BUX Markets: Is my funds safe?
  Source:BUX Markets 2023-04-13 10:53:24
Description:

Is my funds safe?


Yes, your funds are secure. As a company regulated by the FCA, we have an obligation to separate retail customer funds from company funds. To learn more about our extensive customer security measures, please refer to our 'Security' page


We ensure that strict control measures are implemented to ensure the funds of our clients.


Some of them are:


Conduct daily internal reconciliations to ensure that we have sufficient customer funds to cover all retail customer debts.


Customer funds are only deposited with reputable global banks and are regularly reviewed to ensure their financial condition is good.


Regularly submit customer funding reports to FCA to demonstrate our liquidity and solvency.


All customer funds are deposited in the bank's trust account, so any creditor in the BUX market has no legal right, nor can the BUX market use any of this money to pay their obligations, and is subject to the controls and procedures required by the FCA.


An independent company conducts annual customer fund audit


In addition, the BUX market is protected by the Financial Services Compensation Scheme ("FSCS"). This means that in unlikely circumstances, due to the inability of the BUX market to fulfill its financial obligations, FSCS can make up for a gap of up to £ 85000 (or its equivalent in euros).