Wanted: FSA regulated (UK) FX ECN broker - Page 4
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Thread: Wanted: FSA regulated (UK) FX ECN broker

  1. #31

  2. #32
    Noone has mentioned FX Open UK ECN

  3. #33

  4. #34
    Quote Originally Posted by ;
    Noone has Said FX Open UK ECN
    There appears to be discrepencies between Announcement on the FxOpen UK Website - About Us #8594; Safety of Funding and Stipulations. Watch Statements 1 and 2 Statements 2.

    In regards to security of customers capital the FxOpen UK site says - All customer funds are ring-fenced at Barclays Bank Plc in London, a Tier 1 Banking and Credit institution - while the Terms and Conditions nations - 29.1.3: Any money you transfer to us which is moved to us on your benefit being Client Money within the meaning of the Client Money Rules will be held with a bank in the UK but may also be held in a non-UK bank - and - 29.1.4: We may hold Client Money on your behalf in an account with a bank or third party loed outside the European Economic Area (EEA) - and - 29.1.5: We will not be responsible for the failure or insolvency of any bank or third party holding money however, if your money is held inside an EEA country, a percentage of your money balance may qualify for reimbursement arrangements because authority.

    Notice: The above impacts on Statements 3 below

    Statements 1 : FxOpen Website, About Us #8594; Safety of Money.
    Accounts with a Top Tier Bank
    All customer funds are ring-fenced at Barclays Bank Plc in London, a Tier 1 Banking and Credit institution. - benchmark https://www.fxopen.co.uk/en/safety-of-funds/ (26-March-2016)

    Definition: Ring Fencing Banks
    Ring fencing is a phrase to describe the situation where a company makes part of its business a separate entity to the remainder of its business. The purpose or ring-fencing an element of your business is that losses in one area cant influence another. - benchmark -http://www.economicshelp.org/blog/31...fencing-banks/

    Statements 2: #8594; Terms and Conditions (pdf connection, page base) - benchmark https://www.fxopen.co.uk/ (26-March-2016)
    29. CLIENT MONEY AND ASSETS
    29.1 Retail customers just
    29.1.1 Clause 29.1 applies to Retail Customers only.
    29.1.2 Any money received by us in regard to your Account will likely be
    treated as Client Money in accore with the FCA's Client
    Money Rules.
    29.1.3 Any money you transfer to us which is moved to us on
    your benefit being Client Money within the meaning of this
    Client Money Rules will be held with a bank in the UK but can
    also be held in a non-UK bank. Your funds will be redeemed
    from our money in accore with the requirements of
    the Client Money Rules and in the event of our insolvency, it
    will be excluded from our resources.
    29.1.4 We can hold Client Money on your own behalf in an account with a
    bank or third party loed outside the European Economic
    Area (EEA). This account will be redeemed from our money
    or resources which may be held together with the bank or third party. The
    regulatory and legal regime applying to any such bank or third
    party may be different from that of the UK and in the event of
    the insolvency or any other equal failure of the bank or
    third party, your funds may not be as effectively protected as
    if your money is held with an equal bank or third party in
    the UK.
    29.1.5 We will not be responsible for the failure or insolvency of any bank or
    third party holding money however, if your money is held
    inside an EEA country, a percentage of your money balance may
    qualify for reimbursement arrangements because jurisdiction.

    Statements 3. FxOpen Website, About Us #8594; Safety of Money.
    Investor Protection
    All retail customers of FXOpen UK, whether you are a UK citizen or not, have their capital completely protected up to 50,000 from the FSCS in the function that FXOpen UK is unable to return client money. More information can be found at: http://www.fscs.org.uk. - benchmark https://www.fxopen.co.uk/en/safety-of-funds/ (26-March-2016)

    However, with reference to Statements 2: Terms and Conditions 29.1.3, 29.1.3 and 29.1.5 #8594; in summary, FxOpen UK not responsible for loss of Client Money against Bank failures and insolvencies....and holding Client Money in an account with a bank or third party loed outside the European Economic Area (EEA) and Statements 1: All customer funds are ring-fenced at Barclays Bank Plc in London, notice the following:

    a) the Financial Services Compensation Scheme (FSCS) will not pay compensation when a company has sufficient resources or means to cover claims made against it. - benchmark - How to claim reimbursement: Measure 2: http://www.fca.org.uk/consumers/comp...m-compensation

    b) Bank Ring-Fencing:

    Crown Dependencies
    Recently drafts there was an exemption to allow ring-fenced banks to keep branches in the Crown Dependencies, despite being banned from using non-EEA branches or subsidiaries. The Treasury had stated that deposits from the Crown Dependencies play a valuable part in the funding mix and liquidity base of UK ring-fenced banks and as such, access of UK ring-fenced banks into the Crown Dependencies has positive impliions for UK financial stability. However, this exemption was eliminated ring-fenced banks will not be allowed branches (or subsidiaries) in these lands. The documents do not give any explanation. Reference - http://blogs.deloitte.co.uk/financia...g-fencing.html

  5. #35

    Comment: No implementation metrics found on site to support over.

    PhillipCapital UK is a trading name of King Shaxson Capital Limited (Company Number: 2863591). Registered Office: 6th Floor, Candlewick House, 120 Cannon Street, London. Registered in England and part of the PhillipCapital Group. King Shaxson Capital Limited (Firm Reference Number: 169760) is Authorised and Regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.

    https://www.phillipcapitaluk.com/

  6. #36
    Quote Originally Posted by ;
    image Comment: No execution metrics found on website to support over. PhillipCapital UK is a trading title of King Shaxson Capital Limited (Company Number: 2863591). Registered Office: 6th Floor, Candlewick House, 120 Cannon Street, London, EC4N 6AS. Registered in England and part of this PhillipCapital Group. King Shaxson Capital Limited (Business Reference Number: 169760) is Authorised and Regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS. Https://www.phillipcapitaluk.com/
    they're not ecn.
    Just stp.

  7. #37
    Try these:

    phillipcapitaluk
    ayondo
    houseofborse
    valutrades

    all with FCA

  8. #38

  9. #39

  10. #40

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