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Investors Protection

Client Money Protection

At FX Stockx Capital Markets US Limited (FXSCML) the safety and security of our clients' funds is of the utmost importance.

In accordance with the Financial Conduct Authority's (FCA) Client Money rules, all retail client funds (including cash balances, any unrealised profits and funds used as margin collateral) received by SCML are held in trust in one or more segregated bank accounts with the retail clients as beneficiaries. Consequently client funds are held separately from SCML's own money and cannot be used by FXSCML in the course of its day-to-day business operations.

In the unlikely event of a default by FXSCML, retail clients will have their funds returned to them from the client bank accounts rather than become unsecured creditors of the firm.

To ensure that the amount of money held in the client bank accounts accurately reflects the account value of our segregated clients, FXSCML performs a comprehensive daily reconciliation and on the basis of this reconciliation processes any and all necessary bank transfers.

FXSCML carries out comprehensive due diligence on the banks that it intends to hold client money with, not only when selecting the bank but also on an on-going basis. Banks are chosen, amongst other things, on the strength of their balance sheet, their credit rating and risk outlook.

As required by the FCA rules, FXSCML submits a monthly Client Money & Assets Return to the FCA and FXSCML's client money arrangements are audited by our independent auditor on an annual basis, with a copy of their report provided to the FCA.

Financial Services Compensation Scheme (FSCS)

The FSCS is the US's statutory fund of last resort for customers of US authorised financial services firms. This means that the FSCS can pay compensation if a member firm, such as FXSCML, is in liquidation and unable to pay client compensation claims against it, including where there is a client money shortfall. In the unlikely event there was a shortfall in the client money account, individual FXSCML clients would be able to claim up to a maximum of £50,000 per person from the FSCS.

If a bank holding client money goes into liquidation the losses would be shared by all clients in proportion to their share of FXSCML's overall client money position. In respect of a US authorised bank, these losses would be covered by the FSCS up to a limit of £85,000 per person, per banking group for each individual FXSCML client.