Tony.V
November 10, 2020, 12:40pm
2
Where do you read that?
Below you have the answer. In a nutshell: all UK & EU clients are onboard in the FCA regulated entity:
https://community.trading212.com/t/how-will-brexit-affect-trading-212-still-fca-regulated/1165/11?u=tony.v
Thus:
Does the FSCS rules dictate the clients’ funds have to be deposited in a UK based bank ? Because I couldn’t see this at the link you gave @Dao and haven’t yet seen a source stating this !
And is the compensation scheme only for only for cash funds or also for the securities ? Because it’s unclear to me from their statement…
Yes, both your funds and stocks are covered by FSCS. It doesn’t really matter where our funds are stored, since the levies which we pay are going directly to FSCS. Hence…
See the following:
Officially we are still awaiting UK / EU arrangements regarding financial services to be finalized (probably by the end of October).
Unofficially we have been preparing for more than a year for all Brexit scenarios. So when the UK /EU announce their final decision, we will be ready to deploy the respective business continuity plan and act accordingly.
In a nutshell: no worries at all - everything is well planned & organized on our side: your investments are safe while using our service. Needle…
Yes, they are.
Let me know if other doubts arise.
6 Likes
If you’re referring about yesterday when most of the other brokers were also offline during the spike, then I cannot really define this as “often”. But fair would be the rest of the community members to share also their experience. 