SquaredFinancial strengthens client fund security with $1 million insurance cover per client
The SquaredFinancial insurance policy safeguards client’s funds, which are housed in segregated accounts and held in trust with the client as the main beneficiary.
Client asset protection and the custodianship of funds has been a very significant item on the agenda of all major global financial markets regulators for at least the last ten years.
How FX brokerages handle and control the protection of client funds has become a vital question asked by all clients ever since the retail FX industry’s dawn, largely spurred on by some high profile demises in the early days of the retail sector’s influx of small to medium sized brokerages with off the shelf platforms.
The latest brokerage to demonstrate its high level of responsibility to clients is SquaredFinancial, which today has made an important change to the way clients funds are protected as it confirms a new insurance policy with Lloyd’s of London.
Manie Van Rooyen, Chief Executive of SquaredFinancial Seychelles, commented: “Client fund security is one of our highest priorities. In order to ensure our clients, the greatest level of security we have now introduced Client Funds Insurance, which, in the unlikely event something happened to SquaredFinancial, would pay out a maximum of US$1 million per client. This level of safety and security allows all of our clients to trade with total peace of mind.”
The SquaredFinancial insurance policy safeguards client’s funds, which are housed in segregated accounts and held in trust with the client as the main beneficiary. There is no crossover with corporate accounts and subject to the claims being approved by the insurer, clients would have all funds repaid up to the maximum limit.
“In all areas of our operations we want to have the highest levels of security from online safety through to the protection of funds. This allows clients to invest with confidence, knowing that whatever happens they are working with an authorised and regulated firm which has the highest standards for the protection of deposits.” added Mr Van Rooyen.
This is a very welcome development, and certainly goes toward providing very high levels of peace of mind for traders.