ThinkMarkets Strengthens Insurance Protocols, Renewing £1m Customer Protection

ThinkMarkets, a brokerage offering a foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX), contracts-for-difference (CFDs), and metals products, has renewed its £1 million ($1.3 million) additional customer insurance protection, currently pegged as one of the most robust levels of compensation being deployed, relative to other brokers in the UK, according to a company statement.

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Many brokerages from around the industry routinely rely on the use of insurance policies or strong capital backstops. In addition, per the Financial Services Compensation Scheme (FSCS), all brokers regulated by the UK’s Financial Conduct Authority (FCA) offer their clients a minimum of £50,000.

However, ThinkMarkets has opted to exceed this threshold with an additional offer of £1 million protection for each client. The move is important as it helps articulate an ongoing commitment to security for retail clients, namely one that has gone far beyond the minimum levels advocated by regulatory regimes.

In most scenarios, the usage of such policies are typically not utilized on a regular basis, however the past two years have seen two large events shake the FX industry, including the Swiss National Banking (SNB) crisis and the more recent Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term referendum.

According to Faizan Anees, co-founder of ThinkMarkets, in a recent statement on the renewal of the insurance policy: “Maintaining investor protection and ensuring their security is paramount to our organisation.”

“We are proud to be able to call our comprehensive and additional offer of £1million insurance protection the highest amount currently available in the UK market. We take security very seriously and is a clear demonstration that we continue to strive for excellence in client service,” he added.