Compliance with Laws & Regulations
All employees are responsible for adhering to all the relevant laws and regulations as well as the rules and principles outlined in the Code of Conduct. Employees must ensure that they are familiar with the laws, regulations, best business practices, and the required ethical conduct, which is befitting for being our employee.
During daily business activities, employees are privileged to client information relating to account details, trade practices and patterns, fees & revenues, marketing practices, etc. Employees are required to keep this information confidential. This means they are not permitted to disclose this information to any third party unless they are legally permitted to do so.
Safety of Funds
Maintaining the security of your funds is paramount at FXGM. Close consideration should be taken before choosing a Forex broker. Traders should look closely at how their Forex brokers are ensuring their deposits are looked after. At FXGM, many steps have been taken to make sure that our clients’ funds are secure. At FXGM, we are grateful for the trust our clients have in us and we do all in our power to maintain the highest level of protection of their funds at all times. At FXGM, we are strongly committed to our clients. This is evident through the business decisions we make and the impeccable service we provide to all of our clients. Our financial integrity and formidable reputation is everything to us, therefore the protection of clients' funds comes first before anything else. Quite often the best way to judge a firm’s financial integrity is by its reputation and the commitment it shows to its clients through its service and business decisions. Our devotion to our clients has made our firm a respected industry leader. Investors must be prudent in regard to where they hold their funds and it is vital to consider the integrity of the firm and its management when making one’s decision.
What is the Investors' Compensation Fund?
The Investors’ Compensation Fund has been established to safeguard the claims of investors if a member provider of investment services cannot pay the investors’ claims in accordance with the agreement. Primarily, the investment firm or the credit institution whose client the investor is liable for the claims of the investor. The fund covers, inter alia, the transmission and execution of orders, asset management services and placing of financial instruments. Deposits are covered by the Investors Compensation Fund.
Who are members of the Investors' Compensation Fund?
All regulated Cyprus Investment Firms (CIF) and businesses such as, credit institutions and fund management companies providing asset management services are members of the compensation fund. Admission fees, annual contribution payments and administrative fees are collected from the members to increase the capital for an eventual compensation event and to cover the administration expenses.
Who will get compensation and what will be compensated from the Fund?
The protection provided by the compensation fund covers all non-professional clients. A private person is not a professional client unless classified by the service provider as a professional client. All assets held for the purpose of the client’s investment activities are to be kept separate from the member provider’s own assets and from the assets of other clients as provided in the relevant law. Consequently, the client’s assets must be available for return without delay whenever the client so requests. In unusual situations, the client’s assets may have been mixed with the service provider’s assets or are not for some other reason available for returning to the client without delay. If a member of the compensation fund has not returned the investor’s funds in accordance with the agreement, the compensation fund pays compensation for the investor’s funds. Insolvency of a member of the fund is a precondition for compensation. The fund does not cover losses incurred as a result of e.g. security price fluctuations. The client is always responsible for the consequences of his or her investment decisions.
What is the amount of the compensation?
The compensation to be paid to one investor is 9/10 of the claim the investor has from one service provider, however, no more than €20,000. The compensation is determined upon the market value of the securities at the date on which the Financial Supervision Authority (CySEC) made a decision on compensation liability or on which the service provider was placed into liquidation, began official restructuring proceedings or was declared bankrupt - depending on which date is the earlier.