Following up on the Long term investing reassurance (hopefully) topic, does Brexit have any consequences on the long-term investing with T212 if someone is from the EU?
Are the points that were made on Long term investing reassurance (hopefully) - #5 by AlexK still valid today for EU nationals? To expand on that:
- Are the funds still protected by FSCS? And up to 85k pounds?
- Is the 85K only the cash in your account, or is this investments + cash ?
- Are the securities still being held with Interactive Brokers? And if so, in which country does IB keep them? I suppose it should be in the UK/Luxembourg/Ireland.
- Is the cash still being held with Barclays?
- In the worst case scenario when T212 goes bankrupt, what happens with my investments? Are they held by a third party? And is there any guarantee that I get all of them back. Or are my investments transferred to IBKR and can i continue investing with them, since my equity is in custody with IBKR?
And if all of the above things are still the same, can someone explain how T212 has managed to continue serving UK and EU nationals after Brexit?
I know there are several topics on this but I can’t find a clear answer on these questions.
So i thought it would be a good idea to create a new one with clear answers (also for other/ new investors).
Thanks for your help in advance!
Let me know if this makes sense to you and if you have any ideas