With the account opening at FXFlat Bank customer funds are secured as follows:
The statutory deposit insurance provides the basis and offers in the event of insolvency up to 90% of the investor's claim from securities transactions, up to a maximum of € 20,000.00 per investor.
In addition, we have taken out a separate insurance protection for our customers, which can cover up to 500,000.00 €, should the statutory deposit insurance no longer be sufficient.
FXFlat thus offers you three pillars for the security of your deposits!
- Accounts segregated from company assets so that customer deposits remain independent of the broker
- Additional reserve accounts managed by FXFlat for sufficient liquidity
Legal deposit insurance
- FXFlat is a member of the compensation institutions of securities trading companies (EdW).
- Compensation claim up to 90% of the claim, but not more than 20.000,00 € per investor.
- FXFlat Bank is based in Germany
- FXFlat has concluded a voluntary insurance for its customers
- If the legal deposit insurance of 20.000,00 € is no longer sufficient, the additional insurance concluded by FXFlat takes effect.
- Customer funds are immediately covered up to 500.000,00 € by the additional policy
- The extended insurance protection is free of charge for the customers
- From when does the default insurance apply?
The insurance is effective immediately.
- What is the default insurance?
FXFlat has purchased a separate insurance cover, which covers loss in the event of insolvency, if the already existing statutory protection under the Investor Compensation Act in the amount of up to €20,000.00 per customer is not sufficient. Customer funds are insured at FXFlat up to an amount of €500.000,00.
- How much is the insurance coverage?
The protection extends up to a maximum sum of €500,000.00 per customer.
- What does the insurance cost?
For customers of FXFlat the additional protection is completely free of charge.
- Who is insured?
Default insurance is available to all eligible private clients, asset management companies and trading companies with annual turnover below €1,000,000.00.
- Who benefits from the insurance?
Those customers who deposit more than €20.000,00 at FXFlat can now benefit from an insurance that protects their funds above this amount.
- When does the insurance kick in?
If, in the event of an insolvency of FXFlat, the statutory compensation claim of the customers (per customer up to €20,000.00) is not sufficient, an additional protection of the customer funds is available by means of the default insurance. This covers claims of customers up to an amount of €500,000.00, provided that the conditions of the insured event, defined in the policy, are met. A summary of the conditions, as well as the exclusions and limitations of the policy can be found here.
- Who is the insurer?
The policy is underwritten by ARCH 2012 and COF 1036 and other participating partners of Lloyd's of London. Lloyd's is not a company. Rather, Lloyd's of London is the global specialty insurance market where members come together as syndicates to insure risks. Several syndicates each underwrite partial risks. For information about Lloyd's of London, visit www.lloyds.com.
- What other broker offers this insurance coverage?
FXFlat is a leader with regard to the protection of segregated client funds and is currently the only broker in Germany to offer such protection.