The main purpose of the segregated account is to store the funds of customers separately from these of the company. Several reasons require this – firstly, the need to make a clear distinction between the two types of funds to prevent their misuse, and secondly – to guarantee that the clients funds will be protected in case of unexpected developments of the company.
To make sure that the clients funds are kept safely and separately, all of ECNpremium’s clients are assigned a segregated account.
We at ECNpremium chose to have all funds held at the UK’s Barclays headquarters.
There we have two accounts for the separate storing of funds. We chose Barclays because of its worldwide reputation in the bank sector. The bank, ranked as one of the top 5 banks in the EU, has more than 300 years of experience and expertise and currently operates in more than 50 countries, servicing 48 million customers worldwide with a revenue of 25.45 billion.
ECNpremium wants to ensure that its customers receive the best services possible, which is why it works only with the best in each area. We would never jeopardize clients’ funds by using them in operation or any kind of investment and guarantee their protection.
Based on the Investment Firms Law 2002 and its amendments (IF Law) and the Establishment and Operation of an Investor Compensation Fund for customers of CIFs Regulations 2004 issued under the IF Law, an Investor Compensation Fund (CIF) was established.
ICF’s main objective is securing covered clients’ claims against ICF members with compensations in the event of inability of the company to do so.
All Retail Clients of CIFs fall within the scope of the ICF, including Professional Clients and Eligible Counterparties.
All Covered Clients of an ICF’s member company are eligible for payable compensation and this does not depend on the number of accounts held, currency and place of offering the investment service.
This policy protects you as client at ECNpremium, so you can be sure that all your trading activities are subject to our security, integrity and transparency principles and solutions.