory requirements relating to client funds:
All client funds deposited with FxPro are fully segregated from the company’s own funds and are kept in separate bank accounts. This ensures that funds belonging to clients cannot be used for any other purpose. Our financial reports are audited by PWC, a leading global financial auditor, ensuring that our operations are conducted to the highest possible standards.
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF). Eligibility depends on the status and the nature of the claim. Please refer to our legal documentation and compensation policy for further details.