If traders’ funds are not entirely recuperated following the insolvency of 8Safe UK(IronFX), supplementary coverage is afforded to offer protection above the FSCS limit of £50,000 per client.
The policy will be upheld providing that the following causes have been met:
- 8Safe UK is declared insolvent by the FSCS.
- Discovery of a shortfall in segregated customer assets by insolvency practitioners.
- The FSCS paying the first £50,000 of each claim.*
*Now, cover for clients that go beyond the sub-limit of £1,000,000 can be arranged, as IronFX UK has purchased a new insurance in October 2017.