Would it be possible the amount of money that is protected for those T212 clients who oppened annaccount outside EU.
What is the regulation for them?
I don’t think country of residence has any role to play. All money is behind ring fence account in UK bank. Protected by FSCS schema.
I’m confused with this text:
“In the unlikely event of default, the FSCS compensation is up to GBP 85 000 and the ICF Bulgaria compensation is up to 90% (but limited to EUR 20 000) of the client’s funds. Each client will be compensated if one of our companies fails to comply with its obligations to the clients due to its financial state.“
Does it means all accounts in T212 dispate of the country are covered up to GBP 85000 + EUR 20000?
everyone is covered by the UK FSCS protection. the mention of Bulgaria european coverage is there just in case something should change that means Trading212 would no longer be covered by FSCS. It’s legal speak so T212 can say it has all its bases covered and to always provide clients with some security/insurance. so it would be just the £85,000 practically.
even that wouldn’t need to be used unless something drastic happened.