Safety of Funds
SMPFOREX is committed to keeping your money safe
SMPFOREX is a UK-headquartered financial services company authorised and regulated by the Financial Conduct Authority(FCA). This gives our clients assurance that any funds held with us are secure and that our resources are adequately managed at all times.
Segregation of funds
As a retail client, you can rest assured that your funds are segregated under the FCA’s client money rules and cannot be used by us, our prime brokers or our counterparties.
Protection through the FSCS
Our clients may be eligible to put a claim into the Financial Services Compensation Scheme (FSCS) in the event that SMPFOREX is unable to meet its financial obligations. Eligibility depends on the status and the nature of the claim. Please refer to the regulation section for more information.
Bank accounts in tier 1 banks
Funds, whether they are classified as company funds of client funds, are kept in Barclays, HSBC and Royal Bank of Canada, three of the safest top tier banks. Company funds are also held with both Morgan Stanley and Citi, the company’s prime brokers.
Supervision by the regulator
All firms regulated by the FCA have to meet strict financial standards, including capital adequacy requirements. Companies are required to submit financial reports to the regulator on a regular basis. The FCA has the right to fine companies and/or terminate a company’s regulatory status for violations. SMPFOREX has a dedicated dealing desk which constantly monitors our financial position and sets appropriate risk limits.
Our annual financial reports are audited by a leading UK financial auditor: Grant Thornton UK LLP.
Automated risk management
SMPFOREX’s automated risk management system is designed to reduce the risk of your trading account being depleted to zero or turning negative.
Prime brokerage and fast execution
SMPFOREX’s best execution commitment is tied to our belief that the prime broker model is mutually beneficial. This model enables us to offer accurate and fast execution on aggregated multibank liquidity, with the added bonus of lower costs. The prime broker model gives us the opportunity to deliver a professional, institutional-level trading system to the retail market.
In addition, SMPFOREX also provides the following benefits:
Popular trading platforms including MT4
Floating leverage up to 1:400
Free research tools
World class client services