In the extremely unlikely event of FXTM’s insolvency, your funds will be insured up to $1 million, in excess of $10,000. This insurance covers both your available balance and open positions.
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Please be informed that in case of insolvency of FXTM:
- No claim of FXTM will be valid unless FXTM receives a confirmation from the Insolvency Practitioner as described in the Policy.
- To qualify as a Claimant, You must (i) meet the requirements of an Eligible Claimant as defined in the Policy; (ii) submit Your claim to the Insolvency Practitioner within 12 months of the date of the insolvency event of FXTM; (iii) submit Your Investor Compensation Claim Form to FXTM within 12 months of the date of insolvency of FXTM or any other timeframe which may be specified.
- The losses that are not caused as a result of theft, misplacement, robbery, hold-up, burglary, embezzlement, wrongful abstraction, larceny, false pretenses, or fraud by FXTM or any of its employees or agents or any other person, and losses that do not relate to cash and securities are not covered.
- There may be certain limitations and exclusions as defined in the Policy.
- Any payment in respect of a claim by FXTM under the Policy is dependent upon the cooperation of FXTM and its compliance with its obligations under the Policy.
- Although You are a beneficiary, You do not have a right to bring a claim against the Insurer under the policy.