FxPro - News

FxPro

761.75 6.25/10
89% of positive reviews
Real

Important information regarding Brexit

The transition period for the UK to effectively leave the European Union ends on the 31st of December 2020. We would therefore like to inform you of what this means in terms of the services we provide to you. General information related to how Brexit may affect you can be found here.

Please be aware that the market may experience increased volatility during and after the transition period, and therefore if you have open positions, we recommend that you monitor your exposure at all times and be prepared for any potential impacts on your trading, especially GBP or EURO based instruments.

If you are an EEA Resident currently under FxPro UK

How does this affect you?

Following the departure of the UK from the EU, we will no longer be able to service clients in the EEA. To ensure continuity of our services, on the 30th December 2020, we will transfer your account to our European entity based in Cyprus, namely FxPro Financial Services Ltd (FxPro FS) that is authorised and regulated by the Cyprus Securities and Exchange Commission. Any positions that remain open until the 30th of December midnight server time (EET, UTC 2), will be automatically transferred as well, thus any unrealised profit or loss will remain as is and will not be realised or affected in any way.

Your regulatory protections

If you agree to be serviced from our EU entity you will continue to receive the same quality of service and regulatory protection in terms of maximum leverage, best execution, data protection and safety of funds. You should note, however, that there are differences in some of the regulatory protections for retail clients such as investor compensation. The Investor Compensation Fund (Cyprus) covers a maximum of EUR 20,000 per eligible client, per firm, whereas the Financial Services Compensation Scheme (UK) covers up to GBP 85,000 per eligible client, per firm. Also, if you were to raise a complaint you would do so via the Financial Ombudsman of Cyprus and not the Financial Ombudsman Service in the United Kingdom.

New legal documents

Once your account is transferred to our EU entity, you will be bound by the FxPro FS Client Agreement, FxPro FS Order Execution Policy as well as the FxPro FS Conflicts of Interest Policy and any other documents available under the ‘Legal Documentation’ section of our website, applicable to all clients under FxPro FS.

If you are a UK Resident currently under FxPro Financial Services

How does this affect you?

Following the departure of the UK from the EU, we will no longer be able to service clients who reside in the UK. To ensure the continuity of our services, on the 30th December 2020, we will transfer your account to our UK entity, namely FxPro UK Ltd (FxPro UK) that is authorised and regulated by the Financial Conduct Authority. Any positions that remain open until the 30th of December midnight server time (EET, UTC 2) will be automatically transferred as well, thus any unrealised profit or loss will remain as is and will not be realised or affected in any way.

Your regulatory protections

If you agree to be serviced from our UK entity, you will continue to receive the same quality of service and regulatory protection in terms of maximum leverage, best execution, data protection and safety of funds. You should note, however, that there are differences in some of the regulatory protections for retail clients such as investor compensation. The Investor Compensation Fund (Cyprus) covers a maximum of EUR 20,000 per eligible client, per firm, whereas the Financial Services Compensation Scheme (UK) covers up to GBP 85,000 per eligible client, per firm. Also, if you were to raise a complaint you would do so via the Financial Ombudsman Service in the United Kingdom and not the Financial Ombudsman of Cyprus.

New legal documents

Once your account is transferred to our UK entity, you will be bound by the FxPro UK Client Agreement, FxPro UK Order Execution Policy as well as the FxPro UK Conflicts of Interest Policy and any other documents available under the ‘Legal Documentation’ section of our website, applicable to all clients under FxPro UK.

Contact us

If you do not wish to transfer your account, please let us know by the 28th of December and we will proceed by terminating your relationship with us.

Should you require any further information please contact our Customer Support Team 24/5 via email @ [email protected], phone at 44 (0) 203 151 5550 or you can use our live chat service.


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree