When you open an account with us we will hold your money in accordance with the UK Financial Conduct Authority's client money protection rules. Under these rules, we deposit each client's money into a segregated client bank account.
The Financial Services Compensation Scheme (FSCS) is the UK’s compensation fund of last resort for customers of authorised financial services firms. If a firm becomes insolvent or ceases trading, the FSCS may be able to pay compensation to its customers. The FSCS covers business conducted by firms authorised by the FCA.
Clients of Plus500UK Ltd would fall under the ‘investments’ claim category, whereby the cover is £50,000 per person per firm. If a client held an account with an authorised investment firm and there was a shortfall in segregation, they might still receive up to £50,000 in compensation. If Plus500UK Ltd went into liquidation, clients whose funds were held in segregated accounts would have their share of the segregated money pool returned, minus the administrators’ costs in handling and distributing these funds. If there was a shortfall then individuals may be eligible for compensation from the Financial Services Compensation Scheme.
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