Titan FX institutes Ironclad Protection Against Liability and Complaints

by FM
Disclaimer
  • Vanuatu-based broker plays it safe with 360° Trader Protection Policy.
Martin St-Hilaire, CPA, Managing Director at Titan FX
Martin St-Hilaire, CPA, Managing Director at Titan FX
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Multi-asset broker Titan FX is fortifying its business and client security with the 360° Trader Protection Policy. Among the perks are an extensive liability insurance package, multi-jurisdiction licensing, third-party financial audits, strict segregation of client funds, conservative liquidity ratios, and a compensation fund covering up to €20,000 per trader.

Earlier this year Titan FX entered into a partnership with Howden Group, a global insurance provider with a network of 25,000 professionals in 45 countries, to secure Professional Indemnity Insurance of up to US$500,000 per claim and in the aggregate. It also has an agreement with Directors & Officers Liability Insurance for up to US$2,500,000 per claim and in the aggregate. The lead underwriter is Antares Underwriting, Lloyds Syndicate 1274, an A-rated (Excellent) insurer affiliated with Lloyd’s of London.

“Our partnership with a respected insurance provider means that our traders don’t have to trust that their investments are safeguarded against unforeseen circumstances. They’ll know it for a fact,” said Martin St-Hilaire, Titan FX Managing Director.

Zero tolerance for poor risk management

Headquartered in the Southwest Pacific island nation of Vanuatu, where it employs a core staff of 30, Titan FX also worked tirelessly to obtain licensing in three more jurisdictions: Mauritius, Seychelles and the British Virgin Islands. Since the license allows for different types of brokerage activities, this multi-jurisdiction licensing strategy gives the broker long-term regulatory resilience, while offering traders more flexibility.

When it comes to accounting, Titan FX plays 100% defence, with zero tolerance for the poor risk management that has so recently plagued the forex and crypto industry.

The broker has a strict policy of segregating client funds at all times, which means they’re never used for operational purposes and are subject to daily reconciliation to determine settlement obligations with its clients. It also monitors its capital adequacy and liquidity ratios in real time to make sure they’re within certain limits.

Every year, its financial reports and compliance controls are audited by DFK Collins, an Australia-based member firm of DFK International, a worldwide association of independent accounting firms and business advisors.

In addition to financial risk attenuation, Titan FX also provides a mechanism for resolving any trader complaint that can’t be resolved internally. Through The Financial Commission, a Hong-Kong based international organisation engaged in the resolution of disputes within the CFD trading industry, Titan FX customers can receive up to €20,000 in compensation.

Investing in trader trust

“We simply follow the best practices to build a reliable, trustworthy business. They should be standard for every CFD broker in the world,” noted St-Hilaire, one of the few chief executives in the industry who is a Chartered Professional Accountant. He earned the designation more than two decades ago in Canada, where he did a few stints at Big 4-type firms and taught accounting at Laval University. Since moving to Vanuatu in 2003, he’s been a prominent member of the country’s business community.

“Good insurance coverage, vigilant regulatory compliance and prudent accounting are some of the ways we deliver the best possible conditions to our traders and empower them to be their best, no matter the market conditions. In the end it’s about showing our customers that we care about them,” St-Hilaire added.

“Yes, it takes a lot of work, but our traders’ trust us over the long run and we don’t have to fight high churn with an arsenal of promotions and pressure-sale tricks. We stay humble, play safe and slowly, but surely, grow.”

Learn more about regulation and trust at Titan FX

Multi-asset broker Titan FX is fortifying its business and client security with the 360° Trader Protection Policy. Among the perks are an extensive liability insurance package, multi-jurisdiction licensing, third-party financial audits, strict segregation of client funds, conservative liquidity ratios, and a compensation fund covering up to €20,000 per trader.

Earlier this year Titan FX entered into a partnership with Howden Group, a global insurance provider with a network of 25,000 professionals in 45 countries, to secure Professional Indemnity Insurance of up to US$500,000 per claim and in the aggregate. It also has an agreement with Directors & Officers Liability Insurance for up to US$2,500,000 per claim and in the aggregate. The lead underwriter is Antares Underwriting, Lloyds Syndicate 1274, an A-rated (Excellent) insurer affiliated with Lloyd’s of London.

“Our partnership with a respected insurance provider means that our traders don’t have to trust that their investments are safeguarded against unforeseen circumstances. They’ll know it for a fact,” said Martin St-Hilaire, Titan FX Managing Director.

Zero tolerance for poor risk management

Headquartered in the Southwest Pacific island nation of Vanuatu, where it employs a core staff of 30, Titan FX also worked tirelessly to obtain licensing in three more jurisdictions: Mauritius, Seychelles and the British Virgin Islands. Since the license allows for different types of brokerage activities, this multi-jurisdiction licensing strategy gives the broker long-term regulatory resilience, while offering traders more flexibility.

When it comes to accounting, Titan FX plays 100% defence, with zero tolerance for the poor risk management that has so recently plagued the forex and crypto industry.

The broker has a strict policy of segregating client funds at all times, which means they’re never used for operational purposes and are subject to daily reconciliation to determine settlement obligations with its clients. It also monitors its capital adequacy and liquidity ratios in real time to make sure they’re within certain limits.

Every year, its financial reports and compliance controls are audited by DFK Collins, an Australia-based member firm of DFK International, a worldwide association of independent accounting firms and business advisors.

In addition to financial risk attenuation, Titan FX also provides a mechanism for resolving any trader complaint that can’t be resolved internally. Through The Financial Commission, a Hong-Kong based international organisation engaged in the resolution of disputes within the CFD trading industry, Titan FX customers can receive up to €20,000 in compensation.

Investing in trader trust

“We simply follow the best practices to build a reliable, trustworthy business. They should be standard for every CFD broker in the world,” noted St-Hilaire, one of the few chief executives in the industry who is a Chartered Professional Accountant. He earned the designation more than two decades ago in Canada, where he did a few stints at Big 4-type firms and taught accounting at Laval University. Since moving to Vanuatu in 2003, he’s been a prominent member of the country’s business community.

“Good insurance coverage, vigilant regulatory compliance and prudent accounting are some of the ways we deliver the best possible conditions to our traders and empower them to be their best, no matter the market conditions. In the end it’s about showing our customers that we care about them,” St-Hilaire added.

“Yes, it takes a lot of work, but our traders’ trust us over the long run and we don’t have to fight high churn with an arsenal of promotions and pressure-sale tricks. We stay humble, play safe and slowly, but surely, grow.”

Learn more about regulation and trust at Titan FX

FM
Disclaimer
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