Investing in financial markets is always risky. Despite the effort made by brokers to provide investors with safe and profitable investments, there are still many variables that can pose a threat to investors’ wealth. Given this, it is essential to choose a broker that understands the risks and compensates their clients in cases of failure to comply with their responsibilities. Ig Markets is a leading broker in the market and is known for its unique compensation scheme. This article will discuss everything you need to know about Ig Markets compensation scheme.
Ig Markets is a multi-award-winning trading company that offers its clients access to over 17,000 markets worldwide. The company was founded in 1974 and has over 45 years of experience in the trading industry. Ig Markets is a regulated company, and its clients’ security comes first. The company operates in compliance with various regulatory bodies such as the Financial Conduct Authority in the UK and the Australian Securities and Investments Commission (ASIC).
Ig Markets offers a unique compensation scheme known as the “Ig Markets Client Money Insurance.” This is an additional insurance policy that protects clients’ money in case of the broker’s insolvency. The insurance is valid for all clients, and there are no additional charges for its application. The Client Money Insurance ensures that all clients’ funds held with Ig Markets are protected and segregated from company funds. This means that in the unlikely event of the company’s insolvency, clients’ funds will be returned to them up to £85,000 (or currency equivalent).
The Client Money Insurance is aligned with the FCA’s rules for the protection of client funds. The FCA requires all regulated firms to hold clients’ money in a segregated account from the company money. This is to ensure that clients’ funds cannot be used to pay creditors if the firm becomes insolvent. Additionally, the Client Money Insurance covers clients worldwide. This means that customers from other countries outside the UK will also benefit from the insurance.
Ig Markets also has a “Negative Balance Protection.” This is a policy that provides protection against market volatility and ensures that clients’ account balance cannot go below zero. In the past, many traders have incurred significant losses due to market movements, and their account balances have turned red. In such cases, the broker demanded payment for the negative amount, and traders were liable for the losses.
However, with Negative Balance Protection policy, Ig Markets has guaranteed that their clients’ losses will never exceed their deposits. This means that if a client’s account balance goes below zero due to market volatility, the company will absorb the loss and not demand payment from the client.
Furthermore, Ig Markets has a dedicated team of customer support that ensures clients’ questions are answered promptly. The customer team is available for 24 hours a day, five days a week. Clients can contact the company through various channels, including email, phone, and live chat. The company’s website also provides various resources, including educational materials and market analysis, to help clients make informed decisions.
In conclusion, investing in financial markets comes with significant risks. However, choosing a broker that values their clients’ security is essential. Ig Markets is a leading broker that operates in compliance with various regulatory bodies. The company offers an additional insurance policy known as Client Money Insurance, which protects clients’ funds in case of the broker’s insolvency. Moreover, the company has a Negative Balance Protection policy that ensures clients’ account balance cannot go below zero. Investors can, therefore, trust Ig Markets with their investments, knowing that their funds are safe and secure.