- Retail/private client money, including cash, margin and unrealised gains, are kept in distinct client money accounts at reputable banks and are clearly separated from FX CAP Market own funds
- The banks used are regularly reviewed for compliance with our risk management criteria
-FX CAP Market does not lodge retail client money towards margins with its hedging counterparties
FX CAP Market UK plc and FX CAP Market Germany GmbH (together FX CAP Market”) are regulated firms which means they must comply with the regulatory regimes on handling retail/private client money.
When you open an account with FX CAP Market you are categorised as a retail/private client. Unless you are informed of a different categorisation and you explicitly consent to the "title transfer" of your funds, your money is treated as retail/private client money.
Retail/private client money, including cash, margin and unrealised gains are managed separately from FX CAP Market' own funds, so that retail/private client money can be protected and creditors cannot access this money if the company becomes insolvent.
Retail/private client money is held using separate bank accounts at reputable banks. Retail/private client money for those clients that have been onboarded via our branch offices are pooled together.
For client trading accounts held with FX CAP Market UK plc, the following UK banks are used: Natwest, Barclays, and Lloyds.
FX CAP Market UK plc may place funds in notice or term deposit accounts, which require a notice period of up to 95 days for withdrawals. This does not in itself affect your ability to deal with or withdraw funds from your account with us, however a longer notice period for withdrawals could result in a delay for clients to receive back their money.
For client trading accounts held with FX CAP Market Germany GmbH the following bank is used: Barclays Bank Ireland plc Frankfurt Branch.
This means that your client funds are not necessarily kept in your country of residence.
Retail/private client money are kept in separate trust accounts. By keeping retail/private client money separate from FX CAP Market’ own funds, it ensures that retail/private money is not owned and cannot be used by FX CAP Market, as it is held on trust for retail/private clients. It is managed in such a way that the funds are recognisable as retail/private client money at any time.
FX CAP Market conducts retail/private client money reconciliations daily in accordance with regulatory requirements. The process ensures that retail/private client money held in segregated bank accounts always accurately reflects retail/private client money. The full trading account value of a trading account is treated as retail/private client money. FX CAP Market performs daily client money reconciliations in accordance with FCA requirements. This process ensures that funds held in segregated bank accounts always accurately reflect retail client assets. The full value of a client trading account is treated as client money. Our two FCA regulated entities, FX CAP Market UK plc and CMC Spreadbet plc, are required to file individual Client Money Asset Returns (CMAR) on a monthly basis with the regulator.
To ensure the correct handling of customer deposits, FX CAP Market is audited annually by our auditors the result of which is presented to the regulator. In addition, internal audits are conducted by independent non-executive directors.
FX CAP Market does comply with local client money rules and makes individual customer deposit calculations on a daily basis.
In relation to trading accounts held with FX CAP Market UK plc: a stand-alone statement of client money asset returns (CMARs) is submitted to the regulator once a month. This can be described as a routine monthly check-up by the company with regard to its treatment of customer deposits.
