Safety of Funds
Your financial security is of utmost importance to us. To that end, we have taken all possible steps to provide our clients with peace of mind so that when you choose to trade with PipIndex, you are choosing to trade with one of the safest and most reputable companies in the industry.
PipIndex’s client money processes and compliance with FCA rules are audited annually by its statutory auditors and then reported to the FCA. The regulated FCA entity, Finsa Europe Limited, is required to file individual Client Money Asset Returns with the regulator on a monthly basis. This measure provides PipIndex with a monthly “health check” with regard to the treatment of our client monies.
PipIndex Capital Markets and PipIndex are registered trading names of Finsa Europe Limited. Finsa Europe Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA Register number 525164. Company number 07073413. Registered office: 110 Fenchurch Street, London, EC3M 5JT, United Kingdom.
All client funds, without any exceptions, are fully segregated into a special client account and kept separate from PipIndex’s company funds. Segregation provides complete security by ensuring that client funds will not be used to pay back creditors in the unlikely event of the default or insolvency of PipIndex. All funds, whether they are classified as company funds or client funds, are kept without any exception in world class financial European institutions, amongst the safest in their category.
PipIndex’s client money processes and compliance with FCA rules are audited annually by its statutory auditors and then reported to the FCA. The regulated FCA entity, Finsa Europe Limited, is required to file individual Client Money Asset Returns with the regulator on a monthly basis. This measure provides PipIndex with a monthly “health check” with regard to the treatment of our client monies. Capital protection at PipIndex Capital Markets – keeping your funds secure.
SAFETY OF FUNDS
PipIndex Capital Markets is required, under FCA client money rules, to segregate all retail client funds from our own funds. This means that we must take all required steps to ensure that the clients’ money is held in a separate / segregated account away from any accounts used to hold money belonging to the firm. The purpose of this segregation is to prevent the firm using client money for its own purposes at all times. All funds, whether they are classified as company funds or client funds, are kept without any exception in world class financial European institutions, amongst the safest in their category.
What is the Financial Services Compensation Scheme?
The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensator of last resort for customers of financial services companies. This includes PipIndex Capital Markets.
In the unlikely event that PipIndex Capital Markets is no longer able to meet its financial obligations, you can submit a claim to the FSCS. This scheme protects up to £50,000 per person.
Further than that, the FSCS also protects the money held in our segregated retail accounts. If a bank holding the funds you have deposited with PipIndex Capital Markets goes into liquidation you will be able to claim up to £85,000 per person and per institution.
You can find out more from this booklet (PDF) or on the FSCS website.
Who can make a claim from FSCS (what is an eligible claimant)?
To be eligible for compensation you must have lost money because of your dealings with a regulated financial services firm. FSCS can only pay compensation for financial loss.
The FSCS rules which are made for them by the Financial Conduct Authority (FCA) tell the FSCS which types of claim qualify for compensation, and limit how much compensation they are allowed to pay.
Different rules and limits apply to different types of claims. The rules for FSCS form part of the FCA’s handbook. This is available on their website at fca.org.uk.
When will FSCS become relevant?
If you have a claim against a firm that has stopped trading and you have tried to contact the firm (or its owners) to see if they can pay your claim and the company is unable to pay itself, the FSCS may then be in a position to help you.
If you have a claim or complaint against an authorised firm that is still in business, you should contact that firm directly. If your complaint is not resolved, you can contact the Financial Ombudsman Service (FOS).
What is the difference between the FSCS and the FOS?
The FSCS considers claims from consumers against firms that are no longer trading if the firm (or its owners) does not have sufficient assets to pay claims itself. The FOS considers complaints about firms which are still trading if both the consumer and the firm cannot reach agreement.