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ThinkMarkets renews £1 million insurance protection

Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital

London-based FX brokerage ThinkMarkets has today announced the renewal of their £1 million additional customer insurance protection – making it one of the highest level of compensation available on the UK market. “We are proud to be able to call our comprehensive and additional offer of £1 million insurance protection the highest amount currently available […]

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London-based FX brokerage ThinkMarkets has today announced the renewal of their £1 million additional customer insurance protection – making it one of the highest level of compensation available on the UK market.

“We are proud to be able to call our comprehensive and additional offer of £1 million 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.”

The industry standard requires all FCA regulated brokers offer their clients a minimum of £50,000 in accordance with the Financial Services Compensation Scheme (FSCS).

ThinkMarkets have committed to renew their additional offer of £1 million protection for each client to demonstrate their ongoing commitment to ensuring the security of their retail and professional clients’ assets by allocating their funds to go above and beyond the FSCS requirement.

Faizan Anees, co-founder of ThinkMarkets, commented: “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 £1 million 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.”

The added protection of the insurance complements ThinkMarkets’commitment to offering a market leading trading experience with low spreads creating added value for its clients, supported by the recent launch of its proprietary trading platform, ThinkTrader and its advanced client money protection support.

*The highest provision in the UK alongside ThinkMarkets is offered by another UK-based broker at £1 million. Further afield global contenders, such as Canada, offer CAD$ 1 million – from the Canadian Investor Protection Fund – and the Securities Investor Protection Corporation in the USA offer US$ 500,000.

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