ICM Capital announced today that it has enhanced its client-fund protection to cover £1,000,000 ($1,226,660). The new insurance is available to all ICM Capital live account holders at no extra cost and is underwritten by QBE Underwriting and other participating syndicates at Lloyd’s of London.
The UK-headquartered FCA regulated broker which Finance Magnates last reported on in May last year after it became the main sponsor for the England Polo Team, is one of just a few brokers that provides clients with enhanced and extended protection for their trading funds via Lloyd’s of London, one of the world’s most reputed insurance organisations.
ICM Capital clients can now benefit from enhanced fund protection up to £1,000,000.
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Investors are protected for up to £50,000 by the Financial Services Compensation Scheme (per person per firm) 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. In the unlikely event of ICM Capital being declared in default, the firm now has in place a fund protection policy of up to £1,000,000.
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 protection. ICM Capital clients can now benefit from 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.”
Lloyd’s of London is known as the world’s specialist insurance market and works with a global network to enhance the insurance possibilities for organisations as well as individuals. It is backed by substantial global capital and has excellent financial ratings.